BMW M3 Insurance Rates
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UPDATED: May 4, 2024
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The average auto insurance rates for a BMW M3 are $1,782 annually including full coverage. Comprehensive costs approximately $424, collision insurance costs $810, and liability insurance is $390. Liability-only insurance costs around $452 a year, and high-risk driver insurance costs around $3,868. 16-year-old drivers cost the most to insure at up to $6,400 a year.
Average premium for full coverage: $1,782
Policy rates by type of insurance:
Full coverage includes $500 policy deductibles, 30/60 bodily injury liability limits, and includes additional medical/uninsured motorist coverage. Prices are averaged for all 50 U.S. states and for all M3 models.
Price Range Variability
For a driver in their 40's, BMW M3 insurance rates range from as cheap as $452 for just the minimum liability insurance to the much higher price of $3,868 for a driver who requires high-risk insurance.
Urban vs. Rural Price Range
Choosing to live in a large city has a significant impact on car insurance prices. Rural locations are shown to have fewer comprehensive and collision claims than congested cities. The example below illustrates how location helps determine auto insurance prices.
The examples above highlight why everyone should compare rates quotes using their specific location and their own personal driving habits, rather than relying on rate 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 Analysis
The chart below breaks down average BMW M3 insurance rates for additional coverage and risk scenarios.
- The best full coverage rate is $999
- Raising to $1,000 deductibles will save $280 every year
- The estimated rate for a good driver age 40 who chooses $500 deductibles is $1,782
- Buying pricier low deductibles will cost $2,330
- Higher-risk drivers with multiple tickets or accidents could pay around $3,868
- Policy cost with full coverage for a teen driver for full coverage can cost $6,400
Auto insurance rates for a BMW M3 also range considerably based on the model year and trim level, your driving characteristics, and physical damage deductibles and liability limits.
A more mature driver with a good driving record and high physical damage deductibles could pay as little as $1,600 every 12 months on average, or $133 per month, for full coverage. Rates are highest for teenagers, where even without any violations or accidents they will have to pay in the ballpark of $6,400 a year. View Rates by Age
If you have a few points on your driving record or you caused a few accidents, you are likely paying anywhere from $2,100 to $2,800 in extra premium every year, depending on your age. BMW M3 insurance for high-risk drivers is expensive and can cost anywhere from 44% to 132% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles can reduce rates by up to $830 each year, whereas buying more liability protection will push rates upward. Changing from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $351 extra every year. View Rates by Deductible or Liability Limit
Your home state also has a big influence on BMW M3 insurance rates. A middle-age driver might find rates as low as $1,370 a year in states like Vermont, New Hampshire, and Missouri, or at least $2,540 on average in Louisiana, New York, and Michigan.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,612 | -$170 | -9.5% |
| Alaska | $1,368 | -$414 | -23.2% |
| Arizona | $1,480 | -$302 | -16.9% |
| Arkansas | $1,782 | -$0 | 0.0% |
| California | $2,032 | $250 | 14.0% |
| Colorado | $1,704 | -$78 | -4.4% |
| Connecticut | $1,832 | $50 | 2.8% |
| Delaware | $2,018 | $236 | 13.2% |
| Florida | $2,230 | $448 | 25.1% |
| Georgia | $1,646 | -$136 | -7.6% |
| Hawaii | $1,280 | -$502 | -28.2% |
| Idaho | $1,208 | -$574 | -32.2% |
| Illinois | $1,328 | -$454 | -25.5% |
| Indiana | $1,344 | -$438 | -24.6% |
| Iowa | $1,204 | -$578 | -32.4% |
| Kansas | $1,694 | -$88 | -4.9% |
| Kentucky | $2,432 | $650 | 36.5% |
| Louisiana | $2,640 | $858 | 48.1% |
| Maine | $1,100 | -$682 | -38.3% |
| Maryland | $1,470 | -$312 | -17.5% |
| Massachusetts | $1,426 | -$356 | -20.0% |
| Michigan | $3,098 | $1,316 | 73.8% |
| Minnesota | $1,492 | -$290 | -16.3% |
