BMW M3 Insurance Rates

The average insurance rates for a BMW M3 are $1,752 a year for full coverage insurance. Comprehensive costs on average $394 a year, collision costs $784, and liability costs around $416. A liability-only policy costs as low as $474 a year, with high-risk insurance costing around $3,814. Teenage drivers cost the most to insure at $6,376 a year or more.

Average premium for full coverage: $1,752

Policy rates by type of insurance:

Rate estimates include $500 deductible amounts, 30/60 liability limits, and includes uninsured motorist and medical coverage. Prices are averaged for all 50 states and M3 trim levels.

Price Range Variability

Urban vs. Rural Price Range

Where you live can have significant affects on insurance rates. Rural areas are shown to have lower incidents of physical damage claims than densely populated cities.

The diagram below illustrates the effect of geographic area on car insurance rates.

The examples above illustrate why it is important to compare prices based on a specific location, instead of using average rates.

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

Additional Rate Information

The chart below illustrates estimated BMW M3 insurance rates for different risk profiles and scenarios.

• The best discount rate is $979
• Using higher $1,000 deductibles will save around $1,484 each year
• The estimated price for a good driver age 40 with $500 deductibles is $1,752
• Using low $100 deductibles for physical damage coverage bumps up the cost to $2,272
• Drivers who are prone to accidents and violations could pay upwards of $3,814 or more
• Policy cost that insures a teen driver may cost $6,376 or more

View Chart as Image

Car insurance rates for a BMW M3 also range considerably based on the trim level of your M3, your age and driving record, and policy deductibles and limits.

If you have a few points on your driving record or you caused an accident, you are probably paying at a minimum $2,100 to $2,800 extra every year, depending on your age. A high-risk auto insurance policy can be as much as 44% to 134% more than a normal policy. View High Risk Driver Rates

Older drivers with no driving violations and higher comprehensive and collision deductibles may pay as little as $1,600 a year, or $133 per month, for full coverage. Rates are much higher for teenagers, since even teens with perfect driving records will be charged upwards of $6,300 a year. View Rates by Age

Your home state has a huge impact on BMW M3 insurance prices. A driver around age 40 might see rates as low as $1,140 a year in states like Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $2,360 on average in Michigan, New York, and Florida.

View Chart as Image

Using high physical damage deductibles could cut rates by as much as $790 every year, while buying higher liability limits will cost you more. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $375 extra every 12 months. View Rates by Deductible or Liability Limit

Because rates have so much variability, the only way to figure out exactly what you will pay is to get quotes and see which company has the best rate. Each insurance company uses a different method to calculate rates, so rate quotes 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 Find the Best BMW M3 Insurance

Finding cheaper rates on car insurance requires having a good driving record, having a positive credit history, being claim-free, and maximizing policy discounts. Compare prices at every policy renewal by requesting rates from direct insurance companies, and also from your local independent and exclusive agents.

The next list is a brief recap of the data covered in the above illustrations.

• Policyholders who require increased levels of liability coverage will pay an extra $460 annually to increase from a 30/60 limit to the 250/500 level
• It is possible to save as much as $220 per year simply by quoting early and online
• Increasing comprehensive and collision deductibles can save approximately $800 each year
• Drivers age 20 and younger are expensive to insure, possibly costing $531 each month if full coverage is purchased