BMW M3 Insurance Rates
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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
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Average insurance prices for a BMW M3 are $1,752 every 12 months with full coverage. Comprehensive costs on average $394 each year, collision costs $784, and liability coverage is $416. Liability-only coverage costs around $474 a year, with high-risk coverage costing around $3,814. Teen drivers receive the highest rates at $6,376 a year or more.
Average premium for full coverage: $1,752
Rate estimates by individual coverage type:
Prices are based on $500 comprehensive and collision deductibles, 30/60 liability coverage, and includes medical/PIP and uninsured motorist coverage. Rates are averaged for all U.S. states and M3 models.
Price Range by Coverage and Risk
For an average driver, prices range go from the cheapest price of $474 for liability-only coverage to a high rate of $3,814 for a policy for a high-risk driver.
Price Range by Location
Choosing to live in a large city has a large influence on auto insurance rates. Rural areas tend to have more infrequent collision claims than larger metro areas.
The graphic below illustrates the effect of geographic area on car insurance rates.
These examples demonstrate why all drivers should compare rates quotes based on a specific location and their own driving history, 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 details estimated BMW M3 insurance rates for different risk profiles and scenarios.
- The lowest rate with discounts is $979
- Raising to $1,000 deductibles will save around $268 annually
- The average price for a 40-year-old driver with $500 deductibles is $1,752
- Choosing low deductibles increases the price to $2,272
- Unlucky drivers with multiple violations and an at-fault accident could pay upwards of $3,814 or more
- The cost to insure a teenage driver may cost $6,376
Car insurance rates for a BMW M3 can also vary considerably based on policy deductibles and limits, your driving record, and the trim level of your M3.
Choosing high deductibles can reduce rates by up to $790 a year, whereas increasing liability limits will cost you more. Moving from a 50/100 liability limit to a 250/500 limit will cost as much as $375 extra every 12 months. View Rates by Deductible or Liability Limit
More mature drivers with no driving violations and higher deductibles may only pay around $1,600 every 12 months on average for full coverage. Rates are highest for teen drivers, since even excellent drivers will be charged upwards of $6,300 a year. View Rates by Age
If you like to drive fast or you were responsible for an accident, you may be forking out at a minimum $2,100 to $2,800 extra per year, depending on your age. Insurance for high-risk drivers is expensive and can cost around 44% to 134% more than average. View High Risk Driver Rates
Where you live also has a big influence on BMW M3 insurance rates. A middle-age driver might find rates as low as $1,260 a year in states like New Hampshire, Ohio, and Utah, or as much as $2,360 on average in Florida, Michigan, and New York.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,584 | -$168 | -9.6% |
| Alaska | $1,346 | -$406 | -23.2% |
| Arizona | $1,454 | -$298 | -17.0% |
| Arkansas | $1,752 | -$0 | 0.0% |
| California | $1,996 | $244 | 13.9% |
| Colorado | $1,676 | -$76 | -4.3% |
| Connecticut | $1,802 | $50 | 2.9% |
| Delaware | $1,982 | $230 | 13.1% |
| Florida | $2,192 | $440 | 25.1% |
| Georgia | $1,618 | -$134 | -7.6% |
| Hawaii | $1,258 | -$494 | -28.2% |
| Idaho | $1,186 | -$566 | -32.3% |
| Illinois | $1,304 | -$448 | -25.6% |
| Indiana | $1,320 | -$432 | -24.7% |
| Iowa | $1,184 | -$568 | -32.4% |
| Kansas | $1,666 | -$86 | -4.9% |
| Kentucky | $2,390 | $638 | 36.4% |
| Louisiana | $2,594 | $842 | 48.1% |
| Maine | $1,080 | -$672 | -38.4% |
| Maryland | $1,446 | -$306 | -17.5% |
| Massachusetts | $1,400 | -$352 | -20.1% |
| Michigan | $3,042 | $1,290 | 73.6% |
| Minnesota | $1,466 | -$286 | -16.3% |
| Mississippi | $2,098 | $346 | 19.7% |
| Missouri | $1,554 | -$198 | -11.3% |
| Montana | $1,884 | $132 | 7.5% |
| Nebraska | $1,382 | -$370 | -21.1% |
| Nevada | $2,100 | $348 | 19.9% |
| New Hampshire | $1,264 | -$488 | -27.9% |
| New Jersey | $1,958 | $206 | 11.8% |
| New Mexico | $1,550 | -$202 | -11.5% |
| New York | $1,846 | $94 | 5.4% |
| North Carolina | $1,010 | -$742 | -42.4% |
| North Dakota | $1,434 | -$318 | -18.2% |
| Ohio | $1,212 | -$540 | -30.8% |
| Oklahoma | $1,798 | $46 | 2.6% |
| Oregon | $1,604 | -$148 | -8.4% |
| Pennsylvania | $1,670 | -$82 | -4.7% |
| Rhode Island | $2,336 | $584 | 33.3% |
| South Carolina | $1,586 | -$166 | -9.5% |
| South Dakota | $1,480 | -$272 | -15.5% |
| Tennessee | $1,534 | -$218 | -12.4% |
| Texas | $2,112 | $360 | 20.5% |
| Utah | $1,296 | -$456 | -26.0% |
| Vermont | $1,198 | -$554 | -31.6% |
| Virginia | $1,050 | -$702 | -40.1% |
| Washington | $1,356 | -$396 | -22.6% |
| West Virginia | $1,606 | -$146 | -8.3% |
| Wisconsin | $1,212 | -$540 | -30.8% |
| Wyoming | $1,560 | -$192 | -11.0% |
With so much variability in rates, the best way to find out exactly what you will pay is to do a rate comparison and see how they stack up. Every auto insurance company uses a different rate calculation, so rate quotes can be significantly different.
