BMW M3 Insurance Rates

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UPDATED: May 4, 2024

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U.S. average insurance prices for a BMW M3 are $1,766 every 12 months including full coverage. Comprehensive costs approximately $406, collision insurance costs $804, and liability insurance is estimated at $398. Liability-only insurance costs approximately $460 a year, and high-risk driver insurance costs around $3,842. Teen drivers pay the highest rates at up to $6,388 a year.

Average premium for full coverage: $1,766

Price estimates by individual coverage:

Comprehensive $406
Collision $804
Liability $398

Estimates include $500 policy deductibles, bodily injury liability limits of 30/60, and includes medical and uninsured motorist coverage. Estimates are averaged for all 50 U.S. states and for all M3 models.

Price Range from Low to High

Using a 40-year-old driver as an example, BMW M3 insurance prices range from the cheapest price of $460 for just liability coverage to the much higher price of $3,842 for a driver who has had serious violations or accidents.

Liability Only $460
Full Coverage $1,766
High Risk $3,842

Geographic Price Range

Living in a larger city has a significant impact on car insurance prices. Rural locations have more infrequent comprehensive and collision claims than larger metro areas. The example below illustrates how rural and urban location affects auto insurance prices.

Rural Areas $1,325
Small Cities $1,854
Large Cities $2,384

The ranges above highlight why everyone should get quotes using their specific location and their own driving history, rather than relying on price averages.

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.

Detailed Rate Analysis

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

  • The lowest rate with discounts is $988
  • Choosing higher $1,000 deductibles can save $272 every year
  • The average price for the average middle-age driver who chooses $500 deductibles is $1,766
  • Choosing pricier low deductibles for comp and collision coverage increases the price to $2,304
  • High-risk insureds with multiple violations and an at-fault accident could pay around $3,842
  • The price to insure a teen driver for full coverage can cost $6,388 each year

View Chart as Image

BMW M3 insurance cost comparison chart
Column chart showing BMW M3 insurance rates range from $988 to $6,388 for full coverage

Car insurance prices for a BMW M3 are also quite variable based on deductibles and policy limits, your driving characteristics, and the model of your M3.

Choosing high deductibles can save as much as $810 each year, whereas buying more liability protection will push prices upward. Changing from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $358 extra every 12 months. View Rates by Deductible or Liability Limit

A more mature driver with no driving violations and higher deductibles could pay as little as $1,600 annually on average for full coverage. Prices are highest for teenage drivers, since even excellent drivers will be charged in the ballpark of $6,300 a year. View Rates by Age

If you have some driving violations or you were responsible for an accident, you are likely paying anywhere from $2,100 to $2,800 extra each year, depending on your age. BMW M3 insurance for high-risk drivers ranges anywhere from 44% to 133% more than average. View High Risk Driver Rates

The state you live in plays a big part in determining prices for BMW M3 insurance rates. A good driver about age 40 could pay as low as $1,360 a year in states like Vermont, New Hampshire, and Missouri, or as much as $2,520 on average in Louisiana, New York, and Michigan.

BMW M3 Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,598 -$168 -9.5%
Alaska $1,356 -$410 -23.2%
Arizona $1,468 -$298 -16.9%
Arkansas $1,766 -$0 0.0%
California $2,014 $248 14.0%
Colorado $1,688 -$78 -4.4%
Connecticut $1,818 $52 2.9%
Delaware $2,000 $234 13.3%
Florida $2,210 $444 25.1%
Georgia $1,632 -$134 -7.6%
Hawaii $1,270 -$496 -28.1%
Idaho $1,196 -$570 -32.3%
Illinois $1,320 -$446 -25.3%
Indiana $1,330 -$436 -24.7%
Iowa $1,194 -$572 -32.4%
Kansas $1,680 -$86 -4.9%
Kentucky $2,412 $646 36.6%
Louisiana $2,616 $850 48.1%
Maine $1,092 -$674 -38.2%
Maryland $1,458 -$308 -17.4%
Massachusetts $1,414 -$352 -19.9%
Michigan $3,070 $1,304 73.8%
Minnesota $1,480 -$286 -16.2%
Mississippi $2,120 $354 20.0%
Missouri $1,570 -$196 -11.1%
Montana $1,900 $134 7.6%
Nebraska $1,394 -$372 -21.1%
Nevada $2,120 $354 20.0%
New Hampshire $1,276 -$490 -27.7%
New Jersey $1,976 $210 11.9%
New Mexico $1,566 -$200 -11.3%
New York $1,862 $96 5.4%
North Carolina $1,018 -$748 -42.4%
North Dakota $1,448 -$318 -18.0%
Ohio $1,220 -$546 -30.9%
Oklahoma $1,818 $52 2.9%
Oregon $1,618 -$148 -8.4%
Pennsylvania $1,686 -$80 -4.5%
Rhode Island $2,358 $592 33.5%
South Carolina $1,602 -$164 -9.3%
South Dakota $1,492 -$274 -15.5%
Tennessee $1,548 -$218 -12.3%
Texas $2,130 $364 20.6%
Utah $1,308 -$458 -25.9%
Vermont $1,210 -$556 -31.5%
Virginia $1,058 -$708 -40.1%
Washington $1,366 -$400 -22.7%
West Virginia $1,622 -$144 -8.2%
Wisconsin $1,224 -$542 -30.7%
Wyoming $1,574 -$192 -10.9%

