BMW M3 Insurance Rates

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UPDATED: May 4, 2024

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U.S. average auto insurance rates for a BMW M3 are $1,766 annually for full coverage insurance. Comprehensive insurance costs approximately $406 each year, collision costs $804, and liability is $398. Liability-only insurance costs around $460 a year, with high-risk driver insurance costing $3,842 or more. Teens pay the highest rates at $6,388 a year or more.

Average premium for full coverage: $1,766

Price estimates by individual coverage:

Comprehensive $406
Collision $804
Liability $398

Includes $500 policy deductibles, liability limits of 30/60, and includes both medical and uninsured motorist insurance. Estimates are averaged for all 50 states and M3 models.

Price Range from Low to High

For the average driver, BMW M3 insurance prices go from as cheap as $460 for minimum levels of liability insurance to a high rate of $3,842 for a driver that may need high-risk insurance.

Liability Only $460
Full Coverage $1,766
High Risk $3,842

Geographic Price Range

Choosing to live in a large city can have significant affects on the price of auto insurance. Rural locations have fewer physical damage claims than cities with more traffic congestion.

The graphic below illustrates how location impacts auto insurance prices.

Rural Areas $1,325
Small Cities $1,854
Large Cities $2,384

The ranges above illustrate why all drivers should compare rates quotes using their specific location and their own personal driving habits, instead of using averaged prices.

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 illustrates estimated BMW M3 insurance rates for additional coverage and risk scenarios.

  • The cheapest rate after discounts is $988
  • Raising to $1,000 deductibles will save $272 each year
  • The estimated rate for the average middle-age driver who chooses $500 deductibles is $1,766
  • Selecting low deductibles costs an additional $538 every year
  • At-risk drivers with serious driving violations could pay around $3,842 or more
  • The price with full coverage for a teen driver can cost $6,388

View Chart as Image

BMW M3 insurance cost comparison chart
Column chart showing full coverage BMW M3 insurance prices range from $988 to $6,388

Car insurance prices for a BMW M3 are also quite variable based on the trim level and model year, your risk profile, and physical damage deductibles and liability limits.

More mature drivers with no driving violations and high physical damage deductibles may pay as little as $1,600 every 12 months on average for full coverage. Prices are much higher for teenage drivers, where even without any violations or accidents they will be charged in the ballpark of $6,300 a year. View Rates by Age

If you have some driving violations or you caused a few accidents, you are probably paying anywhere from $2,100 to $2,800 extra each year, depending on your age. Insurance for high-risk drivers is expensive and can cost as much as 44% to 133% more than the average policy. View High Risk Driver Rates

Choosing higher comprehensive and collision insurance deductibles can reduce prices by up to $810 every year, whereas increasing liability limits will push prices upward. Switching from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $358 extra every 12 months. View Rates by Deductible or Liability Limit

The state you live in also has a big influence on BMW M3 insurance prices. A middle-age driver might find prices as low as $1,160 a year in states like North Carolina, Wisconsin, and Vermont, or have to pay at least $2,390 on average in Florida, New York, and Michigan.

BMW M3 Insurance Rates by State
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%

View Chart as Image

BMW M3 insurance rates by U.S. city

Since prices can be so different, the only way to figure out who has the best car insurance prices is to do a rate comparison and see which company has the best price. Every auto insurance company calculates prices differently, so rate quotes may be quite different between companies.

Insurance Rates by Trim Level and Model Year

BMW M3 Insurance Rates by Model and Trim Level
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.

BMW M3 Insurance Rates by Model Year
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 Buy the Cheapest BMW M3 Insurance

Getting lower rates on car insurance consists of being a good driver, having a good credit score, not filing small claims, and avoiding coverage lapses. Spend time shopping around once a year by getting rate quotes from direct insurance companies like GEICO, Progressive, and Esurance, and also from insurance agencies where you live.

The following list is a recap of the data that was touched on above.

  • It is possible to save around $220 per year simply by quoting online in advance
  • Policyholders who purchase an increased level of liability coverage will pay approximately $440 annually to raise from a low limit to higher 250/500 limits
  • Drivers age 16 to 20 pay the highest auto insurance prices, as much as $532 a month if comprehensive and collision insurance is included
  • Higher risk drivers that have major violations or accidents could be forced to pay on average $2,080 more per year than a safer driver

Rates by Driver Age

BMW M3 Insurance 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

BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,304
$250 $2,054
$500 $1,766
$1,000 $1,494

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
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

BMW M3 Insurance 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.

SR-22 Surcharge $253

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
Rate after discounts $988

Discounts are estimated and may not be available from every company or in every state.

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