BMW M3 Insurance Rates

The average insurance prices for a BMW M3 are $1,752 every 12 months including full coverage. Comprehensive costs an estimated $394 a year, collision costs $784, and liability costs $416. Liability-only coverage costs as little as $474 a year, with high-risk coverage costing around $3,814. Teens cost the most to insure at $6,376 a year or more.

Average premium for full coverage: $1,752

Policy rates broken down by type of insurance:

Estimates include $500 policy deductibles, liability coverage up to 30/60, and includes both medical and UM/UIM coverage. Prices are averaged for all 50 U.S. states and M3 trim levels.

Price Range Variability

Urban vs. Rural Price Range

Your location can make a big difference on the price of auto insurance. More rural locations are shown to have more infrequent comprehensive and collision claims than cities with more traffic congestion.

The diagram below illustrates how where you live affects insurance prices.

The examples above highlight why it is important to compare rates for a targeted area and their own driving history, instead of making a decision based on averaged prices.

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

Rate Comparisons

The chart below breaks down estimated BMW M3 insurance rates for other coverage scenarios.

• The cheapest rate after discounts is $979
• Drivers who choose higher $1,000 deductibles will pay approximately $1,484 every year
• The average price for a good driver age 40 who has $500 deductibles is $1,752
• Selecting low $100 deductibles for comprehensive and collision insurance increases the price to $2,272
• Drivers with serious driving violations could pay up to $3,814 or more
• Policy cost to insure a 16-year-old driver can cost as much as $6,376 a year

View Chart as Image

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

Choosing higher comprehensive and collision insurance deductibles could save up to $790 annually, while buying higher liability limits will increase premiums. Changing from a 50/100 liability limit to a 250/500 limit will raise rates by up to $375 more each year. View Rates by Deductible or Liability Limit

Older drivers with no violations or accidents and higher deductibles may pay as low as $1,600 per year on average, or $133 per month, for full coverage. Rates are much higher for teenagers, since even excellent drivers should be prepared to pay at least $6,300 a year. View Rates by Age

If you have a few points on your driving record or you were responsible for an accident, you are likely paying $2,100 to $2,800 additional every year, depending on your age. A high-risk auto insurance policy can cost from 44% to 134% more than the average policy. View High Risk Driver Rates

Your home state makes a big difference in BMW M3 insurance prices. A 40-year-old driver could pay as low as $1,340 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,500 on average in Louisiana, New York, and Michigan.

View Chart as Image

Because rates have so much variability, the best way to figure out which auto insurance is cheapest is to get quotes from multiple companies. Every company calculates rates differently, 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 Shop for Low Cost BMW M3 Insurance

Finding cheaper rates on insurance for a BMW M3 not only requires avoiding accidents and claims, but also having above-average credit, paying for small claims out-of-pocket, and maximizing policy discounts. Take the time to comparison shop every time your policy renews by requesting rates from direct car insurance companies, and also from local insurance agencies.

The points below are a review of the information touched on in the above illustrations.

• You may be able to save approximately $220 per year simply by quoting early and online
• Drivers under the age of 20 are expensive to insure, with premiums being up to $531 each month if full coverage is included
• Increasing comprehensive and collision deductibles could save as much as $800 each year
• Drivers considered higher risk who have several accidents or serious violations may have to pay on average $2,060 more annually to insure a BMW M3
• Insureds who want increased liability limits will pay approximately $460 per year to go from a 30/60 limit to a 250/500 level