BMW M3 Insurance Rates
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Michelle Robbins
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Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
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UPDATED: May 28, 2023
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U.S. average insurance rates for a BMW M3 are $1,766 a year for full coverage insurance. Comprehensive costs around $406 each year, collision insurance costs $804, and liability is $398. Liability-only insurance costs around $460 a year, and high-risk driver insurance costs around $3,842. Teen drivers pay the highest rates at up to $6,388 a year.
Average premium for full coverage: $1,766
Price estimates for individual coverage:
Estimates include $500 deductible amounts, minimum liability limits, and includes additional medical/uninsured motorist coverage. Estimates are averaged for all 50 states and M3 models.
Price Range from Low to High
For a driver in their 40's, BMW M3 insurance prices range from the low end price of $460 for just the minimum liability insurance to a high rate of $3,842 for high-risk insurance.
Geographic Price Range
Choosing to live in a large city can make a big difference on car insurance rates. Areas with sparse population have lower incidents of physical damage claims than larger metro areas. The graphic below illustrates how location helps determine auto insurance rates.
The ranges above illustrate why all drivers should compare rates quotes for a specific zip code, 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 Analysis
The chart below illustrates average BMW M3 insurance rates for additional coverage choices and driver risks.
- The lowest rate with discounts is $988
- Raising to $1,000 deductibles will save about $272 each year
- The estimated price for the average middle-age driver using $500 deductibles is $1,766
- Choosing low deductibles bumps up the cost to $2,304
- Drivers with multiple violations and an at-fault accident could pay at least $3,842
- The price that insures a 16-year-old driver can be $6,388
Car insurance prices for a BMW M3 are also quite variable based on the trim level and model year, your age and driving record, and deductibles and policy limits.
If you have some driving violations or you caused an accident, you are probably paying at least $2,100 to $2,800 extra each year, depending on your age. Insurance for high-risk drivers is expensive and can cost from 44% to 133% more than average. View High Risk Driver Rates
More mature drivers with no driving violations and higher comprehensive and collision deductibles may pay as low as $1,600 every 12 months on average for full coverage. Prices are highest for teenage drivers, since even teens with perfect driving records will be charged as much as $6,300 a year. View Rates by Age
The state you live in also has a big influence on BMW M3 insurance prices. A middle-age driver might find prices as low as $1,160 a year in states like Vermont, Wisconsin, and North Carolina, or as much as $2,390 on average in Michigan, New York, and Florida.
| 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% |
Choosing high deductibles can reduce prices by up to $810 annually, whereas increasing liability limits will increase prices. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $358 extra every 12 months. View Rates by Deductible or Liability Limit
Insurance Rates by Trim Level and Model Year
| 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.
| 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 Find Low Cost BMW M3 Insurance
Getting lower rates on insurance for a BMW M3 consists of having a good driving record, having a positive credit history, not filing small claims, and consideration of higher deductibles. Shop around every couple of years by obtaining price quotes from direct insurance companies, and also from insurance agencies where you live.
The next list is a review of the material that was covered in the charts and tables above.
- Insureds who may need increased levels of liability coverage will pay about $440 annually to raise from a low limit to the 250/500 level
- Drivers age 20 and younger are the costliest to insure, as much as $532 a month if full coverage is purchased
- Drivers considered higher risk who have several accidents or serious violations could be forced to pay on average $2,080 more every year to buy BMW M3 insurance
- Increasing physical damage deductibles can save approximately $800 each year
Rate Tables and Charts
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
| Deductible | Premium |
|---|---|
| $100 | $2,304 |
| $250 | $2,054 |
| $500 | $1,766 |
| $1,000 | $1,494 |
Full coverage, driver age 40
Rates by Liability Limit
| 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
| 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.
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 |
Discounts are estimated and may not be available from every company or in every state.
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