BMW M3 Insurance Rates

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UPDATED: May 4, 2024

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U.S. average auto insurance rates for a BMW M3 are $1,766 annually including full coverage. Comprehensive insurance costs an estimated $406, collision insurance costs $804, and liability is estimated at $398. Liability-only coverage costs approximately $460 a year, and high-risk coverage costs $3,842 or more. 16-year-old drivers pay the highest rates at up to $6,388 a year.

Average premium for full coverage: $1,766

Price estimates broken down by individual coverage:

Comprehensive $406
Collision $804
Liability $398

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

Price Range from Low to High

Using a middle-aged driver as an example, BMW M3 insurance prices range from as cheap as $460 for the bare minimum liability coverage to a much higher rate of $3,842 for a driver who requires high-risk insurance.

Liability Only $460
Full Coverage $1,766
High Risk $3,842

Geographic Price Range

Living in a larger city can make a big difference on the price of auto insurance. More rural locations have fewer comprehensive and collision claims than congested cities. The price range example below illustrates how where you live affects insurance prices.

Rural Areas $1,325
Small Cities $1,854
Large Cities $2,384

The ranges above highlight why anyone shopping for car insurance should get quotes for a targeted area and their own personal driving habits, instead of making a decision based on rate averages.

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.

Additional Rate Information

The chart below breaks down average BMW M3 insurance rates for other coverage scenarios.

  • The best full coverage rate is $988
  • Choosing higher $1,000 deductibles can save approximately $272 every year
  • The estimated rate for the average middle-age driver who has $500 deductibles is $1,766
  • Buying more expensive low deductibles for comp and collision coverage costs an additional $538 annually
  • Higher-risk drivers with multiple tickets or accidents could pay up to $3,842
  • The price with full coverage for a 16-year-old driver with full coverage can cost as much as $6,388 each year

View Chart as Image

BMW M3 insurance cost comparison chart
Column chart showing BMW M3 insurance prices range from $988 to $6,388 for full coverage

Auto insurance prices for a BMW M3 are also quite variable based on the trim level and model year, your driving characteristics, and liability limits and deductibles.

An older driver with a good driving record and high physical damage deductibles may pay as low as $1,600 annually on average for full coverage. Prices are highest for teenage drivers, where even without any violations or accidents they will have to pay at least $6,300 a year. View Rates by Age

If you have some driving violations or you caused a few accidents, you are likely paying $2,100 to $2,800 in extra premium each year, depending on your age. High-risk driver insurance ranges from 44% to 133% more than the average rate. View High Risk Driver Rates

Opting for high physical damage deductibles can save as much as $810 annually, while increasing your policy's liability limits will increase premiums. Changing from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $358 extra every year. View Rates by Deductible or Liability Limit

The state you live in plays a big part in determining prices for BMW M3 insurance prices. A good driver about age 40 could pay as low as $1,360 a year in states like Vermont, New Hampshire, and Missouri, or at least $2,520 on average in Louisiana, New York, and Michigan.

