BMW M3 Insurance Rates
Enter your zip code below to view companies that have cheap auto insurance rates.
UPDATED: May 4, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
Estimated auto insurance rates for a BMW M3 are $1,782 annually for full coverage insurance. Comprehensive insurance costs on average $424 a year, collision insurance costs $810, and liability is estimated at $390. Liability-only insurance costs approximately $452 a year, and high-risk driver insurance costs $3,868 or more. Teen drivers pay the most at up to $6,400 a year.
Average premium for full coverage: $1,782
Premium estimates by type of coverage:
Rates are based on $500 deductible amounts, 30/60 liability limits, and includes both medical and uninsured motorist insurance. Rates include averaging for all 50 states and M3 trim levels.
Insurance Price Range by Risk and Coverage
For a 40-year-old driver, insurance rates for a BMW M3 range from as cheap as $452 for minimum levels of liability insurance to a high of $3,868 for a driver required to buy high-risk insurance.
Insurance Price Range by Location
Living in a larger city can make a big difference on insurance rates. Rural areas are statistically proven to have fewer physical damage claims than larger metro areas. The diagram below illustrates how your location can change car insurance rates.
These rate differences illustrate why it is important to get quotes based on a specific location and their own personal driving habits, instead of making a decision based on 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 Details
The chart below illustrates average BMW M3 insurance rates for different risk profiles and scenarios.
- The lowest rate with discounts is $999
- Choosing higher $1,000 deductibles can save around $1,502 each year
- The estimated rate for a 40-year-old good driver with $500 deductibles is $1,782
- Choosing low $100 deductibles for comp and collision coverage costs an additional $548 annually
- Higher-risk drivers with multiple violations and an at-fault accident could pay upwards of $3,868
- An auto insurance policy with full coverage for a 16-year-old driver may cost $6,400 each year
Insurance prices for a BMW M3 also have a wide range based on the model of your M3, your risk profile, and policy deductibles and limits.
Older drivers with no violations or accidents and high physical damage deductibles may pay as low as $1,600 annually on average, or $133 per month, for full coverage. Prices are highest for drivers in their teens, where even without any violations or accidents they should be prepared to pay upwards of $6,400 a year. View Rates by Age
If you have a few violations or you caused a few accidents, you are probably paying at a minimum $2,100 to $2,800 additional annually, depending on your age. A high-risk auto insurance policy ranges from 44% to 132% more than average. View High Risk Driver Rates
Choosing high deductibles can save as much as $830 annually, while buying higher liability limits will cost you more. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost up to $351 more each year. View Rates by Deductible or Liability Limit
Where you choose to live plays a big part in determining prices for BMW M3 insurance prices. A good driver about age 40 could pay as low as $1,160 a year in states like Vermont, Wisconsin, and North Carolina, or as much as $2,410 on average in Michigan, New York, and Florida.
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 the Best Cheap BMW M3 Insurance
Finding better rates on insurance for a BMW M3 takes having a good driving record, having good credit, paying for small claims out-of-pocket, and dropping full coverage on older vehicles. Invest the time to shop around at every policy renewal by getting rate quotes from direct insurance companies, and also from local exclusive and independent agents.
The next list is a quick review of the data illustrated above.
- Insureds who require increased levels of liability coverage will pay about $430 annually to raise limits from 30/60 bodily injury limits to higher 250/500 limits
- It is possible to save as much as $220 per year just by quoting early and online
- Increasing policy deductibles could save up to $825 each year
- Drivers age 20 and younger pay higher prices, with premiums being up to $533 per month if they have full coverage
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.
Compare Rates and Save
Find companies with the cheapest rates in your area