BMW M3 Insurance Rates

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Nov 18, 2021

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U.S. average insurance prices for a BMW M3 are $1,684 every 12 months including full coverage. Comprehensive insurance costs approximately $358, collision costs $726, and liability costs $442. Buying just liability costs as little as $496 a year, with insurance for high-risk drivers costing $3,676 or more. Teens pay the highest rates at $6,218 a year or more.

Average premium for full coverage: $1,684

Price estimates by individual coverage:

Comprehensive $358
Collision $726
Liability $442

Price estimates include $500 policy deductibles, bodily injury liability limits of 30/60, and includes medical and UM/UIM coverage. Estimates are averaged for all 50 U.S. states and for different M3 trim levels.

Price Range from Low to High

For the normal driver, BMW M3 insurance prices go from the cheapest price of $496 for just liability insurance to a much higher rate of $3,676 for a driver who has had serious violations or accidents.

Liability Only $496
Full Coverage $1,684
High Risk $3,676

Geographic Price Range

Your location can have significant affects on car insurance prices. Rural locations have more infrequent comprehensive and collision claims than cities with more traffic congestion.

The price range example below illustrates how geographic area affects auto insurance prices.

Rural Areas $1,263
Small Cities $1,768
Large Cities $2,273

The ranges above highlight why anyone shopping for car insurance should compare rates using their specific location and their own driving history, instead of using averaged prices.

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

  • The cheapest rate after discounts is $944
  • Drivers who choose higher $1,000 deductibles will pay $246 every year
  • The average price for the average middle-age driver who chooses $500 deductibles is $1,684
  • Selecting more expensive low deductibles for comprehensive and collision insurance costs an extra $482 every year
  • Higher-risk drivers with serious driving violations could pay around $3,676 or more
  • The price to insure a teen driver with full coverage can cost $6,218 a year

View Chart as Image

BMW M3 insurance cost comparison chart
Column chart showing full coverage BMW M3 insurance prices range from $944 to $6,218

Insurance prices for a BMW M3 are also quite variable based on deductibles and policy limits, your driving characteristics, and the model of your M3.

Choosing higher comprehensive and collision insurance deductibles could save up to $730 every year, while increasing your policy's liability limits will push prices upward. Changing from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $398 more each year. View Rates by Deductible or Liability Limit

An older driver with no violations or accidents and higher deductibles may pay as little as $1,600 per year on average for full coverage. Prices are much higher for teenage drivers, since even excellent drivers should be prepared to pay in the ballpark of $6,200 a year. View Rates by Age

If you have some driving violations or you were responsible for an accident, you are likely paying anywhere from $2,000 to $2,700 additional each year, depending on your age. High-risk driver insurance can cost as much as 43% to 132% more than the average policy. View High Risk Driver Rates

The state you live in makes a big difference in BMW M3 insurance prices. A 40-year-old driver could pay as low as $1,290 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,400 on average in Louisiana, New York, and Michigan.

