BMW M3 Insurance Rates
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Michelle Robbins
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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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The average insurance rates for a BMW M3 are $1,752 a year including full coverage. Comprehensive costs around $394, collision insurance costs $784, and liability is estimated at $416. A liability-only policy costs approximately $474 a year, and high-risk insurance costs around $3,814. Teen drivers cost the most to insure at up to $6,376 a year.
Average premium for full coverage: $1,752
Policy rates for type of insurance:
Price estimates include $500 policy deductibles, liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Prices are averaged for all 50 U.S. states and for all M3 models.
Price Range Variability
Using a middle-aged driver as an example, BMW M3 insurance rates range from the low end price of $474 for liability-only coverage to the much higher price of $3,814 for a driver that may need high-risk insurance.
Urban vs. Rural Price Range
Living in a larger city can make a big difference on the price of insurance. Areas with sparse population are shown to have lower incidents of comprehensive and collision claims than larger metro areas. The example below illustrates how where you live affects auto insurance rates.
The examples above highlight why everyone should get quotes for a specific zip code, instead of making a decision based 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.
Additional Charts and Tables
The chart below breaks down average BMW M3 insurance rates for additional coverage choices and driver risks.
- The lowest rate with discounts is $979
- Choosing higher $1,000 deductibles can save about $268 every year
- The estimated price for a good driver age 40 using $500 deductibles is $1,752
- Choosing pricier low deductibles for comp and collision coverage bumps up the cost to $2,272
- Higher-risk drivers with multiple violations and an at-fault accident could pay at least $3,814
- Policy cost that insures a 16-year-old driver for full coverage can be $6,376 each year
Car insurance rates for a BMW M3 also range considerably based on the model of your M3, your driving record and age, and deductibles and policy limits.
If you have a few points on your driving record or you caused an accident, you are likely paying at least $2,100 to $2,800 extra every year, depending on your age. BMW M3 insurance for high-risk drivers ranges from 44% to 134% more than average. View High Risk Driver Rates
A more mature driver with no driving violations and higher comprehensive and collision deductibles may pay as low as $1,600 annually on average, or $133 per month, for full coverage. Rates are highest for teenagers, since even teens with perfect driving records will be charged as much as $6,300 a year. View Rates by Age
Your home state plays a big part in determining prices for BMW M3 insurance prices. A good driver about age 40 could pay as low as $1,340 a year in states like Missouri, New Hampshire, and Vermont, or as much as $2,500 on average in Michigan, New York, and Louisiana.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,584 | -$168 | -9.6% |
| Alaska | $1,346 | -$406 | -23.2% |
| Arizona | $1,454 | -$298 | -17.0% |
| Arkansas | $1,752 | -$0 | 0.0% |
| California | $1,996 | $244 | 13.9% |
| Colorado | $1,676 | -$76 | -4.3% |
| Connecticut | $1,802 | $50 | 2.9% |
| Delaware | $1,982 | $230 | 13.1% |
| Florida | $2,192 | $440 | 25.1% |
| Georgia | $1,618 | -$134 | -7.6% |
| Hawaii | $1,258 | -$494 | -28.2% |
| Idaho | $1,186 | -$566 | -32.3% |
| Illinois | $1,304 | -$448 | -25.6% |
| Indiana | $1,320 | -$432 | -24.7% |
| Iowa | $1,184 | -$568 | -32.4% |
| Kansas | $1,666 | -$86 | -4.9% |
| Kentucky | $2,390 | $638 | 36.4% |
| Louisiana | $2,594 | $842 | 48.1% |
| Maine | $1,080 | -$672 | -38.4% |
| Maryland | $1,446 | -$306 | -17.5% |
| Massachusetts | $1,400 | -$352 | -20.1% |
| Michigan | $3,042 | $1,290 | 73.6% |
| Minnesota | $1,466 | -$286 | -16.3% |
| Mississippi | $2,098 | $346 | 19.7% |
