BMW M3 Insurance Rates

The average insurance prices for a BMW M3 are $1,766 every 12 months including full coverage. Comprehensive insurance costs approximately $406, collision costs $804, and liability costs around $398. Liability-only coverage costs as low as $460 a year, with high-risk coverage costing $3,842 or more. Teens cost the most to insure at $6,388 a year or more.

Average premium for full coverage: $1,766

Policy rates by type of insurance:

Estimates include $500 deductible amounts, minimum liability limits, and includes uninsured/under-insured 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 can make a big difference on car insurance prices. Rural locations are shown to have more infrequent comprehensive and collision claims than cities with more traffic congestion.

The price range example below illustrates the difference between rural and urban areas on auto insurance prices.

The examples above highlight why anyone shopping for car insurance should compare prices using their specific location and their own driving history, instead of making a decision based on averaged prices.

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

More Rate Information

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

• The cheapest rate after discounts is $988
• Using higher $1,000 deductibles will save $272 every year
• The average price for a good driver age 40 who chooses $500 deductibles is $1,766
• Selecting more expensive low deductibles for physical damage coverage costs an extra $538 annually
• High-risk insureds with serious driving violations could pay around $3,842 or more
• Policy cost to insure a 16-year-old driver with full coverage can cost $6,388 or more

View Chart as Image

Insurance rates for a BMW M3 also range considerably based on liability limits and deductibles, your driving characteristics, and the model of your M3.

Choosing higher comprehensive and collision insurance deductibles could cut rates by as much as $810 annually, while increasing your policy's liability limits will push rates upward. Changing from a 50/100 liability limit to a 250/500 limit will raise rates by up to $358 more each year. View Rates by Deductible or Liability Limit

An older driver with no violations or accidents and higher deductibles may pay as low as $1,600 a year, or $133 per month, for full coverage. Rates are much higher for teenagers, since even excellent drivers should be prepared to pay in the ballpark of $6,300 a year. View Rates by Age

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

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

View Chart as Image

Because rates have so much variability, the best way to figure out who has the best auto insurance rates is to compare rates from multiple companies. Each insurance company calculates rates differently, and rates will be varied.

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 Shop for Low Cost BMW M3 Insurance

Finding cheaper rates on insurance for a BMW M3 requires having a good driving record, having above-average credit, paying for small claims out-of-pocket, and qualifying for all possible discounts. Set aside time to compare rates every couple of years by requesting quotes from direct car insurance companies, and also from your local car insurance providers.

The next list is a review of the material that was covered above.

• Insureds who purchase increased levels of liability coverage will pay approximately $440 per year to increase from a 30/60 limit to a 250/500 level
• Drivers age 20 and younger are the costliest to insure, with premiums being up to $532 each month if full coverage is included
• Drivers considered higher risk who have several accidents or serious violations could be charged and average of $2,080 more per year to buy BMW M3 insurance
• Increasing comprehensive and collision deductibles could save as much as $800 each year