BMW M3 Insurance Rates

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UPDATED: May 4, 2024

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Estimated insurance rates for a BMW M3 are $1,766 a year including full coverage. Comprehensive costs around $406 each year, collision costs $804, and liability costs around $398. Liability-only insurance costs as low as $460 a year, with high-risk driver insurance costing around $3,842. Teen drivers pay the most at $6,388 a year or more.

Average premium for full coverage: $1,766

Premium estimates for type of coverage:

Comprehensive $406
Collision $804
Liability $398

Includes $500 policy deductibles, 30/60 liability coverage, and includes uninsured motorist and medical coverage. Rates include averaging for all 50 U.S. states and M3 models.

Insurance Price Range by Risk and Coverage

For a 40-year-old driver, insurance rates for a BMW M3 go from as low as $460 for the bare minimum liability coverage to a high rate of $3,842 for a policy for a high-risk driver.

Liability Only $460
Full Coverage $1,766
High Risk $3,842

Insurance Price Range by Location

Where you live can have significant affects on the price of insurance. Areas with sparse population are statistically proven to have a lower frequency of comprehensive and collision claims than larger metro areas.

The graphic below illustrates how your location can change auto insurance rates.

Rural Areas $1,325
Small Cities $1,854
Large Cities $2,384

These rate differences highlight why all drivers should compare prices for a specific zip code and risk profile, instead of using price averages.

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.

Additional Rate Information

The chart below breaks down estimated BMW M3 insurance rates for additional coverage choices and driver risks.

  • The lowest rate with discounts is $988
  • Using higher $1,000 deductibles will save about $272 every year
  • The average rate for a 40-year-old good driver using $500 deductibles is $1,766
  • Choosing low deductibles for physical damage coverage will increase the cost to $2,304
  • Drivers with multiple violations and an at-fault accident could pay at least $3,842 or more
  • An auto insurance policy for full coverage for a teen driver can be $6,388 or more

View Chart as Image

BMW M3 insurance cost comparison chart
Column chart showing full coverage BMW M3 insurance rates range from $988 to $6,388

Insurance prices for a BMW M3 also have a wide range based on your driving characteristics, the model of your M3, and deductibles and policy limits.

More mature drivers with no violations or accidents and high deductibles may pay as little as $1,600 a year, or $133 per month, for full coverage. Prices are highest for drivers in their teens, where even good drivers should be prepared to pay as much as $6,300 a year. View Rates by Age

Where you choose to live has a huge impact on BMW M3 insurance prices. A driver around age 40 might see prices as low as $1,360 a year in states like Missouri, New Hampshire, and Vermont, or as much as $2,520 on average in Michigan, New York, and Louisiana.

BMW M3 Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,598 -$168 -9.5%
Alaska $1,356 -$410 -23.2%
Arizona $1,468 -$298 -16.9%
Arkansas $1,766 -$0 0.0%
California $2,014 $248 14.0%
Colorado $1,688 -$78 -4.4%
Connecticut $1,818 $52 2.9%
Delaware $2,000 $234 13.3%
Florida $2,210 $444 25.1%
Georgia $1,632 -$134 -7.6%
Hawaii $1,270 -$496 -28.1%
Idaho $1,196 -$570 -32.3%
Illinois $1,320 -$446 -25.3%
Indiana $1,330 -$436 -24.7%
Iowa $1,194 -$572 -32.4%
Kansas $1,680 -$86 -4.9%
Kentucky $2,412 $646 36.6%
Louisiana $2,616 $850 48.1%
Maine $1,092 -$674 -38.2%
Maryland $1,458 -$308 -17.4%
Massachusetts $1,414 -$352 -19.9%
Michigan $3,070 $1,304 73.8%
Minnesota $1,480 -$286 -16.2%
Mississippi $2,120 $354 20.0%
Missouri $1,570 -$196 -11.1%
Montana $1,900 $134 7.6%
Nebraska $1,394 -$372 -21.1%
Nevada $2,120 $354 20.0%
New Hampshire $1,276 -$490 -27.7%
New Jersey $1,976 $210 11.9%
New Mexico $1,566 -$200 -11.3%
New York $1,862 $96 5.4%
North Carolina $1,018 -$748 -42.4%
North Dakota $1,448 -$318 -18.0%
Ohio $1,220 -$546 -30.9%
Oklahoma $1,818 $52 2.9%
Oregon $1,618 -$148 -8.4%
Pennsylvania $1,686 -$80 -4.5%
Rhode Island $2,358 $592 33.5%
South Carolina $1,602 -$164 -9.3%
South Dakota $1,492 -$274 -15.5%
Tennessee $1,548 -$218 -12.3%
Texas $2,130 $364 20.6%
Utah $1,308 -$458 -25.9%
Vermont $1,210 -$556 -31.5%
Virginia $1,058 -$708 -40.1%
Washington $1,366 -$400 -22.7%
West Virginia $1,622 -$144 -8.2%
Wisconsin $1,224 -$542 -30.7%
Wyoming $1,574 -$192 -10.9%

