BMW M3 insurance group

Compare car insurance costs for your BMW M3 based on your age and location and find out how to reduce your car insurance premiums.

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The M3 is the high-performance version of the 3 Series and is for those seeking that extra va-va-voom. It’s one of the iconic sports cars of its generation. In this guide, you’ll discover how much it might cost to insure this vehicle based on your age and location.

What insurance group does the BMW M3 fall under?

Before being made available to buy, all vehicles are assigned a specific insurance group based on how expensive it should be to insure. These groups range from 1 (cheapest) to 50 (most expensive) and help insurers to determine the cost of your premium. BMW M3 models range from insurance group 43 to 45, meaning the car insurance will be on the expensive side.

However, the costs may vary slightly between different BMW M3 models, based on the different factors related to the vehicle. As an example, a 30-year-old driver in an average postcode could pay around £1,080 for cover on a BMW M3 Coupe Dakar 2d that is in insurance group 43 or around £1,112 for a BMW M3 M Performance Edition 2d DCT that is in insurance group 45.

Model / Version Group (1-50) 20yrs 30yrs 40yrs 50yrs Get quote
M3 Coupe Dakar 2d 43 £1,861 £1,080 £946 £764 Get Quote
M3 Coupe Dakar 2d DCT 43 £1,861 £1,080 £946 £764 Get Quote
M3 Coupe Monte Carlo 2d 43 £1,861 £1,080 £946 £764 Get Quote
M3 Coupe Monte Carlo 2d DCT 43 £1,861 £1,080 £946 £764 Get Quote
M3 Coupe Alpine 2d 43 £1,861 £1,080 £946 £764 Get Quote
M3 Coupe Alpine 2d DCT 43 £1,861 £1,080 £946 £764 Get Quote
M3 Coupe (2010) 2d 43 £1,861 £1,080 £946 £764 Get Quote
M3 Coupe (2010) 2d DCT 43 £1,861 £1,080 £946 £764 Get Quote
M3 Coupe 2d 43 £1,861 £1,080 £946 £764 Get Quote
M3 Coupe 2d DCT 43 £1,861 £1,080 £946 £764 Get Quote
M3 Saloon 4d DCT 43 £1,861 £1,080 £946 £764 Get Quote
M3 Convertible (2010) 2d 44 £1,890 £1,096 £960 £775 Get Quote
M3 Convertible (2010) 2d DCT 44 £1,890 £1,096 £960 £775 Get Quote
M3 Convertible 2d 44 £1,890 £1,096 £960 £775 Get Quote
M3 Convertible 2d DCT 44 £1,890 £1,096 £960 £775 Get Quote
M3 Coupe Frozen Silver Edition 2d DCT 43 £1,861 £1,080 £946 £764 Get Quote
M3 Coupe Limited Edition 500 2d 43 £1,861 £1,080 £946 £764 Get Quote
M3 Coupe Limited Edition 500 2d DCT 43 £1,861 £1,080 £946 £764 Get Quote
M3 Convertible Limited Edition 500 2d 45 £1,918 £1,112 £974 £786 Get Quote
M3 Convertible Limited Edition 500 2d DCT 45 £1,918 £1,112 £974 £786 Get Quote
M3 M Performance Edition 2d DCT 45 £1,918 £1,112 £974 £786 Get Quote

BMW M3 insurance cost by location

The table above helps you calculate the average cost of BMW M3 insurance based on insurance groups and driver age. However, there are many other factors that affect the car insurance premiums offered to you.

Your home address plays a key role in determining how much you’ll pay to insure your vehicle. To show the power of the postcode, here are some average quotes for a 30-year-old living in three different locations. The quotes are for a BMW M3 Coupe 2d.

  • Expensive: £1,250 (London SE1)
  • Average: £1,080 (Newcastle NE1)
  • Cheap: £814 (Galashiels TD1)

Which factors affect my BMW M3 insurance rate?

Along with insurance group, there are a number of key factors that have a significant impact on how much you’ll pay for car insurance.

  • Engine type and capacity. As a general rule, the larger the engine, the higher the cost of your insurance. For example, it may cost £1,250 for insurance for a BMW M3 Coupe Dakar 2d, while you may pay £1,265 for a BMW M3 Convertible Limited Edition 500 2d DCT.
  • Driver location. Your insurance company will use previous claims data to calculate the likelihood of a driver in your neighbourhood making a claim on their policy. If you live in an area where it’s more common for cars to be stolen or involved in an accident, your premium will rise. For example, a 30-year-old in central London may pay £1,258 for insurance for a BMW M3 Convertible 2d DCT, while the same 30-year-old in Newcastle may only pay £1,096. This £162 difference is based solely on the fact that Londoners are more likely to make a claim on their car insurance.
  • Driver age. The youngest drivers are the most likely to claim on their car insurance, and that’s why they are charged far more. The average 20-year-old driver in London may pay £2,175 for the BMW M3 Coupe Alpine 2d, while the average 40-year-old Londoner will only pay £1,139. In this example, the 20-year-old drivers would have to stump more than £1,000 more per year to insure a BMW M3, and that’s an accurate reflection of their added risk to insurers, based on previous stats.

Other factors that influence the cost of your insurance include the following:

  • Your car’s security and any extra anti-theft precautions
  • Annual miles driven
  • Your driving history and activity
  • Your no claims discount
  • Your marital status
  • Your credit history and job
  • Your car’s safety rating score
  • The model of your car
  • The age of your car

How can I save on my BMW M3 premiums?

Car insurance might be compulsory for those who want to drive their car or even keep it on the road, but there’s no need to let it break the bank. There are plenty of tricks to help you lower your costs, and we’ve listed them below.

  • Limit your car usage (where possible). If you can occasionally walk or use public transport rather than using your car, you may be able to save on your premiums.
  • Pay annually rather than monthly. Some insurers charge interest on monthly payments, so you’re better off paying annually.
  • Install extra safety precautions. When you add extra safety measures to your car, you’ll be deemed to be a lower risk to insurers, which is likely to lower your premium.
  • Don’t blindly accept your renewal quote. Loyalty rarely pays in the car insurance industry! Most insurers save their best deals for new customers, so it’s always worth shopping around for the best deal using price comparison websites.

Bottom line

This is an exciting and effortlessly cool saloon, but you’ll pay way above the average rate to insure it. Thankfully, the tips in this guide will help you cut the cost of your premiums.

Frequently asked questions

*51% of consumers could save £257.97 on their Car Insurance. The saving was calculated by comparing the cheapest price found with the average of the next three cheapest prices quoted by insurance providers on Seopa Ltd’s insurance comparison website. This is based on representative cost savings from January 2021 data. The savings you could achieve are dependent on your individual circumstances and how you selected your current insurance supplier.
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