BMW M3 Insurance Rates
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Michelle Robbins
Licensed Insurance Agent
Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
Licensed Insurance Agent
UPDATED: May 4, 2024
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U.S. average auto insurance rates for a BMW M3 are $1,752 annually including full coverage. Comprehensive costs around $394 a year, collision costs $784, and liability costs $416. Liability-only insurance costs as little as $474 a year, with high-risk driver insurance costing around $3,814. Teen drivers pay the highest rates at $6,376 a year or more.
Average premium for full coverage: $1,752
Price estimates for individual coverage:
Estimates include $500 physical damage insurance deductibles, 30/60 liability limits, and includes both medical and UM/UIM coverage. Estimates are averaged for all 50 U.S. states and M3 trim levels.
Price Range from Low to High
For the average 40-year-old driver, BMW M3 insurance prices go from as cheap as $474 for basic liability insurance to a high of $3,814 for a driver required to buy high-risk insurance.
Geographic Price Range
Your location can make a big difference on the price of insurance. Areas with sparse population have fewer comprehensive and collision claims than larger metro areas.
The diagram below illustrates the difference location can make on auto insurance rates.
The ranges above highlight why it is important to compare rates for a specific zip code and their own personal driving habits, instead of making a decision based 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.
Rate Comparisons
The chart below breaks down estimated BMW M3 insurance rates for additional coverage choices and driver risks.
- The lowest rate with discounts is $979
- Drivers who choose higher $1,000 deductibles will pay about $1,484 every year
- The estimated rate for the average middle-age driver using $500 deductibles is $1,752
- Choosing low $100 deductibles for comprehensive and collision insurance will cost $2,272
- Drivers with multiple violations and an at-fault accident could pay at least $3,814 or more
- The price with full coverage for a 16-year-old driver can be $6,376 a year
Car insurance prices for a BMW M3 are also quite variable based on the trim level and model year, your driving characteristics, and deductibles and policy limits.
Older drivers with no driving violations and high physical damage deductibles may pay as low as $1,600 per year on average for full coverage. Prices are highest for teenage drivers, where even without any violations or accidents they will be charged as much as $6,300 a year. View Rates by Age
If you have some driving violations or you caused a few accidents, you are likely paying at least $2,100 to $2,800 extra each year, depending on your age. A high-risk auto insurance policy can cost from 44% to 134% more than average. View High Risk Driver Rates
Choosing high deductibles could save up to $790 annually, while buying higher liability limits will increase prices. Changing from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $375 extra every 12 months. View Rates by Deductible or Liability Limit
The state you live in 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 Missouri, New Hampshire, and Vermont, or as much as $2,500 on average in Michigan, New York, and Louisiana.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,584 | -$168 | -9.6% |
| Alaska | $1,346 | -$406 | -23.2% |
| Arizona | $1,454 | -$298 | -17.0% |
| Arkansas | $1,752 | -$0 | 0.0% |
| California | $1,996 | $244 | 13.9% |
| Colorado | $1,676 | -$76 | -4.3% |
| Connecticut | $1,802 | $50 | 2.9% |
| Delaware | $1,982 | $230 | 13.1% |
| Florida | $2,192 | $440 | 25.1% |
| Georgia | $1,618 | -$134 | -7.6% |
| Hawaii | $1,258 | -$494 | -28.2% |
| Idaho | $1,186 | -$566 | -32.3% |
| Illinois | $1,304 | -$448 | -25.6% |
| Indiana | $1,320 | -$432 | -24.7% |
| Iowa | $1,184 | -$568 | -32.4% |
| Kansas | $1,666 | -$86 | -4.9% |
| Kentucky | $2,390 | $638 | 36.4% |
| Louisiana | $2,594 | $842 | 48.1% |
| Maine | $1,080 | -$672 | -38.4% |
| Maryland | $1,446 | -$306 | -17.5% |
| Massachusetts | $1,400 | -$352 | -20.1% |
| Michigan | $3,042 | $1,290 | 73.6% |
| Minnesota | $1,466 | -$286 | -16.3% |
| Mississippi | $2,098 | $346 | 19.7% |
| Missouri | $1,554 | -$198 | -11.3% |
| Montana | $1,884 | $132 | 7.5% |
| Nebraska | $1,382 | -$370 | -21.1% |
| Nevada | $2,100 | $348 | 19.9% |
| New Hampshire | $1,264 | -$488 | -27.9% |
| New Jersey | $1,958 | $206 | 11.8% |
| New Mexico | $1,550 | -$202 | -11.5% |
| New York | $1,846 | $94 | 5.4% |
| North Carolina | $1,010 | -$742 | -42.4% |
| North Dakota | $1,434 | -$318 | -18.2% |
| Ohio | $1,212 | -$540 | -30.8% |
| Oklahoma | $1,798 | $46 | 2.6% |
| Oregon | $1,604 | -$148 | -8.4% |
| Pennsylvania | $1,670 | -$82 | -4.7% |
| Rhode Island | $2,336 | $584 | 33.3% |
| South Carolina | $1,586 | -$166 | -9.5% |
| South Dakota | $1,480 | -$272 | -15.5% |
| Tennessee | $1,534 | -$218 | -12.4% |
| Texas | $2,112 | $360 | 20.5% |
| Utah | $1,296 | -$456 | -26.0% |
| Vermont | $1,198 | -$554 | -31.6% |
| Virginia | $1,050 | -$702 | -40.1% |
| Washington | $1,356 | -$396 | -22.6% |
| West Virginia | $1,606 | -$146 | -8.3% |
| Wisconsin | $1,212 | -$540 | -30.8% |
| Wyoming | $1,560 | -$192 | -11.0% |
Since prices can be so different, the best way to figure out your exact price is to get quotes from multiple companies. Every company uses a different rate calculation, so rate quotes may be quite different between companies.
