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BMW M3 insurance rates

Average M3 insurance cost? $275. But your chariot can go cheaper — see quotes from Progressive.

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We pulled car insurance quotes from top insurance companies to find that the average monthly cost to insure a BMW M3 is $275.16 — or, $3,302 annually. However, your actual costs depend on your driving history, vehicle model and year, ZIP plus other factors. Some older models may cost less to insure than others depending on which safety features your vehicle has and which insurer you choose.

Model YearProgressiveGeicoState FarmFarmersAverage
2011 BMW M3$170.42$136.66$216.88$221.70$186.42
2016 BMW M3$180.75$181.46$293.28$317.10$243.15
2021 BMW M3$235.43$277.50$305.52$282.18$275.16

How we got these rates

Our rates are based on a single 30-year-old driver with a clean driving history living in California. California is one of seven states that doesn’t use gender to determine car insurance costs. We chose full coverage car insurance with liability limits that exceed the California state minimum requirements, which include:

  • Bodily injury liability per person: $50,000
  • Bodily injury liability per accident: $100,000
  • Property damage liability: $50,000
  • Comprehensive deductible: $500
  • Collision deductible: $500
  • Medical payments: $5,000
  • Uninsured motorist bodily injury: $50,000/$100,000
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Factors that affect the M3’s insurance cost

The M3’s moderate car value, expectedly high safety and few thefts should keep your insurance rates down for a luxury sedan. Keep in mind that insurance companies use a variety of factors that weigh into your rates, including your location and driving record.

  • Car value — Its value keeps rates on par with other luxury cars

You won’t see higher insurance premiums solely because of the M3’s value. The M3 has a starting price tag of $70,895, which rides in the middle of other luxury performance cars.

  • Safety — No safety ratings, but similar BMWs see top safety

The M3 hasn’t been crash-tested by the National Highway Traffic Safety Administration (NHTSA) or the Insurance Institute for Highway Safety (IIHS). However, similar BMWs like the 3-Series score top ratings from safety organizations.

  • Theft — It’s not a target for theft, keeping insurance rates down

The latest theft rate for the BMW M3 is 0.28 per 1,000 cars made. This rate is much lower than the NHTSA’s median of 3.58 thefts per 1,000 cars, showing that the M3 doesn’t have much history of theft.

Theft rates are for the latest model year with theft data available and should be used only for a general idea of theft history. The NHTSA database currently includes theft data for 2004 to 2014 models.

Compare the M3’s insurance factors to similar cars

While you’ll pay more for insurance than nonluxury sedans, rest assured that the BMW M3’s premium is similar to other luxury performance cars. As we’d expect, though, cars with a lower price tag or less powerful engine like the 2021 Dodge Charger see lower rates.

Performance sedans similar to BMW M3Monthly cost to insureCar valueSafety rating by NHTSALatest theft rate
2021 BMW M3$275.16$70,895Not rated0.28
2021 Dodge Charger$212.10$32,6205 of 5 stars4.77
2021 Tesla Model S$306.22$81,190Not rated0.11
2021 Mercedes-Benz CLS-Class$270.11$71,350Not rated0.72

We found safety ratings and theft rates from the National Highway Traffic Safety Administration (NHTSA). We also found 2021 car values from Car and Driver’s car model reviews.

BMW M3 Series money-saving safety features

You could save money on car insurance for your BMW M3 Series if it comes equipped with these safety features.

  • Airbags
  • Antilock brakes
  • Antitheft device
  • Electronic stability control
  • Lane-departure warning
  • Adaptive cruise control

Your rates may be different based on details such as your age, location, job type, annual mileage and more.

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