BMW M3 Insurance Rates

Estimated auto insurance rates for a BMW M3 are $1,752 annually for full coverage insurance. Comprehensive insurance costs approximately $394, collision costs $784, and liability coverage costs around $416. Liability-only coverage costs as low as $474 a year, with high-risk coverage costing $3,814 or more. Teen drivers pay the most at $6,376 a year or more.

Average premium for full coverage: $1,752

Premium estimates by type of coverage:

Rates are based on $500 comprehensive and collision deductibles, liability limits of 30/60, and includes both medical and uninsured motorist insurance. Rates include averaging for all 50 states and for different M3 trim levels.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Where you live has a large influence on the price of auto insurance. Rural locations are statistically proven to have fewer physical damage claims than larger metro areas.

The price range example below illustrates the difference between rural and urban areas on auto insurance prices.

These rate differences illustrate why anyone shopping for car insurance should compare prices using their specific location and their own personal driving habits, rather than using price averages.

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

Additional Rate Details

The chart below illustrates estimated BMW M3 insurance rates for additional coverage and risk scenarios.

• The lowest rate with discounts is $979
• Using higher $1,000 deductibles will save $268 each year
• The estimated rate for a 40-year-old good driver who chooses $500 deductibles is $1,752
• Choosing more expensive low deductibles for physical damage coverage costs an additional $520 each year
• Higher-risk drivers with multiple violations and an at-fault accident could pay around $3,814 or more
• An auto insurance policy with full coverage for a teenage driver with full coverage can cost $6,376 or more

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Insurance prices for a BMW M3 also have a wide range based on the model of your M3, your risk profile, and physical damage deductibles and liability limits.

An older driver with a clean driving record and high physical damage deductibles may only pay around $1,600 a year, or $133 per month, for full coverage. Prices are highest for drivers in their teens, where even without any violations or accidents they can expect to pay in the ballpark of $6,300 a year. View Rates by Age

If you have a few violations or you caused a few accidents, you are probably paying anywhere from $2,100 to $2,800 extra annually, depending on your age. High-risk driver insurance can be around 44% to 134% more than average. View High Risk Driver Rates

Choosing high deductibles could cut prices by as much as $790 a year, while increasing your policy's liability limits will push prices upward. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost up to $375 more per year. View Rates by Deductible or Liability Limit

Where you choose to live has a huge impact on BMW M3 insurance rates. A driver around age 40 might see prices as low as $1,140 a year in states like North Carolina, Wisconsin, and Vermont, or as much as $2,360 on average in Florida, New York, and Michigan.

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With such a large range in prices, the only way to figure out who has the best car insurance prices is to compare prices and see how they stack up. Each insurance company uses a different rate calculation, so the prices will be substantially different between companies.

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 Buy the Best Cheap BMW M3 Insurance

Finding better rates on auto insurance requires avoiding accidents and violations, having a good credit history, paying for small claims out-of-pocket, and maximizing policy discounts. Set aside time to compare rates once a year by obtaining price quotes from direct insurance companies, and also from insurance agencies where you live.

The list below is a quick review of the data that was covered above.

• It is possible to save around $220 per year simply by shopping early and online
• Consumers who purchase higher liability limits will pay about $460 annually to increase from 30/60 bodily injury limits to higher 250/500 limits
• Teenagers are expensive to insure, with premiums being up to $531 per month including comprehensive and collision insurance
• Drivers with a DUI or reckless driving violation could be forced to pay on average $2,060 more per year for car insurance