Are BMW M3s Expensive to Insure? [List of Money Saving Tips]

BMW M3 insurance rates cost $1,766 a year, or around $147 a month. Shop around to find cheap BMW M3 insurance rates. On average, BMW M3 comprehensive insurance coverage costs $430, collision coverage costs $628, and liability coverage costs $498.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years (BBB A+). He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. He reviews content, ensuring that ex...

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Feb 17, 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 cost $247 more than the average vehicle, but you can save up to $728 per year on policy discounts. Continue reading to learn more about how to save on BMW M3 insurance rates.

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

BMW M3 Insurance Cost

The average auto 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 A7, Chevrolet Corvette, and Audi A6.

Vehicle Comprehensive Collision Liability Total
BMW M3 $406 $804 $398 $1,766
Audi A7 $406 $834 $398 $1,796
Chevrolet Corvette $494 $922 $264 $1,790
Audi A6 $382 $744 $398 $1,682
Audi A4 $332 $656 $398 $1,544
Audi S8 $658 $1368 $398 $2,582
Lexus IS 300 $356 $686 $398 $1,598
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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 insurance coverage.

Age of the Vehicle

The average BMW M3 auto insurance rates are higher for newer models. 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
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Driver Age

Driver age can have a significant effect on BMW M3 auto insurance rates. For example, 30-year-old drivers pay $78 more for 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 $1,519 a year more than drivers in Indianapolis.

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 have the highest jump in their BMW M3 auto insurance with violations on their driving record.

BMW M3 Safety Ratings

Your BMW M3 auto insurance rates are tied to the BMW M3’s safety ratings. See the breakdown below:

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

BMW M3 crash test ratings can impact your BMW M3 auto insurance rates. See BMW M3 crash test results below:

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

The numerous safety features of the BMW M3 help contribute to lower insurance rates. The 2020 BMW M3 has the following safety features:

  • 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 -inc: Rear Center 3 Point and Pretensioners
  • Back-Up Camera

BMW M3 Insurance Loss Probability

Another contributing factor that plays a direct role in BMW M3 insurance rates is the loss probability for each type of coverage.

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 coverage options including comprehensive coverage, so be sure to shop around and compare BMW M3 auto insurance quotes from the best auto insurance companies using our FREE tool below.

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5 Ways to Save on BMW M3 Insurance

There are many ways that you can save on BMW M3 auto insurance to get the best value possible. Below are five scenarios you can explore to help keep your BMW M3 auto insurance rates low.

  • Audit Your BMW M3 Driving When You Move to a New Location or Start a New Job
  • Choose Automatic Payments or EFT for Your BMW M3 Auto Insurance Policy
  • Save Money on Young Driver BMW M3 Insurance Rates By Mentioning Grades or GPA
  • Re-Check BMW M3 Insurance Rates Every 6 Months
  • Make Sure You Use an Accredited Driver Safety Program

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 auto insurance quotes for free by using our convenient online comparison tool.

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