BMW M3 Insurance Rates
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UPDATED: Jun 6, 2023
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U.S. average insurance prices for a BMW M3 are $1,628 every 12 months for full coverage. Comprehensive insurance costs around $344 a year, collision costs $674, and liability coverage costs around $452. Liability-only coverage costs as low as $504 a year, with high-risk coverage costing $3,546 or more. Teen drivers pay the highest rates at $6,032 a year or more.
Average premium for full coverage: $1,628
Price estimates for individual coverage:
Prices are based on $500 physical damage deductibles, 30/60 liability coverage, and includes medical and UM/UIM coverage. Estimates are averaged for all states and M3 trim levels.
Price Range from Low to High
Using a 40-year-old driver as an example, BMW M3 insurance prices go from the cheapest price of $504 for just liability insurance to a high of $3,546 for a policy for a high-risk driver.
Geographic Price Range
Where you live has a large influence on auto insurance rates. Areas with sparse population have more infrequent accident claims than larger metro areas.
The diagram below illustrates how rural and urban location affects auto insurance rates.
The ranges above show why it is important to compare prices for a specific zip code and their own driving history, rather than using price 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.
More Rate Details
The chart below shows estimated BMW M3 insurance rates for additional coverage choices and driver risks.
- The lowest rate with discounts is $918
- Using higher $1,000 deductibles will save about $1,398 a year
- The average price for the average middle-age driver using $500 deductibles is $1,628
- Choosing low $100 deductibles for physical damage coverage costs an extra $450 each year
- Higher-risk drivers with multiple violations and an at-fault accident could pay at least $3,546 or more
- The price to insure a teenage driver can be $6,032 or more
Auto insurance prices for a BMW M3 are also quite variable based on deductibles and policy limits, your driver profile, and the trim level and model year.
Choosing high deductibles could cut prices by as much as $680 a year, while buying higher liability limits will increase prices. Going from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $407 extra every year. View Rates by Deductible or Liability Limit
Older drivers with a good driving record and higher deductibles may only pay around $1,500 a year for full coverage. Prices are highest for teenage drivers, since even excellent drivers will have to pay as much as $6,000 a year. View Rates by Age
If you have some driving violations or you were responsible for an accident, you could be paying at least $1,900 to $2,700 in extra premium each year, depending on your age. A high-risk auto insurance policy can be around 45% to 130% more than average. View High Risk Driver Rates
The state you live in has a huge impact on BMW M3 insurance rates. A driver around age 40 might see prices as low as $1,070 a year in states like Idaho, Maine, and Iowa, or as much as $2,320 on average in Michigan, Louisiana, and New York.
State | Premium | Compared to U.S. Avg | Percent Difference |
---|---|---|---|
Alabama | $1,472 | -$156 | -9.6% |
Alaska | $1,248 | -$380 | -23.3% |
Arizona | $1,350 | -$278 | -17.1% |
Arkansas | $1,628 | -$0 | 0.0% |
California | $1,856 | $228 | 14.0% |
Colorado | $1,554 | -$74 | -4.5% |
Connecticut | $1,674 | $46 | 2.8% |
Delaware | $1,842 | $214 | 13.1% |
Florida | $2,036 | $408 | 25.1% |
Georgia | $1,502 | -$126 | -7.7% |
Hawaii | $1,170 | -$458 | -28.1% |
Idaho | $1,102 | -$526 | -32.3% |
Illinois | $1,212 | -$416 | -25.6% |
Indiana | $1,226 | -$402 | -24.7% |
Iowa | $1,096 | -$532 | -32.7% |
Kansas | $1,548 | -$80 | -4.9% |
Kentucky | $2,220 | $592 | 36.4% |
Louisiana | $2,408 | $780 | 47.9% |
Maine | $1,004 | -$624 | -38.3% |
Maryland | $1,342 | -$286 | -17.6% |
