BMW M3 Insurance Rates
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UPDATED: Jun 6, 2023
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Average auto insurance rates for a BMW M3 are $1,628 annually for full coverage insurance. Comprehensive insurance costs an estimated $344, collision insurance costs $674, and liability insurance costs $452. Buying just liability costs as little as $504 a year, and insurance for high-risk drivers costs $3,546 or more. Teenage drivers receive the highest rates at up to $6,032 a year.
Average premium for full coverage: $1,628
Rate estimates broken down by individual coverage type:
Estimates include $500 comprehensive and collision deductibles, split liability limits of 30/60, and includes UM/UIM and medical coverage. Rates are averaged for all 50 states and for all M3 models.
Price Range by Coverage and Risk
For the normal driver, prices range range from as cheap as $504 for a discount liability-only rate to the much higher price of $3,546 for coverage for higher-risk drivers.
Price Range by Location
Your location has a significant impact on the price of insurance. More rural locations tend to have fewer physical damage claims than densely populated cities. The example below illustrates how geographic area affects insurance prices.
These examples illustrate why everyone should compare rates for a targeted area and their own personal driving habits, rather than relying on average rates.
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.
Rates by State, City, and Model
The chart below illustrates average BMW M3 insurance rates for other coverage scenarios.
- The best discount rate is $918
- Drivers who choose higher $1,000 deductibles will pay approximately $230 each year
- The estimated rate for a 40-year-old driver who has $500 deductibles is $1,628
- Using pricier low deductibles for comprehensive and collision insurance costs an additional $450 a year
- High risk drivers who are prone to accidents and violations could pay up to $3,546
- The cost with full coverage for a teen driver for full coverage can cost as much as $6,032 a year
Auto insurance rates for a BMW M3 can also vary considerably based on the trim level of your M3, your risk profile, and liability limits and deductibles.
A more mature driver with a good driving record and high physical damage deductibles could pay as little as $1,500 per year on average for full coverage. Rates are much higher for teen drivers, where even without any violations or accidents they will have to pay at least $6,000 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you are probably paying $1,900 to $2,700 in extra premium per year, depending on your age. BMW M3 insurance for high-risk drivers can cost anywhere from 45% to 130% more than a normal policy. View High Risk Driver Rates
Using high physical damage deductibles could save up to $680 each year, whereas buying more liability protection will increase premiums. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $407 extra every year. View Rates by Deductible or Liability Limit
Where you live makes a big difference in BMW M3 insurance rates. A 40-year-old driver could pay as low as $1,060 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $2,200 on average in Florida, New York, and Michigan.
| 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% |
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 Buy Low Cost BMW M3 Insurance
Saving money on BMW M3 insurance not only requires having a decent driving record, but also having above-average credit, avoid buying unnecessary coverage, and consideration of higher deductibles. Invest the time to compare rates at least once a year by getting rate quotes from direct insurance companies like Progressive and GEICO, and also from your local independent and exclusive agents.
The following items are a review of the primary concepts that were presented in the illustrations above.
- It is possible to save approximately $200 per year just by quoting online well ahead of the renewal date
- High-risk drivers who have several accidents or serious violations may pay on average $1,920 more annually than a driver with a clean driving record
- Increasing deductibles could save up to $675 each year
- 16 to 18-year-old drivers are the costliest to insure, costing up to $503 per month if full coverage is included
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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