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BMW M3 Insurance Cost [Everything You Need to Know]

The average BMW M3 insurance costs $147 per month, but BMW M3 insurance for an 18-year-old could be more expensive. Your driving record and your BMW's age will also impact the price of your BMW M3 insurance coverage. To save money, start comparing BMW M3 insurance quotes online with our free tool below.

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Eric Stauffer is a former insurance agent and banker turned consumer advocate. His priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best...

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UPDATED: Aug 23, 2020

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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 are about $247 more than the average vehicle, with full coverage costing about $1,766 a year or $147 a month. Older BMW M3’s may just need liability coverage only, which averages $708 a year or $59 a month. Good drivers can save up to $728 a year for staying claim-free. Let’s look at BMW M3 auto insurance rates, insurance loss rates, and more.

You can compare car insurance 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 BMW M3 auto insurance rates are $1,766 a year or $147 a month. BMW M3 insurance for an 18-year-old or a 21-year old will be higher, and rates go down as you get older.

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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 Cadillac CTS-V, Chevrolet Corvette, and Jaguar XF.

Vehicle Comprehensive Collision Liability Total
BMW M3 $406 $804 $398 $1,766
Cadillac CTS-V $406 $804 $338 $1,684
Chevrolet Corvette $494 $922 $264 $1,790
Jaguar XF $406 $804 $398 $1,766
Audi A8 $464 $900 $390 $1,912
Lexus ES 350 $362 $656 $316 $1,470
Audi S7 $532 $1,250 $398 $2,338

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 insurance coverage.

Age of the Vehicle

Older BMW M3 models generally cost less to insure. For example, auto 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

Driver Age

Driver age can have a significant impact on BMW M3 auto insurance rates. For instance, a 30-year-old driver may pay $78 more each year for BMW M3 auto insurance than a 40-year-old driver.

Driver Location

Where you live can have a large impact on BMW M3 insurance rates. For example, drivers in New York may pay $1,077 a year more than drivers in Seattle.

Your Driving Record

Your driving record can have an impact on the cost of BMW M3 auto insurance. 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 Crash Test Ratings

BMW M3 crash test ratings will affect your BMW M3 car 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

BMW M3 Safety Features

The BMW M3 safety features play a vital role in keeping passengers safe in crashes, but they can also help lower your BMW M3 auto insurance rates. The BMW M3’s safety features include:

  • Electronic Stability Control
  • 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 BMW M3’s insurance loss ratio varies between different coverage types. While some types of insurance loss ratios are higher for the BMW M3, others are more favorable and lead to lower insurance rates.

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

BMW M3 Finance and Insurance Cost

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

Enter your zip code below to view companies that have cheap auto insurance rates.

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Ways to Save on BMW M3 Insurance

There are many ways that you can save on BMW M3 car insurance. Below are five actions you can take to find cheap BMW M3 auto insurance rates.

  • Understand the Different Types of Auto Insurance for Your BMW M3
  • Improve Your Credit Score
  • Use an Accurate Job Title When Requesting BMW M3 Auto Insurance
  • Buy a Dashcam for Your BMW M3
  • Consider BMW M3 Insurance Costs Before Buying a BMW M3

Top BMW M3 Insurance Companies

Several insurance companies offer competitive rates for the BMW M3 based on factors like discounts for safety features. Take a look at these top car insurance companies that are popular with BMW M3 drivers organized by market share.

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

Compare Free BMW M3 Insurance Quotes Online

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About Eric Stauffer

Author: Eric StaufferI am a former insurance agent and banker turned consumer advocate. My priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

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