BMW M3 Insurance Rates [Guide + Free Quotes]

The cost of BMW M3 auto insurance rates are $1,766 a year, or around $147 a month on average. Finding BMW M3 teenager insurance rates can cost on average $6,455 a year, so shop around to find cheap coverage.

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Sara Routhier, Managing Editor of Features and Outreach, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming worl...

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Cynthia Lanctot is an insurance professional with ten years of industry experience. Cynthia is licensed in several states, and holds an associate in claims law, as well as a bachelor’s degree in English. Cynthia’s experience includes the New England and Northeast states. She currently works as a liability claims professional and an occasional online contributor.

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Reviewed by Cynthia Lanctot
Licensed Agent

UPDATED: Feb 22, 2021

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Key takeaways:

  • Full coverage costs around $1,766 a year or $147 each month
  • A liability-only policy costs around $708 a year or $59 each month
  • Highest rates are for teenage drivers at around $6,455 a year or $538 each month
  • Good drivers can save as much as $728 a year by earning policy discounts
  • BMW M3 insurance costs around $247 more per year than the average vehicle

BMW M3 insurance rates can be expensive. BMW M3 insurance costs around $247 more per year than the average vehicle. Read on to learn what drivers can do to save on BMW M3 insurance rates.

You can start comparing quotes for BMW M3 car insurance rates from some of the best car insurance companies by using our free online tool now.

BMW M3 Insurance Cost

The average car insurance costs for a BMW M3 are $1,766 a year or $147 a month.

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Are BMW M3s Expensive to Insure?

The chart below details how BMW M3 insurance rates compare to other luxury cars like the Audi A4, Lexus IS 300, and Audi S8.

Vehicle Comprehensive Collision Liability Total
BMW M3 $406 $804 $398 $1,766
Audi A4 $332 $656 $398 $1,544
Lexus IS 300 $356 $686 $398 $1,598
Audi S8 $658 $1368 $398 $2,582
Mercedes-Benz S450 $494 $982 $398 $2,032
Chevrolet Corvette $494 $922 $264 $1,790
Volvo S60 $332 $656 $398 $1,544
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However, there are a few things you can do to find the cheapest BMW insurance rates online.

What Impacts the Cost of BMW M3 Insurance?

The BMW M3 trim and model you choose can impact the total price you will pay for BMW M3 car insurance coverage.

Age of the Vehicle

Older BMW M3 models generally cost less to insure. For example, car insurance for a 2018 BMW M3 costs $1,766, while 2010 BMW M3 insurance costs are $1,398, a difference of $368.

Model Year Comprehensive Collision Liability Total
2018 BMW M3 $406 $804 $398 $1,766
2017 BMW M3 $394 $784 $416 $1,752
2016 BMW M3 $380 $752 $430 $1,720
2015 BMW M3 $358 $726 $442 $1,684
2013 BMW M3 $332 $634 $456 $1,580
2012 BMW M3 $318 $568 $460 $1,504
2011 BMW M3 $296 $522 $460 $1,436
2010 BMW M3 $286 $490 $464 $1,398
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Driver Age

Driver age can have a significant impact on the cost of BMW M3 auto insurance. For example, 20-year-old drivers pay as much as $2,238 more each year for their BMW M3 auto insurance than 40-year-old drivers.

Driver Location

Where you live can have a large impact on BMW M3 insurance rates. For example, drivers in Los Angeles may pay $654 a year more than drivers in Philadelphia.

Your Driving Record

Your driving record can have an impact on your BMW M3 car insurance rates. Teens and drivers in their 20’s see the highest jump in their BMW M3 car insurance with violations on their driving record.

BMW M3 Safety Ratings

The BMW M3’s safety ratings will affect your BMW M3 car insurance rates. See the chart below:

Test Type Rating
Small overlap front: driver-side N/R
Small overlap front: passenger-side N/R
Moderate overlap front N/R
Side N/R
Roof strength N/R
Head restraints and seats N/R
Source: Insurance Institute for Highway Safety
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BMW M3 Crash Test Ratings

Not only do good BMW M3 crash test ratings mean you are better protected in a crash, but good BMW M3 crash ratings also mean cheaper insurance rates.

