BMW M3 Insurance Rates

Enter your zip code below to view companies that have cheap auto insurance rates.

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

Michelle Robbins

Licensed Insurance Agent

Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...

Licensed Insurance Agent

UPDATED: May 4, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

Average insurance rates for a BMW M3 are $1,766 a year for full coverage insurance. Comprehensive insurance costs around $406 each year, collision insurance costs $804, and liability is $398. A liability-only policy costs around $460 a year, and high-risk insurance costs $3,842 or more. Teens receive the highest rates at up to $6,388 a year.

Average premium for full coverage: $1,766

Rate estimates for individual coverage type:

Comprehensive $406
Collision $804
Liability $398

These estimates include $500 policy deductibles, minimum liability limits, and includes uninsured/under-insured motorist coverage. Rates are averaged for all 50 states and M3 models.

Price Range by Coverage and Risk

For a driver around age 40, prices range range from as low as $460 for your basic liability-only policy to a high rate of $3,842 for high-risk insurance.

Liability Only $460
Full Coverage $1,766
High Risk $3,842

Price Range by Location

Choosing to live in a large city can have significant affects on car insurance rates. Areas with sparse population tend to have a lower frequency of physical damage claims than cities with more traffic congestion. The graphic below illustrates the difference between rural and urban areas on auto insurance rates.

Rural Areas $1,325
Small Cities $1,854
Large Cities $2,384

These examples illustrate why all drivers should compare rates quotes for a specific zip code and risk profile, instead of using 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.

More Rate Information

The chart below illustrates average BMW M3 insurance rates for additional coverage choices and driver risks.

  • The cheapest rate after discounts is $988
  • Raising to $1,000 deductibles will save about $272 each year
  • The average rate for a 40-year-old driver using $500 deductibles is $1,766
  • Selecting low deductibles will cost an extra $538 every year
  • At-risk drivers with serious driving violations could pay at least $3,842
  • The cost for full coverage for a teen driver can be $6,388

View Chart as Image

BMW M3 insurance cost comparison chart
Column chart showing BMW M3 insurance prices range from $988 to $6,388 for full coverage

Insurance rates for a BMW M3 can also vary considerably based on your driver profile, the model year and trim level, and deductibles and policy limits.

More mature drivers with a clean driving record and high deductibles may pay as little as $1,600 every 12 months on average for full coverage. Rates are much higher for teen drivers, where even good drivers can expect to pay as much as $6,300 a year. View Rates by Age

Where you live also has a big influence on BMW M3 insurance prices. A middle-age driver might find rates as low as $1,160 a year in states like Vermont, Wisconsin, and North Carolina, or have to pay at least $2,390 on average in Michigan, New York, and Florida.

BMW M3 Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,598 -$168 -9.5%
Alaska $1,356 -$410 -23.2%
Arizona $1,468 -$298 -16.9%
Arkansas $1,766 -$0 0.0%
California $2,014 $248 14.0%
Colorado $1,688 -$78 -4.4%
Connecticut $1,818 $52 2.9%
Delaware $2,000 $234 13.3%
Florida $2,210 $444 25.1%
Georgia $1,632 -$134 -7.6%
Hawaii $1,270 -$496 -28.1%
Idaho $1,196 -$570 -32.3%
Illinois $1,320 -$446 -25.3%
Indiana $1,330 -$436 -24.7%
Iowa $1,194 -$572 -32.4%
Kansas $1,680 -$86 -4.9%
Kentucky $2,412 $646 36.6%
Louisiana $2,616 $850 48.1%
Maine $1,092 -$674 -38.2%
Maryland $1,458 -$308 -17.4%
Massachusetts $1,414 -$352 -19.9%
Michigan $3,070 $1,304 73.8%
Minnesota $1,480 -$286 -16.2%
Mississippi $2,120 $354 20.0%
Missouri $1,570 -$196 -11.1%
Montana $1,900 $134 7.6%
Nebraska $1,394 -$372 -21.1%
Nevada $2,120 $354 20.0%
New Hampshire $1,276 -$490 -27.7%
New Jersey $1,976 $210 11.9%
New Mexico $1,566 -$200 -11.3%
New York $1,862 $96 5.4%
North Carolina $1,018 -$748 -42.4%
North Dakota $1,448 -$318 -18.0%
Ohio $1,220 -$546 -30.9%
Oklahoma $1,818 $52 2.9%
Oregon $1,618 -$148 -8.4%
Pennsylvania $1,686 -$80 -4.5%
Rhode Island $2,358 $592 33.5%
South Carolina $1,602 -$164 -9.3%
South Dakota $1,492 -$274 -15.5%
Tennessee $1,548 -$218 -12.3%
Texas $2,130 $364 20.6%
Utah $1,308 -$458 -25.9%
Vermont $1,210 -$556 -31.5%
Virginia $1,058 -$708 -40.1%
Washington $1,366 -$400 -22.7%
West Virginia $1,622 -$144 -8.2%
Wisconsin $1,224 -$542 -30.7%
Wyoming $1,574 -$192 -10.9%

