BMW M3 Insurance Rates

Estimated insurance prices for a BMW M3 are $1,752 every 12 months for full coverage insurance. Comprehensive insurance costs an estimated $394 each year, collision costs $784, and liability insurance costs around $416. Liability-only coverage costs as low as $474 a year, with high-risk coverage costing $3,814 or more. Teen drivers pay the most at $6,376 a year or more.

Average premium for full coverage: $1,752

Premium estimates broken down by type of coverage:

Prices are based on $500 policy deductibles, split liability limits of 30/60, and includes UM/UIM and medical coverage. Rates include averaging for all 50 states and M3 models.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Where you live has a significant impact on the price of insurance. More rural locations are statistically proven to have more infrequent physical damage claims than larger metro areas.

The graphic below illustrates the difference between rural and urban areas on insurance prices.

These rate differences illustrate why all drivers should compare prices for a targeted area and their own driving history, rather than relying on price averages.

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

Rates by State, City, and Model

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

• The lowest rate with discounts is $979
• Using higher $1,000 deductibles will save approximately $268 each year
• The average price for a 40-year-old good driver who has $500 deductibles is $1,752
• Choosing low deductibles for physical damage coverage costs an extra $520 a year
• Drivers with multiple violations and an at-fault accident could pay up to $3,814 or more
• An auto insurance policy to insure a teen driver can cost as much as $6,376 or more

View Chart as Image

Insurance prices for a BMW M3 also have a wide range based on physical damage deductibles and liability limits, your risk profile, and the model year and trim level.

Choosing high deductibles could cut prices by as much as $790 each year, whereas increasing liability limits will increase premiums. Switching from a 50/100 liability limit to a 250/500 limit will cost up to $375 more per year. View Rates by Deductible or Liability Limit

More mature drivers with a clean driving record and higher deductibles could pay as little as $1,600 a year, or $133 per month, for full coverage. Prices are highest for drivers in their teens, since even excellent drivers can expect to pay at least $6,300 a year. View Rates by Age

If you have a few violations or you were responsible for an accident, you are probably paying $2,100 to $2,800 extra annually, depending on your age. Insurance for high-risk drivers can be anywhere from 44% to 134% more than average. View High Risk Driver Rates

Where you choose to live has a huge impact on BMW M3 insurance rates. A driver around age 40 might see prices as low as $1,140 a year in states like North Carolina, Wisconsin, and Vermont, or as much as $2,360 on average in Florida, New York, and Michigan.

View Chart as Image

With such a large range in prices, the only way to figure out which insurance company is cheapest is to do a rate comparison from as many companies as possible. Each insurance company uses a different rate calculation, so the prices will be substantially different.

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 Affordable BMW M3 Insurance

Finding better rates on BMW M3 insurance requires avoiding accidents and claims, having good credit, paying for small claims out-of-pocket, and taking advantage of discounts. Set aside time to compare rates at least once a year by requesting rates from direct insurance companies, and also from insurance agencies where you live.

The points below are a brief review of the primary concepts that were covered above.

• It is possible to save approximately $220 per year simply by quoting online in advance
• High-risk drivers with DUI or reckless driving convictions could be forced to pay on average $2,060 more annually to insure a BMW M3
• Increasing policy deductibles could save as much as $800 each year
• Drivers under the age of 20 are charged the highest prices, with premiums being up to $531 per month if they have full coverage