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Cheapest Bmw M3 Car Insurance (Jul 2024)

Compare 50+ top insurance companies including Progressive, Travelers, AAA, Nationwide (and more!) to find the best and cheapest car insurance for your Bmw M3
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Kianna Walpole
Expert Insurance Writer & Editor
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Reviewed by Josh Damico, Vice President Insurance Operations
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Edited by Amy Bobinger, Licensed Insurance Agent — Expert Insurance Editor

How much does Bmw M3 car insurance cost? 

On average, Bmw M3 drivers spend $150 each month on state minimum car insurance and $150 per month for full coverage. Compared to other popular cars like the Smart Fortwo, Cadillac STS, and Lincoln MKZ, the Bmw M3 is 16% less expensive to insure. 
However, there is no real ‘average’ cost of car insurance as your price depends on your driver profile. Many factors play a role in determining your Bmw M3 insurance costs, from the trim level you own to your car’s age. The only way to understand how much your car insurance will cost is to compare car insurance quotes

Compare the cheapest Bmw M3 car insurance quotes

This may feel complicated, but it doesn’t have to be.
Jerry
is a
car insurance price comparison
tool that helps you to easily compare quotes, saving you time and money. Jerry has helped Bmw M3 drivers save an average of $2,839 per year on their car insurance. 
However, insurance costs can vary greatly even for the same model. In addition to your driving record, ZIP code, and insurance history, insurance companies will consider your car’s model year and trim level when generating a quote.
To find out the rate for your Bmw M3, you’ll need to
get car insurance quotes
from at least three insurance companies.

The best car insurance companies for Bmw M3 owners

There’s no single best insurance company for all Bmw M3 owners—car insurance rates are highly personalized, and every insurance company uses a slightly different algorithm to
calculate your premiums
But that doesn’t mean we can’t find the best insurance company for you
Jerry conducted the largest survey in the nation to help people compare car insurance companies. Check out how drivers rate different insurance companies below.
Insurance CompanyOverall RatingPriceClaims ExperienceCustomer Service
Safeco
4.6
4.4
4
4.5
Travelers
4.5
4.2
4.4
4.5
Progressive
4.3
3.9
3.9
4.3
AAA
4.2
4
3.8
4.4
Allstate
4.2
3.6
3.8
4.2
USAA
4
3.5
4.5
4.2
State Farm
4
3.4
3.8
4.2
Farmers
4
3.4
4.1
3.9
Geico
3.9
3.3
3.9
4
Liberty Mutual
3.7
3.2
3.5
3.7
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How'd we get these scores?

Jerry's experts conducted one of the largest car insurance surveys in the United States. We surveyed 15,000 policyholders, in all 50 states, over the span of 18 months. These policyholders hold insurance policies with 87 different insurance companies. We surveyed policyholders to gauge their satisfaction with their insurance carriers in: policy cost, customer service, buying and renewal experience, as well as claim experience. These scores were all reported by real customers of the insurance companies.

How much car insurance do you need for a Bmw M3?

The average cost of Bmw M3 insurance is $150 per month for full coverage and $150 for state minimum coverage– but individual quotes can vary greatly depending on a variety of factors including model year, trim level, driving history coverage levels, and more. 
CarAverage Full Coverage Insurance CostAverage State Minimum Insurance Cost
Bmw M3
$205
$91
  • Minimum coverage insurance
    is the minimum amount of coverage legally required in your state, which typically includes at least bodily injury and property damage liability insurance. 
  • Full coverage insurance
    provides financial protection for damage to yourself, your vehicle, and other vehicles and passengers involved in an accident.
While knowing auto insurance averages can be useful, getting personalized quotes is
the best way to shop for insurance
. Jerry makes quote shopping easy, finding you the best coverage at the best rate.

Why are some trims more expensive to insure than others?

Repair and replacement costs tend to be higher for premium trim levels, making them a higher risk to insurance companies. 
Check out the table below to see the average cost of auto insurance for some popular Bmw M3 trims.
CarMonthly minimum coverage costMonthly full coverage cost
M3 BMW
$91
$207
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Bmw M3 insurance cost by model year

The more recently your Bmw M3 was manufactured, the more it’ll cost to insure. New models are worth more and often have higher repair costs thanks to cutting-edge technology. Check out some real quotes for Bmw M3s provided by Jerry to better understand how your driver profile might affect your cost.
It's important to remember that car insurance rates are as unique as the drivers themselves. The best way to understand how much you might pay is to compare real quotes like the ones below from different insurance companies. Check out some real quotes Jerry compared for Bmw M3 drivers below.

