The BMW M3 insurance cost fluctuates with the trim level model year and market value. The sport sedan is a spinoff of the BMW 3 series, tagged as its high-performance edition. It was launched as early as 1986 and offered as a coupe, now available only as a sedan. Being one of the sought-after sports sedan models, the car is classified as high-risk. Hence, when compared to other sedans, the BMW M3 insurance rates are higher.
The price of the car, its safety features, and several driving and non-driving factors are all considered when determining BMW M3 insurance costs. Here, we look at which insurance company offers the cheapest BMW M3 car insurance quotes and analyze if this high-end vehicle is eligible for insurance discounts. Let’s go through various factors that impact the rates and suitable ways to reduce the BMW M3 auto insurance cost.
The average annual BMW M3 car insurance cost is $1,752. The higher market value and speed-related risk factors make this high-performance sports sedan costlier to insure. But similar cars of the same segment in competition with the BMW M3 are slightly higher.
| Make/Model | Average Annual Cost | Average Monthly Cost |
|---|---|---|
| BMW M3 | $1,752 | $146 |
| Mercedes-AMG C63 | $2,448 | $204 |
| Audi RS5 | $2,004 | $167 |
| Alfa Romeo Giulia Quadrifoglio | $1,164 | $97 |
| Cadillac CT4-V Blackwing | $2,316 | $193 |
| Lexus IS 500 | $2,628 | $219 |
| Tesla Model 3 Performance | $2,508 | $209 |
Apart from the make, the insurance cost for the BMW M3 varies according to the trim level, model year, and insurance companies.
The average monthly BMW M3 car insurance cost changes depending on the model years and auto insurance. For each BMW M3 model year, the average insurance cost varies based on the car insurance provider. The average annual and monthly premium rate for the high-performance sports car is as mentioned in the table below:
| Model Year and Vehicle | Average Annual Cost | Average Monthly Cost |
|---|---|---|
| 2018 BMW | $2,853 | $238 |
| 2017 BMW | $3,249 | $271 |
| 2015 BMW | $2,870 | $239 |
| 2013 BMW | $2,497 | $208 |
| 2012 BMW | $2,691 | $224 |
| 2011 BMW | $2,376 | $198 |
Depending on the various model years, the cheapest insurance companies offering the best rates change. As the owner, it is important for you to know the companies offering cheap BMW M3 insurance quotes.
The average 2018 BMW M3 car insurance cost is $2,853 annually. Tennesse Farmers and Erie provide the cheapest rates. The minimum monthly rate for the auto insurance of 2018 BMW M3 ranges between $119 - $207.
| Cheapest Insurance Companies | Average Annual Cost | Average Monthly Cost |
|---|---|---|
| Tennessee Farmers | $1,567 | $119 |
| Erie | $1,688 | $129 |
| Mercury | $1,839 | $141 |
| Plymouth Rock Insurance | $2,011 | $156 |
| USAA | $2,054 | $159 |
| Nationwide | $2,114 | $164 |
| Acuity | $2,300 | $180 |
| Arbella | $2,341 | $183 |
| Country | $2,423 | $190 |
| State Farm | $2,469 | $194 |
| Progressive | $2,558 | $201 |
| Vermont Mutual | $2,622 | $207 |
The 2017 BMW M3 insurance cost is $3,249 per year. Tennesse Farmers and Erie provide the cheapest rates. With the industry average cost to insure the 2017 model car is above $3,000, here are some of the cheapest BMW M3 car insurance rates by various companies that will cost you below the industry's best annual average rate.
| Cheapest Insurance Companies | Average Annual Cost | Average Monthly Cost |
|---|---|---|
| Tennessee Farmers | $1,440 | $120 |
| Erie | $1,481 | $123 |
| Mercury | $1,650 | $138 |
| Plymouth Rock Insurance | $1,800 | $150 |
| Arbella | $1,944 | $162 |
| Nationwide | $1,986 | $166 |
| Acuity | $2,005 | $167 |
| USAA | $2,038 | $170 |
| State Farm | $2,106 | $176 |
| Country | $2,141 | $178 |
| Vermont Mutual | $2,229 | $186 |
| Progressive | $2,351 | $196 |
The average annual insurance cost of a 2015 BMW M3 is $2,870. Erie and Mercury offer the cheapest rates for a 2015 BMW M3. According to our research, the minimum average monthly premium offered for the 2015 model BMW M3 is $117. The highest affordable monthly BMW M3 insurance cost for car model year is $187 by Vermont Mutual.
