Buy Cheap BMW M3 Auto Insurance in 2024
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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Travis Thompson
Licensed Insurance Agent
Travis Thompson has been a licensed insurance agent for nearly five years. After obtaining his life and health insurance licenses, he began working for Symmetry Financial Group as a State Licensed Field Underwriter. In this position, he learned the coverage options and limits surrounding mortgage protection. He advised clients on the coverage needed to protect them in the event of a death, critica...
Licensed Insurance Agent
UPDATED: Nov 27, 2023
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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.
How much does 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 |
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 |
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.
What are the 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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What are the 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 | ||||
|---|---|---|---|---|
What are the 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
What is the 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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What is the cost of BMW M3 finance and insurance?
If you are financing a BMW M3, most lenders will require you to 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.
What are some 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
What are the 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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