BMW M3 Insurance Rates
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UPDATED: May 28, 2023
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Estimated auto insurance rates for a BMW M3 are $1,782 annually including full coverage. Comprehensive insurance costs on average $424 each year, collision insurance costs $810, and liability costs around $390. Liability-only insurance costs as low as $452 a year, and high-risk driver insurance costs $3,868 or more. 16-year-old drivers pay the most at up to $6,400 a year.
Average premium for full coverage: $1,782
Premium estimates by type of coverage:
Rate estimates include $500 deductibles, liability coverage up to 30/60, and includes medical/PIP and uninsured motorist coverage. Rates include averaging for all 50 U.S. states and M3 models.
Insurance Price Range by Risk and Coverage
For a driver in their 40's, insurance rates for a BMW M3 range from as cheap as $452 for liability-only coverage to a high rate of $3,868 for a high-risk driver policy.
Insurance Price Range by Location
Where you live can have significant affects on car insurance rates. Rural areas are statistically proven to have fewer comprehensive and collision claims than congested cities. The graphic below illustrates how location helps determine car insurance rates.
These rate differences highlight why all drivers should compare prices based on a specific location and their own personal driving habits, instead of using rate 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 Charts and Tables
The chart below breaks down average BMW M3 insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $999
- Using higher $1,000 deductibles will save around $280 every year
- The estimated rate for a 40-year-old good driver with $500 deductibles is $1,782
- Buying low deductibles for physical damage coverage costs an additional $548 every year
- Drivers with multiple tickets or accidents could pay upwards of $3,868
- An auto insurance policy with full coverage for a teen driver may cost $6,400 or more
Insurance prices for a BMW M3 also have a wide range based on the model of your M3, your driving characteristics, and policy deductibles and limits.
More mature drivers with no violations or accidents and high physical damage deductibles may pay as little as $1,600 a year, or $133 per month, for full coverage. Prices are highest for drivers in their teens, where even without any violations or accidents they should be prepared to pay upwards of $6,400 a year. View Rates by Age
If you have a few violations or you caused a few accidents, you are likely paying at a minimum $2,100 to $2,800 additional annually, depending on your age. Insurance for high-risk drivers can be as much as 44% to 132% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles could cut prices by as much as $830 every year, whereas increasing liability limits will cost you more. Changing from a 50/100 bodily injury limit to a 250/500 limit will cost up to $351 more each year. View Rates by Deductible or Liability Limit
Where you choose to live has a huge impact on BMW M3 insurance prices. A driver around age 40 might see prices as low as $1,370 a year in states like Missouri, New Hampshire, and Vermont, or at least $2,540 on average in Michigan, New York, and Louisiana.
| 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% |
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 Buy the Best BMW M3 Insurance
Finding better rates on car insurance requires not taking risks behind the wheel, having good credit, refrain from filing small claims, and dropping full coverage on older vehicles. Invest time comparing rates every time your policy renews by quoting rates from direct car insurance companies, and also from several local insurance agents.
The following is a brief recap of the information covered in the charts and tables above.
- You may be able to save as much as $220 per year just by quoting online in advance
- Teens pay higher prices, with the cost nearing $533 per month if they have full coverage
- Increasing policy deductibles could save up to $825 each year
- Higher risk drivers who tend to receive serious violations pay on average $2,090 more each year for M3 insurance
- Policyholders who require higher liability limits will pay around $430 per year to increase from 30/60 bodily injury limits to higher 250/500 limits
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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