Vehicle Tested Overall Frontal Side Rollover
2018 BMW M3 4 DR RWD N/R N/R N/R N/R
2017 BMW M3 4 DR RWD N/R N/R N/R N/R
2016 BMW M3 4 DR RWD N/R N/R N/R N/R
1-5 Star Rating Scale, N/R = No Rating | Source: National Highway Traffic Safety Administration
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BMW M3 Safety Features

Good BMW M3 safety features can result in insurers giving you car insurance discounts. The safety features for the 2020 BMW M3 are:

  • Electronic Stability Control (ESC)
  • ABS And Driveline Traction Control
  • Side Impact Beams
  • Dual Stage Driver And Passenger Seat-Mounted Side Airbags
  • BMW Assist eCall Emergency SOS
  • Tire Specific Low Tire Pressure Warning
  • Dual Stage Driver And Passenger Front Airbags
  • Curtain 1st And 2nd Row Airbags
  • Airbag Occupancy Sensor
  • Driver And Passenger Knee Airbag
  • Rear Child Safety Locks
  • Outboard Front Lap And Shoulder Safety Belts
  • Back-Up Camera

BMW M3 Insurance Loss Probability

The lower percentage means lower BMW M3 car insurance costs; higher percentages mean higher BMW M3 car insurance costs. Compare the following BMW M3 auto insurance loss probability rates for collision, property damage, comprehensive, PIP, MedPay, and bodily injury.

Insurance Coverage Category Loss Rate
Collision 202%
Property Damage no data
Comprehensive 86%
Personal Injury no data
Medical Payment no data
Bodily Injury no data
Source: Insurance Institute for Highway Safety
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BMW M3 Finance and Insurance Cost

If you are financing a BMW M3, most lenders will require your carry higher BMW M3 coverages including comprehensive coverage, so be sure to compare BMW M3 car insurance rates from the best companies using our FREE tool below.

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Ways to Save on BMW M3 Insurance

Although it may seem like your BMW M3 car insurance rates are set, there are a few measures that you can take to secure the best BMW M3 car insurance rates possible. Take a look at the following five ways to save on BMW M3 auto insurance.

  • Consider Renting a Car Instead of Buying a Second BMW M3
  • Purchase a Roadside Assistance Program for Your BMW M3
  • Take Public Transit Instead of Driving Your BMW M3
  • Use an Accurate Job Title When Requesting BMW M3 Auto Insurance
  • Avoid the Temptation to File a Claim for Minor Incidents

Top BMW M3 Insurance Companies

Who is the top auto insurance company for BMW M3 insurance rates? While the actual rates you pay will depend on many factors, here are some of the top companies offering BMW M3 auto insurance coverage (ordered by market share). Many of these companies offer discounts for security systems and other safety features that the BMW M3 offers.

Rank Company Volume Market Share
1 State Farm $65,615,190 9.3%
2 GEICO $46,106,971 6.6%
3 Progressive $39,222,879 5.6%
4 Liberty Mutual $35,600,051 5.1%
5 Allstate $35,025,903 5.0%
6 Travelers $28,016,966 4.0%
7 USAA $23,483,080 3.3%
8 Chubb $23,388,385 3.3%
9 Farmers $20,643,559 2.9%
10 Nationwide $18,442,145 2.6%
Source: Insurance Information Institute
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Compare Free BMW M3 Insurance Quotes Online

Start comparing BMW M3 car insurance quotes for free by using our convenient online comparison tool.

Crash Test Safety Ratings

Year Overall Frontal Crash Side Crash Rollover
2015
0
0
0
0
2014
0
0
0
0
2013
0
0
0
0
2012
0
0
0
0
2011

Crash Avoidence Features

Forward Collision Warning

Not Available

Forward Collision Auto Brake

Not Available

Lane Departure Warning

Not Available

Land Departure Prevention

Not Available

Blind Spot Detection

Not Available

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