View Chart as Image

BMW M3 insurance rates by U.S. city

Insurance Rates by Trim Level and Model Year

BMW M3 Insurance Rates by Model and Trim Level
Model and Trim Annual Premium Monthly Premium
BMW M3 4-Dr Sedan $1,682 $140
BMW M3 CI 2-Dr Coupe $1,810 $151
BMW M3 2-Dr Convertible $1,810 $151

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.

BMW M3 Insurance Rates by Model Year
Model Year Comprehensive Collision Liability Total Premium
2024 BMW M3 $424 $810 $390 $1,782
2023 BMW M3 $406 $804 $398 $1,766
2022 BMW M3 $394 $784 $416 $1,752
2021 BMW M3 $380 $752 $430 $1,720
2020 BMW M3 $358 $726 $442 $1,684
2019 BMW M3 $344 $674 $452 $1,628
2018 BMW M3 $332 $634 $456 $1,580
2017 BMW M3 $318 $568 $460 $1,504
2016 BMW M3 $296 $522 $460 $1,436
2015 BMW M3 $286 $490 $464 $1,398
2013 BMW M3 $258 $424 $474 $1,314
2012 BMW M3 $252 $386 $478 $1,274
2011 BMW M3 $234 $354 $474 $1,220
2010 BMW M3 $220 $320 $474 $1,172
2009 BMW M3 $214 $288 $468 $1,128
2008 BMW M3 $210 $282 $460 $1,110
2006 BMW M3 $190 $254 $446 $1,048
2005 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 Shop for Low Cost BMW M3 Insurance

Getting lower rates on BMW M3 insurance takes avoiding accidents and claims, maintaining a good credit score, being claim-free, and attention to physical damage deductibles. Set aside time to shop around every other policy renewal by getting rate quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from your local car insurance providers.

The points below are a review of the ideas that were raised in the charts and tables above.

  • Drivers under the age of 20 pay the highest auto insurance prices, possibly costing $532 a month if the policy includes full coverage
  • High-risk drivers who have several accidents or serious violations could be charged and average of $2,080 more per year to insure a BMW M3
  • Increasing physical damage deductibles could save as much as $800 each year
  • You may be able to save around $220 per year just by quoting online well ahead of the renewal date

Rates by Driver Age

BMW M3 Insurance Rates by Driver Age
Driver Age Premium
16 $6,388
20 $4,104
30 $1,864
40 $1,766
50 $1,610
60 $1,580

Full coverage, $500 deductibles

Rates by Deductible

BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,304
$250 $2,054
$500 $1,766
$1,000 $1,494

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,766
50/100 $1,890
100/300 $1,989
250/500 $2,248
100 CSL $1,929
300 CSL $2,148
500 CSL $2,308

Full coverage, driver age 40

Rates for High Risk Drivers

BMW M3 Insurance Rates for High Risk Drivers
Age Premium
16 $9,180
20 $6,530
30 $3,952
40 $3,842
50 $3,666
60 $3,636

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.

SR-22 Surcharge $253

Potential Rate Discounts

If you qualify for discounts, you may save the amounts shown below.

Discount Savings
Multi-policy $96
Multi-vehicle $92
Homeowner $24
5-yr Accident Free $141
5-yr Claim Free $116
Paid in Full/EFT $88
Advance Quote $92
Online Quote $129
Total Discounts $778
Rate after discounts $988

Discounts are estimated and may not be available from every company or in every state.

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