BMW M3 Insurance Rates

The average insurance rates for a BMW M3 are $1,752 a year including full coverage. Comprehensive insurance costs approximately $394 each year, collision costs $784, and liability coverage costs around $416. Liability-only coverage costs as low as $474 a year, with high-risk coverage costing $3,814 or more. Teen drivers cost the most to insure at $6,376 a year or more.

Average premium for full coverage: $1,752

Policy rates by type of insurance:

Rate estimates include $500 policy deductibles, 30/60 liability limits, and includes UM/UIM and medical coverage. Prices are averaged for all 50 U.S. states and M3 models.

Price Range Variability

Urban vs. Rural Price Range

Where you live has a large influence on car insurance prices. Rural locations are shown to have lower incidents of comprehensive and collision claims than larger metro areas.

The graphic below illustrates how location helps determine auto insurance prices.

The examples above highlight why all drivers should compare prices using their specific location, rather than using price averages.

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

Rates by State, City, and Model

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

• The lowest rate with discounts is $979
• Using higher $1,000 deductibles will save $268 every year
• The estimated price for a good driver age 40 who chooses $500 deductibles is $1,752
• Choosing low deductibles for physical damage coverage will cost an additional $520 each year
• Higher-risk drivers with multiple violations and an at-fault accident could pay around $3,814 or more
• Policy cost that insures a teenage driver can cost $6,376 or more

View Chart as Image

Insurance rates for a BMW M3 also range considerably based on the trim level and model year, your driving record and age, and physical damage deductibles and liability limits.

If you have a few points on your driving record or you caused an accident, you are likely paying anywhere from $2,100 to $2,800 additional every year, depending on your age. Insurance for high-risk drivers can be around 44% to 134% more than average. View High Risk Driver Rates

More mature drivers with no violations or accidents and higher comprehensive and collision deductibles may only pay around $1,600 a year, or $133 per month, for full coverage. Rates are highest for teenagers, since even teens with perfect driving records should be prepared to pay in the ballpark of $6,300 a year. View Rates by Age

Your home state has a huge impact on BMW M3 insurance rates. A driver around age 40 might see rates as low as $1,340 a year in states like Vermont, New Hampshire, and Missouri, or as much as $2,500 on average in Louisiana, New York, and Michigan.

View Chart as Image

Choosing high deductibles could cut rates by as much as $790 a year, whereas increasing liability limits will push rates upward. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $375 more each year. View Rates by Deductible or Liability Limit

Because rates have so much variability, the best way to figure out who has the best auto insurance rates is to do a rate comparison and see how they stack up. Each insurance company uses a different rate calculation, and rates will be varied.

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

Finding cheaper rates on auto insurance requires being safe and accident-free, having a good credit score, paying for small claims out-of-pocket, and qualifying for all possible discounts. Shop around at every policy renewal by obtaining price quotes from direct car insurance companies, and also from local auto insurance providers.

Below you'll find a brief recap of the data covered in the charts and tables above.

• Consumers who purchase more liability protection will pay about $460 per year to increase from a 30/60 limit to the 250/500 level
• You may be able to save around $220 per year simply by quoting online in advance
• Increasing comprehensive and collision deductibles can save approximately $800 each year
• Youthful drivers are the costliest to insure, with premiums being up to $531 each month if comprehensive and collision insurance is included