| Mississippi | $2,134 | $352 | 19.8% |
| Missouri | $1,582 | -$200 | -11.2% |
| Montana | $1,916 | $134 | 7.5% |
| Nebraska | $1,406 | -$376 | -21.1% |
| Nevada | $2,138 | $356 | 20.0% |
| New Hampshire | $1,284 | -$498 | -27.9% |
| New Jersey | $1,994 | $212 | 11.9% |
| New Mexico | $1,580 | -$202 | -11.3% |
| New York | $1,878 | $96 | 5.4% |
| North Carolina | $1,026 | -$756 | -42.4% |
| North Dakota | $1,462 | -$320 | -18.0% |
| Ohio | $1,232 | -$550 | -30.9% |
| Oklahoma | $1,832 | $50 | 2.8% |
| Oregon | $1,632 | -$150 | -8.4% |
| Pennsylvania | $1,700 | -$82 | -4.6% |
| Rhode Island | $2,378 | $596 | 33.4% |
| South Carolina | $1,616 | -$166 | -9.3% |
| South Dakota | $1,504 | -$278 | -15.6% |
| Tennessee | $1,564 | -$218 | -12.2% |
| Texas | $2,148 | $366 | 20.5% |
| Utah | $1,320 | -$462 | -25.9% |
| Vermont | $1,220 | -$562 | -31.5% |
| Virginia | $1,068 | -$714 | -40.1% |
| Washington | $1,378 | -$404 | -22.7% |
| West Virginia | $1,634 | -$148 | -8.3% |
| Wisconsin | $1,234 | -$548 | -30.8% |
| Wyoming | $1,590 | -$192 | -10.8% |
Insurance Rates by Trim Level and Model Year
| Model and Trim | Annual Premium | Monthly Premium |
|---|---|---|
| BMW M3 4-Dr Sedan | $1,696 | $141 |
| BMW M3 CI 2-Dr Coupe | $1,826 | $152 |
| BMW M3 2-Dr Convertible | $1,826 | $152 |
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.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 BMW M3 | $444 | $844 | $372 | $1,818 |
| 2023 BMW M3 | $424 | $810 | $390 | $1,782 |
| 2022 BMW M3 | $406 | $804 | $398 | $1,766 |
| 2021 BMW M3 | $394 | $784 | $416 | $1,752 |
| 2020 BMW M3 | $380 | $752 | $430 | $1,720 |
| 2019 BMW M3 | $358 | $726 | $442 | $1,684 |
| 2018 BMW M3 | $344 | $674 | $452 | $1,628 |
| 2017 BMW M3 | $332 | $634 | $456 | $1,580 |
| 2016 BMW M3 | $318 | $568 | $460 | $1,504 |
| 2015 BMW M3 | $296 | $522 | $460 | $1,436 |
| 2013 BMW M3 | $280 | $458 | $474 | $1,370 |
| 2012 BMW M3 | $258 | $424 | $474 | $1,314 |
| 2011 BMW M3 | $252 | $386 | $478 | $1,274 |
| 2010 BMW M3 | $234 | $354 | $474 | $1,220 |
| 2009 BMW M3 | $220 | $320 | $474 | $1,172 |
| 2008 BMW M3 | $214 | $288 | $468 | $1,128 |
| 2006 BMW M3 | $206 | $268 | $452 | $1,084 |
| 2005 BMW M3 | $190 | $254 | $446 | $1,048 |
| 2004 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 Buy More Affordable BMW M3 Insurance
Finding cheaper rates on BMW M3 insurance consists of being safe and accident-free, having above-average credit, paying for small claims out-of-pocket, and possibly higher deductibles. Invest time comparing rates at every other renewal by getting rate quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from local insurance agencies.
Below you'll find a summary of the concepts that were covered in the charts and tables above.
- High-risk drivers who have multiple accidents or major violations may have to pay on average $2,090 more per year than a low-risk driver
- Youthful drivers have the highest car insurance rates, with premiums being up to $533 each 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 comprehensive and collision deductibles could save up to $825 each year
- You may be able to save around $220 per year just by quoting online well ahead of the renewal date
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,400 |
| 20 | $4,122 |
| 30 | $1,880 |
| 40 | $1,782 |
| 50 | $1,624 |
| 60 | $1,592 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,330 |
| $250 | $2,076 |
| $500 | $1,782 |
| $1,000 | $1,502 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,782 |
| 50/100 | $1,904 |
| 100/300 | $2,002 |
| 250/500 | $2,255 |
| 100 CSL | $1,943 |
| 300 CSL | $2,158 |
| 500 CSL | $2,314 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,196 |
| 20 | $6,562 |
| 30 | $3,976 |
| 40 | $3,868 |
| 50 | $3,686 |
| 60 | $3,656 |
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.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
| Discount | Savings |
|---|---|
| Multi-policy | $97 |
| Multi-vehicle | $92 |
| Homeowner | $24 |
| 5-yr Accident Free | $141 |
| 5-yr Claim Free | $117 |
| Paid in Full/EFT | $89 |
| Advance Quote | $93 |
| Online Quote | $130 |
| Total Discounts | $783 |
Discounts are estimated and may not be available from every company or in every state.
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