BMW M3 Insurance Rates

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UPDATED: May 4, 2024

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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:

Comprehensive $394
Collision $784
Liability $416

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

For a driver in their 40's, BMW M3 insurance prices go from the low end price of $474 for just liability coverage to a much higher rate of $3,814 for a high-risk insurance policy.

Liability Only $474
Full Coverage $1,752
High Risk $3,814

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.

Rural Areas $1,314
Small Cities $1,840
Large Cities $2,365

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.

Enter your zip code below to view companies based on your location that have cheap auto insurance rates.

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

BMW M3 insurance cost comparison chart
Column chart showing full coverage BMW M3 insurance rates range from $979 to $6,376

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.

BMW M3 Insurance Rates by State
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%

View Chart as Image

BMW M3 insurance rates by U.S. city

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

BMW M3 Insurance Rates by Model and Trim Level
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.

BMW M3 Insurance Rates by Model Year
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 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

Rates by Driver Age

BMW M3 Insurance 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

BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,272
$250 $2,030
$500 $1,752
$1,000 $1,484

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
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

BMW M3 Insurance 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.

SR-22 Surcharge $251

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
Rate after discounts $979

Discounts are estimated and may not be available from every company or in every state.

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