BMW M3 Insurance Rates

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Jun 6, 2023

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Estimated auto insurance rates for a BMW M3 are $1,628 annually for full coverage insurance. Comprehensive insurance costs an estimated $344, collision insurance costs $674, and liability insurance is $452. Liability-only insurance costs around $504 a year, and high-risk driver insurance costs $3,546 or more. Teens pay the most at up to $6,032 a year.

Average premium for full coverage: $1,628

Premium estimates broken down by type of coverage:

Comprehensive $344
Collision $674
Liability $452

Estimates include $500 deductible amounts, minimum liability limits, and includes medical and uninsured motorist coverage. Rates include averaging for all 50 states and for different M3 trim levels.

Insurance Price Range by Risk and Coverage

For an average driver, insurance rates for a BMW M3 range from as cheap as $504 for just liability coverage to a much higher rate of $3,546 for high-risk insurance.

Liability Only $504
Full Coverage $1,628
High Risk $3,546

Insurance Price Range by Location

Choosing to live in a large city has a significant impact on the price of insurance. More rural locations are statistically proven to have fewer physical damage claims than cities with more traffic congestion. The price range example below illustrates the effect of geographic area on insurance prices.

Rural Areas $1,221
Small Cities $1,709
Large Cities $2,198

These rate differences illustrate why anyone shopping for car insurance should compare rates quotes for a targeted area and their own personal driving habits, rather than relying on averaged prices.

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.

Detailed Rate Analysis

The chart below illustrates average BMW M3 insurance rates for other coverage scenarios.

  • The cheapest rate after discounts is $918
  • Raising to $1,000 deductibles will save approximately $230 each year
  • The estimated rate for a 40-year-old good driver who has $500 deductibles is $1,628
  • Selecting more expensive low deductibles costs an additional $450 a year
  • Higher-risk drivers with serious driving violations could pay up to $3,546
  • An auto insurance policy with full coverage for a teen driver with full coverage can cost as much as $6,032

View Chart as Image

BMW M3 insurance cost comparison chart
Column chart showing BMW M3 insurance prices range from $918 to $6,032 for full coverage

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

An older driver with no violations or accidents and high physical damage deductibles could pay as little as $1,500 every 12 months on average, or $125 per month, for full coverage. Prices are much higher for drivers in their teens, where even without any violations or accidents they should be prepared to pay at least $6,000 a year. View Rates by Age

If you have a few violations or you caused a few accidents, you are probably paying $1,900 to $2,700 additional annually, depending on your age. High-risk driver insurance is expensive and can cost anywhere from 45% to 130% more than the average policy. View High Risk Driver Rates

Choosing higher comprehensive and collision insurance deductibles can reduce prices by up to $680 each year, while increasing your policy's liability limits will increase premiums. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost up to $407 more each year. View Rates by Deductible or Liability Limit

Where you choose to live also has a big influence on BMW M3 insurance rates. A middle-age driver might find prices as low as $1,060 a year in states like North Carolina, Wisconsin, and Vermont, or have to pay at least $2,200 on average in Florida, New York, and Michigan.

