BMW M3 Insurance Rates
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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:
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.
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.
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
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.
| 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% |
Insurance Rates by Trim Level and Model Year
| 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.
| 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
Rate Tables and Charts
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
| Deductible | Premium |
|---|---|
| $100 | $2,078 |
| $250 | $1,868 |
| $500 | $1,628 |
| $1,000 | $1,398 |
Full coverage, driver age 40
Rates by Liability Limit
| 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
| 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.
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 |
Discounts are estimated and may not be available from every company or in every state.
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