BMW M3 Insurance Rates

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UPDATED: May 28, 2023

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Average auto insurance rates for a BMW M3 are $1,766 annually including full coverage. Comprehensive insurance costs around $406, collision costs $804, and liability coverage is estimated at $398. Liability-only coverage costs approximately $460 a year, with high-risk coverage costing $3,842 or more. Teens receive the highest rates at $6,388 a year or more.

Average premium for full coverage: $1,766

Rate estimates for individual coverage type:

Comprehensive $406
Collision $804
Liability $398

These estimates include $500 policy deductibles, split liability limits of 30/60, and includes medical and UM/UIM coverage. Rates are averaged for all 50 U.S. states and for different M3 trim levels.

Price Range by Coverage and Risk

Using a 40-year-old driver as an example, prices range go from as cheap as $460 for just liability insurance to a much higher rate of $3,842 for coverage for higher-risk drivers.

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

Price Range by Location

Living in a larger city has a large influence on the price of insurance. Areas with sparse population tend to have fewer comprehensive and collision claims than cities with more traffic congestion.

The price range example below illustrates how rural and urban location affects auto insurance rates.

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

These examples highlight why anyone shopping for car insurance should get quotes for a specific zip code and their own personal driving habits, rather than using 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 breaks down estimated 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 every year
  • The estimated rate for a 40-year-old driver using $500 deductibles is $1,766
  • Selecting more expensive low deductibles for comp and collision coverage costs an additional $538 each year
  • Drivers with serious driving violations could pay at least $3,842 or more
  • The cost with full coverage for a teenage driver with full coverage can be $6,388 each year

View Chart as Image

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

Car insurance rates for a BMW M3 can also vary considerably based on the trim level of your M3, your driving characteristics, and deductibles and policy limits.

An older driver with no driving violations and high physical damage deductibles may only pay around $1,600 annually on average for full coverage. Rates are much higher for teen drivers, where even without any violations or accidents they will be charged as much as $6,300 a year. View Rates by Age

If you like to drive fast or you caused a few accidents, you are likely paying at least $2,100 to $2,800 extra per year, depending on your age. High-risk driver insurance ranges around 44% to 133% more than the average policy. View High Risk Driver Rates

Choosing higher comprehensive and collision insurance deductibles can save as much as $810 a year, while increasing your policy's liability limits will increase rates. Changing from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $358 extra every 12 months. View Rates by Deductible or Liability Limit

Where you live plays a big part in determining prices for BMW M3 insurance rates. A good driver about age 40 could pay as low as $1,360 a year in states like Missouri, New Hampshire, and Vermont, or have to pay at least $2,520 on average in Michigan, New York, and Louisiana.

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

With so much variability in rates, the best way to figure out your exact price is to compare rates and see how they stack up. Each auto insurer calculates rates differently, so rate quotes can be significantly different between companies.

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 Buy Cheap BMW M3 Insurance

Saving money on auto insurance takes being safe and accident-free, having a good credit score, not filing small claims, and qualifying for all possible discounts. Set aside time to shop around at least once a year by requesting quotes from direct car insurance companies like Progressive and GEICO, and also from your local independent and exclusive agents.

Below you'll find a brief summary of the primary concepts that were raised in the charts and tables above.

  • You may be able to save up to $220 per year simply by shopping early and online
  • Drivers that tend to have accidents or serious violations may pay on average $2,080 more every year than a low-risk driver
  • Increasing deductibles could save up to $800 each year
  • Youthful drivers are the costliest to insure, as much as $532 per month if comprehensive and collision insurance is included

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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