Gianetta Palmer is a writer, copywriter, and essayist. Her work has appeared in EverydayHealth.com, Healthline, and The Dyrt Magazine. She is the author of Scrunchie-Fried and writes a lot about car insurance in her spare time.

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florid...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Jun 17, 2021

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Looking for a new or used BMW M3? And wondering how much it costs to insure by year? We researched average annual insurance costs for each model year and have compiled the results for you below.

BMW M3 insurance facts

  • Average full coverage auto insurance premium: $252/month

  • Most affordable companies: USAA ($149/month) & GEICO ($155/month)

  • M3 car insurance cost vs. average rate: $142 more expensive than the average vehicle

Explore the pricing information below to find how much it will cost you to insure your BMW M3 by model year and auto insurer.

Free Auto Insurance Comparison

Enter your ZIP code below to view companies that have cheap auto insurance rates.

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Below average BMW M3 insurer costs by state:

Risk factors affecting BMW M3 car insurance rates

The make and model of your vehicle, along with the year of manufacture, are the three most important factors in determining your car’s value, which in turn is the main factor in determining your car insurance premium. Your own personal driving history, age, marital status, credit scoretype of vehicle, coverage levels, and other personal factors are also important components of your rate.

How to save money on BMW M3 car insurance?

Many driver discounts are available to people through most major auto insurance companies, such as

  • Student discounts

  • Safe drivers

  • Senior discounts

With all BMW models, you can get the following car insurance discounts:

  • Passive restraint systems

  • Anti-lock brakes

  • Anti-theft devices

BMW Luxury Automobile Brand

BMW is a German automobile manufacturer and owner of the MINI brand, producing luxury vehicles for the United States and other international markets. The target market of BMW is the affluent class of modern urban consumers. All BMW’s automobiles have high safety ratings, with many of their vehicles getting “Top Safety Pick” and 5-star safety and crash test ratings from the National Highway Traffic Safety Administration (NHTSA). The BMW 3 Series, Z4, and X5 are some of their most popular vehicles.

Higher than average M3 repair costs equal higher car insurance rates

Many consumers are attracted to the BMW luxury, comfort, safety, and driver-assist technologies, like BMW’s driver assistance system. Automotive parts are not as common as popular vehicles, like the Toyota or Honda. Repairing a BMW is higher than average since repair parts are more expensive and not as available as popular vehicles. For this reason, many BMWs are going to have higher than average car insurance rates to similar vehicles in their class.

Rapid depreciation for BMW M3 affecting auto policies

Another factor to consider for BMW’s, is they depreciate rapidly (notably higher-end luxury BMW models), affecting auto insurance rates. As your vehicle’s value goes down each year, your auto policy could go down at each renewal. On the other hand, in an auto accident, you need repair parts that rarely go down in price for all BMW models. This could put you in a difficult situation position since many car insurance companies will subtract depreciation from the amount paid for your insurance claim resulting in a situation where your claim payout doesn’t fully cover your repair cost.

High IIHS and NHTSA safety ratings lower car insurance rates for drivers

BMW’s are known for their safety ratings, safety features, 5-star crash test ratings, and driver-assist technologies (semiautonomous driving), lowering auto insurance rates for drivers with a good driving record, sometimes getting 20% driver discounts for passive restraints and safety features in BMW models. The BMW 3 series, five series, X3, and X5 are Insurance Institute for Highway Safety (IIHS) “Top Safety Picks,” and the NHTSA consistently gives BMW top safety ratings each year, lowering your car insurance costs.

AutoInsureSavings.org licensed car insurance agents to recommend comprehensive and collision coverage, uninsured motorist coverage, and roadside assistance for new Audi automobile owners when buying a car insurance policy.

