BMW M3 Insurance Rates
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Michelle Robbins
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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 insurance rates for a BMW M3 are $1,766 a year for full coverage. Comprehensive insurance costs an estimated $406 a year, collision insurance costs $804, and liability costs $398. Liability-only coverage costs as little as $460 a year, and high-risk coverage costs $3,842 or more. 16-year-old drivers pay the most at up to $6,388 a year.
Average premium for full coverage: $1,766
Premium estimates broken down by type of coverage:
Price estimates include $500 comprehensive and collision deductibles, liability coverage up to 30/60, and includes uninsured motorist and medical coverage. Rates include averaging for all states and M3 trim levels.
Insurance Price Range by Risk and Coverage
For a driver in their 40's, insurance rates for a BMW M3 range from the low end price of $460 for the bare minimum liability coverage to a high of $3,842 for a high-risk driver policy.
Insurance Price Range by Location
Your location can have significant affects on insurance rates. More rural locations are statistically proven to have lower incidents of accident claims than congested cities. The diagram below illustrates how location helps determine insurance prices.
These rate differences show why it is important to compare rates for a targeted area, instead of using rate 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.
Additional Rate Information
The chart below shows average BMW M3 insurance rates for other coverage scenarios.
- The best full coverage rate is $988
- Drivers who choose higher $1,000 deductibles will pay approximately $1,494 a year
- The estimated price for a 40-year-old good driver who has $500 deductibles is $1,766
- Buying low $100 deductibles for comprehensive and collision insurance will cost an additional $538 every year
- Higher-risk drivers with multiple tickets or accidents could pay up to $3,842
- An auto insurance policy that insures a teen driver can cost as much as $6,388 a year
Insurance prices for a BMW M3 also have a wide range based on the trim level of your M3, how you drive, and liability limits and deductibles.
If you have a few violations or you caused an accident, you could be paying $2,100 to $2,800 extra annually, depending on your age. A high-risk auto insurance policy can cost as much as 44% to 133% more than the average rate. View High Risk Driver Rates
Older drivers with a clean driving record and higher comprehensive and collision deductibles may pay as little as $1,600 per year on average, or $133 per month, for full coverage. Prices are highest for drivers in their teens, since even teens with perfect driving records can expect to pay at least $6,300 a year. View Rates by Age
Where you choose to live makes a big difference in BMW M3 insurance prices. A 40-year-old driver could pay as low as $1,170 a year in states like Iowa, Maine, and Idaho, or at least $2,520 on average in New York, Louisiana, and Michigan.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,598 | -$168 | -9.5% |
| Alaska | $1,356 | -$410 | -23.2% |
| Arizona | $1,468 | -$298 | -16.9% |
| Arkansas | $1,766 | -$0 | 0.0% |
| California | $2,014 | $248 | 14.0% |
| Colorado | $1,688 | -$78 | -4.4% |
| Connecticut | $1,818 | $52 | 2.9% |
| Delaware | $2,000 | $234 | 13.3% |
| Florida | $2,210 | $444 | 25.1% |
| Georgia | $1,632 | -$134 | -7.6% |
| Hawaii | $1,270 | -$496 | -28.1% |
| Idaho | $1,196 | -$570 | -32.3% |
| Illinois | $1,320 | -$446 | -25.3% |
| Indiana | $1,330 | -$436 | -24.7% |
| Iowa | $1,194 | -$572 | -32.4% |
| Kansas | $1,680 | -$86 | -4.9% |
| Kentucky | $2,412 | $646 | 36.6% |
| Louisiana | $2,616 | $850 | 48.1% |
| Maine | $1,092 | -$674 | -38.2% |
| Maryland | $1,458 | -$308 | -17.4% |
| Massachusetts | $1,414 | -$352 | -19.9% |
| Michigan | $3,070 | $1,304 | 73.8% |
| Minnesota | $1,480 | -$286 | -16.2% |
| Mississippi | $2,120 | $354 | 20.0% |
| Missouri | $1,570 | -$196 | -11.1% |
| Montana | $1,900 | $134 | 7.6% |
| Nebraska | $1,394 | -$372 | -21.1% |
