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 costs an estimated $424, collision costs $810, and liability costs $390. Liability-only insurance costs as little as $452 a year, with high-risk driver insurance costing around $3,868. 16-year-old drivers pay the most at $6,400 a year or more.
Average premium for full coverage: $1,782
Premium estimates broken down by type of coverage:
Prices include $500 physical damage deductibles, liability coverage up to 30/60, and includes both medical and uninsured motorist insurance. Rates include averaging for all states and for all M3 models.
Insurance Price Range by Risk and Coverage
For the average driver, insurance rates for a BMW M3 go from the low end price of $452 for minimum levels of liability insurance to the much higher price of $3,868 for a high-risk driver policy.
Insurance Price Range by Location
Your location can make a big difference on insurance rates. More rural locations are statistically proven to have lower incidents of accident claims than congested cities.
The example below illustrates how location impacts insurance prices.
These rate differences show why everyone should compare rates for a targeted area, instead of making a decision based on 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 Rate Details
The chart below shows estimated BMW M3 insurance rates for other coverage scenarios.
- The best full coverage rate is $999
- Drivers who choose higher $1,000 deductibles will pay approximately $280 a year
- The estimated price for a 40-year-old good driver who has $500 deductibles is $1,782
- Buying pricier low deductibles for comprehensive and collision insurance bumps up the cost to $2,330
- Drivers with multiple tickets or accidents could pay up to $3,868 or more
- An auto insurance policy that insures a 16-year-old driver for full coverage can cost as much as $6,400 a year
Insurance prices for a BMW M3 also have a wide range based on the model of your M3, how you drive, and liability limits and deductibles.
If you have a few violations or you caused an accident, you could be paying $2,100 to $2,800 additional annually, depending on your age. BMW M3 insurance for high-risk drivers can cost from 44% to 132% more than the average rate. View High Risk Driver Rates
A more mature driver with no violations or accidents and higher comprehensive and collision deductibles may pay as low as $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 should be prepared to pay at least $6,400 a year. View Rates by Age
Where you choose to live makes a big difference in BMW M3 insurance prices. A 40-year-old driver could pay as low as $1,180 a year in states like Iowa, Maine, and Idaho, or at least $2,540 on average in New York, Louisiana, and Michigan.
| 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% |
Opting for high physical damage deductibles could save up to $830 annually, whereas buying more liability protection will increase premiums. Going from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $351 more each year. View Rates by Deductible or Liability Limit
With such a large range in prices, the only way to know which insurance company is cheapest is to regularly compare prices from multiple companies. Every company utilizes a different rate formula, and prices will be substantially different.
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 the Right BMW M3 Insurance
Finding better rates on insurance for a BMW M3 not only requires being a safe and courteous driver, but also having a good credit score, not filing small claims, and maximizing policy discounts. Comparison shop every time your policy renews by requesting quotes from direct carriers, and also from your local independent and exclusive agents.
Below is a quick rundown of the information touched on above.
- Drivers can save approximately $220 per year simply by quoting online well ahead of the renewal date
- Teenage drivers are expensive to insure, as much as $533 per month if comprehensive and collision insurance is included
- Increasing policy deductibles can save approximately $825 each year
- Drivers considered higher risk with reckless driving or DUI convictions may pay on average $2,090 more annually for auto insurance
- Insureds who want higher levels of liability will pay around $430 each year to go from 30/60 bodily injury limits to the 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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