BMW M3 Insurance Rates
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UPDATED: Jun 3, 2023
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U.S. average insurance rates for a BMW M3 are $1,628 a year including full coverage. Comprehensive insurance costs on average $344, collision insurance costs $674, and liability costs $452. A policy with just liability insurance costs as little as $504 a year, and coverage for high-risk drivers costs $3,546 or more. 16-year-old drivers pay the highest rates at up to $6,032 a year.
Average premium for full coverage: $1,628
Price estimates by individual coverage:
Prices include $500 comprehensive and collision deductibles, minimum liability limits, and includes uninsured/under-insured motorist coverage. Estimates are averaged for all 50 U.S. states and for all M3 models.
Price Range from Low to High
Using a middle-aged driver as an example, BMW M3 insurance prices range from as low as $504 for your basic liability-only policy to the much higher price of $3,546 for high-risk insurance.
Geographic Price Range
Your location can have significant affects on car insurance rates. Rural areas have a lower frequency of comprehensive and collision claims than congested cities. The example below illustrates how where you live affects car insurance rates.
The ranges above highlight why everyone should compare rates based on a specific location and risk profile, instead of using rate averages.
Use the form below to get customized rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
More Rate Information
The chart below breaks down average BMW M3 insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $918
- Drivers who choose higher $1,000 deductibles will pay around $230 every year
- The average rate for the average middle-age driver with $500 deductibles is $1,628
- Buying pricier low deductibles for comprehensive and collision insurance will cost an extra $450 every year
- Higher-risk drivers with multiple tickets or accidents could pay upwards of $3,546
- The price for full coverage for a teen driver for full coverage may cost $6,032 a year
Insurance prices for a BMW M3 are also quite variable based on your driving record, the model of your M3, and policy deductibles and limits.
A more mature driver with a clean driving record and high deductibles may pay as little as $1,500 per year on average for full coverage. Prices are highest for teenage drivers, where even good drivers can expect to pay upwards of $6,000 a year. View Rates by Age
The state you live in makes a big difference in BMW M3 insurance prices. A 40-year-old driver could pay as low as $1,250 a year in states like Missouri, New Hampshire, and Vermont, or at least $2,320 on average in Michigan, New York, and Louisiana.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,472 | -$156 | -9.6% |
| Alaska | $1,248 | -$380 | -23.3% |
| Arizona | $1,350 | -$278 | -17.1% |
| Arkansas | $1,628 | -$0 | 0.0% |
| California | $1,856 | $228 | 14.0% |
| Colorado | $1,554 | -$74 | -4.5% |
| Connecticut | $1,674 | $46 | 2.8% |
| Delaware | $1,842 | $214 | 13.1% |
| Florida | $2,036 | $408 | 25.1% |
| Georgia | $1,502 | -$126 | -7.7% |
| Hawaii | $1,170 | -$458 | -28.1% |
| Idaho | $1,102 | -$526 | -32.3% |
| Illinois | $1,212 | -$416 | -25.6% |
| Indiana | $1,226 | -$402 | -24.7% |
| Iowa | $1,096 | -$532 | -32.7% |
| Kansas | $1,548 | -$80 | -4.9% |
| Kentucky | $2,220 | $592 | 36.4% |
| Louisiana | $2,408 | $780 | 47.9% |
| Maine | $1,004 | -$624 | -38.3% |
| Maryland | $1,342 | -$286 | -17.6% |
| Massachusetts | $1,302 | -$326 | -20.0% |
| Michigan | $2,828 | $1,200 | 73.7% |
| Minnesota | $1,362 | -$266 | -16.3% |
| Mississippi | $1,950 | $322 | 19.8% |
| Missouri | $1,444 | -$184 | -11.3% |
| Montana | $1,748 | $120 | 7.4% |
| Nebraska | $1,284 | -$344 | -21.1% |
| Nevada | $1,954 | $326 | 20.0% |
| New Hampshire | $1,174 | -$454 | -27.9% |
| New Jersey | $1,820 | $192 | 11.8% |
| New Mexico | $1,442 | -$186 | -11.4% |
| New York | $1,714 | $86 | 5.3% |