Insurance Rates by Trim Level and Model Year
| Model and Trim | Annual Premium | Monthly Premium |
|---|---|---|
| BMW M3 4-Dr Sedan | $1,668 | $139 |
| BMW M3 CI 2-Dr Coupe | $1,794 | $150 |
| BMW M3 2-Dr Convertible | $1,794 | $150 |
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.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 BMW M3 | $406 | $804 | $398 | $1,766 |
| 2023 BMW M3 | $394 | $784 | $416 | $1,752 |
| 2022 BMW M3 | $380 | $752 | $430 | $1,720 |
| 2021 BMW M3 | $358 | $726 | $442 | $1,684 |
| 2020 BMW M3 | $344 | $674 | $452 | $1,628 |
| 2019 BMW M3 | $332 | $634 | $456 | $1,580 |
| 2018 BMW M3 | $318 | $568 | $460 | $1,504 |
| 2017 BMW M3 | $296 | $522 | $460 | $1,436 |
| 2016 BMW M3 | $286 | $490 | $464 | $1,398 |
| 2015 BMW M3 | $280 | $458 | $474 | $1,370 |
| 2013 BMW M3 | $252 | $386 | $478 | $1,274 |
| 2012 BMW M3 | $234 | $354 | $474 | $1,220 |
| 2011 BMW M3 | $220 | $320 | $474 | $1,172 |
| 2010 BMW M3 | $214 | $288 | $468 | $1,128 |
| 2009 BMW M3 | $210 | $282 | $460 | $1,110 |
| 2008 BMW M3 | $206 | $268 | $452 | $1,084 |
| 2006 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 Shop for Affordable BMW M3 Insurance
Saving money on auto insurance consists of avoiding accidents and violations, maintaining a good credit score, eliminating unnecessary coverage, and maximizing policy discounts. Take the time to compare rates every year by getting quotes from direct companies like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.
The list below is a brief review of the coverage data covered in the above illustrations.
- You may be able to save as much as $220 per year simply by quoting online in advance
- Increasing deductibles could save as much as $800 each year
- Teenagers are expensive to insure, with premiums as much as $531 per month if the policy includes full coverage
- Drivers with DUI or reckless driving convictions may pay on average $2,060 more each year for car insurance
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,376 |
| 20 | $4,070 |
| 30 | $1,842 |
| 40 | $1,752 |
| 50 | $1,596 |
| 60 | $1,568 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,272 |
| $250 | $2,030 |
| $500 | $1,752 |
| $1,000 | $1,484 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,752 |
| 50/100 | $1,877 |
| 100/300 | $1,981 |
| 250/500 | $2,252 |
| 100 CSL | $1,919 |
| 300 CSL | $2,148 |
| 500 CSL | $2,314 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,154 |
| 20 | $6,484 |
| 30 | $3,916 |
| 40 | $3,814 |
| 50 | $3,638 |
| 60 | $3,608 |
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 | $96 |
| Multi-vehicle | $92 |
| Homeowner | $24 |
| 5-yr Accident Free | $139 |
| 5-yr Claim Free | $116 |
| Paid in Full/EFT | $87 |
| Advance Quote | $91 |
| Online Quote | $128 |
| Total Discounts | $773 |
Discounts are estimated and may not be available from every company or in every state.
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