BMW M3 Insurance Rates

U.S. average insurance rates for a BMW M3 are $1,766 a year for full coverage. Comprehensive costs on average $406, collision costs $804, and liability costs around $398. Buying just liability costs as low as $460 a year, with insurance for high-risk drivers costing around $3,842. Teens pay the highest rates at $6,388 a year or more.

Average premium for full coverage: $1,766

Price estimates by individual coverage:

Prices are based on $500 policy deductibles, split liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Estimates are averaged for all states and for different M3 trim levels.

Price Range from Low to High

Geographic Price Range

Where you live can make a big difference on car insurance rates. Rural areas have lower incidents of accident claims than cities with more traffic congestion.

The price range example below illustrates how your location can change car insurance rates.

The ranges above show why anyone shopping for car insurance should compare prices based on a specific location, instead of making a decision based on averaged prices.

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

Additional Charts and Tables

The chart below shows estimated BMW M3 insurance rates for different risk profiles and scenarios.

• The cheapest rate after discounts is $988
• Using higher $1,000 deductibles will save around $272 a year
• The estimated price for the average middle-age driver with $500 deductibles is $1,766
• Selecting more expensive low deductibles for physical damage coverage bumps up the cost to $2,304
• High-risk insureds with serious driving violations could pay upwards of $3,842 or more
• The price that insures a 16-year-old driver with full coverage may cost $6,388 or more

View Chart as Image

Insurance prices for a BMW M3 are also quite variable based on the model year and trim level, how you drive, and policy deductibles and limits.

If you have some driving violations or you caused an accident, you could be paying at a minimum $2,100 to $2,800 additional each year, depending on your age. High-risk driver insurance can be from 44% to 133% more than the average policy. View High Risk Driver Rates

An older driver with no violations or accidents and higher comprehensive and collision deductibles may pay as low as $1,600 a year for full coverage. Prices are much higher for teenage drivers, since even teens with perfect driving records should be prepared to pay upwards of $6,300 a year. View Rates by Age

The state you live in has a huge impact on BMW M3 insurance prices. A driver around age 40 might see prices as low as $1,170 a year in states like Idaho, Maine, and Iowa, or have to pay at least $2,520 on average in Michigan, Louisiana, and New York.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles could cut prices by as much as $810 annually, while increasing your policy's liability limits will cost you more. Going from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $358 more each year. View Rates by Deductible or Liability Limit

Since prices can be so different, the only way to know exactly what you will pay is to compare prices from multiple companies. Each insurance company calculates prices differently, and prices may be quite different.

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 Find Affordable BMW M3 Insurance

Getting lower rates on insurance for a BMW M3 requires avoiding accidents and claims, having a good credit score, eliminating unnecessary coverage, and insuring your home and auto with the same company. Compare rates at least once a year by requesting rates from direct carriers, and also from local exclusive and independent agents.

The points below are a brief review of the primary concepts that were illustrated above.

• Drivers can save as much as $220 per year simply by shopping early and online
• Drivers considered higher risk with DUI or reckless driving convictions may pay on average $2,080 more each year to insure a BMW M3
• Increasing physical damage deductibles can save approximately $800 each year
• Drivers under the age of 20 pay higher prices, with premiums as much as $532 a month if comprehensive and collision insurance is included