BMW M3 Insurance Rates
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UPDATED: Jun 6, 2023
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The average insurance rates for a BMW M3 are $1,628 a year for full coverage insurance. Comprehensive insurance costs around $344, collision insurance costs $674, and liability coverage is estimated at $452. Buying just liability costs approximately $504 a year, and insurance for high-risk drivers costs $3,546 or more. Teen drivers cost the most to insure at up to $6,032 a year.
Average premium for full coverage: $1,628
Policy rates for type of insurance:
Full coverage includes $500 policy deductibles, 30/60 liability coverage, and includes UM/UIM and medical coverage. Prices are averaged for all 50 states and for different M3 trim levels.
Price Range Variability
For a driver around age 40, BMW M3 insurance rates range from the low end price of $504 for a discount liability-only rate to a much higher rate of $3,546 for a policy for a high-risk driver.
Urban vs. Rural Price Range
Living in a larger city has a large influence on car insurance rates. Areas with sparse population are shown to have lower incidents of physical damage claims than larger metro areas. The price range example below illustrates the difference between rural and urban areas on auto insurance rates.
The examples above illustrate why anyone shopping for car insurance should get quotes for a specific zip code, 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 illustrates average BMW M3 insurance rates for additional coverage choices and driver risks.
- The lowest rate with discounts is $918
- Choosing higher $1,000 deductibles can save about $230 each year
- The estimated price for a good driver age 40 using $500 deductibles is $1,628
- Choosing more expensive low deductibles for comp and collision coverage will cost an additional $450 each year
- Drivers with multiple violations and an at-fault accident could pay at least $3,546
- Policy cost that insures a teenage driver with full coverage can be $6,032 each year
Insurance rates for a BMW M3 also range considerably based on the model year and trim level, your age and driving record, and deductibles and policy limits.
If you have a few points on your driving record or you caused an accident, you are probably paying at least $1,900 to $2,700 extra every year, depending on your age. High-risk driver insurance ranges around 45% to 130% more than average. View High Risk Driver Rates
An older driver with a clean driving record and higher comprehensive and collision deductibles may only pay around $1,500 annually on average, or $125 per month, for full coverage. Rates are highest for teenagers, since even teens with perfect driving records can expect to pay as much as $6,000 a year. View Rates by Age
Your home state plays a big part in determining prices for BMW M3 insurance rates. A good driver about age 40 could pay as low as $1,060 a year in states like Vermont, Wisconsin, and North Carolina, or as much as $2,200 on average in Michigan, New York, and Florida.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,472 | -$156 | -9.6% |
| Alaska | $1,248 | -$380 | -23.3% |
| Arizona | $1,350 | -$278 | -17.1% |
| Arkansas | $1,628 | -$0 | 0.0% |
| California | $1,856 | $228 | 14.0% |
| Colorado | $1,554 | -$74 | -4.5% |
| Connecticut | $1,674 | $46 | 2.8% |
| Delaware | $1,842 | $214 | 13.1% |
| Florida | $2,036 | $408 | 25.1% |
| Georgia | $1,502 | -$126 | -7.7% |
| Hawaii | $1,170 | -$458 | -28.1% |
| Idaho | $1,102 | -$526 | -32.3% |
| Illinois | $1,212 | -$416 | -25.6% |
| Indiana | $1,226 | -$402 | -24.7% |
| Iowa | $1,096 | -$532 | -32.7% |
| Kansas | $1,548 | -$80 | -4.9% |
| Kentucky | $2,220 | $592 | 36.4% |
| Louisiana | $2,408 | $780 | 47.9% |
| Maine | $1,004 | -$624 | -38.3% |
| Maryland | $1,342 | -$286 | -17.6% |
| Massachusetts | $1,302 | -$326 | -20.0% |
