BMW M3 Insurance Rates
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Michelle Robbins
Licensed Insurance Agent
Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
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UPDATED: May 4, 2024
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Estimated auto insurance rates for a BMW M3 are $1,752 annually including full coverage. Comprehensive costs on average $394 a year, collision insurance costs $784, and liability coverage is $416. Liability-only coverage costs around $474 a year, and high-risk coverage costs around $3,814. Teen drivers pay the most at up to $6,376 a year.
Average premium for full coverage: $1,752
Premium estimates by type of coverage:
Full coverage includes $500 deductibles, liability coverage up to 30/60, and includes both medical and UM/UIM coverage. Rates include averaging for all 50 U.S. states and M3 trim levels.
Insurance Price Range by Risk and Coverage
For a driver around age 40, insurance rates for a BMW M3 range from as cheap as $474 for basic liability insurance to a high of $3,814 for a high-risk driver policy.
Insurance Price Range by Location
Choosing to live in a large city has a large influence on car insurance rates. Rural areas are statistically proven to have fewer comprehensive and collision claims than larger metro areas. The diagram below illustrates the difference between rural and urban areas on car insurance rates.
These rate differences highlight why it is important to compare rates quotes based on a specific location and their own personal driving habits, rather than using price 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.
Rate Comparisons
The chart below breaks down average BMW M3 insurance rates for different risk profiles and scenarios.
- The lowest rate with discounts is $979
- Raising to $1,000 deductibles will save around $1,484 every year
- The estimated rate for a 40-year-old good driver with $500 deductibles is $1,752
- Choosing low $100 deductibles will cost $2,272
- Unlucky drivers with multiple violations and an at-fault accident could pay upwards of $3,814
- An auto insurance policy with full coverage for a teenage driver may cost $6,376
Insurance prices for a BMW M3 also have a wide range based on the model of your M3, your driving characteristics, and policy deductibles and limits.
Older drivers with a clean driving record and high physical damage deductibles may only pay around $1,600 every 12 months on average, or $133 per month, for full coverage. Prices are highest for drivers in their teens, where even without any violations or accidents they can expect to pay upwards of $6,300 a year. View Rates by Age
If you have a few violations or you caused a few accidents, you are likely paying at a minimum $2,100 to $2,800 extra annually, depending on your age. A high-risk auto insurance policy is expensive and can cost around 44% to 134% more than average. View High Risk Driver Rates
Choosing high deductibles can reduce prices by up to $790 a year, while buying higher liability limits will cost you more. Changing from a 50/100 bodily injury limit to a 250/500 limit will cost up to $375 more per year. View Rates by Deductible or Liability Limit
Where you choose to live also has a big influence on BMW M3 insurance rates. A middle-age driver might find prices as low as $1,340 a year in states like Missouri, New Hampshire, and Vermont, or as much as $2,500 on average in Michigan, New York, and Louisiana.
| 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% |
Insurance Rates by Trim Level and Model Year
| 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.
| 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 Buy More Affordable BMW M3 Insurance
Finding better rates on auto insurance consists of not taking risks behind the wheel, having a good credit history, refrain from filing small claims, and determing if full coverage is necessary. Set aside time to compare rates every time your policy renews by getting price quotes from direct car insurance companies, and also from several local insurance agents.
The following is a summary of the information covered above.
- You may be able to save as much as $220 per year just by quoting early and online
- Teens pay the highest prices, with the cost nearing $531 per month including comprehensive and collision insurance
- Increasing policy deductibles could save up to $800 each year
- Drivers who have multiple accidents or major violations pay on average $2,060 more each year for M3 insurance
- Consumers who require higher liability limits will pay about $460 per year to raise from 30/60 bodily injury limits to higher 250/500 limits
Rate Tables and Charts
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
| Deductible | Premium |
|---|---|
| $100 | $2,272 |
| $250 | $2,030 |
| $500 | $1,752 |
| $1,000 | $1,484 |
Full coverage, driver age 40
Rates by Liability Limit
| 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
| 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.
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 |
Discounts are estimated and may not be available from every company or in every state.
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