BMW M3 Insurance Rates

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Nov 18, 2021

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Average insurance rates for a BMW M3 are $1,684 a year for full coverage. Comprehensive costs on average $358 a year, collision costs $726, and liability insurance costs $442. A liability-only policy costs as little as $496 a year, with high-risk insurance costing around $3,676. Teen drivers receive the highest rates at $6,218 a year or more.

Average premium for full coverage: $1,684

Rate estimates by individual coverage type:

Comprehensive $358
Collision $726
Liability $442

Rates include $500 deductibles, 30/60 liability limits, and includes uninsured motorist coverage. Rates are averaged for all states and M3 trim levels.

Price Range by Coverage and Risk

For a middle-aged driver, prices range go from as low as $496 for only liability insurance to a high of $3,676 for a high risk driver.

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

Price Range by Location

Your location has a significant impact on car insurance rates. Rural areas tend to have a lower frequency of accident claims than larger metro areas.

The diagram below illustrates the effect of location on car insurance rates.

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

These examples show why it is important to compare rates based on a specific location and risk profile, rather than relying 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.

Insurance Rate Analysis

The chart below shows estimated BMW M3 insurance rates for different risk profiles and scenarios.

  • The lowest rate with discounts is $944
  • Drivers who choose higher $1,000 deductibles will pay around $1,438 a year
  • The average rate for a 40-year-old driver with $500 deductibles is $1,684
  • Choosing low $100 deductibles for comprehensive and collision insurance will increase the cost to $2,166
  • High risk drivers with multiple violations and an at-fault accident could pay upwards of $3,676 or more
  • The cost for full coverage for a teen driver may cost $6,218 a year

View Chart as Image

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

for a BMW M3 can also vary considerably based on your driver profile, the trim level of your M3, and policy deductibles and limits.

Older drivers and high deductibles could pay as little as $1,600 per year on average for full coverage. Rates are highest for teen drivers, where even good drivers upwards of $6,200 a year. View Rates by Age

Where you live makes a big difference in BMW M3 insurance rates. A 40-year-old driver could pay as low as $1,110 a year in states like Idaho, Maine, and Iowa, or as much as $2,400 on average in Michigan, Louisiana, and New York.

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

Choosing high deductibles could save up to $730 each year, while buying higher liability limits will cost you more. Going from a 50/100 limit to a 250/500 limit will cost as much as $398 . View Rates by Deductible or Liability Limit

If you like to drive fast or tend to cause accidents, you could be paying at a minimum $2,000 to $2,700 per year, depending on your age. A high-risk auto insurance policy can cost anywhere from 43% to 132% more than average. View High Risk Driver Rates

With so much variability in rates, the only way to know exactly what you will pay is to get quotes from as many companies as possible. Every company uses a different rate calculation, can be significantly 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 $1,608 $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 Find Cheaper BMW M3 Insurance

Saving money on BMW M3 insurance not only requires being a safe driver, but also maintaining good credit, eliminating unneeded coverage, and bundling your home and auto policies. Take the time to shop around at least every two years by getting price quotes from direct carriers like GEICO and Progressive, and also from your local insurance agents.

Here is a summary of the information that was covered in this article.

  • Increasing deductibles can save around $725 each year
  • Drivers can save as much as $210 per year simply by quoting early and online
  • Drivers who require more liability insurance will pay about $490 each year to go from a minimum limit to 250/500 limits
  • Young drivers pay the highest rates, costing as high as $518 per month for full coverage
  • High-risk drivers that have multiple accidents or serious violations will pay on average $1,990 more each year for insurance

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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