BMW M3 Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,598 -$168 -9.5%
Alaska $1,356 -$410 -23.2%
Arizona $1,468 -$298 -16.9%
Arkansas $1,766 -$0 0.0%
California $2,014 $248 14.0%
Colorado $1,688 -$78 -4.4%
Connecticut $1,818 $52 2.9%
Delaware $2,000 $234 13.3%
Florida $2,210 $444 25.1%
Georgia $1,632 -$134 -7.6%
Hawaii $1,270 -$496 -28.1%
Idaho $1,196 -$570 -32.3%
Illinois $1,320 -$446 -25.3%
Indiana $1,330 -$436 -24.7%
Iowa $1,194 -$572 -32.4%
Kansas $1,680 -$86 -4.9%
Kentucky $2,412 $646 36.6%
Louisiana $2,616 $850 48.1%
Maine $1,092 -$674 -38.2%
Maryland $1,458 -$308 -17.4%
Massachusetts $1,414 -$352 -19.9%
Michigan $3,070 $1,304 73.8%
Minnesota $1,480 -$286 -16.2%
Mississippi $2,120 $354 20.0%
Missouri $1,570 -$196 -11.1%
Montana $1,900 $134 7.6%
Nebraska $1,394 -$372 -21.1%
Nevada $2,120 $354 20.0%
New Hampshire $1,276 -$490 -27.7%
New Jersey $1,976 $210 11.9%
New Mexico $1,566 -$200 -11.3%
New York $1,862 $96 5.4%
North Carolina $1,018 -$748 -42.4%
North Dakota $1,448 -$318 -18.0%
Ohio $1,220 -$546 -30.9%
Oklahoma $1,818 $52 2.9%
Oregon $1,618 -$148 -8.4%
Pennsylvania $1,686 -$80 -4.5%
Rhode Island $2,358 $592 33.5%
South Carolina $1,602 -$164 -9.3%
South Dakota $1,492 -$274 -15.5%
Tennessee $1,548 -$218 -12.3%
Texas $2,130 $364 20.6%
Utah $1,308 -$458 -25.9%
Vermont $1,210 -$556 -31.5%
Virginia $1,058 -$708 -40.1%
Washington $1,366 -$400 -22.7%
West Virginia $1,622 -$144 -8.2%
Wisconsin $1,224 -$542 -30.7%
Wyoming $1,574 -$192 -10.9%

View Chart as Image

BMW M3 insurance rates by U.S. city

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 $1,682 $140
BMW M3 CI 2-Dr Coupe $1,810 $151
BMW M3 2-Dr Convertible $1,810 $151

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 $424 $810 $390 $1,782
2023 BMW M3 $406 $804 $398 $1,766
2022 BMW M3 $394 $784 $416 $1,752
2021 BMW M3 $380 $752 $430 $1,720
2020 BMW M3 $358 $726 $442 $1,684
2019 BMW M3 $344 $674 $452 $1,628
2018 BMW M3 $332 $634 $456 $1,580
2017 BMW M3 $318 $568 $460 $1,504
2016 BMW M3 $296 $522 $460 $1,436
2015 BMW M3 $286 $490 $464 $1,398
2013 BMW M3 $258 $424 $474 $1,314
2012 BMW M3 $252 $386 $478 $1,274
2011 BMW M3 $234 $354 $474 $1,220
2010 BMW M3 $220 $320 $474 $1,172
2009 BMW M3 $214 $288 $468 $1,128
2008 BMW M3 $210 $282 $460 $1,110
2006 BMW M3 $190 $254 $446 $1,048
2005 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 Buy More Affordable BMW M3 Insurance

Getting lower rates on insurance for a BMW M3 takes being a good driver, having above-average credit, being claim-free, and consideration of higher deductibles. Take the time to comparison shop at every other renewal by requesting quotes from direct car insurance companies like GEICO, Progressive, and Esurance, and also from insurance agencies where you live.

The following list is a summary of the concepts that were touched on in the above illustrations.

  • Drivers considered higher risk who have multiple accidents or major violations could be forced to pay on average $2,080 more annually than a safer driver
  • Drivers age 16 to 20 are the costliest to insure, possibly costing $532 a month if full coverage is included
  • You may be able to save approximately $220 per year just by shopping early and online
  • Increasing physical damage deductibles could save up to $800 each year
  • You may be able to save approximately $220 per year just by shopping early and online

Rates by Driver Age

BMW M3 Insurance Rates by Driver Age
Driver Age Premium
16 $6,388
20 $4,104
30 $1,864
40 $1,766
50 $1,610
60 $1,580

Full coverage, $500 deductibles

Rates by Deductible

BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,304
$250 $2,054
$500 $1,766
$1,000 $1,494

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,766
50/100 $1,890
100/300 $1,989
250/500 $2,248
100 CSL $1,929
300 CSL $2,148
500 CSL $2,308

Full coverage, driver age 40

Rates for High Risk Drivers

BMW M3 Insurance Rates for High Risk Drivers
Age Premium
16 $9,180
20 $6,530
30 $3,952
40 $3,842
50 $3,666
60 $3,636

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 $253

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 $141
5-yr Claim Free $116
Paid in Full/EFT $88
Advance Quote $92
Online Quote $129
Total Discounts $778
Rate after discounts $988

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

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