2021 BMW M3

Cheapest Insurance CompaniesAverage Annual Cost
21st Century $3518
Allstate$2750
American Family$1967
Erie$2647
GEICO$1836
Kentucky Farm Bureau$3216
Liberty Mutual$2136
Mercury$2047
Nationwide$3082
Progressive$2290
Safeco$3615
State Farm$2482
Tennessee Farmers$2543
Texas Farm Bureau$2359
The Hanover$3420
Travelers$2907
USAA$1788

Compare all 2021 BMW M3 rates

Average Cost to Insure Per Year

$3034

List Price

$69900

Trims Available

Base - CS - Base Engine: twin-turbo 3.0-liter inline-six with advance and passive safety features: BMW Active Driving Assistant, collision avoidance technologies with forward-collision warning, pedestrian detection, low-speed automatic emergency braking, lane-departure warning, blind-spot warning, rear cross-traffic warning, Safety Features: Airbags, 4-Wheel ABS, 4-Wheel Disc Brakes, Brake Assist, Electronic Stability Control, Traction Control, Blind Spot Monitor, Lane Departure Warning, and Lane Keeping Assist

2020 BMW M3

Cheapest Insurance CompaniesAverage Annual Cost
21st Century $3316
Allstate$2777
American Family$1812
Erie$2640
GEICO$2456
Kentucky Farm Bureau$3124
Liberty Mutual$2147
Mercury$2035
Nationwide$3045
Progressive$2235
State Farm$1964
Tennessee Farmers$2570
Texas Farm Bureau$2348
The Hanover$3302
Travelers$2865
USAA$1706

Compare all 2020 BMW M3 rates

Average Cost to Insure Per Year

$3012

List Price

$69900

Trims Available

Base - CS - Base Engine: twin-turbo 3.0-liter inline-six with advance and passive safety features: BMW Active Driving Assistant, collision avoidance technologies with forward-collision warning, pedestrian detection, low-speed automatic emergency braking, lane-departure warning, blind-spot warning, rear cross-traffic warning, Safety Features: Airbags, 4-Wheel ABS, 4-Wheel Disc Brakes, Brake Assist, Electronic Stability Control, Traction Control, Blind Spot Monitor, Lane Departure Warning, and Lane Keeping Assist

2019 BMW M3

Cheapest Insurance CompaniesAverage Annual Cost
21st Century $3016
Allstate$2340
American Family$1635
Erie$2265
GEICO$2035
Kentucky Farm Bureau$2718
Liberty Mutual$1799
Mercury$1781
Nationwide$2560
Progressive$1835
State Farm$1750
Tennessee Farmers$2153
Texas Farm Bureau$1954
The Hanover$2853
Travelers$2473
USAA$1623

Compare all 2019 BMW M3 rates

Average Cost to Insure Per Year

$2967

List Price

$67500

Trims Available

Base - CS - Base Engine: twin-turbo 3.0-liter inline-six with advance and passive safety features: BMW Active Driving Assistant, collision avoidance technologies with forward-collision warning, pedestrian detection, low-speed automatic emergency braking, lane-departure warning, blind-spot warning, rear cross-traffic warning, Safety Features: Airbags, 4-Wheel ABS, 4-Wheel Disc Brakes, Brake Assist, Electronic Stability Control, Traction Control, Blind Spot Monitor, Lane Departure Warning, and Lane Keeping Assist

2018 BMW M3

Cheapest Insurance CompaniesAverage Annual Cost
Acuity$ 2228
Acuity$ 2228
Allied$ 1862
Allied$ 1862
Arbella$ 2269
Arbella$ 2269
Country$ 2351
Country$ 2351
Erie$ 1616
Erie$ 1616
Mercury$ 1767
Mercury$ 1767
Nationwide$ 2042
Nationwide$ 2042
Plymouth Rock Insurance$ 1939
Plymouth Rock Insurance$ 1939
Progressive$ 2486
Progressive$ 2486
State Farm$ 2397
State Farm$ 2397
Tennessee Farmers$ 1495
Tennessee Farmers$ 1495
USAA$ 1982
USAA$ 1982

Compare all 2018 BMW M3 rates

Average Cost to Insure Per Year

$ 2923

List Price

$ 66500

Trims Available

Base - CS

2017 BMW M3

Cheapest Insurance CompaniesAverage Annual Cost
Acuity$ 2077
Acuity$ 2077
Allied$ 1892
Allied$ 1892
Arbella$ 2016
Arbella$ 2016
Country$ 2213
Country$ 2213
Erie$ 1553
Erie$ 1553
Mercury$ 1722
Mercury$ 1722
Nationwide$ 2058
Nationwide$ 2058
Plymouth Rock Insurance$ 1872
Plymouth Rock Insurance$ 1872
State Farm$ 2178
State Farm$ 2178
Tennessee Farmers$ 1512
Tennessee Farmers$ 1512
USAA$ 2110
USAA$ 2110
Vermont Mutual$ 2301
Vermont Mutual$ 2301

