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BMW 3 Series insurance rates

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How much does BMW 3 Series insurance cost?

The average insurance cost for a BMW 3 Series is $303 a month, or $3,630 a year. With a base price of $44,950, the annual insurance cost–to–base car price ratio is 8.1%.

The BMW 3 series has been in production since 1975 with models spanning across several generations. It’s considered a compact executive car, which is essentially a large four-door sedan. Coverage for this car could be expensive, but its great safety features and near-perfect crash test scores could help you get better rates.

Compare free BMW 3 Series insurance quotes online

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Name Product Accident Forgiveness Min. Liability Coverage Discounts Available Online Claims Available Provinces
Surex Auto Insurance
Up to 25%
Alberta, New Brunswick, Newfoundland, Northwest Territories, Nova Scotia, Nunavut, Ontario, PEI, Yukon
Submit one application and receive quotes from 10+ insurers. Save up to 25% on your car insurance, plus get access to an insurance advisor.

Who it might be good for: Drivers looking to use an insurance broker to compare multiple pricing and coverage options.
Aviva Car Insurance
Up to 25%
Alberta, Northwest Territories, Nova Scotia, Nunavut, Ontario, Yukon
Aviva car insurance offers customizable policies, discounts and optional insurance coverage add-ons. Get a free quote through Surex.

Who it might be good for: Drivers looking to customize their auto policy.
Travelers Car Insurance
Up to 25%
Alberta, Northwest Territories, Nova Scotia, Nunavut, Ontario, Yukon
Travelers auto insurance offers a selection of coverage options for just about any type of vehicle. Get a free quote through Surex.

Who it might be good for: Drivers looking to get car, motorcycle, classic car, motorhome or recreational vehicle coverage.

How to compare insurance for the BMW 3 Series

Shopping for auto insurance can be frustrating, and the worst part is that you can’t avoid it. Every province requires auto insurance with its own set minimums, so while you won’t be able to forego coverage, you can save a lot of money if you know what to look for. Here are a few factors to consider when you’re shopping around.

  • Price. Make sure to enter the same details every time you get a quote from providers. This will allow you to accurately compare your options by price.
  • Deductible. Your deductible amount will likely influence the cost of your monthly premiums. A higher deductible will cost more when you file a claim, but you’ll spend less on premiums. Lower deductibles cost more on a monthly basis, but you’ll pay less out of pocket if you file a claim.
  • Minimum coverage. Every province has a mandatory minimum amount of coverage. Before signing up for a policy, make sure your provincial minimums are met.
  • Additional coverage. Consider whether or not you need additional coverage. Personal injury protection and uninsured motorist coverage are two of the many possible options.
  • Extras. Extras like accident forgiveness or vanishing deductible can improve your policy and provide peace of mind. Find out what extra policy features are available when shopping around.
  • Restrictions. Some providers have restrictions or limitations on your car insurance policy. Find out if any apply to you to avoid denied claims or gaps in coverage.
  • Manufacturer offer or loyalty discount. Some automakers have manufacturer offers or loyalty discounts through insurance providers. Speak with BMW to find out if you are eligible.
  • Warranty. Find out what’s covered by your manufacturer or extended warranty to avoid paying for overlapping coverage.

What factors affect BMW 3 Series insurance costs?

While your driving history, location and other variables can influence the cost of insurance, the vehicle you drive has a considerable impact. This is because each vehicle has different repair costs, theft rates, performance and so on. Here’s how the BMW 3 Series’ characteristics could affect the cost of insurance.

  • Body type. The 3 Series is a four-door sedan, best suited for families, commuting and other forms of daily driving. This low-risk driver profile could help reduce auto insurance rates.
  • Type of car. BMW makes luxury performance vehicles and the 3 series is no exception. This classification could lead to higher insurance rates.
  • Theft. Sedans are the most frequently stolen type of vehicle, meaning you’ll likely be charged a premium to insure this vehicle.
  • Repairs. BMW is best known for its cutting-edge technology and luxurious design. Parts and service for the 3 series can be expensive, which may increase your auto insurance rates.
  • Safety ratings. The 2020 BMW 3 series won the IIHS top safety pick and holds great crashworthiness ratings. This could reduce the cost of insurance.

How do trim packages and extra build options affect BMW 3 Series insurance cost?

Insurance providers consider your risk of filing claims and the cost of paying them out when calculating your insurance premiums. Since every vehicle is different, the make and model you drive can directly influence your chances of filing a claim. But beyond your actual vehicle, the trim and packages you choose can affect performance and safety, making it important to include all details about your vehicle when getting quotes.

