BMW M3 Insurance Rates

U.S. average auto insurance rates for a BMW M3 are $1,752 annually with full coverage. Comprehensive insurance costs approximately $394 a year, collision costs $784, and liability insurance costs $416. A policy with just liability insurance costs as little as $474 a year, with coverage for high-risk drivers costing $3,814 or more. Teenage drivers pay the highest rates at $6,376 a year or more.

Average premium for full coverage: $1,752

Price estimates by individual coverage:

Rates are based on $500 policy deductibles, liability limits of 30/60, and includes uninsured/under-insured motorist coverage. Estimates are averaged for all U.S. states and M3 trim levels.

Price Range from Low to High

Geographic Price Range

Your location has a significant impact on the price of insurance. Rural locations have fewer collision claims than densely populated cities.

The diagram below illustrates how location helps determine auto insurance prices.

The ranges above demonstrate why it is important to compare rates using their specific location and their own personal driving habits, rather than relying on average rates.

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

More Rate Information

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

• The best discount rate is $979
• Drivers who choose higher $1,000 deductibles will pay $1,484 annually
• The estimated rate for the average middle-age driver who chooses $500 deductibles is $1,752
• Using low $100 deductibles for comprehensive and collision insurance costs an additional $520 a year
• High risk drivers who are prone to accidents and violations could pay around $3,814 or more
• The price with full coverage for a teen driver can cost $6,376 a year

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Insurance prices for a BMW M3 are also quite variable based on the trim level and model year, your driving record, and physical damage deductibles and liability limits.

Older drivers with a clean driving record and high physical damage deductibles could pay as little as $1,600 per year on average for full coverage. Prices are much higher for teenage drivers, where even without any violations or accidents they can expect to pay 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 may be forking out anywhere from $2,100 to $2,800 extra each year, depending on your age. A high-risk auto insurance policy can cost anywhere from 44% to 134% more than a normal policy. View High Risk Driver Rates

Using high physical damage deductibles could save up to $790 each year, while buying higher liability limits will push prices upward. Moving from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $375 more per year. View Rates by Deductible or Liability Limit

The state you live in 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 be forced to pay as much as $2,360 on average in New York, Michigan, and Florida.

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Since prices can be so different, the best way to find out who has the cheapest auto insurance prices is to get quotes from as many companies as possible. Every company uses a different method to calculate prices, so the prices may be quite different between companies.

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 Buy the Best Cheap BMW M3 Insurance

Getting lower rates on BMW M3 insurance not only requires avoiding accidents and claims, but also having a good credit history, avoid buying unnecessary coverage, and maximizing policy discounts. Invest time comparing rates once a year by requesting rates from direct companies like GEICO, Progressive, and Esurance, and also from your local independent and exclusive agents.

The points below are a quick review of the data that was covered in the charts and tables above.

• You may be able to save around $220 per year simply by quoting early and online
• Drivers who purchase increased liability limits will pay an extra $460 every year to go from a low limit to higher 250/500 limits
• Drivers under the age of 20 are expensive to insure, costing up to $531 a month including comprehensive and collision insurance
• High-risk drivers with a DUI or reckless driving violation may pay on average $2,060 more per year to insure a BMW M3