BMW M3 Insurance Rates
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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:
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.
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.
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
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.
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% |
Insurance Rates by Trim Level and Model Year
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.
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
Rate Tables and Charts
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
Deductible | Premium |
---|---|
$100 | $2,078 |
$250 | $1,868 |
$500 | $1,628 |
$1,000 | $1,398 |
Full coverage, driver age 40
Rates by Liability Limit
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
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.
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 |
Discounts are estimated and may not be available from every company or in every state.
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