BMW M3 Insurance Rates
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UPDATED: Jun 4, 2023
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Estimated insurance rates for a BMW M3 are $1,766 a year for full coverage insurance. Comprehensive costs approximately $406, collision insurance costs $804, and liability coverage costs $398. A liability-only policy costs as little as $460 a year, and high-risk insurance costs around $3,842. Teen drivers pay the most at up to $6,388 a year.
Average premium for full coverage: $1,766
Premium estimates by type of coverage:
These estimates include $500 comprehensive and collision deductibles, bodily injury liability limits of 30/60, and includes both medical and uninsured motorist insurance. Rates include averaging for all 50 states and for all M3 models.
Insurance Price Range by Risk and Coverage
For the average driver, insurance rates for a BMW M3 range from the low end price of $460 for minimum levels of liability insurance to the much higher price of $3,842 for a driver who has had serious violations or accidents.
Insurance Price Range by Location
Your location has a large influence on the price of auto insurance. Rural locations are statistically proven to have lower incidents of physical damage claims than larger metro areas. The example below illustrates how location impacts auto insurance prices.
These rate differences illustrate why everyone should compare rates using their specific location, rather than using 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 Details
The chart below illustrates average BMW M3 insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $988
- Drivers who choose higher $1,000 deductibles will pay $272 each year
- The estimated price for a 40-year-old good driver who chooses $500 deductibles is $1,766
- Choosing pricier low deductibles for comprehensive and collision insurance bumps up the cost to $2,304
- High-risk insureds with multiple violations and an at-fault accident could pay around $3,842
- An auto insurance policy that insures a teenage driver for full coverage can cost $6,388 a year
Auto insurance prices for a BMW M3 also have a wide range based on the model of your M3, your age and driving record, and physical damage deductibles and liability limits.
If you have a few violations or you caused an accident, you are probably paying anywhere from $2,100 to $2,800 in extra premium annually, depending on your age. BMW M3 insurance for high-risk drivers can cost around 44% to 133% more than average. View High Risk Driver Rates
A more mature driver with a good driving record and higher comprehensive and collision deductibles may only pay around $1,600 per year on average, or $133 per month, for full coverage. Prices are highest for drivers in their teens, since even teens with perfect driving records will have to pay in the ballpark of $6,300 a year. View Rates by Age
Where you choose to live makes a big difference in BMW M3 insurance rates. A 40-year-old driver could pay as low as $1,160 a year in states like North Carolina, Wisconsin, and Vermont, or as much as $2,390 on average in Florida, New York, and Michigan.
| 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 could save up to $810 a year, whereas buying more liability protection will push prices upward. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $358 extra every year. 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 Cheap BMW M3 Insurance
Finding better rates on auto insurance not only requires having a decent driving record, but also maintaining a good credit score, paying for small claims out-of-pocket, and possibly higher deductibles. Shop around every other policy renewal by getting rate quotes from direct insurance companies, and also from your local car insurance providers.
The following items are a brief summary of the ideas that were touched on above.
- 16 to 18-year-old drivers have the highest car insurance prices, with premiums being up to $532 per month if the policy includes full coverage
- Drivers that tend to have accidents or serious violations could be charged and average of $2,080 more per year than a driver with a clean driving record
- Increasing policy deductibles can save approximately $800 each year
- It is possible to save around $220 per year just by quoting online well ahead of the renewal date
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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