BMW M3 Insurance Rates

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UPDATED: May 4, 2024

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Average insurance prices for a BMW M3 are $1,766 every 12 months with full coverage. Comprehensive costs approximately $406, collision insurance costs $804, and liability coverage costs $398. A policy with just liability insurance costs as little as $460 a year, and coverage for high-risk drivers costs around $3,842. Teen drivers receive the highest rates at up to $6,388 a year.

Average premium for full coverage: $1,766

Rate estimates by individual coverage type:

Comprehensive $406
Collision $804
Liability $398

These estimates include $500 policy deductibles, 30/60 bodily injury liability limits, and includes medical and UM/UIM coverage. Rates are averaged for all U.S. states and for all M3 models.

Price Range by Coverage and Risk

For an average driver, prices range range from the cheapest price of $460 for just liability insurance to the much higher price of $3,842 for a driver who requires high-risk insurance.

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

Price Range by Location

Your location has a large influence on the price of insurance. Rural locations tend to have more infrequent collision claims than larger metro areas. The example below illustrates the effect of geographic area on auto insurance prices.

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

These examples demonstrate why everyone should compare rates using their specific location and their own driving history, rather than 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.

More Rate Details

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

  • The lowest rate with discounts is $988
  • Drivers who choose higher $1,000 deductibles will pay $272 annually
  • The average price for a 40-year-old driver who chooses $500 deductibles is $1,766
  • Choosing pricier low deductibles for comprehensive and collision insurance increases the price to $2,304
  • High-risk insureds with multiple violations and an at-fault accident could pay around $3,842
  • The cost to insure a teenage driver for full coverage can cost $6,388 a year

View Chart as Image

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

Insurance rates for a BMW M3 can also vary considerably based on policy deductibles and limits, your driving record, and the model of your M3.

Choosing high deductibles could save up to $810 a year, whereas buying more liability protection will push rates upward. Moving from a 50/100 liability limit to a 250/500 limit will cost as much as $358 more each year. View Rates by Deductible or Liability Limit

A more mature driver with no violations or accidents and higher deductibles may only pay around $1,600 per year on average for full coverage. Rates are highest for teen drivers, since even excellent drivers should be prepared to pay in the ballpark of $6,300 a year. View Rates by Age

If you like to drive fast or you were responsible for an accident, you may be forking out anywhere from $2,100 to $2,800 additional per year, depending on your age. BMW M3 insurance for high-risk drivers can cost around 44% to 133% more than average. View High Risk Driver Rates

Where you live makes a big difference in BMW M3 insurance rates. A 40-year-old driver could pay as low as $1,270 a year in states like Utah, Ohio, and New Hampshire, or as much as $2,390 on average in New York, Michigan, and Florida.

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

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 Shop for Cheap BMW M3 Insurance

Saving money on auto insurance not only requires being a good driver, but also having above-average credit, eliminating unnecessary coverage, and consideration of higher deductibles. Take the time to compare rates at every other renewal by getting rate quotes from direct companies like GEICO, Progressive, and Esurance, and also from insurance agencies where you live.

The following list is a brief summary of the concepts that were covered in the above illustrations.

  • Drivers that tend to have accidents or serious violations could be forced to pay on average $2,080 more per year than a safer driver
  • Drivers age 16 to 20 are the costliest to insure, with premiums as much as $532 per month if full coverage is included
  • You may be able to save around $220 per year just by quoting online well ahead of the renewal date
  • Increasing deductibles could save as much as $800 each year
  • You may be able to save around $220 per year just by quoting online well ahead of the renewal date

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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