BMW 3 Series money-saving safety features

You could save money on car insurance for your BMW 3 Series if it comes equipped with these safety features.

  • Airbags
  • Anti-lock brakes
  • Anti-theft device
  • Parking sensors
  • Surround view camera system
  • Daytime running lights
  • Electronic stability control
  • Seatbelt pretensioners
  • Rear backup sensors
  • Lane-departure warning systems
  • Adaptive cruise control

Does the BMW 3 Series qualify for auto insurance discounts?

Your vehicle may be eligible for various auto insurance discounts depending on which provider you choose. However, the exact discounts you receive may vary depending on location, provider, options, and other factors. Here are a few that should apply to the BMW 3 Series:

  • New car discount
  • Anti-lock brake discount
  • Anti-theft discount
  • Passive restraint discount (Airbags, motorized seat belts, etc.)
  • Emergency roadside assistance discount

How reliable is the BMW 3 Series?

According J.D Power, the 2020 BMW 3 Series received a 76/100 rating for reliability. This is slightly better than most vehicles in its class, but your experience may vary depending on a number of factors.

The BMW 3 series has been in production since 1975, but there are very few recalls despite its lengthy production history.

  • 2012-2015. A number of various 3 Series models produced between 2011 and 2015 were recalled due to a software issue that could prevent the side marker lights from operating when the parking lights or headlights were active.
  • 2012-2014. Some 2012-2014 BMW 3 series models were recalled due to issues stemming from insufficient lubrication on the vacuum pump that supplies brake power assistance. A number of vehicles were also recalled due to a failing fuel pump that could cause vehicles to stall.
  • 1998-2006. A large number of 3 Series models were part of the Takata Airbag Recall. This involved airbag inflators used in various BMW models that could fail to inflate or spray metal fragments when activated.

Since there have been so many models and variants of the BMW 3 Series, it’s tough to pinpoint the most common issues. With that being said, the 320, which is one of the more common models, has a history of engine and transmission issues, especially on 2013 and 2014 versions.

BMW 3 Series maintenance

As a luxury vehicle manufacturer, BMW strives to provide a comfortable and convenient driving experience. Many BMWs are considered quite reliable and do not require much maintenance to keep them on the road. However, considering that the 3 Series is a high-end vehicle, routine service appointments can help ensure your vehicle operates as it should. Here’s what to expect in terms of oil changes, maintenance schedules, mileage and more.

  • BMW suggests an oil change every 16,000 kilometres or 12 months. Depending on how you drive your vehicle, you may want to consider having it changed more often.
  • Oil changes should cost between $100 to $200, but your cost may vary.
  • Newer BMW models come equipped with a Condition Based Servicing system and a Service Interval Indicator. Both of these systems will monitor your vehicle and let you know when parts need replacing and when the vehicle should be brought in for service.

Is an extended warranty worth it for the BMW 3 Series?

The 3 Series comes with BMW’s four-year/80,000 kilometres new vehicle warranty that covers problems due to defective parts or improper service. New vehicles also come with a special corrosion warranty along with free roadside assistance. If you’d like to increase your coverage, the extended warranty is available in multiple terms ranging from five to seven years. By purchasing the extended warranty, you’ll receive service from certified BMW technicians, OEM part replacements, mechanical breakdown towing and more.

How safe is the BMW 3 Series?

Like many other BMW vehicles, the 3 series holds great safety ratings in almost every category. It was the IIHS 2020 top safety pick for mid-size luxury car / 4-door sedan and it received the highest possible ratings in most crashworthiness tests.

Bottom line

Starting at just under $45,000, the BMW 3 Series is an impressive luxury sedan that’s available in multiple styles. While its great safety and driver assistance features make it a great daily driver, build options allow you to customize the vehicle to suit your needs. However, the model and options you choose can affect the cost of insurance, so you should compare your options to find out how much coverage for your 3 series will cost.

Frequently asked questions about BMW 3 Series insurance

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Peter Carleton is a freelance writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading. See full bio

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Associate Publisher, Investments

Jaclyn Hurst was an associate publisher at Finder. She has a Bachelor’s degree in Business from Redeemer University and a University Certificate in Management Foundations from Athabasca University. She’s as passionate about business and finance as she is about the great Canadian outdoors, organic Sumatra coffee and music. See full bio

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