BMW M3 Insurance Rates

Estimated insurance prices for a BMW M3 are $1,766 every 12 months including full coverage. Comprehensive insurance costs around $406 a year, collision costs $804, and liability is $398. A liability-only policy costs around $460 a year, with high-risk insurance costing $3,842 or more. Teenage drivers pay the most at $6,388 a year or more.

Average premium for full coverage: $1,766

Premium estimates for type of coverage:

Includes $500 deductibles, split liability limits of 30/60, and includes medical and UM/UIM coverage. Rates include averaging for all 50 U.S. states and M3 trim levels.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Choosing to live in a large city can have significant affects on the price of insurance. Areas with sparse population are statistically proven to have more infrequent comprehensive and collision claims than densely populated cities.

The diagram below illustrates the difference between rural and urban areas on auto insurance rates.

These rate differences highlight why it is important to compare rates quotes for a specific zip code and their own driving history, instead of using average rates.

Use the form below to get customized rates for your location.

More Rate Details

The chart below breaks down estimated BMW M3 insurance rates for additional coverage choices and driver risks.

• The best discount rate is $988
• Raising to $1,000 deductibles will save about $1,494 every year
• The average price for a 40-year-old good driver using $500 deductibles is $1,766
• Using low $100 deductibles costs an extra $538 every year
• At-risk drivers who are prone to accidents and violations could pay at least $3,842 or more
• An auto insurance policy to insure a teen driver can be $6,388

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Auto insurance prices for a BMW M3 also have a wide range based on physical damage deductibles and liability limits, your driving characteristics, and the trim level and model year.

Using high physical damage deductibles can reduce prices by up to $810 every year, while buying higher liability limits will increase prices. Changing from a 50/100 liability limit to a 250/500 limit will cost up to $358 extra every year. View Rates by Deductible or Liability Limit

Older drivers with a good driving record and higher deductibles may pay as little as $1,600 every 12 months on average, or $133 per month, for full coverage. Prices are much higher for drivers in their teens, since even excellent drivers will have to pay as much as $6,300 a year. View Rates by Age

If you have a few violations or you were responsible for an accident, you are likely paying at least $2,100 to $2,800 in extra premium annually, depending on your age. A high-risk auto insurance policy is expensive and can cost as much as 44% to 133% more than a normal 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 $1,360 a year in states like Missouri, New Hampshire, and Vermont, or be forced to pay as much as $2,520 on average in Michigan, New York, and Louisiana.

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With such a large range in prices, the best way to figure out your exact price is to get quotes and see which company has the best price. Every auto insurance company uses a different method to calculate prices, and quoted prices will be substantially different.

Insurance Rates by Trim Level and Model Year

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.

How to Shop for the Cheapest BMW M3 Insurance

Finding better rates on car insurance consists of not taking risks behind the wheel, having a good credit score, refrain from filing small claims, and maximizing policy discounts. Set aside time to compare rates at least once a year by requesting rates from direct car insurance companies, and also from insurance agencies where you live.

The following is a recap of the primary concepts that were covered above.

• You may be able to save up to $220 per year simply by quoting early and online
• Higher risk drivers that have major violations or accidents could be forced to pay on average $2,080 more every year for M3 insurance
• Increasing policy deductibles could save as much as $800 each year
• Teens are expensive to insure, with the cost nearing $532 per month if comprehensive and collision insurance is included