BMW M3 Insurance Rates

U.S. average insurance rates for a BMW M3 are $1,752 a year including full coverage. Comprehensive costs approximately $394, collision costs $784, and liability costs around $416. A policy with just liability insurance costs as low as $474 a year, with coverage for high-risk drivers costing around $3,814. Teens pay the highest rates at $6,376 a year or more.

Average premium for full coverage: $1,752

Price estimates by individual coverage:

These estimates include $500 deductibles, liability coverage up to 30/60, and includes medical/PIP and uninsured motorist coverage. Estimates are averaged for all 50 U.S. states and for all M3 models.

Price Range from Low to High

Geographic Price Range

Where you live can make a big difference on car insurance prices. Rural locations have a lower frequency of comprehensive and collision claims than cities with more traffic congestion.

The example below illustrates the difference location can make on auto insurance prices.

The ranges above highlight why everyone should compare prices using their specific location and risk profile, instead of making a decision based on averaged prices.

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 additional coverage and risk scenarios.

• The cheapest rate after discounts is $979
• Using higher $1,000 deductibles will save $268 every year
• The average rate for the average middle-age driver who chooses $500 deductibles is $1,752
• Selecting pricier low deductibles for physical damage coverage will increase the cost to $2,272
• High-risk insureds with serious driving violations could pay around $3,814 or more
• The price for full coverage for a 16-year-old driver for full coverage can cost $6,376 or more

View Chart as Image

Insurance prices for a BMW M3 are also quite variable based on your driving record, the model of your M3, and physical damage deductibles and liability limits.

A more mature driver with a clean driving record and high deductibles may pay as low as $1,600 a year for full coverage. Prices are much higher for teenage drivers, where even good drivers can expect to pay in the ballpark of $6,300 a year. View Rates by Age

The state you live in has a huge impact on BMW M3 insurance prices. A driver around age 40 might see prices as low as $1,340 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,500 on average in Louisiana, New York, and Michigan.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles could cut prices by as much as $790 annually, whereas buying more liability protection will push prices upward. Changing from a 50/100 limit to a 250/500 limit will increase prices by as much as $375 more per year. View Rates by Deductible or Liability Limit

If you have some driving violations or tend to cause accidents, you are likely paying anywhere from $2,100 to $2,800 extra each year, depending on your age. BMW M3 insurance for high-risk drivers can be from 44% to 134% more than the average policy. View High Risk Driver Rates

Since prices can be so different, the best way to figure out who has the best auto insurance prices is to regularly compare prices from multiple companies. Each insurance company calculates prices differently, so the prices may be quite different from one company to the next.

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 Find Cheap BMW M3 Insurance

Getting lower rates on insurance for a BMW M3 requires not taking risks behind the wheel, maintaining good credit, being claim-free, and maximizing policy discounts. Make time to compare rates every time your policy renews by requesting quotes from direct car insurance companies like Progressive and GEICO, and also from insurance agencies where you live.

The following is a brief summary of the information touched on in this article.

• You may be able to save around $220 per year simply by quoting online well ahead of the renewal date
• Teens are expensive to insure, possibly costing $531 a month for full coverage
• Increasing physical damage deductibles can save around $800 each year
• Drivers considered higher risk that tend to have accidents or serious violations could be forced to pay on average $2,060 more per year for M3 insurance
• Insureds who purchase higher liability limits will pay approximately $460 per year to increase from a low limit to 250/500 limits