BMW M3 Insurance Rates

U.S. average insurance rates for a BMW M3 are $1,752 a year including full coverage. Comprehensive costs an estimated $394, collision costs $784, and liability is $416. Liability-only coverage costs around $474 a year, with high-risk coverage costing around $3,814. Teen drivers pay the highest rates at $6,376 a year or more.

Average premium for full coverage: $1,752

Price estimates broken down by individual coverage:

Prices are based on $500 policy deductibles, minimum liability limits, and includes medical and uninsured motorist coverage. Estimates are averaged for all 50 U.S. states and for different M3 trim levels.

Price Range from Low to High

Geographic Price Range

Choosing to live in a large city can have significant affects on the price of auto insurance. More rural locations have lower incidents of comprehensive and collision claims than larger metro areas.

The price range example below illustrates how your location can change insurance prices.

The ranges above highlight why anyone shopping for car insurance should compare rates quotes for a targeted area, instead of using price averages.

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

Detailed Rate Analysis

The chart below breaks down estimated BMW M3 insurance rates for other coverage scenarios.

• The lowest rate with discounts is $979
• Raising to $1,000 deductibles will save approximately $268 every year
• The estimated price for the average middle-age driver who has $500 deductibles is $1,752
• Choosing more expensive low deductibles bumps up the cost to $2,272
• At-risk drivers with multiple violations and an at-fault accident could pay up to $3,814 or more
• The price that insures a teen driver with full coverage can cost as much as $6,376

View Chart as Image

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

If you have some driving violations or you caused an accident, you are likely paying $2,100 to $2,800 in extra premium each year, depending on your age. High-risk driver insurance is expensive and can cost as much as 44% to 134% more than average. View High Risk Driver Rates

An older driver with a good driving record and higher comprehensive and collision deductibles may pay as little as $1,600 every 12 months on average for full coverage. Prices are highest for teenage drivers, since even teens with perfect driving records will have to pay at least $6,300 a year. View Rates by Age

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 $1,340 a year in states like Vermont, New Hampshire, and Missouri, or as much as $2,500 on average in Louisiana, New York, and Michigan.

View Chart as Image

Choosing high deductibles can reduce prices by up to $790 every year, while increasing your policy's liability limits will increase premiums. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $375 extra every year. View Rates by Deductible or Liability Limit

Since prices can be so different, the best way to figure out which car insurance is cheapest is to compare prices and see which company has the best price. Every auto insurance company uses a different rate calculation, and quoted prices may be quite different.

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 Find Affordable BMW M3 Insurance

Getting lower rates on car insurance consists of being a good driver, maintaining a good credit score, being claim-free, and qualifying for all possible discounts. Shop around every couple of years by requesting quotes from direct car insurance companies, and also from your local car insurance providers.

The following list is a brief review of the material that was illustrated above.

• Policyholders who want an increased level of liability coverage will pay about $460 per year to raise from a low limit to the 250/500 level
• Drivers age 16 to 20 are the costliest to insure, possibly costing $531 a month if the policy includes full coverage
• Higher risk drivers with DUI or reckless driving convictions could be charged and average of $2,060 more annually than a safer driver
• Increasing physical damage deductibles can save approximately $800 each year