BMW M3 Insurance Rates
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UPDATED: Jun 4, 2023
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Estimated insurance rates for a BMW M3 are $1,782 a year for full coverage. Comprehensive insurance costs around $424 each year, collision costs $810, and liability coverage is estimated at $390. A policy with only liability insurance costs approximately $452 a year, with a high-risk policy costing $3,868 or more. Teens pay the most at $6,400 a year or more.
Average premium for full coverage: $1,782
Premium estimates for type of coverage:
Price estimates include $500 policy deductibles, bodily injury liability limits of 30/60, and includes UM/UIM and medical coverage. Rates include averaging for all states and M3 models.
Insurance Price Range by Risk and Coverage
For the average 40-year-old driver, insurance rates for a BMW M3 go from as low as $452 for a discount liability-only rate to a high rate of $3,868 for a driver who has had serious violations or accidents.
Insurance Price Range by Location
Living in a larger city has a large influence on auto insurance rates. Areas with sparse population are statistically proven to have a lower frequency of accident claims than cities with more traffic congestion.
The graphic below illustrates the difference location can make on auto insurance rates.
These rate differences show why all drivers should get quotes for a specific zip code and risk profile, 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.
Rates by State, City, and Model
The chart below shows estimated BMW M3 insurance rates for additional coverage choices and driver risks.
- The cheapest rate after discounts is $999
- Choosing higher $1,000 deductibles can save about $280 a year
- The average rate for a 40-year-old good driver using $500 deductibles is $1,782
- Selecting low deductibles for comp and collision coverage will cost an extra $548 each year
- Drivers with serious driving violations could pay at least $3,868 or more
- An auto insurance policy for full coverage for a teenage driver can be $6,400 each year
Car insurance prices for a BMW M3 also have a wide range based on your driving characteristics, the trim level of your M3, and deductibles and policy limits.
More mature drivers with no driving violations and high deductibles may only pay around $1,600 annually on average, or $133 per month, for full coverage. Prices are much higher for drivers in their teens, where even good drivers will be charged as much as $6,400 a year. View Rates by Age
Where you choose to live plays a big part in determining prices for BMW M3 insurance rates. A good driver about age 40 could pay as low as $1,180 a year in states like Idaho, Maine, and Iowa, or have to pay at least $2,540 on average in Michigan, Louisiana, and New York.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,612 | -$170 | -9.5% |
| Alaska | $1,368 | -$414 | -23.2% |
| Arizona | $1,480 | -$302 | -16.9% |
| Arkansas | $1,782 | -$0 | 0.0% |
| California | $2,032 | $250 | 14.0% |
| Colorado | $1,704 | -$78 | -4.4% |
| Connecticut | $1,832 | $50 | 2.8% |
| Delaware | $2,018 | $236 | 13.2% |
| Florida | $2,230 | $448 | 25.1% |
| Georgia | $1,646 | -$136 | -7.6% |
| Hawaii | $1,280 | -$502 | -28.2% |
| Idaho | $1,208 | -$574 | -32.2% |
| Illinois | $1,328 | -$454 | -25.5% |
| Indiana | $1,344 | -$438 | -24.6% |
| Iowa | $1,204 | -$578 | -32.4% |
| Kansas | $1,694 | -$88 | -4.9% |
| Kentucky | $2,432 | $650 | 36.5% |
| Louisiana | $2,640 | $858 | 48.1% |
| Maine | $1,100 | -$682 | -38.3% |
| Maryland | $1,470 | -$312 | -17.5% |
| Massachusetts | $1,426 | -$356 | -20.0% |
| Michigan | $3,098 | $1,316 | 73.8% |
| Minnesota | $1,492 | -$290 | -16.3% |
| Mississippi | $2,134 | $352 | 19.8% |
| Missouri | $1,582 | -$200 | -11.2% |
| Montana | $1,916 | $134 | 7.5% |
| Nebraska | $1,406 | -$376 | -21.1% |
| Nevada | $2,138 | $356 | 20.0% |
| New Hampshire | $1,284 | -$498 | -27.9% |
| New Jersey | $1,994 | $212 | 11.9% |
| New Mexico | $1,580 | -$202 | -11.3% |
| New York | $1,878 | $96 | 5.4% |
| North Carolina | $1,026 | -$756 | -42.4% |
| North Dakota | $1,462 | -$320 | -18.0% |
| Ohio | $1,232 | -$550 | -30.9% |