| Cheapest Insurance Companies | Average Annual Cost | Average Monthly Cost |
|---|---|---|
| Erie | $1,405 | $117 |
| Mercury | $1,593 | $133 |
| Plymouth Rock Insurance | $1,674 | $140 |
| USAA | $1,915 | $160 |
| State Farm | $1,940 | $162 |
| Tennessee Farmers | $2,040 | $170 |
| Arbella | $2,057 | $171 |
| Acuity | $2,068 | $172 |
| Country | $2,105 | $175 |
| Nationwide | $2,112 | $176 |
| Progressive | $2,168 | $181 |
| Vermont Mutual | $2,242 | $187 |
$2,497 is the average annual premium for the 2013 model BMW M3. After averaging insurance costs based on trim levels and rates of insurance companies across the USA, the cheapest insurance cost in our research is found to be offered by Erie. The average cheapest monthly insurance rate offered by the insurer is $108. Here are the average annual and monthly BMW M3 insurance rates from various auto insurance providers, cheaper than the average annual cost for the 2013 BMW M3.
| Cheapest Insurance Companies | Average Annual Cost | Average Monthly Cost |
|---|---|---|
| Erie | $1,291 | $108 |
| USAA | $1,538 | $128 |
| Plymouth Rock Insurance | $1,569 | $131 |
| State Farm | $1,708 | $142 |
| Acuity | $1,743 | $145 |
| Arbella | $1,756 | $146 |
| Tennessee Farmers | $1,826 | $152 |
| Vermont Mutual | $1,878 | $157 |
| Nationwide | $1,888 | $157 |
| Country | $1,893 | $158 |
| Southern Farm Bureau | $2,096 | $175 |
| American Family | $2,111 | $176 |
2011 BMW M3 is one of the cheapest model years of BMW M3 to be insured. The average insurance cost for the model year is $2,376. The cost of insurance among the 12 cheapest insurance companies to insure 2011 BM3 M3 ranges between $100 - $151. Go through the average annual and monthly rates offered by each of the twelve companies.
| Cheapest Insurance Companies | Average Annual Cost | Average Monthly Cost |
|---|---|---|
| Erie | $1,198 | $100 |
| USAA | $1,383 | $115 |
| Plymouth Rock Insurance | $1,476 | $123 |
| Arbella | $1,509 | $126 |
| Vermont Mutual | $1,530 | $128 |
| Tennessee Farmers | $1,658 | $138 |
| Country | $1,671 | $139 |
| Acuity | $1,706 | $142 |
| Southern Farm Bureau | $1,747 | $146 |
| Nationwide | $1,768 | $147 |
| State Farm | $1,789 | $149 |
| American Family | $1,814 | $151 |
The numerous safety features of the BMW M3 series ensure safety and a lower insurance rating. These are the salient safety features hosted on a BMW M3.
The BMW M3 insurance cost is influenced by each trim level's safety features and specifications. Go through the safety factors that influence insurance quotes. These unique features ensure both safety and low insurance costs.
The safety rating by the Insurance Institute of Highway Safety is accepted nationwide and influences your M3 insurance rates highly.
| Test Type | Rating |
|---|---|
| Small overlap front: driver-side | Good |
| Small overlap front: passenger-side | Good |
| Moderate overlap front | Good |
| Side | Good |
| Roof strength | Good |
| Head restraints and seats | Good |
Factors such as age, driving history, location, credit score, and annual mileage have a significant role in deciding your car's premium. Meanwhile, specific factors related to the car model influence BMW M3 insurance quotes. Let's take a look at each of them.
Performance Capabilities: BMW M3 is a high-performance sports sedan belonging to the premium mid-size segment. With powerful engines and performance-oriented build, the major auto insurers have classified the BMW M3 as high-risk. Being a high-risk vehicle increases the BMW M3 insurance cost significantly.
Cost of Repairs & Parts:The costs of this premium mid-sized wagon's parts are proportionally high. Similar is the case with regard to its repair and labor costs. These factors do impact auto insurance costs.
Trim Level & Optional Packages:Along with the improvement in performance with higher trim levels, the insurance cost will see a hike. The add-on components like carbon fiber roofs and performance exhausts are likely to increase the premium.
Theft Risk:The value of the BMW M3 as a premium performance car makes it highly theft-prone. This factor will impact the cost of car insurance.
Safety Ratings & Features:The best safety features that safeguard passengers and cars in the event of a crash or theft.
Due to the high cost, increased theft risk, and pricey repairs associated with luxury vehicles, insurance for a luxury sports car can be rather expensive. Here are some tips for keeping your BMW M3 insurance costs in check.
Be clever with your assertions:Most car insurance companies will charge you for any accident at fault for three years. Consider these measures before deciding to file a claim or pay out-of-pocket.
