BMW M3 Insurance Rates

U.S. average insurance rates for a BMW M3 are $1,752 a year with full coverage. Comprehensive insurance costs on average $394, collision costs $784, and liability costs around $416. Liability-only coverage costs as low as $474 a year, with high-risk coverage 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:

Prices are based on $500 comprehensive and collision deductibles, 30/60 bodily injury liability limits, and includes medical and UM/UIM coverage. Estimates are averaged for all 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 auto insurance rates. Rural areas have lower incidents of collision claims than densely populated cities.

The example below illustrates how location helps determine car insurance rates.

The ranges above demonstrate why everyone should compare prices based on a specific location, instead of making a decision based on average rates.

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

More Rate Details

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

• The best discount rate is $979
• Using higher $1,000 deductibles will save around $268 annually
• The estimated price for the average middle-age driver with $500 deductibles is $1,752
• Using pricier low deductibles for physical damage coverage will cost an additional $520 annually
• High-risk insureds who are prone to accidents and violations could pay upwards of $3,814 or more
• The price that insures a 16-year-old driver for full coverage may cost $6,376 or more

View Chart as Image

Auto insurance prices for a BMW M3 are also quite variable based on the model of your M3, your age and driving habits, and policy deductibles and limits.

If you have some driving violations or you caused an accident, you may be forking out at a minimum $2,100 to $2,800 in extra premium each year, depending on your age. BMW M3 insurance for high-risk drivers can be from 44% to 134% more than a normal policy. View High Risk Driver Rates

A more mature driver with a good driving record and higher comprehensive and collision deductibles may pay as low as $1,600 a year for full coverage. Prices are much higher for teenage drivers, since even teens with perfect driving records will have to pay upwards 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 $1,260 a year in states like New Hampshire, Ohio, and Utah, or be forced to pay as much as $2,360 on average in Florida, Michigan, and New York.

View Chart as Image

Using high physical damage deductibles could cut prices by as much as $790 annually, whereas buying more liability protection will cost you more. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $375 extra every year. View Rates by Deductible or Liability Limit

Since prices can be so different, the best way to find out exactly what you will pay is to regularly compare prices from multiple companies. Each insurance company uses a different method to calculate prices, and quoted 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 Find Affordable BMW M3 Insurance

Getting lower rates on insurance for a BMW M3 requires avoiding accidents and violations, maintaining a good credit score, avoid buying unnecessary coverage, and taking advantage of discounts. Compare prices at every other renewal by obtaining price quotes from direct companies, and also from several local insurance agents.

The list below is a brief review of the concepts that were covered in the charts and tables above.

• Drivers considered higher risk with DUI or reckless driving convictions pay on average $2,060 more each year for car insurance
• Teenagers are charged the highest prices, costing up to $531 a month if the policy includes full coverage
• You may be able to save as much as $220 per year simply by quoting online well ahead of the renewal date
• Increasing physical damage deductibles can save approximately $800 each year
• You may be able to save as much as $220 per year simply by quoting online well ahead of the renewal date