| North Carolina | $938 | -$690 | -42.4% |
| North Dakota | $1,334 | -$294 | -18.1% |
| Ohio | $1,124 | -$504 | -31.0% |
| Oklahoma | $1,670 | $42 | 2.6% |
| Oregon | $1,490 | -$138 | -8.5% |
| Pennsylvania | $1,552 | -$76 | -4.7% |
| Rhode Island | $2,172 | $544 | 33.4% |
| South Carolina | $1,474 | -$154 | -9.5% |
| South Dakota | $1,372 | -$256 | -15.7% |
| Tennessee | $1,426 | -$202 | -12.4% |
| Texas | $1,962 | $334 | 20.5% |
| Utah | $1,206 | -$422 | -25.9% |
| Vermont | $1,114 | -$514 | -31.6% |
| Virginia | $974 | -$654 | -40.2% |
| Washington | $1,258 | -$370 | -22.7% |
| West Virginia | $1,492 | -$136 | -8.4% |
| Wisconsin | $1,126 | -$502 | -30.8% |
| Wyoming | $1,452 | -$176 | -10.8% |
Opting for high physical damage deductibles could save up to $680 every year, whereas buying more liability protection will cost you more. Changing from a 50/100 limit to a 250/500 limit will increase prices by as much as $407 more per year. View Rates by Deductible or Liability Limit
If you have some driving violations or tend to cause accidents, you are likely paying at a minimum $1,900 to $2,700 extra each year, depending on your age. BMW M3 insurance for high-risk drivers can cost as much as 45% to 130% more than the average rate. View High Risk Driver Rates
Insurance Rates by Trim Level and Model Year
| Model and Trim | Annual Premium | Monthly Premium |
|---|---|---|
| BMW M3 4-Dr Sedan | $1,558 | $130 |
| BMW M3 CI 2-Dr Coupe | $1,664 | $139 |
| BMW M3 2-Dr Convertible | $1,664 | $139 |
Rates assume 2018 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2018 BMW M3 | $344 | $674 | $452 | $1,628 |
| 2015 BMW M3 | $296 | $522 | $460 | $1,436 |
| 2011 BMW M3 | $252 | $386 | $478 | $1,274 |
| 2009 BMW M3 | $220 | $320 | $474 | $1,172 |
| 2008 BMW M3 | $214 | $288 | $468 | $1,128 |
| 2006 BMW M3 | $206 | $268 | $452 | $1,084 |
| 2005 BMW M3 | $190 | $254 | $446 | $1,048 |
| 2004 BMW M3 | $182 | $242 | $442 | $1,024 |
Rates are averaged for all BMW M3 models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.
How to Find the Right BMW M3 Insurance
Getting lower rates on car insurance not only requires having a decent driving record, but also maintaining good credit, being claim-free, and determing if full coverage is necessary. Take the time to comparison shop every couple of years by requesting rates from direct car insurance companies like Progressive and GEICO, and also from local exclusive and independent agents.
The following items are a quick rundown of the material that was touched on in the above illustrations.
- Policyholders who require additional liability coverage will pay around $500 per year to go from a low limit to 250/500 limits
- 16 to 18-year-old drivers pay the highest prices, possibly costing $503 a month for full coverage
- Higher risk drivers with reckless driving or DUI convictions may pay on average $1,920 more each year than a driver with a clean driving record
- Increasing physical damage deductibles can save around $675 each year
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,032 |
| 20 | $3,780 |
| 30 | $1,702 |
| 40 | $1,628 |
| 50 | $1,486 |
| 60 | $1,458 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,078 |
| $250 | $1,868 |
| $500 | $1,628 |
| $1,000 | $1,398 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,628 |
| 50/100 | $1,754 |
| 100/300 | $1,867 |
| 250/500 | $2,161 |
| 100 CSL | $1,800 |
| 300 CSL | $2,048 |
| 500 CSL | $2,229 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,640 |
| 20 | $6,024 |
| 30 | $3,626 |
| 40 | $3,546 |
| 50 | $3,384 |
| 60 | $3,354 |
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
| Discount | Savings |
|---|---|
| Multi-policy | $88 |
| Multi-vehicle | $87 |
| Homeowner | $24 |
| 5-yr Accident Free | $125 |
| 5-yr Claim Free | $107 |
| Paid in Full/EFT | $78 |
| Advance Quote | $83 |
| Online Quote | $118 |
| Total Discounts | $710 |
Discounts are estimated and may not be available from every company or in every state.
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