Research and shop around: is crucial to research and get rates from several insurance companies. This will make it easier for you to compare options and decide which meets your needs best. Additionally, it stops you from paying too much for insurance.
Online quotes: For luxury sports cars, like the BMW M3 series, it is reasonably straightforward to procure online quotes from top insurers. However, businesses may charge different rates for the same amount of coverage, so comparing quotes is important.
Bundle your policies:insurance firms provide rewards for bundling numerous insurance policies, known as multi-line discounts. In addition, most insurance providers provide significant savings if you get your life, house, auto, and pet insurance from the same provider. Avoid adding high-risk drivers to your policy, such as adolescent drivers, as doing so will significantly raise your premiums.
Know the discounts:Many insurance companies provide discounts depending on your clean driving record, driving history, credit scores, strong school record, and other factors. Inquiring about these discounts' availability may result in lower pricing.
Opting for a higher deductible will automatically reduce your premium rates.
Off-season vehicle storage:Owning a luxury car can indicate occasional driving. If you drive your car occasionally, you can opt for storage of your vehicle. Drop all but extensive coverage if you don't intend to drive a car for an extended period of time. Maintain comprehensive coverage in the event of any damage to your car that is not relevant to your driving. Certain companies will allow you to maintain just the comprehensive coverage if you have opted to drive seasonal coverage.
Security and anti-theft luxury car discounts:Car insurance often discounts expensive sports cars like the BMW M3 series since they host safety features like anti-lock brakes, daytime running lights, airbags, and traction control systems. However, many of these accessories are typically inexpensive vehicles, so be sure your insurance covers any future discounts.
Insurers offer discounts on features that minimize burglary risks, such as car alarms, safe parking, electronic monitoring equipment, and window etching for vehicle identification numbers (VIN)
Find the best BMW M3 car insurance rates using various methods. By knowing the important factors that decide the insurance cost of M3, it will be easier to find the best insurance rates. Being categorized as a high-performance sports car makes it one of the costliest cars to insure.
Factors affecting the insurance cost of the BMW M3, such as trim level, model year, and the state in which the car is registered, affect the insurance cost. Depending on these factors, along with other features such as high theft risk, there will be variations in BMW M3 car insurance cost.
Search for BMW-specific insurers or programs so that you can get exclusive coverage for OEM parts. Custom mods combined with better offers for the car models can save you much on BMW M3 insurance costs.
While checking the insurance rates, adjust coverage levels. For example, higher liability coverage should be set for the BMW M3, as it belongs to the high-performance category. And increase the comprehensive collision coverage due to the high repair value it might incur during such events.
The annual reevaluation is better for the BMW M3 as the car has higher depreciation. Scraping unnecessary coverage on the car and retaining the most necessary coverage, like the state minimum liability coverages, can help to get a cheaper insurance rate.
Compare the quotes, including relevant coverages, with multiple insurers. This will give you the best insights into the rates for different coverages by different car insurance providers. Also, it helps to choose the cheapest insurance companies for the BMW M3 car. Mobile applications like Way can quotes from multiple insurers at a time.
Get cheap BMW M3 auto insurance quotes with Way.com sign-up on the platform either through the web or mobile application. Provide accurate details regarding the driver and the car. Choose the required covers and coverage limits for your BMW M3 and get free insurance quotes from multiple auto insurance providers.
The auto insurance rates published in this guide are based on the results of research completed by Way.com’s data team. Using a mix of public and internal data, we analyzed millions of rate averages across U.S. ZIP codes.
Quotes are typically based on a full coverage policy average unless otherwise noted within the content.
These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes will differ. Given this, it’s important to go through our insurance steps form to find how much you can save with way.com
Way.com’s Insurance Broker Quote Data
The average annual BMW M3 insurance rate is $1,752. However, the rates offered by various differs with car model year, trim level, cost of repair, etc.
Erie is the cheapest insurance company for BMW M3. The average annual BMW M3 insurance rate offered by the insurer is $1,390.
BMW M3 insurance rates are usually higher, primarily due to its classification as a luxury vehicle. High residual value and costly repairs along with factors such as driver profile, zip code, etc. Influence BMW M3 insurance costs.
Access your digital insurance card through the app. You no longer need to carry your physical insurance card with you.
Receive reminders before your renewal. Way.com will also send new quotes from up to 45 insurance companies with your renewal reminder.
Keep everyone on your policy up to date by sharing your insurance information.
Make changes to your policy right from the app (coming soon) and ask for expert advice.
For the best user experience, please download our Way app.
or
Free quotes from 150+ carriers in seconds