2022 Bmw M3 car insurance rates

Model
Minimum liability
Full coverage
2022 BMW M3 
$230
$448
2022 BMW M3 Competition
$172
$188

2021 Bmw M3 car insurance rates

Model
Minimum liability
Full coverage
2021 BMW M3 
$93
$223

2015–2017 Bmw M3 car insurance rates

Model
Minimum liability
Full coverage
2017 BMW M3 
$111
$424
2016 BMW M3
$86
$350
2015 BMW M3
$25
$176

Are Bmw M3s expensive to insure? 

The average Bmw M3 insurance rate is $150 per month. Compared to the national average for other models from a similar price range, it is 16% less expensive to insure a Bmw M3.
CarMonthly minimum coverage costMonthly full coverage cost
BMW M3
$91
$205
Tesla Model S
$79
$228
Lincoln MKZ
$95
$207
Audi Q5
$90
$181
Jaguar X-Type
$117
$204
Why are similar cars more or less expensive to insure? When calculating the cost of your insurance, insurance companies take many factors into consideration. MSRP, trim level, model year, and the cost of repairs are some of the many factors that can influence how much your insurance costs.

Bmw M3 safety features 

The safety features of a model will also impact your insurance costs. 
A vehicle with more advanced safety features poses a lower risk to insurance companies. As a result, insurance costs will be lower for vehicles with more (and better) safety features. 
The Bmw M3 has a variety of safety features. Learn more about them below.
Safety featureDescription
Overhead airbags
Overhead airbags are used to protect the occupant's heads in the event of a side collision or rollover.
Anti-lock brakes
ABS brakes automatically sense when a tire has stopped rotating under extreme braking, and will modulate the brake pressure to allow the tire to rotate.This increases the vehicles ability to turn while braking.
Knee airbags
Knee airbags help to protect the occupants lower extremities from serious injury in the event of an accident.
Security system
The vehicle is equipped with a means of anticipating and/or detecting unwanted vehicle intrusion. The vehicle is equipped with an ignition disable device that will prevent the engine from starting if the correct original manufacturer key is not used.
Side impact airbags
Side impact airbags for the front seats have been designed to protect the torso during a side impact collision.
Front-impact airbags
Front-impact airbags for the driver and passenger have been designed to protect the head during a frontal crash.
Pretensioners
Seatbelt pretensioners automatically tighten seatbelts to place the occupant in the optimal seating position during a collision.
Stability control
Stability control automatically senses when the vehicles handling limits have been exceeded and reduces engine power and/or applies select brakes to help prevent the driver from losing control of the vehicle.

What other factors affect Bmw M3 insurance rates?

Many factors influence your
car insurance rate
, such as:
  • The kind of car you have: Collision and comprehensive coverage are more costly for luxury, high-performance, and sports cars.
  • Your age: Driver age affects insurance rates too. Drivers under 25 years of age will pay higher insurance rates. Insurance companies consider young drivers to be high risks due to their limited driving experience.
  • Your driving record and claims history: Insurance companies will charge more if you have a history of accidents or tickets.

Bmw M3 insurance cost for young drivers

Teen drivers
between the ages of 16 and 19 face the highest insurance costs out of any age group. For teen car owners driving a newer car, full coverage insurance offers better financial protection, since teenagers are more likely to get into accidents.
Here’s what teen and young adult drivers pay on average a month to insure a Bmw M3:
Ages
Minimum liability
Full coverage
18-21
$323
$891
22-25
$141
$471

Bmw M3 insurance cost for senior drivers

As you enter your mid-70s, car insurance costs begin to climb again.
Car insurance rates for seniors
tend to be higher for several reasons. 
Older drivers are more likely to be involved in accidents, and are also more vulnerable to severe injuries in the event of a collision, leading to significant medical expenses and other increased costs for insurance providers.
Here’s an average of what drivers age 55 and up pay to insure a Bmw M3: 
Ages
Minimum liability
Full coverage
55–64
$62
$183
65 +
$119
$334

Bmw M3 insurance cost for drivers with driving violations 

Your driving record impacts your auto insurance quotes. Those with a clean driving record are rewarded with lower insurance premiums.  
If insurance companies notice a history of violations, they’ll see you as a higher risk and charge you a steeper rate. Some common violations that could increase your insurance rates include:
  • Speeding
  • DUIs
  • At fault accident
  • Reckless driving
  • Driving on a suspended license

Cheapest car insurance for Bmw M3 drivers with speeding ticket

There are varying degrees of speeding. For example, speeding 1-5 MPH over the limit, 6-10 MPH over the limit generally won’t raise your rates as much as speeding over 21 MPH over the limit. 
Check out the table below to see just how much a speeding ticket can impact your monthly car insurance payments on a Bmw M3:
Violation
Average monthly cost of insurance
Speeding violation - minor
$223

Cheapest car insurance for Bmw M3 drivers with a DUI record

If you have a DUI offense on your record, car insurance rates can vary significantly from one insurance company to another. 
Did you know that a
DUI
can cause your rates to skyrocket by 80%? As a result, you may need to compare rates from many insurance companies to find low-cost options after a DUI. 