| Michigan | $2,828 | $1,200 | 73.7% |
| Minnesota | $1,362 | -$266 | -16.3% |
| Mississippi | $1,950 | $322 | 19.8% |
| Missouri | $1,444 | -$184 | -11.3% |
| Montana | $1,748 | $120 | 7.4% |
| Nebraska | $1,284 | -$344 | -21.1% |
| Nevada | $1,954 | $326 | 20.0% |
| New Hampshire | $1,174 | -$454 | -27.9% |
| New Jersey | $1,820 | $192 | 11.8% |
| New Mexico | $1,442 | -$186 | -11.4% |
| New York | $1,714 | $86 | 5.3% |
| North Carolina | $938 | -$690 | -42.4% |
| North Dakota | $1,334 | -$294 | -18.1% |
| Ohio | $1,124 | -$504 | -31.0% |
| Oklahoma | $1,670 | $42 | 2.6% |
| Oregon | $1,490 | -$138 | -8.5% |
| Pennsylvania | $1,552 | -$76 | -4.7% |
| Rhode Island | $2,172 | $544 | 33.4% |
| South Carolina | $1,474 | -$154 | -9.5% |
| South Dakota | $1,372 | -$256 | -15.7% |
| Tennessee | $1,426 | -$202 | -12.4% |
| Texas | $1,962 | $334 | 20.5% |
| Utah | $1,206 | -$422 | -25.9% |
| Vermont | $1,114 | -$514 | -31.6% |
| Virginia | $974 | -$654 | -40.2% |
| Washington | $1,258 | -$370 | -22.7% |
| West Virginia | $1,492 | -$136 | -8.4% |
| Wisconsin | $1,126 | -$502 | -30.8% |
| Wyoming | $1,452 | -$176 | -10.8% |
Choosing high deductibles can save as much as $680 a year, while increasing your policy's liability limits will increase rates. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $407 more per year. View Rates by Deductible or Liability Limit
Insurance Rates by Trim Level and Model Year
| Model and Trim | Annual Premium | Monthly Premium |
|---|---|---|
| BMW M3 4-Dr Sedan | $1,558 | $130 |
| BMW M3 CI 2-Dr Coupe | $1,664 | $139 |
| BMW M3 2-Dr Convertible | $1,664 | $139 |
Rates assume 2018 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 |
|---|---|---|---|---|
| 2018 BMW M3 | $344 | $674 | $452 | $1,628 |
| 2015 BMW M3 | $296 | $522 | $460 | $1,436 |
| 2011 BMW M3 | $252 | $386 | $478 | $1,274 |
| 2009 BMW M3 | $220 | $320 | $474 | $1,172 |
| 2008 BMW M3 | $214 | $288 | $468 | $1,128 |
| 2006 BMW M3 | $206 | $268 | $452 | $1,084 |
| 2005 BMW M3 | $190 | $254 | $446 | $1,048 |
| 2004 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 More Affordable BMW M3 Insurance
Finding cheaper rates on auto insurance takes being a good driver, having above-average credit, being claim-free, and dropping full coverage on older vehicles. Shop around every year by requesting rates from direct insurance companies, and also from insurance agencies where you live.
The following list is a summary of the coverage data covered above.
- It is possible to save up to $200 per year just by shopping early and online
- Increasing comprehensive and collision deductibles can save approximately $675 each year
- Drivers age 16 to 20 pay higher rates, possibly costing $503 each month if full coverage is included
- Drivers who have multiple accidents or major violations could be forced to pay on average $1,920 more every year than a safer driver
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,032 |
| 20 | $3,780 |
| 30 | $1,702 |
| 40 | $1,628 |
| 50 | $1,486 |
| 60 | $1,458 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,078 |
| $250 | $1,868 |
| $500 | $1,628 |
| $1,000 | $1,398 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,628 |
| 50/100 | $1,754 |
| 100/300 | $1,867 |
| 250/500 | $2,161 |
| 100 CSL | $1,800 |
| 300 CSL | $2,048 |
| 500 CSL | $2,229 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,640 |
| 20 | $6,024 |
| 30 | $3,626 |
| 40 | $3,546 |
| 50 | $3,384 |
| 60 | $3,354 |
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 | $88 |
| Multi-vehicle | $87 |
| Homeowner | $24 |
| 5-yr Accident Free | $125 |
| 5-yr Claim Free | $107 |
| Paid in Full/EFT | $78 |
| Advance Quote | $83 |
| Online Quote | $118 |
| Total Discounts | $710 |
Discounts are estimated and may not be available from every company or in every state.
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