| Nevada | $2,120 | $354 | 20.0% |
| New Hampshire | $1,276 | -$490 | -27.7% |
| New Jersey | $1,976 | $210 | 11.9% |
| New Mexico | $1,566 | -$200 | -11.3% |
| New York | $1,862 | $96 | 5.4% |
| North Carolina | $1,018 | -$748 | -42.4% |
| North Dakota | $1,448 | -$318 | -18.0% |
| Ohio | $1,220 | -$546 | -30.9% |
| Oklahoma | $1,818 | $52 | 2.9% |
| Oregon | $1,618 | -$148 | -8.4% |
| Pennsylvania | $1,686 | -$80 | -4.5% |
| Rhode Island | $2,358 | $592 | 33.5% |
| South Carolina | $1,602 | -$164 | -9.3% |
| South Dakota | $1,492 | -$274 | -15.5% |
| Tennessee | $1,548 | -$218 | -12.3% |
| Texas | $2,130 | $364 | 20.6% |
| Utah | $1,308 | -$458 | -25.9% |
| Vermont | $1,210 | -$556 | -31.5% |
| Virginia | $1,058 | -$708 | -40.1% |
| Washington | $1,366 | -$400 | -22.7% |
| West Virginia | $1,622 | -$144 | -8.2% |
| Wisconsin | $1,224 | -$542 | -30.7% |
| Wyoming | $1,574 | -$192 | -10.9% |
Opting for high physical damage deductibles could save up to $810 every year, while buying higher liability limits will increase premiums. Going from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $358 more per year. View Rates by Deductible or Liability Limit
Insurance Rates by Trim Level and Model Year
| Model and Trim | Annual Premium | Monthly Premium |
|---|---|---|
| BMW M3 4-Dr Sedan | $1,682 | $140 |
| BMW M3 CI 2-Dr Coupe | $1,810 | $151 |
| BMW M3 2-Dr Convertible | $1,810 | $151 |
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 | $424 | $810 | $390 | $1,782 |
| 2023 BMW M3 | $406 | $804 | $398 | $1,766 |
| 2022 BMW M3 | $394 | $784 | $416 | $1,752 |
| 2021 BMW M3 | $380 | $752 | $430 | $1,720 |
| 2020 BMW M3 | $358 | $726 | $442 | $1,684 |
| 2019 BMW M3 | $344 | $674 | $452 | $1,628 |
| 2018 BMW M3 | $332 | $634 | $456 | $1,580 |
| 2017 BMW M3 | $318 | $568 | $460 | $1,504 |
| 2016 BMW M3 | $296 | $522 | $460 | $1,436 |
| 2015 BMW M3 | $286 | $490 | $464 | $1,398 |
| 2013 BMW M3 | $258 | $424 | $474 | $1,314 |
| 2012 BMW M3 | $252 | $386 | $478 | $1,274 |
| 2011 BMW M3 | $234 | $354 | $474 | $1,220 |
| 2010 BMW M3 | $220 | $320 | $474 | $1,172 |
| 2009 BMW M3 | $214 | $288 | $468 | $1,128 |
| 2008 BMW M3 | $210 | $282 | $460 | $1,110 |
| 2006 BMW M3 | $190 | $254 | $446 | $1,048 |
| 2005 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 Find Cheaper BMW M3 Insurance
Finding better rates on car insurance not only requires avoiding accidents and violations, but also having above-average credit, not filing small claims, and deciding if full coverage is necessary. Comparison shop every time your policy renews by quoting rates from direct carriers, and also from your local independent and exclusive agents.
The list below is a condensed summary of the information covered in the charts and tables above.
- Drivers can save approximately $220 per year just by quoting early and online
- Teenagers are charged the highest prices, as much as $532 per month if full coverage is included
- Increasing policy deductibles can save approximately $800 each year
- Higher risk drivers with multiple at-fault accidents may pay on average $2,080 more annually for car insurance
- Policyholders who want higher liability limits will pay around $440 each year to go from 30/60 bodily injury limits to the 250/500 level
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,388 |
| 20 | $4,104 |
| 30 | $1,864 |
| 40 | $1,766 |
| 50 | $1,610 |
| 60 | $1,580 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,304 |
| $250 | $2,054 |
| $500 | $1,766 |
| $1,000 | $1,494 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,766 |
| 50/100 | $1,890 |
| 100/300 | $1,989 |
| 250/500 | $2,248 |
| 100 CSL | $1,929 |
| 300 CSL | $2,148 |
| 500 CSL | $2,308 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,180 |
| 20 | $6,530 |
| 30 | $3,952 |
| 40 | $3,842 |
| 50 | $3,666 |
| 60 | $3,636 |
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 | $141 |
| 5-yr Claim Free | $116 |
| Paid in Full/EFT | $88 |
| Advance Quote | $92 |
| Online Quote | $129 |
| Total Discounts | $778 |
Discounts are estimated and may not be available from every company or in every state.
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