BMW M3 Insurance Rates

U.S. average auto insurance rates for a BMW M3 are $1,752 annually including full coverage. Comprehensive insurance costs on average $394, collision insurance costs $784, and liability is $416. Buying just liability costs around $474 a year, and insurance for high-risk drivers costs $3,814 or more. Teenage drivers pay the highest rates at up to $6,376 a year.

Average premium for full coverage: $1,752

Price estimates by individual coverage:

These estimates include $500 comprehensive and collision deductibles, liability coverage up to 30/60, and includes UM/UIM and medical 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

Choosing to live in a large city can have significant affects on car insurance rates. Rural areas have fewer comprehensive and collision claims than densely populated cities. The price range example below illustrates the difference between rural and urban areas on car insurance rates.

The ranges above highlight why anyone shopping for car insurance should compare rates quotes based on a specific location and their own personal driving habits, instead of using average rates.

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

Rates by State, City, and Model

The chart below breaks down average BMW M3 insurance rates for different risk profiles and scenarios.

• The best discount rate is $979
• Raising to $1,000 deductibles will save around $268 every year
• The estimated rate for the average middle-age driver with $500 deductibles is $1,752
• Using more expensive low deductibles costs an additional $520 every year
• At-risk drivers who are prone to accidents and violations could pay upwards of $3,814
• The price with full coverage for a teen driver with full coverage may cost $6,376

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

An older driver with no violations or accidents and high physical damage deductibles may pay as little as $1,600 every 12 months on average for full coverage. Prices are much higher for teenage drivers, where even without any violations or accidents they should be prepared to pay upwards of $6,300 a year. View Rates by Age

If you have some driving violations or you caused a few accidents, you are likely paying at a minimum $2,100 to $2,800 additional each year, depending on your age. High-risk driver insurance is expensive and can cost as much as 44% to 134% more than a normal policy. View High Risk Driver Rates

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

The state you live in also has a big influence on BMW M3 insurance prices. A middle-age driver might find prices as low as $1,340 a year in states like Missouri, New Hampshire, and Vermont, or be forced to pay as much as $2,500 on average in Michigan, New York, and Louisiana.

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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 Buy Cheap BMW M3 Insurance

Getting lower rates on car insurance consists of having a decent driving record, having good credit, being claim-free, and dropping full coverage on older vehicles. Set aside time to compare rates every time your policy renews by requesting rates from direct car insurance companies like GEICO, Progressive, and Esurance, and also from several local insurance agents.

The following items are a brief summary of the information covered above.

• You may be able to save as much as $220 per year just by shopping early and online
• 16 to 18-year-old drivers pay higher prices, possibly costing $531 a month if they have full coverage
• Increasing physical damage deductibles could save up to $800 each year
• Higher risk drivers that tend to have accidents or serious violations pay on average $2,060 more each year than a driver with a clean driving record
• Policyholders who require additional liability coverage will pay an extra $460 per year to raise from a low limit to higher 250/500 limits