Cheapest car insurance for Bmw M3 drivers after an accident

One of the most important factors affecting car insurance rates is your car accident or claim history. 
If you were involved in an at-fault accident in the recent past, your car insurance rates could skyrocket. To keep costs low, practice safe driving habits and consider enrolling in a telematics program to earn rewards and discounts.

Cheapest car insurance for Bmw M3 drivers with other driving violations on their record

Other driving violations have the power to impact the cost of your insurance, too. In addition to speeding tickets and DUIs, other violations such as reckless driving and driving on a suspended license can also cause your car insurance costs to increase. 
We’ve compiled a list of various other driving violations and how we helped Bmw M3 drivers with these violations save on their car insurance.
Violation
Average monthly cost of insurance
Driving on suspended license
$120
Improper passing
$263

How can I lower the cost of insurance for my car?

There are a variety of ways to lower insurance costs for your vehicle. 
  • Shop around: Shopping around for insurance coverage by comparing quotes from different insurance providers allows you to find the best coverage at the best price. Jerry makes this process easy by gathering quotes from over 55 top insurance companies in minutes, so you can compare prices. If you find a better deal, Jerry can even help you buy your new policy and cancel your old one.
  • Raise your deductible: Your
    car insurance deductible
    is the amount of money you pay out of pocket before your collision or comprehensive coverage kicks in. Raising your deductible reduces monthly insurance payments—but avoid raising it higher than you can afford to pay.
  • Reduce your coverage: If you have any older cars, you can
    reduce coverage
    on them to lower your bill. This is a good idea if your car is worth less than 10 times the premium you’re paying.
  • Research discounts: All insurance companies offer discounts, but they’re not always advertised, and your eligibility may vary from provider to provider. Check with your current insurer to see what discounts you might be missing out on. 
  • Bundle your insurance policies:
    Bundling your homeowners and auto insurance
    with the same company can amount to a lower overall bill. 

Methodology

The Insurance Research Team analyzes insurance products and services to drive insights and help consumers make informed purchase decisions. 
Insurance research: We analyzed over 25 million car insurance quotes; conducted the largest insurance shopping survey (over 15,000 customers surveyed and 85 carriers reviewed in the past 18 months). 
We surveyed insurance policyholders for their experience with their insurers in the following areas: (1) insurance cost (2) customer service (3) insurance buying experience (4) insurance renewal experience (5) claim experience. In addition, we asked people what they like about their insurers and what areas in which their insurers could improve. The driver characteristics used in calculating average rates for auto insurance include: single driver, single car, currently insured, clean driving record.  
For the quotes and sold policies included in this article, please note that personal information has been hidden. Not all customers find savings. 
Team: The team consists of licensed insurance agents, insurance industry veterans, and data scientists.

Meet our experts

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Kianna Walpole
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Expert Insurance Writer & Editor
Kianna Walpole is an insurance writer and editor with a comprehensive background in consumer behavior and online publishing. With experience in car insurance, maintenance, and repair, she is dedicated to building informative content that helps customers reduce costs while achieving the best service. Prior to joining the Jerry editorial team, Kianna worked as a junior editor in the content marketing industry, using consumer data and key insights to create and edit content for an array of large-scale clients in the real estate, cybersecurity, and healthcare industries.
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Amy Bobinger
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Licensed Insurance Agent — Expert Insurance Editor
Expert insurance writer and editor Amy Bobinger specializes in car repair, car maintenance, and car insurance. Amy is passionate about creating content that helps consumers navigate challenges related to car ownership and achieve financial success in areas relating to cars.
Amy has over 10 years of writing and editing experience. After several years as a freelance writer, Amy spent four years as an editing fellow at WikiHow, where she co-authored over 600 articles on topics including car maintenance and home ownership. Since joining Jerry’s editorial team in 2022, Amy has edited over 2,500 articles on car insurance, state driving laws, and car repair and maintenance.
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Josh Damico
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Head Of Insurance Operations
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18+ Years Experience in Insurance
Josh Damico is Jerry’s vice president of insurance operations and a licensed insurance professional with nearly two decades of experience in the industry. Previously, Josh held executive roles at Geico, where he had vast regional oversight and leadership opportunities.  He holds a bachelor’s degree in business administration and management from Medaille College, and has appeared on news channels including FOX and CBS to offer insurance expertise and tips to drivers across the country. His work has appeared in Business Insider, Kelley Blue Book, and Digital Insurance and been quoted in The Balance, GOBankingRates, and Inspiring Workplaces.
*Illustration only. For all the pricing information presented in this article (including various tables), please note that not all customers find savings and the information is for illustrative purposes only. Savings depend on type of car, location, policy features, driving history and other factors. Drivers who switch through Jerry save over $70/month on average.