BMW M3 Insurance Rates

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UPDATED: May 4, 2024

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Estimated insurance prices for a BMW M3 are $1,766 every 12 months for full coverage. Comprehensive insurance costs around $406, collision insurance costs $804, and liability is estimated at $398. A policy with only liability insurance costs approximately $460 a year, and a high-risk policy costs $3,842 or more. Teens pay the most at up to $6,388 a year.

Average premium for full coverage: $1,766

Premium estimates for type of coverage:

Comprehensive $406
Collision $804
Liability $398

Prices include $500 comprehensive and collision deductibles, 30/60 split liability limits, and includes UM/UIM and medical coverage. Rates include averaging for all states and for all M3 models.

Insurance Price Range by Risk and Coverage

For an average driver, insurance rates for a BMW M3 range from the cheapest price of $460 for a discount liability-only rate to the much higher price of $3,842 for a high-risk insurance policy.

Liability Only $460
Full Coverage $1,766
High Risk $3,842

Insurance Price Range by Location

Living in a larger city can make a big difference on auto insurance rates. Areas with sparse population are statistically proven to have more infrequent accident claims than cities with more traffic congestion. The example below illustrates the effect of geographic area on auto insurance rates.

Rural Areas $1,325
Small Cities $1,854
Large Cities $2,384

These rate differences show why everyone should get quotes for a specific zip code 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.

Rates by State, City, and Model

The chart below shows average BMW M3 insurance rates for additional coverage choices and driver risks.

  • The cheapest rate after discounts is $988
  • Choosing higher $1,000 deductibles can save about $272 a year
  • The average price for a 40-year-old good driver using $500 deductibles is $1,766
  • Selecting pricier low deductibles for comp and collision coverage costs an extra $538 annually
  • Higher-risk drivers with serious driving violations could pay at least $3,842
  • An auto insurance policy to insure a 16-year-old driver for full coverage can be $6,388 each year

View Chart as Image

BMW M3 insurance cost comparison chart
Column chart showing BMW M3 insurance prices range from $988 to $6,388 for full coverage

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

Choosing higher comprehensive and collision insurance deductibles can save as much as $810 annually, whereas buying more liability protection will increase prices. Going from a 50/100 liability limit to a 250/500 limit will cost up to $358 extra every 12 months. View Rates by Deductible or Liability Limit

A more mature driver with no driving violations and higher deductibles may pay as low as $1,600 annually on average, or $133 per month, for full coverage. Prices are much higher for drivers in their teens, since even excellent drivers will be charged as much as $6,300 a year. View Rates by Age

If you have a few violations or you were responsible for an accident, you could be paying at least $2,100 to $2,800 extra annually, depending on your age. BMW M3 insurance for high-risk drivers ranges from 44% to 133% more than the average policy. View High Risk Driver Rates

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 $1,170 a year in states like Idaho, Maine, and Iowa, or have to pay at least $2,520 on average in Michigan, Louisiana, and New York.

