BMW M3 Insurance Rates

U.S. average insurance rates for a BMW M3 are $1,752 a year with full coverage. Comprehensive costs approximately $394, collision costs $784, and liability is estimated at $416. A policy with just liability insurance costs approximately $474 a year, with coverage for high-risk drivers costing around $3,814. Teens pay the highest rates at $6,376 a year or more.

Average premium for full coverage: $1,752

Price estimates by individual coverage:

Rate estimates include $500 policy deductibles, minimum liability limits, and includes uninsured/under-insured motorist coverage. Estimates are averaged for all U.S. states and for different M3 trim levels.

Price Range from Low to High

Geographic Price Range

Living in a larger city can have significant affects on the price of insurance. Rural locations have a lower frequency of collision claims than cities with more traffic congestion.

The price range example below illustrates how geographic area affects auto insurance prices.

The ranges above demonstrate why anyone shopping for car insurance should get quotes using their specific location and risk profile, instead of using averaged prices.

Use the form below to get customized rates for your location.

More Rate Information

The chart below details estimated BMW M3 insurance rates for additional coverage and risk scenarios.

• The cheapest rate after discounts is $979
• Choosing higher $1,000 deductibles can save $268 annually
• The average rate for the average middle-age driver who chooses $500 deductibles is $1,752
• Selecting more expensive low deductibles for comp and collision coverage will increase the cost to $2,272
• Unlucky drivers with serious driving violations could pay around $3,814 or more
• The price for full coverage for a teen driver with full coverage can cost $6,376 each year

View Chart as Image

Insurance prices for a BMW M3 are also quite variable based on your driving record, the trim level and model year, and physical damage deductibles and liability limits.

An older driver with a clean driving record and high deductibles may pay as little as $1,600 annually on average for full coverage. Prices are much higher for teenage drivers, where even good drivers can expect to pay in the ballpark of $6,300 a year. View Rates by Age

The state you live in plays a big part in determining prices for BMW M3 insurance prices. A good driver about age 40 could pay as low as $1,260 a year in states like Utah, Ohio, and New Hampshire, or have to pay at least $2,360 on average in New York, Michigan, and Florida.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles can save as much as $790 every year, while increasing your policy's liability limits will push prices upward. Moving from a 50/100 limit to a 250/500 limit will increase prices by as much as $375 more per year. View Rates by Deductible or Liability Limit

If you have some driving violations or tend to cause accidents, you may be forking out anywhere from $2,100 to $2,800 extra each year, depending on your age. High-risk driver insurance ranges as much as 44% to 134% more than the average policy. View High Risk Driver Rates

Since prices can be so different, the best way to find out who has the cheapest auto insurance prices is to compare prices and see which company has the best price. Each auto insurer calculates prices differently, so the prices may be quite different from one company to the next.

Insurance Rates by Trim Level and Model Year

Rates assume 2023 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.

How to Find the Best BMW M3 Insurance

Getting lower rates on car insurance takes avoiding accidents and claims, maintaining good credit, avoid buying unnecessary coverage, and maximizing policy discounts. Invest the time to compare rates every couple of years by obtaining price quotes from direct companies like Progressive and GEICO, and also from several local insurance agents.

The points below are a brief recap of the material that was presented in the illustrations above.

• Policyholders who purchase increased liability limits will pay approximately $460 every year to raise limits from a low limit to 250/500 limits
• Drivers under the age of 20 are expensive to insure, costing up to $531 a month for full coverage
• Higher risk drivers who tend to receive serious violations pay on average $2,060 more per year to insure a BMW M3
• Increasing physical damage deductibles can save around $800 each year