BMW M3 Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,524 -$160 -9.5%
Alaska $1,292 -$392 -23.3%
Arizona $1,400 -$284 -16.9%
Arkansas $1,684 -$0 0.0%
California $1,920 $236 14.0%
Colorado $1,608 -$76 -4.5%
Connecticut $1,732 $48 2.9%
Delaware $1,906 $222 13.2%
Florida $2,106 $422 25.1%
Georgia $1,556 -$128 -7.6%
Hawaii $1,210 -$474 -28.1%
Idaho $1,140 -$544 -32.3%
Illinois $1,256 -$428 -25.4%
Indiana $1,270 -$414 -24.6%
Iowa $1,136 -$548 -32.5%
Kansas $1,602 -$82 -4.9%
Kentucky $2,300 $616 36.6%
Louisiana $2,494 $810 48.1%
Maine $1,040 -$644 -38.2%
Maryland $1,390 -$294 -17.5%
Massachusetts $1,348 -$336 -20.0%
Michigan $2,926 $1,242 73.8%
Minnesota $1,410 -$274 -16.3%
Mississippi $2,020 $336 20.0%
Missouri $1,494 -$190 -11.3%
Montana $1,812 $128 7.6%
Nebraska $1,328 -$356 -21.1%
Nevada $2,020 $336 20.0%
New Hampshire $1,212 -$472 -28.0%
New Jersey $1,882 $198 11.8%
New Mexico $1,492 -$192 -11.4%
New York $1,776 $92 5.5%
North Carolina $970 -$714 -42.4%
North Dakota $1,380 -$304 -18.1%
Ohio $1,164 -$520 -30.9%
Oklahoma $1,730 $46 2.7%
Oregon $1,542 -$142 -8.4%
Pennsylvania $1,608 -$76 -4.5%
Rhode Island $2,248 $564 33.5%
South Carolina $1,526 -$158 -9.4%
South Dakota $1,422 -$262 -15.6%
Tennessee $1,476 -$208 -12.4%
Texas $2,030 $346 20.5%
Utah $1,248 -$436 -25.9%
Vermont $1,154 -$530 -31.5%
Virginia $1,012 -$672 -39.9%
Washington $1,302 -$382 -22.7%
West Virginia $1,544 -$140 -8.3%
Wisconsin $1,166 -$518 -30.8%
Wyoming $1,502 -$182 -10.8%

View Chart as Image

BMW M3 insurance rates by U.S. city

Since prices can be so different, the best way to figure out who has the best auto insurance prices is to compare prices and see which company has the best price. Every company calculates prices differently, and prices may be quite different.

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 $1,608 $134
BMW M3 CI 2-Dr Coupe $1,722 $144
BMW M3 2-Dr Convertible $1,722 $144

Rates assume 2018 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
2018 BMW M3 $358 $726 $442 $1,684
2015 BMW M3 $318 $568 $460 $1,504
2011 BMW M3 $258 $424 $474 $1,314
2009 BMW M3 $234 $354 $474 $1,220
2008 BMW M3 $220 $320 $474 $1,172
2006 BMW M3 $210 $282 $460 $1,110
2005 BMW M3 $206 $268 $452 $1,084
2004 BMW M3 $190 $254 $446 $1,048
2003 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 Cheaper BMW M3 Insurance

Getting lower rates on car insurance not only requires being safe and accident-free, but also having above-average credit, being claim-free, and qualifying for all possible discounts. Invest the time to compare rates every other policy renewal by requesting quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from your local car insurance providers.

Below you'll find a condensed summary of the ideas that were presented in the illustrations above.

  • Youthful drivers are the costliest to insure, possibly costing $518 a month if full coverage is included
  • Higher risk drivers with multiple at-fault accidents could be charged and average of $1,990 more per year than a low-risk driver
  • Increasing physical damage deductibles could save as much as $725 each year
  • You may be able to save around $210 per year simply by shopping early and online

Rates by Driver Age

BMW M3 Insurance Rates by Driver Age
Driver Age Premium
16 $6,218
20 $3,920
30 $1,766
40 $1,684
50 $1,538
60 $1,510

Full coverage, $500 deductibles

Rates by Deductible

BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,166
$250 $1,942
$500 $1,684
$1,000 $1,438

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,684
50/100 $1,810
100/300 $1,921
250/500 $2,208
100 CSL $1,855
300 CSL $2,098
500 CSL $2,275

Full coverage, driver age 40

Rates for High Risk Drivers

BMW M3 Insurance Rates for High Risk Drivers
Age Premium
16 $8,916
20 $6,254
30 $3,766
40 $3,676
50 $3,508
60 $3,478

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 $243

Potential Rate Discounts

If you qualify for discounts, you may save the amounts shown below.

Discount Savings
Multi-policy $92
Multi-vehicle $90
Homeowner $24
5-yr Accident Free $132
5-yr Claim Free $111
Paid in Full/EFT $82
Advance Quote $87
Online Quote $122
Total Discounts $740
Rate after discounts $944

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

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