BMW M3 Insurance Rates

Estimated auto insurance rates for a BMW M3 are $1,752 annually for full coverage. Comprehensive costs approximately $394, collision costs $784, and liability is estimated at $416. Liability-only coverage costs approximately $474 a year, with high-risk coverage costing around $3,814. Teenage drivers pay the most at $6,376 a year or more.

Average premium for full coverage: $1,752

Premium estimates by type of coverage:

Rate estimates include $500 deductibles, 30/60 liability limits, and includes UM/UIM and medical coverage. Rates include averaging for all states and for all M3 models.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Living in a larger city can have significant affects on car insurance rates. Rural locations are statistically proven to have fewer accident claims than densely populated cities.

The example below illustrates the difference between rural and urban areas on auto insurance prices.

These rate differences show why everyone should get quotes using their specific location and their own personal driving habits, instead of using average rates.

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

Rates by State, City, and Model

The chart below shows estimated BMW M3 insurance rates for additional coverage and risk scenarios.

• The best discount rate is $979
• Choosing higher $1,000 deductibles can save $268 a year
• The estimated rate for a 40-year-old good driver who chooses $500 deductibles is $1,752
• Using pricier low deductibles for comp and collision coverage will cost $2,272
• Unlucky drivers who are prone to accidents and violations could pay around $3,814 or more
• An auto insurance policy with full coverage for a teen driver for full coverage can cost $6,376 each year

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

A more mature driver with a clean driving record and high physical damage deductibles may pay as little as $1,600 annually on average, or $133 per month, for full coverage. Prices are much higher for drivers in their teens, where even without any violations or accidents they can expect to pay in the ballpark of $6,300 a year. View Rates by Age

If you have a few violations or you caused a few accidents, you could be paying anywhere from $2,100 to $2,800 extra annually, depending on your age. BMW M3 insurance for high-risk drivers ranges as much as 44% to 134% more than a normal policy. View High Risk Driver Rates

Using high physical damage deductibles can save as much as $790 every year, whereas buying more liability protection will push prices upward. Going from a 50/100 bodily injury limit to a 250/500 limit will cost up to $375 more per year. View Rates by Deductible or Liability Limit

Where you choose to live plays a big part in determining prices for BMW M3 insurance prices. A good driver about age 40 could pay as low as $1,150 a year in states like Iowa, Maine, and Idaho, or be forced to pay as much as $2,500 on average in New York, Louisiana, and Michigan.

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With such a large range in prices, the only way to know who has the cheapest car insurance prices is to regularly compare prices and see which company has the best price. Each auto insurer uses a different method to calculate prices, so the prices will be substantially different between companies.

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 Buy the Best BMW M3 Insurance

Finding better rates on car insurance takes not taking risks behind the wheel, having a good credit history, not filing small claims, and maximizing policy discounts. Set aside time to compare rates at every policy renewal by requesting quotes from direct carriers, and also from several local insurance agents.

The following is a brief recap of the data covered above.

• Policyholders who purchase higher liability limits will pay an extra $460 each year to raise limits from 30/60 bodily injury limits to higher 250/500 limits
• Drivers can save around $220 per year simply by quoting online well ahead of the renewal date
• Increasing policy deductibles could save up to $800 each year
• Teens are expensive to insure, as much as $531 per month including comprehensive and collision insurance