BMW M3 Insurance Rates

The average insurance rates for a BMW M3 are $1,752 a year including full coverage. Comprehensive insurance costs approximately $394 a year, collision costs $784, and liability costs around $416. Buying just liability costs as low as $474 a year, with insurance for high-risk drivers costing $3,814 or more. Teens 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:

Prices include $500 policy deductibles, split liability limits of 30/60, and includes additional medical/uninsured motorist coverage. Prices are averaged for all 50 U.S. states and M3 trim levels.

Price Range Variability

Urban vs. Rural Price Range

Where you live can have significant affects on car insurance prices. Rural locations are shown to have lower incidents of comprehensive and collision claims than cities with more traffic congestion.

The diagram below illustrates how your location can change auto insurance prices.

The examples above highlight why it is important to compare prices using their specific location, instead of using averaged prices.

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

Additional Rate Analysis

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

• The cheapest rate after discounts is $979
• Using higher $1,000 deductibles will save $1,484 every year
• The estimated price for a good driver age 40 who chooses $500 deductibles is $1,752
• Selecting low $100 deductibles for physical damage coverage will cost an additional $520 every year
• Drivers with serious driving violations could pay around $3,814 or more
• Policy cost that insures a teen driver can cost $6,376 or more

View Chart as Image

Insurance rates for a BMW M3 also range considerably based on the trim level of your M3, your driving record and age, and physical damage deductibles and liability limits.

If you have a few points on your driving record or you caused an accident, you are likely paying anywhere from $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 the average policy. View High Risk Driver Rates

Older drivers with a clean driving record 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 can expect to pay in the ballpark 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 $1,340 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,500 on average in Louisiana, New York, and Michigan.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles could cut rates by as much as $790 every year, while buying higher liability limits will push rates upward. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $375 more per year. View Rates by Deductible or Liability Limit

Because rates have so much variability, the best way to figure out who has the best auto insurance rates is to get quotes and see which company has the best rate. Each insurance company calculates rates differently, so the 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 Find the Right BMW M3 Insurance

Finding cheaper rates on car insurance requires avoiding accidents and claims, having above-average credit, paying for small claims out-of-pocket, and maximizing policy discounts. Compare rates at least once a year by requesting rates from direct car insurance companies, and also from local auto insurance providers.

The points below are a quick rundown of the primary concepts that were illustrated above.

• You may be able to save around $220 per year simply by quoting early and online
• Higher risk drivers with reckless driving or DUI convictions will likely pay on average $2,060 more per year to insure a BMW M3
• Increasing comprehensive and collision deductibles can save approximately $800 each year
• Drivers under the age of 20 are expensive to insure, with premiums being up to $531 each month if full coverage is included