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

BMW M3 insurance costs $147 per month, but BMW M3 auto insurance for an 18-year-old can cost around $538 per month. Start comparing BMW M3 insurance quotes now to find the most affordable coverage for your age, location, and driving record. You can also take advantage of the BMW M3 safety features to save even more money on your BMW M3 insurance rates.

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Rachel Bodine graduated from college with a BA in English. She has since worked as a Feature Writer in the insurance industry and gained a deep knowledge of state and countrywide insurance laws and rates. Her research and writing focus on helping readers understand their insurance coverage and how to find savings. Her expert advice on insurance has been featured on sites like PhotoEnforced, All...

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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 insurance...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Oct 30, 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 per year than the average vehicle with full coverage costing around $1,766 a year or $147 a month. Good drivers save up to $728 a year in policy discounts. Let’s take a closer look at BMW M3 insurance rates, insurance losses, and more.

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 BMW M3 car insurance costs 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 Volvo S90, Jaguar XE, and Mercedes-Benz S450.

Vehicle Comprehensive Collision Liability Total
BMW M3 $406 $804 $398 $1,766
Volvo S90 $356 $714 $398 $1,626
Jaguar XE $382 $774 $398 $1,712
Mercedes-Benz S450 $494 $982 $398 $2,032
Audi A7 $406 $834 $398 $1,796
Porsche Panamera $520 $1,042 $398 $2,118
Audi A6 $382 $744 $398 $1,682
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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

The average BMW M3 car insurance rates are higher for newer models. For example, car insurance rates for a 2018 BMW M3 are $1,766, while 2010 BMW M3 rates 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 New York may pay $1,077 a year more than drivers in Seattle.

Your Driving Record

Your driving record can have an impact on your BMW M3 auto 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 Crash Test Ratings

Poor BMW M3 crash test ratings could mean higher 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
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BMW M3 Safety Features

The more safety features you have on your BMW M3, the more likely it is that you can earn a discount. 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
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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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Ways to Save on BMW M3 Insurance

You can save more money on your BMW M3 auto insurance rates by employing any of the following five strategies.

  • Buy An Older BMW M3
  • Ask About BMW M3 Low Mileage Discounts
  • Choose a BMW M3 with Cheaper Repair Costs
  • Save Money on Young Driver BMW M3 Insurance By Mentioning Grades or GPA
  • Take a Refresher Course as an Older Driver

Top BMW M3 Insurance Companies

Who is the best 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 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

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.

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