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...
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UPDATED: May 4, 2024
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U.S. average insurance prices for a BMW M3 are $1,766 every 12 months including full coverage. Comprehensive insurance costs on average $406, collision insurance costs $804, and liability insurance is $398. Liability-only insurance costs around $460 a year, and high-risk driver insurance costs $3,842 or more. Teen drivers pay the highest rates at up to $6,388 a year.
Average premium for full coverage: $1,766
Price estimates by individual coverage:
These estimates include $500 physical damage insurance deductibles, liability limits of 30/60, and includes both medical and UM/UIM coverage. Estimates are averaged for all 50 U.S. states and for all M3 models.
Price Range from Low to High
For a 40-year-old driver, BMW M3 insurance prices range from the cheapest price of $460 for basic liability insurance to the much higher price of $3,842 for a driver that may need high-risk insurance.
Geographic Price Range
Choosing to live in a large city has a significant impact on car insurance rates. Rural areas have more infrequent comprehensive and collision claims than larger metro areas. The example below illustrates how your location can change car insurance rates.
The ranges above highlight why everyone should compare rates quotes based on a specific location and their own driving history, rather than relying 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 average BMW M3 insurance rates for different risk profiles and scenarios.
- The lowest rate with discounts is $988
- Raising to $1,000 deductibles will save around $272 every year
- The average price for the average middle-age driver with $500 deductibles is $1,766
- Choosing pricier low deductibles costs an extra $538 a year
- Higher-risk drivers with multiple violations and an at-fault accident could pay upwards of $3,842
- The price to insure a teen driver for full coverage may cost $6,388
Car insurance prices for a BMW M3 are also quite variable based on deductibles and policy limits, your driving characteristics, and the trim level of your M3.
Choosing high deductibles can reduce prices by up to $810 each year, whereas buying more liability protection will cost you more. Changing from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $358 extra every 12 months. View Rates by Deductible or Liability Limit
A more mature driver with no driving violations and higher deductibles could pay as little as $1,600 every 12 months on average for full coverage. Prices are highest for teenage drivers, since even excellent drivers will be charged upwards of $6,300 a year. View Rates by Age
If you have some driving violations or you were responsible for an accident, you are likely paying at a minimum $2,100 to $2,800 extra each year, depending on your age. BMW M3 insurance for high-risk drivers is expensive and can cost anywhere from 44% to 133% more than average. View High Risk Driver Rates
The state you live in also has a big influence on BMW M3 insurance rates. A middle-age driver might find prices as low as $1,360 a year in states like Missouri, New Hampshire, and Vermont, or as much as $2,520 on average in Michigan, New York, and Louisiana.
| 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% |
Insurance Rates by Trim Level and Model Year
| 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.
| 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 Shop for Cheap BMW M3 Insurance
Getting lower rates on BMW M3 insurance consists of being a low-risk driver, maintaining a good credit score, being claim-free, and possibly raising deductibles. Invest the time to shop around once a year by requesting quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from your local independent and exclusive agents.
The items below are a brief summary of the data that was illustrated above.
- You may be able to save as much as $220 per year just by quoting online well ahead of the renewal date
- Drivers who require more liability coverage will pay about $440 per year to raise from a low limit to a 250/500 level
- Teen drivers are expensive to insure, possibly costing $532 a month if the policy includes full coverage
- High-risk drivers that tend to have accidents or serious violations may pay on average $2,080 more each year to insure their M3
Rate Tables and Charts
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
| Deductible | Premium |
|---|---|
| $100 | $2,304 |
| $250 | $2,054 |
| $500 | $1,766 |
| $1,000 | $1,494 |
Full coverage, driver age 40
Rates by Liability Limit
| 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
| 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.
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 |
Discounts are estimated and may not be available from every company or in every state.
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