BMW M3 Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,472 -$156 -9.6%
Alaska $1,248 -$380 -23.3%
Arizona $1,350 -$278 -17.1%
Arkansas $1,628 -$0 0.0%
California $1,856 $228 14.0%
Colorado $1,554 -$74 -4.5%
Connecticut $1,674 $46 2.8%
Delaware $1,842 $214 13.1%
Florida $2,036 $408 25.1%
Georgia $1,502 -$126 -7.7%
Hawaii $1,170 -$458 -28.1%
Idaho $1,102 -$526 -32.3%
Illinois $1,212 -$416 -25.6%
Indiana $1,226 -$402 -24.7%
Iowa $1,096 -$532 -32.7%
Kansas $1,548 -$80 -4.9%
Kentucky $2,220 $592 36.4%
Louisiana $2,408 $780 47.9%
Maine $1,004 -$624 -38.3%
Maryland $1,342 -$286 -17.6%
Massachusetts $1,302 -$326 -20.0%
Michigan $2,828 $1,200 73.7%
Minnesota $1,362 -$266 -16.3%
Mississippi $1,950 $322 19.8%
Missouri $1,444 -$184 -11.3%
Montana $1,748 $120 7.4%
Nebraska $1,284 -$344 -21.1%
Nevada $1,954 $326 20.0%
New Hampshire $1,174 -$454 -27.9%
New Jersey $1,820 $192 11.8%
New Mexico $1,442 -$186 -11.4%
New York $1,714 $86 5.3%
North Carolina $938 -$690 -42.4%
North Dakota $1,334 -$294 -18.1%
Ohio $1,124 -$504 -31.0%
Oklahoma $1,670 $42 2.6%
Oregon $1,490 -$138 -8.5%
Pennsylvania $1,552 -$76 -4.7%
Rhode Island $2,172 $544 33.4%
South Carolina $1,474 -$154 -9.5%
South Dakota $1,372 -$256 -15.7%
Tennessee $1,426 -$202 -12.4%
Texas $1,962 $334 20.5%
Utah $1,206 -$422 -25.9%
Vermont $1,114 -$514 -31.6%
Virginia $974 -$654 -40.2%
Washington $1,258 -$370 -22.7%
West Virginia $1,492 -$136 -8.4%
Wisconsin $1,126 -$502 -30.8%
Wyoming $1,452 -$176 -10.8%

View Chart as Image

BMW M3 insurance rates by U.S. city

Insurance Rates by Trim Level and Model Year

BMW M3 Insurance Rates by Model and Trim Level
Model and Trim Annual Premium Monthly Premium
BMW M3 4-Dr Sedan $1,558 $130
BMW M3 CI 2-Dr Coupe $1,664 $139
BMW M3 2-Dr Convertible $1,664 $139

Rates assume 2018 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.

BMW M3 Insurance Rates by Model Year
Model Year Comprehensive Collision Liability Total Premium
2018 BMW M3 $344 $674 $452 $1,628
2015 BMW M3 $296 $522 $460 $1,436
2011 BMW M3 $252 $386 $478 $1,274
2009 BMW M3 $220 $320 $474 $1,172
2008 BMW M3 $214 $288 $468 $1,128
2006 BMW M3 $206 $268 $452 $1,084
2005 BMW M3 $190 $254 $446 $1,048
2004 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 Buy Low Cost BMW M3 Insurance

Finding better rates on BMW M3 insurance consists of having a good driving record, having good credit, paying for small claims out-of-pocket, and possibly raising deductibles. Take the time to compare rates every couple of years by obtaining price quotes from direct insurance companies, and also from your local independent and exclusive agents.

The next list is a review of the material that was covered in the above illustrations.

  • Drivers who want increased levels of liability coverage will pay approximately $500 annually to raise from 30/60 bodily injury limits to higher 250/500 limits
  • Drivers age 20 and younger are expensive to insure, with premiums being up to $503 per month if they have full coverage
  • High-risk drivers who have several accidents or serious violations may pay on average $1,920 more annually to buy BMW M3 insurance
  • Increasing policy deductibles could save up to $675 each year

Rates by Driver Age

BMW M3 Insurance Rates by Driver Age
Driver Age Premium
16 $6,032
20 $3,780
30 $1,702
40 $1,628
50 $1,486
60 $1,458

Full coverage, $500 deductibles

Rates by Deductible

BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,078
$250 $1,868
$500 $1,628
$1,000 $1,398

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,628
50/100 $1,754
100/300 $1,867
250/500 $2,161
100 CSL $1,800
300 CSL $2,048
500 CSL $2,229

Full coverage, driver age 40

Rates for High Risk Drivers

BMW M3 Insurance Rates for High Risk Drivers
Age Premium
16 $8,640
20 $6,024
30 $3,626
40 $3,546
50 $3,384
60 $3,354

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.

SR-22 Surcharge $233

Potential Rate Discounts

If you qualify for discounts, you may save the amounts shown below.

Discount Savings
Multi-policy $88
Multi-vehicle $87
Homeowner $24
5-yr Accident Free $125
5-yr Claim Free $107
Paid in Full/EFT $78
Advance Quote $83
Online Quote $118
Total Discounts $710
Rate after discounts $918

Discounts are estimated and may not be available from every company or in every state.

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