BMW M3 Insurance Rates

The average insurance rates for a BMW M3 are $1,766 a year including full coverage. Comprehensive insurance costs approximately $406, collision insurance costs $804, and liability insurance costs around $398. Liability-only insurance costs as low as $460 a year, and high-risk driver insurance costs $3,842 or more. Teenage drivers cost the most to insure at up to $6,388 a year.

Average premium for full coverage: $1,766

Policy rates by type of insurance:

Full coverage includes $500 comprehensive and collision deductibles, 30/60 bodily injury liability limits, and includes additional medical/uninsured motorist coverage. Prices are averaged for all 50 U.S. states and for different M3 trim levels.

Price Range Variability

Urban vs. Rural Price Range

Where you live has a significant impact on car insurance prices. Rural locations are shown to have lower incidents of comprehensive and collision claims than densely populated cities. The price range example below illustrates how rural and urban location affects auto insurance prices.

The examples above highlight why anyone shopping for car insurance should compare prices using their specific location, rather than relying on average rates.

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

Additional Rate Analysis

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

• The best discount rate is $988
• Using higher $1,000 deductibles will save $272 every year
• The estimated price for a good driver age 40 who chooses $500 deductibles is $1,766
• Using more expensive low deductibles for physical damage coverage will cost an additional $538 a year
• Drivers who are prone to accidents and violations could pay around $3,842
• Policy cost that insures a teen driver with full coverage can cost $6,388 or more

View Chart as Image

Auto insurance rates for a BMW M3 also range considerably based on the model year and trim level, your driving record and age, and physical damage deductibles and liability limits.

If you have a few points on your driving record or you caused an accident, you are likely paying anywhere from $2,100 to $2,800 in extra premium every year, depending on your age. High-risk driver insurance can be anywhere from 44% to 133% more than a normal policy. View High Risk Driver Rates

An older driver with a good driving record and higher comprehensive and collision deductibles could pay as little as $1,600 a year, or $133 per month, for full coverage. Rates are much higher for teenagers, since even teens with perfect driving records will have to pay in the ballpark of $6,300 a year. View Rates by Age

Your home state has a huge impact on BMW M3 insurance rates. A driver around age 40 might see rates as low as $1,360 a year in states like Vermont, New Hampshire, and Missouri, or be forced to pay as much as $2,520 on average in Louisiana, New York, and Michigan.

View Chart as Image

Using high physical damage deductibles could cut rates by as much as $810 each year, while increasing your policy's liability limits will push rates upward. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $358 extra every year. View Rates by Deductible or Liability Limit

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 More Affordable BMW M3 Insurance

Finding cheaper rates on BMW M3 insurance requires avoiding accidents and violations, maintaining a good credit score, paying for small claims out-of-pocket, and possibly higher deductibles. Compare prices at every other renewal by getting rate quotes from direct car insurance companies, and also from local auto insurance providers.

The list below is a summary of the concepts that were raised in the charts and tables above.

• High-risk drivers who have multiple accidents or major violations will likely pay on average $2,080 more per year for car insurance
• Teenagers have the highest car insurance rates, with premiums being up to $532 each month if the policy includes full coverage
• You may be able to save around $220 per year just by shopping early and online
• Increasing comprehensive and collision deductibles can save approximately $800 each year
• You may be able to save around $220 per year just by shopping early and online