BMW M3 Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,598 -$168 -9.5%
Alaska $1,356 -$410 -23.2%
Arizona $1,468 -$298 -16.9%
Arkansas $1,766 -$0 0.0%
California $2,014 $248 14.0%
Colorado $1,688 -$78 -4.4%
Connecticut $1,818 $52 2.9%
Delaware $2,000 $234 13.3%
Florida $2,210 $444 25.1%
Georgia $1,632 -$134 -7.6%
Hawaii $1,270 -$496 -28.1%
Idaho $1,196 -$570 -32.3%
Illinois $1,320 -$446 -25.3%
Indiana $1,330 -$436 -24.7%
Iowa $1,194 -$572 -32.4%
Kansas $1,680 -$86 -4.9%
Kentucky $2,412 $646 36.6%
Louisiana $2,616 $850 48.1%
Maine $1,092 -$674 -38.2%
Maryland $1,458 -$308 -17.4%
Massachusetts $1,414 -$352 -19.9%
Michigan $3,070 $1,304 73.8%
Minnesota $1,480 -$286 -16.2%
Mississippi $2,120 $354 20.0%
Missouri $1,570 -$196 -11.1%
Montana $1,900 $134 7.6%
Nebraska $1,394 -$372 -21.1%
Nevada $2,120 $354 20.0%
New Hampshire $1,276 -$490 -27.7%
New Jersey $1,976 $210 11.9%
New Mexico $1,566 -$200 -11.3%
New York $1,862 $96 5.4%
North Carolina $1,018 -$748 -42.4%
North Dakota $1,448 -$318 -18.0%
Ohio $1,220 -$546 -30.9%
Oklahoma $1,818 $52 2.9%
Oregon $1,618 -$148 -8.4%
Pennsylvania $1,686 -$80 -4.5%
Rhode Island $2,358 $592 33.5%
South Carolina $1,602 -$164 -9.3%
South Dakota $1,492 -$274 -15.5%
Tennessee $1,548 -$218 -12.3%
Texas $2,130 $364 20.6%
Utah $1,308 -$458 -25.9%
Vermont $1,210 -$556 -31.5%
Virginia $1,058 -$708 -40.1%
Washington $1,366 -$400 -22.7%
West Virginia $1,622 -$144 -8.2%
Wisconsin $1,224 -$542 -30.7%
Wyoming $1,574 -$192 -10.9%

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 $1,682 $140
BMW M3 CI 2-Dr Coupe $1,810 $151
BMW M3 2-Dr Convertible $1,810 $151

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 $424 $810 $390 $1,782
2023 BMW M3 $406 $804 $398 $1,766
2022 BMW M3 $394 $784 $416 $1,752
2021 BMW M3 $380 $752 $430 $1,720
2020 BMW M3 $358 $726 $442 $1,684
2019 BMW M3 $344 $674 $452 $1,628
2018 BMW M3 $332 $634 $456 $1,580
2017 BMW M3 $318 $568 $460 $1,504
2016 BMW M3 $296 $522 $460 $1,436
2015 BMW M3 $286 $490 $464 $1,398
2013 BMW M3 $258 $424 $474 $1,314
2012 BMW M3 $252 $386 $478 $1,274
2011 BMW M3 $234 $354 $474 $1,220
2010 BMW M3 $220 $320 $474 $1,172
2009 BMW M3 $214 $288 $468 $1,128
2008 BMW M3 $210 $282 $460 $1,110
2006 BMW M3 $190 $254 $446 $1,048
2005 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 the Right BMW M3 Insurance

Finding better rates on insurance for a BMW M3 takes avoiding accidents and violations, maintaining a good credit score, not filing small claims, and consideration of higher deductibles. Take the time to compare rates at least every other year by getting rate quotes from direct carriers, and also from local exclusive and independent agents.

The list below is a quick rundown of the car insurance concepts covered in the above illustrations.

  • Drivers considered higher risk with reckless driving or DUI convictions may pay on average $2,080 more every year for car insurance
  • Drivers can save up to $220 per year just by quoting online well ahead of the renewal date
  • Increasing policy deductibles could save as much as $800 each year
  • Insureds who may need higher liability limits will pay approximately $440 each year to raise limits from 30/60 bodily injury limits to a 250/500 level

Rates by Driver Age

BMW M3 Insurance Rates by Driver Age
Driver Age Premium
16 $6,388
20 $4,104
30 $1,864
40 $1,766
50 $1,610
60 $1,580

Full coverage, $500 deductibles

Rates by Deductible

BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,304
$250 $2,054
$500 $1,766
$1,000 $1,494

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,766
50/100 $1,890
100/300 $1,989
250/500 $2,248
100 CSL $1,929
300 CSL $2,148
500 CSL $2,308

Full coverage, driver age 40

Rates for High Risk Drivers

BMW M3 Insurance Rates for High Risk Drivers
Age Premium
16 $9,180
20 $6,530
30 $3,952
40 $3,842
50 $3,666
60 $3,636

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 $96
Multi-vehicle $92
Homeowner $24
5-yr Accident Free $141
5-yr Claim Free $116
Paid in Full/EFT $88
Advance Quote $92
Online Quote $129
Total Discounts $778
Rate after discounts $988

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

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