BMW M3 Insurance Rates
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UPDATED: Jun 4, 2023
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The average insurance prices for a BMW M3 are $1,782 every 12 months for full coverage. Comprehensive costs around $424 a year, collision insurance costs $810, and liability insurance costs $390. A liability-only policy costs as little as $452 a year, and high-risk insurance costs around $3,868. Teens cost the most to insure at up to $6,400 a year.
Average premium for full coverage: $1,782
Policy rates for type of insurance:
Estimates include $500 policy deductibles, 30/60 split liability limits, and includes both medical and uninsured motorist insurance. Prices are averaged for all states and M3 trim levels.
Price Range Variability
For a driver around age 40, BMW M3 insurance rates range from the cheapest price of $452 for minimum levels of liability insurance to a high of $3,868 for a high-risk insurance policy.
Urban vs. Rural Price Range
Your location has a significant impact on auto insurance rates. Areas with sparse population are shown to have more infrequent accident claims than cities with more traffic congestion. The diagram below illustrates the difference between rural and urban areas on auto insurance rates.
The examples above show why it is important to compare rates for a specific zip code and their own driving history, rather than relying on 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.
Additional Rate Details
The chart below shows average BMW M3 insurance rates for additional coverage choices and driver risks.
- The cheapest rate after discounts is $999
- Drivers who choose higher $1,000 deductibles will pay about $1,502 a year
- The average price for a good driver age 40 using $500 deductibles is $1,782
- Selecting low $100 deductibles for comprehensive and collision insurance increases the price to $2,330
- High risk drivers with serious driving violations could pay at least $3,868
- Policy cost to insure a teen driver can be $6,400 a year
Car insurance rates for a BMW M3 also range considerably based on liability limits and deductibles, your driver profile, and the trim level and model year.
Choosing higher comprehensive and collision insurance deductibles could save up to $830 each year, while buying higher liability limits will increase rates. Going from a 50/100 liability limit to a 250/500 limit will raise rates by up to $351 extra every 12 months. View Rates by Deductible or Liability Limit
Older drivers with no driving violations and higher deductibles could pay as little as $1,600 per year on average, or $133 per month, for full coverage. Rates are much higher for teenagers, since even excellent drivers will be charged as much as $6,400 a year. View Rates by Age
If you have a few points on your driving record or you were responsible for an accident, you could be paying at least $2,100 to $2,800 extra every year, depending on your age. A high-risk auto insurance policy can cost anywhere from 44% to 132% more than the average policy. View High Risk Driver Rates
Your home state makes a big difference in BMW M3 insurance rates. A 40-year-old driver 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% |
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 Shop for Low Cost BMW M3 Insurance
Finding cheaper rates on BMW M3 insurance not only requires being safe and accident-free, but also maintaining a good credit score, avoid buying unnecessary coverage, and consideration of higher deductibles. Set aside time to compare rates at least every other year by getting quotes from direct carriers, and also from local exclusive and independent agents.
Below you'll find a review of the car insurance concepts covered above.
- High-risk drivers who have several accidents or serious violations may pay on average $2,090 more every year than a low-risk driver
- Drivers can save up to $220 per year just by quoting early and online
- Increasing comprehensive and collision deductibles could save as much as $825 each year
- Drivers who may need more liability protection will pay approximately $430 each year to go from a 30/60 limit to a 250/500 level
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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