Massachusetts | $1,302 | -$326 | -20.0% |
Michigan | $2,828 | $1,200 | 73.7% |
Minnesota | $1,362 | -$266 | -16.3% |
Mississippi | $1,950 | $322 | 19.8% |
Missouri | $1,444 | -$184 | -11.3% |
Montana | $1,748 | $120 | 7.4% |
Nebraska | $1,284 | -$344 | -21.1% |
Nevada | $1,954 | $326 | 20.0% |
New Hampshire | $1,174 | -$454 | -27.9% |
New Jersey | $1,820 | $192 | 11.8% |
New Mexico | $1,442 | -$186 | -11.4% |
New York | $1,714 | $86 | 5.3% |
North Carolina | $938 | -$690 | -42.4% |
North Dakota | $1,334 | -$294 | -18.1% |
Ohio | $1,124 | -$504 | -31.0% |
Oklahoma | $1,670 | $42 | 2.6% |
Oregon | $1,490 | -$138 | -8.5% |
Pennsylvania | $1,552 | -$76 | -4.7% |
Rhode Island | $2,172 | $544 | 33.4% |
South Carolina | $1,474 | -$154 | -9.5% |
South Dakota | $1,372 | -$256 | -15.7% |
Tennessee | $1,426 | -$202 | -12.4% |
Texas | $1,962 | $334 | 20.5% |
Utah | $1,206 | -$422 | -25.9% |
Vermont | $1,114 | -$514 | -31.6% |
Virginia | $974 | -$654 | -40.2% |
Washington | $1,258 | -$370 | -22.7% |
West Virginia | $1,492 | -$136 | -8.4% |
Wisconsin | $1,126 | -$502 | -30.8% |
Wyoming | $1,452 | -$176 | -10.8% |
Since prices can be so different, the only way to know your exact price is to get quotes and see how they stack up. Each insurance company uses a different rate calculation, and quoted prices may be quite different.
Insurance Rates by Trim Level and Model Year
Model and Trim | Annual Premium | Monthly Premium |
---|---|---|
BMW M3 4-Dr Sedan | $1,558 | $130 |
BMW M3 CI 2-Dr Coupe | $1,664 | $139 |
BMW M3 2-Dr Convertible | $1,664 | $139 |
Rates assume 2018 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 |
---|---|---|---|---|
2018 BMW M3 | $344 | $674 | $452 | $1,628 |
2015 BMW M3 | $296 | $522 | $460 | $1,436 |
2011 BMW M3 | $252 | $386 | $478 | $1,274 |
2009 BMW M3 | $220 | $320 | $474 | $1,172 |
2008 BMW M3 | $214 | $288 | $468 | $1,128 |
2006 BMW M3 | $206 | $268 | $452 | $1,084 |
2005 BMW M3 | $190 | $254 | $446 | $1,048 |
2004 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 Shop for Affordable BMW M3 Insurance
Getting lower rates on auto insurance requires being a safe and courteous driver, having a good credit score, eliminating unnecessary coverage, and maximizing policy discounts. Set aside time to shop around every year by requesting rates from direct carriers like Progressive, GEICO, and Esurance, and also from local exclusive and independent agents.
Below is a brief review of the coverage data raised in the charts and tables above.
- Drivers can save up to $200 per year simply by quoting early and online
- Increasing physical damage deductibles could save as much as $675 each year
- Teenage drivers are expensive to insure, with premiums as much as $503 a month if comprehensive and collision insurance is included
- Drivers with DUI or reckless driving convictions may pay on average $1,920 more every year for auto insurance
Rate Tables and Charts
Rates by Driver Age
Driver Age | Premium |
---|---|
16 | $6,032 |
20 | $3,780 |
30 | $1,702 |
40 | $1,628 |
50 | $1,486 |
60 | $1,458 |
Full coverage, $500 deductibles
Rates by Deductible
Deductible | Premium |
---|---|
$100 | $2,078 |
$250 | $1,868 |
$500 | $1,628 |
$1,000 | $1,398 |
Full coverage, driver age 40
Rates by Liability Limit
Liability Limit | Premium |
---|---|
30/60 | $1,628 |
50/100 | $1,754 |
100/300 | $1,867 |
250/500 | $2,161 |
100 CSL | $1,800 |
300 CSL | $2,048 |
500 CSL | $2,229 |
Full coverage, driver age 40
Rates for High Risk Drivers
Age | Premium |
---|---|
16 | $8,640 |
20 | $6,024 |
30 | $3,626 |
40 | $3,546 |
50 | $3,384 |
60 | $3,354 |
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 | $88 |
Multi-vehicle | $87 |
Homeowner | $24 |
5-yr Accident Free | $125 |
5-yr Claim Free | $107 |
Paid in Full/EFT | $78 |
Advance Quote | $83 |
Online Quote | $118 |
Total Discounts | $710 |
Discounts are estimated and may not be available from every company or in every state.
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