BMW M3 Insurance Rates
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UPDATED: Jun 6, 2023
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U.S. average insurance rates for a BMW M3 are $1,628 a year including full coverage. Comprehensive insurance costs an estimated $344, collision insurance costs $674, and liability coverage costs around $452. Buying just liability costs as low as $504 a year, and insurance for high-risk drivers costs $3,546 or more. Teen drivers pay the highest rates at up to $6,032 a year.
Average premium for full coverage: $1,628
Price estimates broken down by individual coverage:
Rates are based on $500 physical damage insurance deductibles, split liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Estimates are averaged for all 50 U.S. states and for different M3 trim levels.
Price Range from Low to High
For a 40-year-old driver, BMW M3 insurance prices range from as low as $504 for liability-only coverage to a much higher rate of $3,546 for coverage for higher-risk drivers.
Geographic Price Range
Where you live has a large influence on the price of auto insurance. More rural locations have a lower frequency of comprehensive and collision claims than larger metro areas. The price range example below illustrates how your location can change insurance prices.
The ranges above highlight why anyone shopping for car insurance should compare prices for a targeted area and risk profile, rather than 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.
Additional Charts and Tables
The chart below breaks down average BMW M3 insurance rates for other coverage scenarios.
- The lowest rate with discounts is $918
- Using higher $1,000 deductibles will save approximately $230 every year
- The average rate for the average middle-age driver who has $500 deductibles is $1,628
- Choosing more expensive low deductibles for physical damage coverage will cost an extra $450 each year
- Higher-risk drivers with multiple violations and an at-fault accident could pay up to $3,546
- The price for full coverage for a teenage driver with full coverage can cost as much as $6,032 or more
Insurance prices for a BMW M3 are also quite variable based on your driving record, the model of your M3, and liability limits and deductibles.
An older driver with no violations or accidents and high deductibles may only pay around $1,500 a year for full coverage. Prices are highest for teenage drivers, where even good drivers should be prepared to pay at least $6,000 a year. View Rates by Age
The state you live in has a huge impact on BMW M3 insurance rates. A driver around age 40 might see prices as low as $1,250 a year in states like Vermont, New Hampshire, and Missouri, or as much as $2,320 on average in Louisiana, 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% |
Choosing high deductibles could cut prices by as much as $680 a year, while increasing your policy's liability limits will increase premiums. Changing from a 50/100 limit to a 250/500 limit will increase prices by as much as $407 more each year. View Rates by Deductible or Liability Limit
If you have some driving violations or tend to cause accidents, you are likely paying $1,900 to $2,700 additional each year, depending on your age. High-risk driver insurance can be around 45% to 130% more than average. View High Risk Driver Rates
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 Find the Best Cheap BMW M3 Insurance
Getting lower rates on auto insurance requires being a low-risk driver, having a good credit history, being claim-free, and possibly raising deductibles. Invest the time to shop around at least once a year by obtaining price quotes from direct car insurance companies like Progressive and GEICO, and also from your local independent and exclusive agents.
The items below are a quick review of the primary concepts that were illustrated above.
- You may be able to save approximately $200 per year just by shopping early and online
- Drivers with a DUI or reckless driving violation may pay on average $1,920 more annually to insure their M3
- Increasing physical damage deductibles can save around $675 each year
- Teen drivers are expensive to insure, possibly costing $503 a month including comprehensive and collision insurance
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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