| Oklahoma | $1,832 | $50 | 2.8% |
| Oregon | $1,632 | -$150 | -8.4% |
| Pennsylvania | $1,700 | -$82 | -4.6% |
| Rhode Island | $2,378 | $596 | 33.4% |
| South Carolina | $1,616 | -$166 | -9.3% |
| South Dakota | $1,504 | -$278 | -15.6% |
| Tennessee | $1,564 | -$218 | -12.2% |
| Texas | $2,148 | $366 | 20.5% |
| Utah | $1,320 | -$462 | -25.9% |
| Vermont | $1,220 | -$562 | -31.5% |
| Virginia | $1,068 | -$714 | -40.1% |
| Washington | $1,378 | -$404 | -22.7% |
| West Virginia | $1,634 | -$148 | -8.3% |
| Wisconsin | $1,234 | -$548 | -30.8% |
| Wyoming | $1,590 | -$192 | -10.8% |
Choosing higher comprehensive and collision insurance deductibles can save as much as $830 a year, whereas increasing liability limits will increase prices. Going from a 50/100 limit to a 250/500 limit will cost up to $351 extra every 12 months. View Rates by Deductible or Liability Limit
If you have a few violations or tend to cause accidents, you could be paying at least $2,100 to $2,800 extra annually, depending on your age. Insurance for high-risk drivers ranges around 44% to 132% more than the average policy. View High Risk Driver Rates
With such a large range in prices, the only way to know your exact price is to do a rate comparison and see how they stack up. Each auto insurer calculates prices differently, so rate quotes will be substantially different from one company to the next.
Insurance Rates by Trim Level and Model Year
| Model and Trim | Annual Premium | Monthly Premium |
|---|---|---|
| BMW M3 4-Dr Sedan | $1,696 | $141 |
| BMW M3 CI 2-Dr Coupe | $1,826 | $152 |
| BMW M3 2-Dr Convertible | $1,826 | $152 |
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 | $444 | $844 | $372 | $1,818 |
| 2023 BMW M3 | $424 | $810 | $390 | $1,782 |
| 2022 BMW M3 | $406 | $804 | $398 | $1,766 |
| 2021 BMW M3 | $394 | $784 | $416 | $1,752 |
| 2020 BMW M3 | $380 | $752 | $430 | $1,720 |
| 2019 BMW M3 | $358 | $726 | $442 | $1,684 |
| 2018 BMW M3 | $344 | $674 | $452 | $1,628 |
| 2017 BMW M3 | $332 | $634 | $456 | $1,580 |
| 2016 BMW M3 | $318 | $568 | $460 | $1,504 |
| 2015 BMW M3 | $296 | $522 | $460 | $1,436 |
| 2013 BMW M3 | $280 | $458 | $474 | $1,370 |
| 2012 BMW M3 | $258 | $424 | $474 | $1,314 |
| 2011 BMW M3 | $252 | $386 | $478 | $1,274 |
| 2010 BMW M3 | $234 | $354 | $474 | $1,220 |
| 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 Find Cheaper BMW M3 Insurance
Finding better rates on auto insurance takes avoiding accidents and claims, having above-average credit, not filing small claims, and qualifying for all possible discounts. Make time to compare rates every other policy renewal by obtaining price quotes from direct carriers like Progressive, GEICO, and Esurance, and also from local insurance agents.
The points below are a condensed summary of the ideas that were touched on in this article.
- Drivers under the age of 20 are the costliest to insure, as much as $533 per month if full coverage is included
- Drivers with multiple at-fault accidents may be required to pay an average of $2,090 more every year to insure a BMW M3
- Increasing policy deductibles can save around $825 each year
- Drivers can save up to $220 per year simply by quoting online in advance
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,400 |
| 20 | $4,122 |
| 30 | $1,880 |
| 40 | $1,782 |
| 50 | $1,624 |
| 60 | $1,592 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,330 |
| $250 | $2,076 |
| $500 | $1,782 |
| $1,000 | $1,502 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,782 |
| 50/100 | $1,904 |
| 100/300 | $2,002 |
| 250/500 | $2,255 |
| 100 CSL | $1,943 |
| 300 CSL | $2,158 |
| 500 CSL | $2,314 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,196 |
| 20 | $6,562 |
| 30 | $3,976 |
| 40 | $3,868 |
| 50 | $3,686 |
| 60 | $3,656 |
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 | $97 |
| Multi-vehicle | $92 |
| Homeowner | $24 |
| 5-yr Accident Free | $141 |
| 5-yr Claim Free | $117 |
| Paid in Full/EFT | $89 |
| Advance Quote | $93 |
| Online Quote | $130 |
| Total Discounts | $783 |
Discounts are estimated and may not be available from every company or in every state.
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