BMW M3 Car Insurance Rates for 2023

How much does car insurance for a BMW M3 cost? We break down average insurance rates for the M3 to discover how average prices rank against the entire sports car segment.

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  • Average BMW M3 insurance cost is $2,278 per year, or $190 per month for full coverage.
  • When compared to other sports cars, the BMW M3 is one of the more expensive sports cars to insure, costing $198 more per year on average.

How much does BMW M3 insurance cost?

BMW M3 car insurance averages around $2,278 yearly, or $190 monthly. Overall, expect to pay about $198 more per year to insure a BMW M3 when compared to the average rate for all sports cars, and $593 more per year than the all-vehicle national average of $1,685.

The chart below shows how BMW M3 auto insurance rates can differ depending on driver age and comprehensive and collision deductibles. The prices shown are for an annual policy, and vary from the cheapest rate of $1,716 per year for a driver age 60 with a $1,000 policy deductible to the highest cost estimate of $5,324 per year for a 20-year-old driver with low policy deductibles.

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Chart Data Details: Chart shows average insurance cost for a 2018 BMW M3 with safe driver and claim-free discounts applied. Rates are for full-coverage insurance and averaged for all U.S. states and all BMW M3 trim levels.Data last updated on December 30, 2022
BMW M3 Car Insurance Rates
BMW M3 Insurance Cost by Driver Age and Deductibles
Driver Age Deductible Annual Cost Monthly Cost
20$1,000$3,842$320
$500$4,564$380
$250$5,324$444
30$1,000$2,008$167
$500$2,406$201
$250$2,822$235
40$1,000$1,912$159
$500$2,278$190
$250$2,658$222
50$1,000$1,748$146
$500$2,076$173
$250$2,420$202
60$1,000$1,716$143
$500$2,038$170
$250$2,378$198

The rate table below breaks down average insurance rates for a BMW M3 for the 2013 to 2018 model years and for different driver ages.

BMW M3 Insurance Cost by Model Year
Model Year and Vehicle Driver Age 20 Driver Age 40 Driver Age 60
2023 BMW M3$4,422$2,224$1,984
2022 BMW M3$4,240$2,138$1,906
2018 BMW M3$4,564$2,278$2,038
2017 BMW M3$4,216$2,110$1,888
2016 BMW M3$4,110$2,056$1,840
2015 BMW M3$3,568$1,796$1,604
2013 BMW M3$3,020$1,520$1,360

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Table Data Details: Average rates for each driver age group are for a 12-month period and assume a clean driving record and no at-fault accidents. Full coverage physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on December 30, 2022
BMW M3 Insurance Cost by Model Year

More rate data and insights

Additional car insurance rates and policy discounts as they relate to insurance cost on a BMW M3 include:

  • The higher deductible you choose, the lower the policy cost. Raising your physical damage coverage deductibles from $500 to $1,000 could save around $366 per year for a 40-year-old driver and $722 per year for a 20-year-old driver.
  • Low deductibles makes insurance more expensive. Decreasing your deductibles from $500 to $250 could cost an additional $380 per year for a 40-year-old driver and $760 per year for a 20-year-old driver.
  • Tickets and violations can cost a lot. If you want the cheapest BMW M3 car insurance, it’s necessary to obey traffic laws. Just a couple of traffic violations have the consequences of raising insurance cost by as much as $606 per year.
  • Fewer accidents saves money. Having a few at-fault accidents can really raise rates, potentially as much as $3,228 per year for a 20-year-old driver and as much as $742 per year for a 50-year-old driver.
  • Prepare for sticker shock for high risk insurance. For a 30-year-old driver, the need to buy a high-risk policy can cause a rate increase of $2,810 or more per year.
  • Getting older pays dividends in cheaper insurance. The difference in 2018 BMW M3 insurance cost between a 60-year-old driver ($2,038 per year) and a 30-year-old driver ($2,406 per year) is $368, or a savings of 15.3%.
  • Young males pay a lot more for insurance. For a 2018 BMW M3, a 20-year-old man pays an average rate of $4,564 per year, while a 20-year-old female driver will pay $3,364, a difference of $1,200 per year. The females get the cheaper rate by far. But by age 50, the rate for men is $2,076 and the rate for females is $2,032, a difference of only $44.

How do BMW M3 car insurance rates rank?

The BMW M3 ranks 16th out of 21 total vehicles in the sports car segment for most affordable car insurance prices. The M3 costs an average of $2,278 per year for insurance and the class median rate is $2,080 per year, a difference of $198 per year.

When compared side-by-side to other vehicles in the sports car segment, auto insurance rates for a BMW M3 cost $616 more than the Subaru WRX, $442 more than the Ford Mustang, $228 more than the Dodge Challenger, and $362 more than the Chevrolet Corvette.

The next chart shows how well BMW M3 insurance rates fare against the best-selling sports cars. A table is also added following the chart that illustrates insurance rate comparisons for all 21 models in the sports car category.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Average rates are for a 2018 model year BMW M3, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium, which is averaged for all BMW M3 trim levels. Physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on December 30, 2022
BMW M3 vs Top 10 Sports Cars Insurance Rate Comparison
BMW M3 Insurance Cost Compared to All Sports Cars
Rank Make/Model Insurance Cost Difference
1Mazda MX-5 Miata$1,194-$1,084
2Audi TT$1,632-$646
3Subaru WRX$1,662-$616
4Nissan 370Z$1,704-$574
5Subaru BRZ$1,722-$556
6BMW M2$1,762-$516
7Ford Mustang$1,836-$442
8Lexus RC F$1,898-$380
9Chevrolet Corvette$1,916-$362
10Chevrolet Camaro$1,916-$362
11Dodge Challenger$2,050-$228
12Alfa Romeo 4C$2,084-$194
13BMW M4$2,164-$114
14Lexus LC 500$2,202-$76
15Jaguar F-Type$2,202-$76
16BMW M3$2,278--
17Porsche 911$2,328$50
18Acura NSX$2,620$342
19Nissan GT-R$2,706$428
20Maserati Granturismo$2,874$596
21Audi R8$2,922$644