Compare all 2017 BMW M3 rates

Average Cost to Insure Per Year

$ 3320

List Price

$ 64000

Trims Available

Base

2015 BMW M3

Cheapest Insurance CompaniesAverage Annual Cost
Acuity$ 2140
Acuity$ 2140
Allied$ 2062
Allied$ 2062
Arbella$ 2129
Arbella$ 2129
Country$ 2177
Country$ 2177
Erie$ 1477
Erie$ 1477
Mercury$ 1665
Mercury$ 1665
Nationwide$ 2184
Nationwide$ 2184
Plymouth Rock Insurance$ 1746
Plymouth Rock Insurance$ 1746
Progressive$ 2240
Progressive$ 2240
State Farm$ 2012
State Farm$ 2012
Tennessee Farmers$ 2112
Tennessee Farmers$ 2112
USAA$ 1987
USAA$ 1987

Compare all 2015 BMW M3 rates

Average Cost to Insure Per Year

$ 2941

List Price

$ 62000

Trims Available

Base

2013 BMW M3

Cheapest Insurance CompaniesAverage Annual Cost
Acuity$ 1815
Acuity$ 1815
Allied$ 1820
Allied$ 1820
Arbella$ 1828
Arbella$ 1828
Country$ 1965
Country$ 1965
Erie$ 1363
Erie$ 1363
Nationwide$ 1960
Nationwide$ 1960
Plymouth Rock Insurance$ 1641
Plymouth Rock Insurance$ 1641
Southern Farm Bureau$ 2168
Southern Farm Bureau$ 2168
State Farm$ 1780
State Farm$ 1780
Tennessee Farmers$ 1898
Tennessee Farmers$ 1898
USAA$ 1610
USAA$ 1610
Vermont Mutual$ 1950
Vermont Mutual$ 1950

Compare all 2013 BMW M3 rates

Average Cost to Insure Per Year

$ 2569

List Price

$ 60100

Trims Available

Base

2012 BMW M3

Cheapest Insurance CompaniesAverage Annual Cost
Acuity$ 1707
Acuity$ 1707
Allied$ 1778
Allied$ 1778
Arbella$ 1892
Arbella$ 1892
Country$ 1908
Country$ 1908
Erie$ 1349
Erie$ 1349
Nationwide$ 1971
Nationwide$ 1971
Plymouth Rock Insurance$ 1594
Plymouth Rock Insurance$ 1594
Southern Farm Bureau$ 2068
Southern Farm Bureau$ 2068
State Farm$ 1892
State Farm$ 1892
Tennessee Farmers$ 1873
Tennessee Farmers$ 1873
USAA$ 1509
USAA$ 1509
Vermont Mutual$ 1831
Vermont Mutual$ 1831

Compare all 2012 BMW M3 rates

Average Cost to Insure Per Year

$ 2762

List Price

$ 60100

Trims Available

Base

2011 BMW M3

Cheapest Insurance CompaniesAverage Annual Cost
Acuity$ 1778
Acuity$ 1778
Allied$ 1734
Allied$ 1734
Arbella$ 1581
Arbella$ 1581
Country$ 1743
Country$ 1743
Erie$ 1270
Erie$ 1270
Nationwide$ 1840
Nationwide$ 1840
Plymouth Rock Insurance$ 1548
Plymouth Rock Insurance$ 1548
Southern Farm Bureau$ 1819
Southern Farm Bureau$ 1819
State Farm$ 1861
State Farm$ 1861
Tennessee Farmers$ 1730
Tennessee Farmers$ 1730
USAA$ 1455
USAA$ 1455
Vermont Mutual$ 1602
Vermont Mutual$ 1602

Compare all 2011 BMW M3 rates

Average Cost to Insure Per Year

$ 2447

List Price

$ 55900

Trims Available

Base