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: May 4, 2024

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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:

Comprehensive $424
Collision $810
Liability $390

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.

Liability Only $452
Full Coverage $1,782
High Risk $3,868

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.

Rural Areas $1,337
Small Cities $1,871
Large Cities $2,406

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

View Chart as Image

BMW M3 insurance cost comparison chart
Column chart showing BMW M3 insurance prices range from $999 to $6,400 for full coverage

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.

BMW M3 Insurance Rates by State
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%

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 $1,696 $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.

BMW M3 Insurance Rates by Model Year
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

Rates by Driver Age

BMW M3 Insurance 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

BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,330
$250 $2,076
$500 $1,782
$1,000 $1,502

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
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

BMW M3 Insurance 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.

SR-22 Surcharge $253

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
Rate after discounts $999

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

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