BMW M3 Insurance Rates

Estimated auto insurance rates for a BMW M3 are $1,752 annually for full coverage insurance. Comprehensive insurance costs approximately $394, collision costs $784, and liability costs $416. Liability-only insurance costs as little as $474 a year, with high-risk driver insurance costing $3,814 or more. Teens pay the most at $6,376 a year or more.

Average premium for full coverage: $1,752

Premium estimates by type of coverage:

Prices are based on $500 policy deductibles, minimum liability limits, and includes medical and uninsured motorist coverage. Rates include averaging for all 50 states and for all M3 models.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Your location can have significant affects on the price of auto insurance. Rural locations are statistically proven to have fewer physical damage claims than cities with more traffic congestion.

The example below illustrates how rural and urban location affects auto insurance prices.

These rate differences illustrate why everyone should compare rates using their specific location and their own personal driving habits, instead of using averaged prices.

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

Detailed Rate Analysis

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

• The cheapest rate after discounts is $979
• Drivers who choose higher $1,000 deductibles will pay $268 each year
• The estimated rate for a 40-year-old good driver who chooses $500 deductibles is $1,752
• Selecting pricier low deductibles for comprehensive and collision insurance costs an additional $520 every year
• Higher-risk drivers with serious driving violations could pay around $3,814 or more
• An auto insurance policy with full coverage for a teen driver for full coverage can cost $6,376 a year

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Insurance prices for a BMW M3 also have a wide range based on the model of your M3, your risk profile, and physical damage deductibles and liability limits.

A more mature driver with no violations or accidents and high physical damage deductibles may pay as little as $1,600 per year on average, or $133 per month, for full coverage. Prices are much higher for drivers in their teens, where even without any violations or accidents they should be prepared to pay in the ballpark of $6,300 a year. View Rates by Age

If you have a few violations or you caused a few accidents, you are probably paying anywhere from $2,100 to $2,800 additional annually, depending on your age. BMW M3 insurance for high-risk drivers can cost as much as 44% to 134% more than the average policy. View High Risk Driver Rates

Choosing higher comprehensive and collision insurance deductibles could save up to $790 every year, whereas buying more liability protection will push prices upward. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost up to $375 more each year. View Rates by Deductible or Liability Limit

Where you choose to live makes a big difference in BMW M3 insurance prices. A 40-year-old driver could pay as low as $1,140 a year in states like North Carolina, Wisconsin, and Vermont, or have to pay at least $2,360 on average in Florida, New York, and Michigan.

View Chart as Image

With such a large range in prices, the only way to figure out who has the best car insurance prices is to regularly compare prices and see which company has the best price. Every company calculates prices differently, and prices will be substantially different between companies.

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 Affordable BMW M3 Insurance

Finding better rates on car insurance not only requires being a good driver, but also having good credit, paying for small claims out-of-pocket, and qualifying for all possible discounts. Set aside time to shop around every couple of years by getting rate quotes from direct insurance companies, and also from insurance agencies where you live.

The following list is a brief review of the material that was raised in the charts and tables above.

• Policyholders who purchase an increased level of liability coverage will pay approximately $460 annually to go from 30/60 bodily injury limits to higher 250/500 limits
• Drivers age 16 to 20 are the costliest to insure, with premiums being up to $531 per month if they have full coverage
• Higher risk drivers with DUI or reckless driving convictions could be forced to pay on average $2,060 more per year than a safer driver
• Increasing policy deductibles could save up to $800 each year