BMW M3 Insurance Rates

Estimated insurance prices for a BMW M3 are $1,818 every 12 months with full coverage. Comprehensive insurance costs an estimated $444 each year, collision insurance costs $844, and liability is $372. A policy with only liability insurance costs around $438 a year, and a high-risk policy costs $3,942 or more. Teens pay the most at up to $6,474 a year.

Average premium for full coverage: $1,818

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

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.

More Rate Details

The chart below details average BMW M3 insurance rates for other coverage scenarios.

• The cheapest rate after discounts is $1,017
• Raising to $1,000 deductibles will save approximately $292 annually
• The average price for a 40-year-old good driver who has $500 deductibles is $1,818
• Selecting low deductibles costs an extra $570 annually
• Drivers with serious driving violations could pay up to $3,942
• An auto insurance policy to insure a 16-year-old driver can cost as much as $6,474

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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 $870 annually, whereas increasing liability limits will increase premiums. Moving from a 50/100 liability limit to a 250/500 limit will cost up to $335 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 $1,700 every 12 months on average, or $142 per month, for full coverage. Prices are much higher for drivers in their teens, since even excellent drivers will be charged at least $6,400 a year. View Rates by Age

If you have a few violations or you were responsible for an accident, you may be forking out $2,100 to $2,900 extra annually, depending on your age. Insurance for high-risk drivers is expensive and can cost from 45% to 129% 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 $1,310 a year in states like Utah, Ohio, and New Hampshire, or have to pay at least $2,450 on average in New York, Michigan, and Florida.

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Insurance Rates by Trim Level and Model Year

Rates assume 2024 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.

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 $410 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 $540 per month if the policy includes full coverage
• Drivers considered higher risk who have multiple accidents or major violations may pay on average $2,120 more annually to insure a BMW M3
• Increasing policy deductibles could save as much as $850 each year