Insurance Rates by Trim Level and Model Year
| Model and Trim | Annual Premium | Monthly Premium |
|---|---|---|
| BMW M3 4-Dr Sedan | $1,668 | $139 |
| BMW M3 CI 2-Dr Coupe | $1,794 | $150 |
| BMW M3 2-Dr Convertible | $1,794 | $150 |
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.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 BMW M3 | $406 | $804 | $398 | $1,766 |
| 2023 BMW M3 | $394 | $784 | $416 | $1,752 |
| 2022 BMW M3 | $380 | $752 | $430 | $1,720 |
| 2021 BMW M3 | $358 | $726 | $442 | $1,684 |
| 2020 BMW M3 | $344 | $674 | $452 | $1,628 |
| 2019 BMW M3 | $332 | $634 | $456 | $1,580 |
| 2018 BMW M3 | $318 | $568 | $460 | $1,504 |
| 2017 BMW M3 | $296 | $522 | $460 | $1,436 |
| 2016 BMW M3 | $286 | $490 | $464 | $1,398 |
| 2015 BMW M3 | $280 | $458 | $474 | $1,370 |
| 2013 BMW M3 | $252 | $386 | $478 | $1,274 |
| 2012 BMW M3 | $234 | $354 | $474 | $1,220 |
| 2011 BMW M3 | $220 | $320 | $474 | $1,172 |
| 2010 BMW M3 | $214 | $288 | $468 | $1,128 |
| 2009 BMW M3 | $210 | $282 | $460 | $1,110 |
| 2008 BMW M3 | $206 | $268 | $452 | $1,084 |
| 2006 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
Getting lower rates on insurance for a BMW M3 not only requires being a low-risk driver, but also having a good credit score, being claim-free, and qualifying for all possible discounts. Make time to compare rates at every policy renewal by getting quotes from direct car insurance companies like GEICO, Progressive, and Esurance, and also from your local independent and exclusive agents.
The items below are a review of the data touched on in this article.
- Insureds who may need more liability coverage will pay about $460 per year to go from a low limit to higher 250/500 limits
- You may be able to save up to $220 per year simply by quoting early and online
- Increasing physical damage deductibles could save up to $800 each year
- Teen drivers are the costliest to insure, possibly costing $531 a month if comprehensive and collision insurance is included
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,376 |
| 20 | $4,070 |
| 30 | $1,842 |
| 40 | $1,752 |
| 50 | $1,596 |
| 60 | $1,568 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,272 |
| $250 | $2,030 |
| $500 | $1,752 |
| $1,000 | $1,484 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,752 |
| 50/100 | $1,877 |
| 100/300 | $1,981 |
| 250/500 | $2,252 |
| 100 CSL | $1,919 |
| 300 CSL | $2,148 |
| 500 CSL | $2,314 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,154 |
| 20 | $6,484 |
| 30 | $3,916 |
| 40 | $3,814 |
| 50 | $3,638 |
| 60 | $3,608 |
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 | $96 |
| Multi-vehicle | $92 |
| Homeowner | $24 |
| 5-yr Accident Free | $139 |
| 5-yr Claim Free | $116 |
| Paid in Full/EFT | $87 |
| Advance Quote | $91 |
| Online Quote | $128 |
| Total Discounts | $773 |
Discounts are estimated and may not be available from every company or in every state.
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