BMW M3 Insurance Rates

The average insurance rates for a BMW M3 are $1,752 a year including full coverage. Comprehensive insurance costs approximately $394, collision costs $784, and liability costs $416. Buying just liability costs as little as $474 a year, with insurance for high-risk drivers costing $3,814 or more. Teenage drivers cost the most to insure at $6,376 a year or more.

Average premium for full coverage: $1,752

Policy rates by type of insurance:

Includes $500 deductibles, minimum liability limits, and includes both medical and uninsured motorist insurance. Prices are averaged for all 50 U.S. states and for all M3 models.

Price Range Variability

Urban vs. Rural Price Range

Your location can make a big difference on car insurance prices. Rural locations are shown to have a lower frequency of comprehensive and collision claims than densely populated cities.

The example below illustrates how geographic area affects auto insurance prices.

The examples above highlight why everyone should compare rates using their specific location and risk profile, instead of making a decision based on average rates.

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

Additional Rate Details

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

• The best discount rate is $979
• Drivers who choose higher $1,000 deductibles will pay $268 every year
• The average rate for a good driver age 40 who chooses $500 deductibles is $1,752
• Using pricier low deductibles for comprehensive and collision insurance will cost an extra $520 annually
• Drivers who are prone to accidents and violations could pay around $3,814 or more
• Policy cost for full coverage for a 16-year-old driver for full coverage can cost $6,376 a year

View Chart as Image

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

A more mature driver with a clean driving record and high deductibles may pay as low as $1,600 per year on average, or $133 per month, for full coverage. Rates are much higher for teenagers, where even good drivers can expect to pay in the ballpark of $6,300 a year. View Rates by Age

Your home state makes a big difference in BMW M3 insurance prices. A 40-year-old driver could pay as low as $1,340 a year in states like Vermont, New Hampshire, and Missouri, or be forced to pay as much as $2,500 on average in Louisiana, New York, and Michigan.

View Chart as Image

Using high physical damage deductibles could save up to $790 annually, whereas buying more liability protection will push rates upward. Changing from a 50/100 limit to a 250/500 limit will raise rates by up to $375 more per year. View Rates by Deductible or Liability Limit

If you have a few points on your driving record or tend to cause accidents, you are likely paying anywhere from $2,100 to $2,800 extra every year, depending on your age. BMW M3 insurance for high-risk drivers can cost from 44% to 134% more than a normal policy. View High Risk Driver Rates

Because rates have so much variability, the best way to figure out who has the best auto insurance rates is to regularly compare rates from multiple companies. Every company uses a different method to calculate rates, so the rates will be varied from one company to the next.

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 the Cheapest BMW M3 Insurance

Finding cheaper rates on insurance for a BMW M3 not only requires not taking risks behind the wheel, but also maintaining good credit, paying for small claims out-of-pocket, and maximizing policy discounts. Invest the time to compare rates every couple of years by requesting quotes from direct car insurance companies like GEICO, Progressive, and Esurance, and also from insurance agencies where you live.

The following is a recap of the material that was presented in the illustrations above.

• Insureds who purchase higher liability limits will pay an extra $460 per year to go from a 30/60 limit to 250/500 limits
• Teens are expensive to insure, with premiums being up to $531 each month for full coverage
• Drivers considered higher risk that have major violations or accidents could be forced to pay on average $2,060 more per year for M3 insurance
• Increasing comprehensive and collision deductibles can save around $800 each year