View Chart as Image

BMW M3 insurance rates by U.S. city

Choosing high deductibles could cut prices by as much as $810 every year, whereas increasing liability limits will increase prices. Changing from a 50/100 limit to a 250/500 limit will cost up to $358 more each year. View Rates by Deductible or Liability Limit

If you have a few violations or tend to cause accidents, you are likely paying at least $2,100 to $2,800 additional annually, depending on your age. Insurance for high-risk drivers can be as much as 44% to 133% more than average. View High Risk Driver Rates

With such a large range in prices, the best way to figure out your exact price is to do a rate comparison and see which company has the best price. Each insurance company uses a different rate calculation, and prices will be substantially different from one company to the next.

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 $1,682 $140
BMW M3 CI 2-Dr Coupe $1,810 $151
BMW M3 2-Dr Convertible $1,810 $151

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 $424 $810 $390 $1,782
2023 BMW M3 $406 $804 $398 $1,766
2022 BMW M3 $394 $784 $416 $1,752
2021 BMW M3 $380 $752 $430 $1,720
2020 BMW M3 $358 $726 $442 $1,684
2019 BMW M3 $344 $674 $452 $1,628
2018 BMW M3 $332 $634 $456 $1,580
2017 BMW M3 $318 $568 $460 $1,504
2016 BMW M3 $296 $522 $460 $1,436
2015 BMW M3 $286 $490 $464 $1,398
2013 BMW M3 $258 $424 $474 $1,314
2012 BMW M3 $252 $386 $478 $1,274
2011 BMW M3 $234 $354 $474 $1,220
2010 BMW M3 $220 $320 $474 $1,172
2009 BMW M3 $214 $288 $468 $1,128
2008 BMW M3 $210 $282 $460 $1,110
2006 BMW M3 $190 $254 $446 $1,048
2005 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 Cheapest BMW M3 Insurance

Finding better rates on car insurance requires being safe and accident-free, having a good credit history, refrain from filing small claims, and taking advantage of discounts. Invest the time to shop around every year by requesting rates from direct car insurance companies like Progressive, GEICO, and Esurance, and also from several local insurance agents.

Below you'll find a recap of the coverage data illustrated above.

  • You may be able to save up to $220 per year simply by quoting online in advance
  • Increasing policy deductibles can save around $800 each year
  • Youthful drivers are charged the highest prices, with the cost nearing $532 per month including comprehensive and collision insurance
  • Higher risk drivers that have major violations or accidents pay on average $2,080 more every year than a low-risk driver

Rates by Driver Age

BMW M3 Insurance Rates by Driver Age
Driver Age Premium
16 $6,388
20 $4,104
30 $1,864
40 $1,766
50 $1,610
60 $1,580

Full coverage, $500 deductibles

Rates by Deductible

BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,304
$250 $2,054
$500 $1,766
$1,000 $1,494

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,766
50/100 $1,890
100/300 $1,989
250/500 $2,248
100 CSL $1,929
300 CSL $2,148
500 CSL $2,308

Full coverage, driver age 40

Rates for High Risk Drivers

BMW M3 Insurance Rates for High Risk Drivers
Age Premium
16 $9,180
20 $6,530
30 $3,952
40 $3,842
50 $3,666
60 $3,636

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 $253

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 $141
5-yr Claim Free $116
Paid in Full/EFT $88
Advance Quote $92
Online Quote $129
Total Discounts $778
Rate after discounts $988

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

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