BMW M3 Insurance Rates

The average insurance rates for a BMW M3 are $1,752 a year including full coverage. Comprehensive insurance costs an estimated $394 a year, collision costs $784, and liability costs $416. A liability-only policy costs as little as $474 a year, with high-risk insurance costing $3,814 or more. Teen drivers 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:

Prices are based on $500 comprehensive and collision deductibles, liability coverage up to 30/60, and includes uninsured motorist and medical 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 have significant affects on the price of auto insurance. More rural locations are shown to have lower incidents of comprehensive and collision claims than larger metro areas.

The diagram below illustrates how location helps determine insurance prices.

The examples above highlight why it is important to compare rates for a targeted area, instead of using price averages.

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

Additional Rate Information

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

• The lowest rate with discounts is $979
• Drivers who choose higher $1,000 deductibles will pay approximately $1,484 every year
• The estimated price for a good driver age 40 who has $500 deductibles is $1,752
• Choosing low $100 deductibles for comprehensive and collision insurance will cost an additional $520 every year
• Higher-risk drivers with multiple violations and an at-fault accident could pay up to $3,814 or more
• Policy cost that insures a teen driver can cost as much as $6,376 a year

View Chart as Image

Car insurance rates for a BMW M3 also range considerably based on the trim level of your M3, your driving record and age, and liability limits and deductibles.

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

Older drivers with no driving violations and higher comprehensive and collision deductibles may pay as little as $1,600 per year on average, or $133 per month, for full coverage. Rates are highest for teenagers, since even teens with perfect driving records will be charged at least $6,300 a year. View Rates by Age

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 as much as $2,500 on average in Louisiana, New York, and Michigan.

View Chart as Image

Choosing high deductibles could save up to $790 every year, while buying higher liability limits will increase premiums. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $375 extra every 12 months. View Rates by Deductible or Liability Limit

Because rates have so much variability, the best way to figure out which auto insurance is cheapest is to get quotes and see which company has the best rate. Every company uses a different rate calculation, so rate quotes 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 Find Affordable BMW M3 Insurance

Finding cheaper rates on car insurance not only requires having a decent driving record, but also having a positive credit history, paying for small claims out-of-pocket, and not having any coverage lapses. Shop around every time your policy renews by obtaining price quotes from direct car insurance companies, and also from your local car insurance providers.

The following items are a brief review of the information covered in the charts and tables above.

• You may be able to save approximately $220 per year simply by quoting early and online
• 16 to 18-year-old drivers have the highest car insurance rates, with premiums being up to $531 each month if full coverage is purchased
• Increasing comprehensive and collision deductibles can save approximately $800 each year
• Higher risk drivers with DUI or reckless driving convictions could be charged and average of $2,060 more annually than a driver with a clean driving record
• Policyholders who want additional liability coverage will pay about $460 per year to go from a 30/60 limit to the 250/500 level