BMW M3 Insurance Rates

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UPDATED: May 4, 2024

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Estimated insurance rates for a BMW M3 are $1,766 a year with full coverage. Comprehensive costs approximately $406 a year, collision insurance costs $804, and liability coverage is $398. Liability-only insurance costs around $460 a year, and high-risk driver insurance costs around $3,842. Teen drivers pay the most at up to $6,388 a year.

Average premium for full coverage: $1,766

Premium estimates by type of coverage:

Comprehensive $406
Collision $804
Liability $398

Estimates include $500 policy deductibles, 30/60 split liability limits, and includes UM/UIM and medical coverage. Rates include averaging for all U.S. states and M3 trim levels.

Insurance Price Range by Risk and Coverage

For a driver around age 40, insurance rates for a BMW M3 range from as low as $460 for a discount liability-only rate to a high of $3,842 for a high-risk insurance policy.

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

Insurance Price Range by Location

Choosing to live in a large city has a large influence on the price of insurance. Rural locations are statistically proven to have a lower frequency of collision claims than larger metro areas. The diagram below illustrates the difference between rural and urban areas on auto insurance prices.

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

These rate differences demonstrate why it is important to compare rates quotes using their specific location and risk profile, rather than using 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.

Rates by State, City, and Model

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

  • The lowest rate with discounts is $988
  • Raising to $1,000 deductibles will save $1,494 annually
  • The average rate for a 40-year-old good driver who chooses $500 deductibles is $1,766
  • Choosing low $100 deductibles will increase the cost to $2,304
  • Unlucky drivers with multiple violations and an at-fault accident could pay around $3,842
  • An auto insurance policy for full coverage for a teenage driver can cost $6,388

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

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

Older drivers with no violations or accidents and high deductibles may only pay around $1,600 every 12 months on average, or $133 per month, for full coverage. Prices are highest for drivers in their teens, where even good drivers should be prepared to pay in the ballpark of $6,300 a year. View Rates by Age

Where you choose to live also has a big influence on BMW M3 insurance rates. A middle-age driver might find prices as low as $1,270 a year in states like Utah, Ohio, and New Hampshire, or as much as $2,390 on average in New York, Michigan, and Florida.

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

Choosing high deductibles can reduce prices by up to $810 a year, while buying higher liability limits will push prices upward. Moving from a 50/100 limit to a 250/500 limit will cost up to $358 more each year. View Rates by Deductible or Liability Limit

If you have a few violations or tend to cause accidents, you may be forking out anywhere from $2,100 to $2,800 additional annually, depending on your age. A high-risk auto insurance policy is expensive and can cost around 44% to 133% more than average. View High Risk Driver Rates

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 Find Low Cost BMW M3 Insurance

Finding better rates on auto insurance consists of being safe and accident-free, having a good credit history, being claim-free, and consideration of higher deductibles. Set aside time to compare rates at least every other year by getting quotes from direct companies like Progressive, GEICO, and Esurance, and also from several local insurance agents.

Below you'll find a review of the car insurance concepts covered above.

  • Drivers who have several accidents or serious violations pay on average $2,080 more per year than a low-risk driver
  • You may be able to save around $220 per year just by quoting early and online
  • Increasing policy deductibles can save around $800 each year
  • Consumers who purchase more liability protection will pay about $440 every year to raise from 30/60 bodily injury limits to 250/500 limits

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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