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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Average insurance rates for a BMW M3 are $1,752 a year with full coverage. Comprehensive costs approximately $394, collision costs $784, and liability is estimated at $416. Liability-only coverage costs approximately $474 a year, with high-risk coverage costing around $3,814. Teenage drivers receive the highest rates at $6,376 a year or more.
Average premium for full coverage: $1,752
Rate estimates by individual coverage type:
Full coverage includes $500 deductibles, 30/60 split liability limits, and includes both medical and uninsured motorist insurance. Rates are averaged for all U.S. states and for all M3 models.
Price Range by Coverage and Risk
For an average driver, prices range go from as low as $474 for minimum levels of liability insurance to the much higher price of $3,814 for a high-risk insurance policy.
Price Range by Location
Living in a larger city can have significant affects on the price of insurance. Rural locations tend to have a lower frequency of collision claims than densely populated cities.
The example below illustrates the effect of geographic area on auto insurance prices.
These examples demonstrate why everyone should get quotes using their specific location and risk profile, instead of using average rates.
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 Details
The chart below details estimated BMW M3 insurance rates for additional coverage and risk scenarios.
- The best discount rate is $979
- Choosing higher $1,000 deductibles can save $268 annually
- The average rate for a 40-year-old driver who chooses $500 deductibles is $1,752
- Using pricier low deductibles for comp and collision coverage will increase the cost to $2,272
- Unlucky drivers who are prone to accidents and violations could pay around $3,814 or more
- The cost for full coverage for a teen driver for full coverage can cost $6,376 each year
Car insurance rates for a BMW M3 can also vary considerably based on your driver profile, the trim level and model year, and physical damage deductibles and liability limits.
A more mature driver with no driving violations and high deductibles may pay as little as $1,600 annually on average for full coverage. Rates are much higher for teen drivers, where even good drivers will be charged in the ballpark of $6,300 a year. View Rates by Age
Where you live plays a big part in determining prices for BMW M3 insurance prices. A good driver about age 40 could pay as low as $1,260 a year in states like Utah, Ohio, and New Hampshire, or be forced to pay as much as $2,360 on average in New York, Michigan, and Florida.
| 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% |
Using high physical damage deductibles can save as much as $790 every year, whereas buying more liability protection will push rates upward. Moving from a 50/100 limit to a 250/500 limit will cost as much as $375 extra every 12 months. View Rates by Deductible or Liability Limit
If you like to drive fast or tend to cause accidents, you may be forking out anywhere from $2,100 to $2,800 extra per year, depending on your age. BMW M3 insurance for high-risk drivers ranges as much as 44% to 134% more than a normal policy. View High Risk Driver Rates
With so much variability in rates, the best way to find out who has the cheapest auto insurance rates is to regularly compare rates and see which company has the best rate. Each auto insurer uses a different method to calculate rates, so rate quotes can be significantly different from one company to the next.
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 Find More Affordable BMW M3 Insurance
Saving money on car insurance takes not taking risks behind the wheel, having above-average credit, eliminating unnecessary coverage, and avoiding coverage lapses. Take the time to compare rates at least every other year by getting rate quotes from direct companies like GEICO and Progressive, and also from several local insurance agents.
The following is a summary of the car insurance concepts covered in the above illustrations.
- Higher risk drivers who have multiple accidents or major violations pay on average $2,060 more per year for M3 insurance
- You may be able to save around $220 per year simply by quoting online well ahead of the renewal date
- Increasing deductibles can save around $800 each year
- Policyholders who purchase higher liability limits will pay an extra $460 every year to raise limits from a minimum limit to 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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