BMW M3 Insurance Rates

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

Average premium for full coverage: $1,752

Premium estimates by type of coverage:

Prices include $500 comprehensive and collision deductibles, liability coverage up to 30/60, and includes UM/UIM and medical coverage. Rates include averaging for all U.S. states and M3 trim levels.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Where you live can have significant affects on the price of insurance. Rural locations are statistically proven to have fewer collision claims than cities with more traffic congestion.

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

These rate differences demonstrate why it is important to compare prices using their specific location and their own personal driving habits, instead of using averaged prices.

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

Rates by State, City, and Model

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

• The cheapest rate after discounts is $979
• Using higher $1,000 deductibles will save $1,484 annually
• The estimated rate for a 40-year-old good driver who chooses $500 deductibles is $1,752
• Selecting low $100 deductibles for physical damage coverage will cost $2,272
• Drivers with serious driving violations could pay around $3,814 or more
• An auto insurance policy with full coverage for a teen driver can cost $6,376 or more

View Chart as Image

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

Older drivers with a clean driving record and high physical damage deductibles may pay as little as $1,600 a year, 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 may be forking out anywhere from $2,100 to $2,800 extra annually, depending on your age. A high-risk auto insurance policy can be as much as 44% to 134% more than the average policy. View High Risk Driver Rates

Choosing higher comprehensive and collision insurance deductibles could cut prices by as much as $790 every year, while buying higher liability limits will push prices upward. Moving 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 has a huge impact on BMW M3 insurance prices. A driver around age 40 might see prices as low as $1,260 a year in states like Utah, Ohio, and New Hampshire, or have to pay at least $2,360 on average in New York, Michigan, and Florida.

View Chart as Image

With such a large range in prices, the best way to find out who has the cheapest auto insurance prices is to get quotes and see which company has the best price. Each insurance company calculates prices differently, 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 Right BMW M3 Insurance

Finding better rates on car insurance requires having a decent driving record, having a good credit history, being claim-free, and maximizing policy discounts. Set aside time to compare rates every time your policy renews by requesting rates from direct companies, and also from your local independent and exclusive agents.

The following items are a quick rundown of the information covered above.

• You may be able to save around $220 per year simply by quoting early and online
• 16 to 18-year-old drivers are expensive to insure, possibly costing $531 per month including comprehensive and collision insurance
• Increasing policy deductibles could save up to $800 each year
• Higher risk drivers with reckless driving or DUI convictions may pay on average $2,060 more per year than a driver with a clean driving record
• Policyholders who purchase additional liability coverage will pay approximately $460 every year to increase from 30/60 bodily injury limits to higher 250/500 limits