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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Average insurance rates for a BMW M3 are $1,766 a year including full coverage. Comprehensive insurance costs around $406 a year, collision insurance costs $804, and liability costs $398. A liability-only policy costs as little as $460 a year, and high-risk insurance costs $3,842 or more. Teen drivers receive the highest rates at up to $6,388 a year.
Average premium for full coverage: $1,766
Rate estimates for individual coverage type:
These estimates include $500 comprehensive and collision deductibles, 30/60 liability limits, and includes UM/UIM and medical coverage. Rates are averaged for all 50 U.S. states and M3 trim levels.
Price Range by Coverage and Risk
For a driver in their 40's, prices range range from the low end price of $460 for a discount liability-only rate to a high of $3,842 for a driver required to buy high-risk insurance.
Price Range by Location
Your location can have significant affects on the price of insurance. Areas with sparse population tend to have lower incidents of comprehensive and collision claims than larger metro areas. The diagram below illustrates how location helps determine auto insurance rates.
These examples highlight why it is important to compare rates for a specific zip code, instead of 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 breaks down average BMW M3 insurance rates for additional coverage choices and driver risks.
- The lowest rate with discounts is $988
- Drivers who choose higher $1,000 deductibles will pay about $1,494 every year
- The estimated price for a 40-year-old driver using $500 deductibles is $1,766
- Choosing low $100 deductibles for comprehensive and collision insurance will cost an additional $538 every year
- Higher-risk drivers with multiple violations and an at-fault accident could pay at least $3,842
- The cost that insures a teen driver can be $6,388 a year
Insurance rates for a BMW M3 can also vary considerably based on the trim level of your M3, your driving record and age, and deductibles and policy limits.
If you like to drive fast or you caused an accident, you are likely paying at least $2,100 to $2,800 extra per year, depending on your age. A high-risk auto insurance policy can cost as much as 44% to 133% more than average. View High Risk Driver Rates
Older drivers with a clean driving record and higher comprehensive and collision deductibles may pay as little as $1,600 per year on average for full coverage. Rates are highest for teen drivers, since even teens with perfect driving records can expect to pay as much as $6,300 a year. View Rates by Age
Where you live makes a big difference in BMW M3 insurance prices. A 40-year-old driver could pay 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% |
Choosing high deductibles could save up to $810 every year, while buying higher liability limits will increase rates. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $358 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 | $1,682 | $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 Find Cheap BMW M3 Insurance
Saving money on car insurance not only requires avoiding accidents and violations, but also having above-average credit, not filing small claims, and dropping full coverage on older vehicles. Shop around at every policy renewal by getting rate quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from local insurance agencies.
The list below is a brief summary of the data covered in the charts and tables above.
- Policyholders who may need higher liability limits will pay about $440 per year to go from a minimum limit to the 250/500 level
- You may be able to save up to $220 per year just by quoting early and online
- Increasing deductibles can save approximately $800 each year
- Teenagers pay higher rates, as much as $532 per month if full coverage is included
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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