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 coverage is estimated at $416. Buying just liability costs approximately $474 a year, with insurance for high-risk drivers costing around $3,814. 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 include $500 policy deductibles, 30/60 split liability limits, and includes medical and uninsured motorist coverage. Estimates are averaged for all 50 U.S. states and for different M3 trim levels.

Price Range from Low to High

Geographic Price Range

Living in a larger city has a large influence on car insurance prices. Rural locations have lower incidents of comprehensive and collision claims than densely populated cities.

The price range example below illustrates how location helps determine auto insurance prices.

The ranges above highlight why anyone shopping for car insurance should get quotes using their specific location, rather than using average rates.

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

Detailed Rate Analysis

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

• The best discount rate is $979
• Choosing higher $1,000 deductibles can save $268 every year
• The estimated price for the average middle-age driver who chooses $500 deductibles is $1,752
• Using more expensive low deductibles for comp and collision coverage bumps up the cost to $2,272
• Drivers who are prone to accidents and violations could pay around $3,814 or more
• The price that insures a teenage driver with full coverage can cost $6,376 each year

View Chart as Image

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

If you have some driving violations or you caused an accident, you are likely paying anywhere from $2,100 to $2,800 additional each year, depending on your age. High-risk driver insurance ranges around 44% to 134% more than a normal policy. View High Risk Driver Rates

An older driver with no violations or accidents and higher comprehensive and collision deductibles may only pay around $1,600 annually on average for full coverage. Prices are much higher for teenage drivers, since even teens with perfect driving records should be prepared to pay in the ballpark of $6,300 a year. View Rates by Age

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 Vermont, New Hampshire, and Missouri, or be forced to pay as much as $2,500 on average in Louisiana, New York, and Michigan.

View Chart as Image

Using high physical damage deductibles can save as much as $790 a year, while increasing your policy's liability limits will push prices upward. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $375 more each year. View Rates by Deductible or Liability Limit

Since prices can be so different, the best way to figure out who has the best auto insurance prices is to compare prices 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 Find the Right BMW M3 Insurance

Getting lower rates on auto insurance takes avoiding accidents and claims, having a good credit score, being claim-free, and qualifying for all possible discounts. Compare prices at least every other year by requesting quotes from direct car insurance companies, and also from local auto insurance providers.

The points below are a quick rundown of the car insurance concepts covered in the charts and tables above.

• Drivers with reckless driving or DUI convictions will likely pay on average $2,060 more per year to insure a BMW M3
• You may be able to save around $220 per year simply by shopping early and online
• Increasing physical damage deductibles can save approximately $800 each year
• Consumers who purchase increased liability limits will pay an extra $460 per year to raise limits from a low limit to the 250/500 level