| Missouri | $1,554 | -$198 | -11.3% |
| Montana | $1,884 | $132 | 7.5% |
| Nebraska | $1,382 | -$370 | -21.1% |
| Nevada | $2,100 | $348 | 19.9% |
| New Hampshire | $1,264 | -$488 | -27.9% |
| New Jersey | $1,958 | $206 | 11.8% |
| New Mexico | $1,550 | -$202 | -11.5% |
| New York | $1,846 | $94 | 5.4% |
| North Carolina | $1,010 | -$742 | -42.4% |
| North Dakota | $1,434 | -$318 | -18.2% |
| Ohio | $1,212 | -$540 | -30.8% |
| Oklahoma | $1,798 | $46 | 2.6% |
| Oregon | $1,604 | -$148 | -8.4% |
| Pennsylvania | $1,670 | -$82 | -4.7% |
| Rhode Island | $2,336 | $584 | 33.3% |
| South Carolina | $1,586 | -$166 | -9.5% |
| South Dakota | $1,480 | -$272 | -15.5% |
| Tennessee | $1,534 | -$218 | -12.4% |
| Texas | $2,112 | $360 | 20.5% |
| Utah | $1,296 | -$456 | -26.0% |
| Vermont | $1,198 | -$554 | -31.6% |
| Virginia | $1,050 | -$702 | -40.1% |
| Washington | $1,356 | -$396 | -22.6% |
| West Virginia | $1,606 | -$146 | -8.3% |
| Wisconsin | $1,212 | -$540 | -30.8% |
| Wyoming | $1,560 | -$192 | -11.0% |
Choosing high deductibles can save as much as $790 annually, whereas buying more liability protection will increase rates. 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
Insurance Rates by Trim Level and Model Year
| Model and Trim | Annual Premium | Monthly Premium |
|---|---|---|
| BMW M3 4-Dr Sedan | $1,668 | $139 |
| BMW M3 CI 2-Dr Coupe | $1,794 | $150 |
| BMW M3 2-Dr Convertible | $1,794 | $150 |
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 | $406 | $804 | $398 | $1,766 |
| 2023 BMW M3 | $394 | $784 | $416 | $1,752 |
| 2022 BMW M3 | $380 | $752 | $430 | $1,720 |
| 2021 BMW M3 | $358 | $726 | $442 | $1,684 |
| 2020 BMW M3 | $344 | $674 | $452 | $1,628 |
| 2019 BMW M3 | $332 | $634 | $456 | $1,580 |
| 2018 BMW M3 | $318 | $568 | $460 | $1,504 |
| 2017 BMW M3 | $296 | $522 | $460 | $1,436 |
| 2016 BMW M3 | $286 | $490 | $464 | $1,398 |
| 2015 BMW M3 | $280 | $458 | $474 | $1,370 |
| 2013 BMW M3 | $252 | $386 | $478 | $1,274 |
| 2012 BMW M3 | $234 | $354 | $474 | $1,220 |
| 2011 BMW M3 | $220 | $320 | $474 | $1,172 |
| 2010 BMW M3 | $214 | $288 | $468 | $1,128 |
| 2009 BMW M3 | $210 | $282 | $460 | $1,110 |
| 2008 BMW M3 | $206 | $268 | $452 | $1,084 |
| 2006 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 Cheaper BMW M3 Insurance
Finding cheaper rates on insurance for a BMW M3 takes avoiding accidents and claims, having a positive credit history, paying for small claims out-of-pocket, and consideration of higher deductibles. Shop around once a year by getting rate quotes from direct car insurance companies, and also from local insurance agencies.
The points below are a condensed summary of the data that was touched on in the above illustrations.
- You may be able to save up to $220 per year just by quoting online well ahead of the renewal date
- Insureds who may need increased liability limits will pay about $460 per year to raise limits from a 30/60 limit to the 250/500 level
- Drivers under the age of 20 are the costliest to insure, with premiums being up to $531 each month if full coverage is purchased
- Drivers considered higher risk with multiple at-fault accidents may have to pay on average $2,060 more every year to insure a BMW M3
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,376 |
| 20 | $4,070 |
| 30 | $1,842 |
| 40 | $1,752 |
| 50 | $1,596 |
| 60 | $1,568 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,272 |
| $250 | $2,030 |
| $500 | $1,752 |
| $1,000 | $1,484 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,752 |
| 50/100 | $1,877 |
| 100/300 | $1,981 |
| 250/500 | $2,252 |
| 100 CSL | $1,919 |
| 300 CSL | $2,148 |
| 500 CSL | $2,314 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,154 |
| 20 | $6,484 |
| 30 | $3,916 |
| 40 | $3,814 |
| 50 | $3,638 |
| 60 | $3,608 |
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 | $139 |
| 5-yr Claim Free | $116 |
| Paid in Full/EFT | $87 |
| Advance Quote | $91 |
| Online Quote | $128 |
| Total Discounts | $773 |
Discounts are estimated and may not be available from every company or in every state.
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