BMW M3 Insurance Rates

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UPDATED: May 4, 2024

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The average insurance rates for a BMW M3 are $1,752 a year with full coverage. Comprehensive insurance costs an estimated $394 a year, collision insurance costs $784, and liability coverage costs $416. Liability-only insurance costs as little as $474 a year, and high-risk driver insurance costs $3,814 or more. Teens cost the most to insure at up to $6,376 a year.

Average premium for full coverage: $1,752

Policy rates broken down by type of insurance:

Comprehensive $394
Collision $784
Liability $416

Prices include $500 deductibles, bodily injury liability limits of 30/60, and includes medical and uninsured motorist coverage. Prices are averaged for all U.S. states and M3 trim levels.

Price Range Variability

For a driver in their 40's, BMW M3 insurance rates range from the low end price of $474 for just liability coverage to a high of $3,814 for a driver who has had serious violations or accidents.

Liability Only $474
Full Coverage $1,752
High Risk $3,814

Urban vs. Rural Price Range

Your location has a large influence on car insurance rates. More rural locations are shown to have lower incidents of collision claims than cities with more traffic congestion. The diagram below illustrates how location helps determine insurance prices.

Rural Areas $1,314
Small Cities $1,840
Large Cities $2,365

The examples above demonstrate why it is important to compare rates for a targeted area, rather than 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.

Detailed Rate Analysis

The chart below details average BMW M3 insurance rates for other coverage scenarios.

  • The cheapest rate after discounts is $979
  • Drivers who choose higher $1,000 deductibles will pay approximately $1,484 annually
  • The estimated price for a good driver age 40 who has $500 deductibles is $1,752
  • Selecting low $100 deductibles for comprehensive and collision insurance will cost an additional $520 each year
  • High-risk insureds with serious driving violations could pay up to $3,814
  • Policy cost that insures a teenage driver can cost as much as $6,376 a year

View Chart as Image

BMW M3 insurance cost comparison chart
Column chart showing BMW M3 insurance prices range from $979 to $6,376 for full coverage

Auto insurance rates for a BMW M3 also range considerably based on the trim level of your M3, your age and driving habits, and liability limits and deductibles.

If you have a few points on your driving record or you caused an accident, you may be forking out $2,100 to $2,800 in extra premium every year, depending on your age. A high-risk auto insurance policy can cost around 44% to 134% more than the average policy. View High Risk Driver Rates

Older drivers with a good driving record and higher comprehensive and collision deductibles may only pay around $1,600 per year on average, or $133 per month, for full coverage. Rates are much higher for teenagers, since even teens with perfect driving records will have to pay at least $6,300 a year. View Rates by Age

Your home state makes a big difference in BMW M3 insurance rates. A 40-year-old driver could pay as low as $1,260 a year in states like Utah, Ohio, and New Hampshire, or have to pay at least $2,360 on average in New York, Michigan, and Florida.

BMW M3 Insurance Rates by State
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%

View Chart as Image

BMW M3 insurance rates by U.S. city

Choosing higher comprehensive and collision insurance deductibles could save up to $790 a year, while buying higher liability limits will increase premiums. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $375 extra every year. View Rates by Deductible or Liability Limit

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 $1,668 $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.

BMW M3 Insurance Rates by Model Year
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 the Right BMW M3 Insurance

Finding cheaper rates on auto insurance not only requires not taking risks behind the wheel, but also maintaining a good credit score, not filing small claims, and consideration of higher deductibles. Compare rates every other policy renewal by getting quotes from direct companies, and also from insurance agencies where you live.

The following is a quick rundown of the ideas that were covered in the charts and tables above.

  • Teens are the costliest to insure, as much as $531 each month if the policy includes full coverage
  • Drivers with reckless driving or DUI convictions could be forced to pay on average $2,060 more annually for M3 insurance
  • Increasing comprehensive and collision deductibles can save approximately $800 each year
  • You may be able to save approximately $220 per year just by quoting early and online

Rates by Driver Age

BMW M3 Insurance 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

BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,272
$250 $2,030
$500 $1,752
$1,000 $1,484

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
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

BMW M3 Insurance 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.

SR-22 Surcharge $251

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
Rate after discounts $979

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

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