BMW M3 Insurance Rates

U.S. average insurance prices for a BMW M3 are $1,752 every 12 months including full coverage. Comprehensive insurance costs on average $394 a year, collision costs $784, and liability coverage is estimated at $416. Buying just liability costs approximately $474 a year, with insurance for high-risk drivers costing $3,814 or more. Teenage drivers pay the highest rates at $6,376 a year or more.

Average premium for full coverage: $1,752

Price estimates by individual coverage:

Full coverage includes $500 deductible amounts, 30/60 bodily injury liability limits, and includes medical/PIP and uninsured motorist coverage. Estimates are averaged for all 50 U.S. states and M3 trim levels.

Price Range from Low to High

Geographic Price Range

Living in a larger city has a large influence on car insurance rates. Rural areas have more infrequent comprehensive and collision claims than densely populated cities.

The diagram below illustrates how location impacts car insurance rates.

The ranges above highlight why it is important to get quotes based on a specific location and their own driving history, rather than using average rates.

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

Additional Charts and Tables

The chart below breaks down estimated BMW M3 insurance rates for different risk profiles and scenarios.

• The best discount rate is $979
• Choosing higher $1,000 deductibles can save around $1,484 every year
• The average price for the average middle-age driver with $500 deductibles is $1,752
• Using low $100 deductibles for comp and collision coverage costs an extra $520 each year
• Drivers who are prone to accidents and violations could pay upwards of $3,814 or more
• The price to insure a teenage driver may cost $6,376 each year

View Chart as Image

Insurance prices for a BMW M3 are also quite variable based on deductibles and policy limits, your driving characteristics, and the trim level of your M3.

Using high physical damage deductibles can save as much as $790 a year, while buying higher liability limits will cost you more. Changing from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $375 more each year. View Rates by Deductible or Liability Limit

Older drivers with no violations or accidents and higher deductibles may only pay around $1,600 annually on average for full coverage. Prices are much higher for teenage drivers, since even excellent drivers should be prepared to pay upwards of $6,300 a year. View Rates by Age

If you have some driving violations or you were responsible for an accident, you are likely paying at a minimum $2,100 to $2,800 additional each year, depending on your age. A high-risk auto insurance policy ranges around 44% to 134% more than a normal policy. View High Risk Driver Rates

The state you live in plays a big part in determining prices for BMW M3 insurance rates. A good driver about age 40 could pay as low as $1,340 a year in states like Missouri, New Hampshire, and Vermont, or be forced to pay as much as $2,500 on average in Michigan, New York, and Louisiana.

View Chart as Image

Since prices can be so different, the best way to figure out exactly what you will pay is to get quotes and see how they stack up. Each auto insurer uses a different method to calculate prices, and prices may be quite different.

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 Shop for More Affordable BMW M3 Insurance

Getting lower rates on auto insurance takes having a good driving record, having above-average credit, being claim-free, and insuring your home and auto with the same company. Spend time shopping around at every other renewal by getting rate quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from your local independent and exclusive agents.

The next list is a summary of the concepts that were touched on above.

• Drivers who have multiple accidents or major violations may pay on average $2,060 more each year to buy BMW M3 insurance
• Drivers age 20 and younger pay higher prices, possibly costing $531 a month if full coverage is included
• You may be able to save as much as $220 per year simply by quoting early and online
• Increasing physical damage deductibles could save as much as $800 each year
• You may be able to save as much as $220 per year simply by quoting early and online