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...

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UPDATED: Jun 6, 2023

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Estimated insurance prices for a BMW M3 are $1,628 every 12 months with full coverage. Comprehensive insurance costs an estimated $344 each year, collision insurance costs $674, and liability is $452. A policy with only liability insurance costs around $504 a year, and a high-risk policy costs $3,546 or more. Teens pay the most at up to $6,032 a year.

Average premium for full coverage: $1,628

Premium estimates broken down by type of coverage:

Comprehensive $344
Collision $674
Liability $452

Full coverage includes $500 policy deductibles, minimum liability limits, and includes medical and UM/UIM coverage. Rates include averaging for all U.S. states and M3 models.

Insurance Price Range by Risk and Coverage

For a 40-year-old driver, insurance rates for a BMW M3 range from the cheapest price of $504 for just liability insurance to a high rate of $3,546 for high-risk insurance.

Liability Only $504
Full Coverage $1,628
High Risk $3,546

Insurance Price Range by Location

Choosing to live in a large city can make a big difference on car insurance rates. More rural locations are statistically proven to have more infrequent collision claims than cities with more traffic congestion. The graphic below illustrates how your location can change insurance prices.

Rural Areas $1,221
Small Cities $1,709
Large Cities $2,198

These rate differences demonstrate why all drivers should compare rates quotes for a targeted area and their own driving history, instead of making a decision based on 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 details average BMW M3 insurance rates for other coverage scenarios.

  • The cheapest rate after discounts is $918
  • Raising to $1,000 deductibles will save approximately $230 annually
  • The average price for a 40-year-old good driver who has $500 deductibles is $1,628
  • Selecting low deductibles costs an extra $450 annually
  • Drivers with serious driving violations could pay up to $3,546
  • An auto insurance policy to insure a 16-year-old driver can cost as much as $6,032

View Chart as Image

BMW M3 insurance cost comparison chart
Column chart showing BMW M3 insurance prices range from $918 to $6,032 for full coverage

Car insurance prices for a BMW M3 also have a wide range based on physical damage deductibles and liability limits, your driving record, and the model year and trim level.

Choosing higher comprehensive and collision insurance deductibles can reduce prices by up to $680 annually, whereas increasing liability limits will increase premiums. Moving from a 50/100 liability limit to a 250/500 limit will cost up to $407 extra every 12 months. View Rates by Deductible or Liability Limit

More mature drivers with no driving violations and higher deductibles may pay as low as $1,500 every 12 months on average, or $125 per month, for full coverage. Prices are much higher for drivers in their teens, since even excellent drivers will be charged at least $6,000 a year. View Rates by Age

If you have a few violations or you were responsible for an accident, you may be forking out $1,900 to $2,700 extra annually, depending on your age. Insurance for high-risk drivers is expensive and can cost from 45% to 130% more than the average policy. View High Risk Driver Rates

Where you choose to live also has a big influence on BMW M3 insurance prices. A middle-age driver might find prices as low as $1,170 a year in states like Utah, Ohio, and New Hampshire, or have to pay at least $2,200 on average in New York, Michigan, and Florida.

BMW M3 Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,472 -$156 -9.6%
Alaska $1,248 -$380 -23.3%
Arizona $1,350 -$278 -17.1%
Arkansas $1,628 -$0 0.0%
California $1,856 $228 14.0%
Colorado $1,554 -$74 -4.5%
Connecticut $1,674 $46 2.8%
Delaware $1,842 $214 13.1%
Florida $2,036 $408 25.1%
Georgia $1,502 -$126 -7.7%
Hawaii $1,170 -$458 -28.1%
Idaho $1,102 -$526 -32.3%
Illinois $1,212 -$416 -25.6%
Indiana $1,226 -$402 -24.7%
Iowa $1,096 -$532 -32.7%
Kansas $1,548 -$80 -4.9%
Kentucky $2,220 $592 36.4%
Louisiana $2,408 $780 47.9%
Maine $1,004 -$624 -38.3%
Maryland $1,342 -$286 -17.6%
Massachusetts $1,302 -$326 -20.0%
Michigan $2,828 $1,200 73.7%
Minnesota $1,362 -$266 -16.3%
Mississippi $1,950 $322 19.8%
Missouri $1,444 -$184 -11.3%
Montana $1,748 $120 7.4%
Nebraska $1,284 -$344 -21.1%
Nevada $1,954 $326 20.0%
New Hampshire $1,174 -$454 -27.9%
New Jersey $1,820 $192 11.8%
New Mexico $1,442 -$186 -11.4%
New York $1,714 $86 5.3%
North Carolina $938 -$690 -42.4%
North Dakota $1,334 -$294 -18.1%
Ohio $1,124 -$504 -31.0%
Oklahoma $1,670 $42 2.6%
Oregon $1,490 -$138 -8.5%
Pennsylvania $1,552 -$76 -4.7%
Rhode Island $2,172 $544 33.4%
South Carolina $1,474 -$154 -9.5%
South Dakota $1,372 -$256 -15.7%
Tennessee $1,426 -$202 -12.4%
Texas $1,962 $334 20.5%
Utah $1,206 -$422 -25.9%
Vermont $1,114 -$514 -31.6%
Virginia $974 -$654 -40.2%
Washington $1,258 -$370 -22.7%
West Virginia $1,492 -$136 -8.4%
Wisconsin $1,126 -$502 -30.8%
Wyoming $1,452 -$176 -10.8%

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 $1,558 $130
BMW M3 CI 2-Dr Coupe $1,664 $139
BMW M3 2-Dr Convertible $1,664 $139

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 $344 $674 $452 $1,628
2015 BMW M3 $296 $522 $460 $1,436
2011 BMW M3 $252 $386 $478 $1,274
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 Shop for More Affordable BMW M3 Insurance

Finding better rates on insurance for a BMW M3 consists of avoiding accidents and claims, maintaining a good credit score, being claim-free, and possibly higher deductibles. Invest the time to shop around every couple of years by requesting quotes from direct companies, and also from your local independent and exclusive agents.

The points below are a summary of the material that was illustrated above.

  • Insureds who want increased liability limits will pay approximately $500 every year to raise from 30/60 bodily injury limits to a 250/500 level
  • Drivers under the age of 20 have the highest car insurance prices, possibly costing $503 per month if the policy includes full coverage
  • Drivers considered higher risk who have multiple accidents or major violations may pay on average $1,920 more annually to insure a BMW M3
  • Increasing policy deductibles could save as much as $675 each year

Rates by Driver Age

BMW M3 Insurance Rates by Driver Age
Driver Age Premium
16 $6,032
20 $3,780
30 $1,702
40 $1,628
50 $1,486
60 $1,458

Full coverage, $500 deductibles

Rates by Deductible

BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,078
$250 $1,868
$500 $1,628
$1,000 $1,398

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,628
50/100 $1,754
100/300 $1,867
250/500 $2,161
100 CSL $1,800
300 CSL $2,048
500 CSL $2,229

Full coverage, driver age 40

Rates for High Risk Drivers

BMW M3 Insurance Rates for High Risk Drivers
Age Premium
16 $8,640
20 $6,024
30 $3,626
40 $3,546
50 $3,384
60 $3,354

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 $233

Potential Rate Discounts

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

Discount Savings
Multi-policy $88
Multi-vehicle $87
Homeowner $24
5-yr Accident Free $125
5-yr Claim Free $107
Paid in Full/EFT $78
Advance Quote $83
Online Quote $118
Total Discounts $710
Rate after discounts $918

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

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