View Chart as Image

BMW M3 insurance rates by U.S. city

Choosing higher comprehensive and collision insurance deductibles can reduce rates by up to $810 every year, whereas increasing liability limits will increase rates. Switching from a 50/100 limit to a 250/500 limit will cost as much as $358 more per year. View Rates by Deductible or Liability Limit

If you like to drive fast or tend to cause accidents, you are probably paying at least $2,100 to $2,800 extra per year, depending on your age. Insurance for high-risk drivers is expensive and can cost as much as 44% to 133% more than the average policy. View High Risk Driver Rates

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 $1,682 $140
BMW M3 CI 2-Dr Coupe $1,810 $151
BMW M3 2-Dr Convertible $1,810 $151

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.

BMW M3 Insurance Rates by Model Year
Model Year Comprehensive Collision Liability Total Premium
2024 BMW M3 $424 $810 $390 $1,782
2023 BMW M3 $406 $804 $398 $1,766
2022 BMW M3 $394 $784 $416 $1,752
2021 BMW M3 $380 $752 $430 $1,720
2020 BMW M3 $358 $726 $442 $1,684
2019 BMW M3 $344 $674 $452 $1,628
2018 BMW M3 $332 $634 $456 $1,580
2017 BMW M3 $318 $568 $460 $1,504
2016 BMW M3 $296 $522 $460 $1,436
2015 BMW M3 $286 $490 $464 $1,398
2013 BMW M3 $258 $424 $474 $1,314
2012 BMW M3 $252 $386 $478 $1,274
2011 BMW M3 $234 $354 $474 $1,220
2010 BMW M3 $220 $320 $474 $1,172
2009 BMW M3 $214 $288 $468 $1,128
2008 BMW M3 $210 $282 $460 $1,110
2006 BMW M3 $190 $254 $446 $1,048
2005 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 Cheap BMW M3 Insurance

Saving money on car insurance consists of being safe and accident-free, maintaining good credit, avoid buying unnecessary coverage, and dropping full coverage on older vehicles. Set aside time to compare rates every couple of years by quoting rates from direct insurance companies like GEICO and Progressive, and also from local exclusive and independent agents.

Below you'll find a brief summary of the material that was covered above.

  • Policyholders who may need more liability protection will pay approximately $440 annually to raise from a minimum limit to 250/500 limits
  • Youthful drivers pay higher rates, costing up to $532 per month for full coverage
  • Higher risk drivers that tend to have accidents or serious violations may pay on average $2,080 more every year than a low-risk driver
  • Increasing deductibles can save around $800 each year

Rates by Driver Age

BMW M3 Insurance Rates by Driver Age
Driver Age Premium
16 $6,388
20 $4,104
30 $1,864
40 $1,766
50 $1,610
60 $1,580

Full coverage, $500 deductibles

Rates by Deductible

BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,304
$250 $2,054
$500 $1,766
$1,000 $1,494

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,766
50/100 $1,890
100/300 $1,989
250/500 $2,248
100 CSL $1,929
300 CSL $2,148
500 CSL $2,308

Full coverage, driver age 40

Rates for High Risk Drivers

BMW M3 Insurance Rates for High Risk Drivers
Age Premium
16 $9,180
20 $6,530
30 $3,952
40 $3,842
50 $3,666
60 $3,636

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 $253

Potential Rate Discounts

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

Discount Savings
Multi-policy $96
Multi-vehicle $92
Homeowner $24
5-yr Accident Free $141
5-yr Claim Free $116
Paid in Full/EFT $88
Advance Quote $92
Online Quote $129
Total Discounts $778
Rate after discounts $988

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

Compare Rates and Save

Find companies with the cheapest rates in your area

Free Auto Insurance Comparison

Enter your zip code below to view companies that have cheap auto insurance rates.

secured lock Secured with SHA-256 Encryption

You May Also Enjoy These Articles