BMW M3 Insurance Rates

Estimated insurance rates for a BMW M3 are $1,766 a year including full coverage. Comprehensive costs on average $406 a year, collision insurance costs $804, and liability costs $398. A policy with only liability insurance costs as little as $460 a year, and a high-risk policy costs around $3,842. Teenage drivers pay the most at up to $6,388 a year.

Average premium for full coverage: $1,766

Premium estimates by type of coverage:

Full coverage includes $500 comprehensive and collision deductibles, split liability limits of 30/60, and includes both medical and UM/UIM coverage. Rates include averaging for all 50 U.S. states and M3 trim levels.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Your location can have significant affects on car insurance rates. Rural areas are statistically proven to have lower incidents of comprehensive and collision claims than densely populated cities. The diagram below illustrates how location helps determine car insurance rates.

These rate differences highlight why it is important to compare rates based on a specific location, instead of using average rates.

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

Rate Comparisons

The chart below breaks down average BMW M3 insurance rates for different risk profiles and scenarios.

• The best discount rate is $988
• Drivers who choose higher $1,000 deductibles will pay around $1,494 every year
• The estimated price for a 40-year-old good driver with $500 deductibles is $1,766
• Using low $100 deductibles for comprehensive and collision insurance bumps up the cost to $2,304
• Higher-risk drivers who are prone to accidents and violations could pay upwards of $3,842
• An auto insurance policy that insures a teen driver may cost $6,388 a year

View Chart as Image

Car insurance prices for a BMW M3 also have a wide range based on the trim level of your M3, your driving record and age, and policy deductibles and limits.

If you have a few violations or you caused an accident, you are likely paying at a minimum $2,100 to $2,800 extra annually, depending on your age. A high-risk auto insurance policy can cost as much as 44% to 133% more than a normal policy. View High Risk Driver Rates

Older drivers with no driving violations and higher comprehensive and collision deductibles may pay as little as $1,600 per year on average, or $133 per month, for full coverage. Prices are much higher for drivers in their teens, since even teens with perfect driving records will be charged upwards of $6,300 a year. View Rates by Age

Where you choose to 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 be forced to pay as much as $2,520 on average in Michigan, New York, and Louisiana.

View Chart as Image

Using high physical damage deductibles could save up to $810 every year, while buying higher liability limits will cost you more. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $358 extra every 12 months. View Rates by Deductible or Liability Limit

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 Find More Affordable BMW M3 Insurance

Finding better rates on car insurance not only requires having a decent driving record, but also having a positive credit history, refrain from filing small claims, and possibly raising deductibles. Compare prices at least once a year by requesting rates from direct car insurance companies, and also from insurance agencies where you live.

The following items are a summary of the primary concepts that were covered in the charts and tables above.

• You may be able to save as much as $220 per year just by quoting early and online
• Higher risk drivers who have multiple accidents or major violations could be forced to pay on average $2,080 more each year than a driver with a clean driving record
• Increasing policy deductibles can save approximately $800 each year
• 16 to 18-year-old drivers are expensive to insure, with the cost nearing $532 per month if full coverage is purchased