Online BMW M3 Insurance Rates [Guide + Free Quotes]

The cost of BMW M3 car insurance rates are $1,766 a year, or around $147 a month on average. You can find cheap BMW M3 insurance rates if you are a good driver—Mature drivers with good driving records may find rates as low as $1,038 a year.

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UPDATED: Jun 9, 2022

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Written By: Laura BerryReviewed By: Joel OhmanUPDATED: Jun 9, 2022Fact Checked

Key Takeaways:

  • Full coverage costs around $1,766 a year or $147 each month
  • A liability-only policy costs around $708 a year or $59 each month
  • Highest rates are for teenage drivers at around $6,455 a year or $538 each month
  • Good drivers can save as much as $728 a year by earning policy discounts
  • BMW M3 insurance costs around $247 more per year than the average vehicle

Comparing BMW M3 car insurance rates can be difficult if you don’t know where to begin. On average, BMW M3 rates amount to $1,766 a year for full coverage or $708 a year for minimum coverage. If you want to know details about how BMW M3 insurance rates are determined, feel encouraged to read through this comprehensive guide.

You can start comparing quotes for BMW M3 car insurance rates from some of the best car insurance companies by using our free online tool now.

Table of Contents

BMW M3 Insurance Cost

The average BMW M3 auto insurance rates are $1,766 a year or $147 a month.

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Are BMW M3s Expensive to Insure?

The chart below details how BMW M3 insurance rates compare to other luxury cars like the Mercedes-Benz CLS 550, Jaguar XE, and Lexus IS 350.

Vehicle Comprehensive Collision Liability Total
BMW M3 $406 $804 $398 $1,766
Mercedes-Benz CLS 550 $432 $952 $398 $1,940
Jaguar XE $382 $774 $398 $1,712
Lexus IS 350 $344 $686 $398 $1,586
Audi A4 $332 $656 $398 $1,544
Volvo S60 $332 $656 $398 $1,544
Lexus GS 350 $370 $714 $338 $1,558
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However, there are a few things you can do to find the cheapest BMW insurance rates online.

What Impacts the Cost of BMW M3 Insurance?

You might have noticed that there is a multitude of factors that impact BMW M3 car insurance rates. Your age, location, driving record, and model year all play a role in what you will ultimately pay to insure the BMW M3.

Age of the Vehicle

The average BMW M3 car insurance rates are higher for newer models. For example, car insurance for a 2018 BMW M3 costs $1,766, while 2010 BMW M3 insurance costs are $1,398, a difference of $368.

Model Year Comprehensive Collision Liability Total
2018 BMW M3 $406 $804 $398 $1,766
2017 BMW M3 $394 $784 $416 $1,752
2016 BMW M3 $380 $752 $430 $1,720
2015 BMW M3 $358 $726 $442 $1,684
2013 BMW M3 $332 $634 $456 $1,580
2012 BMW M3 $318 $568 $460 $1,504
2011 BMW M3 $296 $522 $460 $1,436
2010 BMW M3 $286 $490 $464 $1,398
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Driver Age

Driver age can have a significant effect on the cost of BMW M3 car insurance. For example, a 20-year-old driver could pay around $180 more each month for their BMW M3 car insurance than a 30-year-old driver.

Driver Location

Where you live can have a large impact on BMW M3 insurance rates. For example, drivers in Los Angeles may pay $253 a year more than drivers in Houston.

Your Driving Record

Your driving record can have an impact on the cost of BMW M3 auto insurance. Teens and drivers in their 20’s see the highest jump in their BMW M3 car insurance with violations on their driving record.

BMW M3 Safety Features

Most drivers don’t realize that not only do BMW M3 safety features play a vital role in keeping passengers safe in crashes, but they can also help lower BMW M3 auto insurance rates. The BMW M3’s safety features include:

  • Electronic Stability Control (ESC)
  • ABS And Driveline Traction Control
  • Side Impact Beams
  • Dual Stage Driver And Passenger Seat-Mounted Side Airbags
  • BMW Assist eCall Emergency Sos
  • Tire Specific Low Tire Pressure Warning
  • Dual Stage Driver And Passenger Front Airbags
  • Curtain 1st And 2nd Row Airbags
  • Airbag Occupancy Sensor
  • Driver And Passenger Knee Airbag
  • Rear Child Safety Locks
  • Outboard Front Lap And Shoulder Safety Belts -inc: Rear Center 3 Point and Pretensioners
  • Back-Up Camera

BMW M3 Insurance Loss Probability

The BMW M3’s insurance loss ratio varies between different coverage types. While some types of insurance loss ratios are higher for the BMW M3, others are more favorable and lead to lower insurance rates.

Insurance Coverage Category Loss Rate
Collision 202%
Property Damage no data
Comprehensive 86%
Personal Injury no data
Medical Payment no data
Bodily Injury no data
Source: Insurance Institute for Highway Safety
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BMW M3 Finance and Insurance Cost

If you are financing a BMW M3, most lenders will require your carry higher BMW M3 coverage options including comprehensive coverage, so be sure to shop around and compare BMW M3 car insurance rates from the best companies using our FREE tool below.

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Ways to Save on BMW M3 Insurance

If you want to reduce the cost of your BMW M3 insurance rates, follow these tips below:

  • Make Sure You Use an Accredited Driver Safety Program
  • Take a Refresher Course as an Older Driver
  • Choose Automatic Payments or EFT for Your BMW M3 Insurance Policy
  • Reduce Your Coverage on an Older BMW M3
  • Start Searching for New BMW M3 Car Insurance a Month Before Your Renewal

Top BMW M3 Insurance Companies

Who is the top car insurance company for BMW M3 insurance rates? While the actual rates you pay will depend on many factors, here are some of the top companies offering BMW M3 auto insurance coverage (ordered by market share). Many of these companies offer discounts for security systems and other safety features that the BMW M3 offers.

Rank Company Volume Market Share
1 State Farm $65,615,190 9.3%
2 GEICO $46,106,971 6.6%
3 Progressive $39,222,879 5.6%
4 Liberty Mutual $35,600,051 5.1%
5 Allstate $35,025,903 5.0%
6 Travelers $28,016,966 4.0%
7 USAA $23,483,080 3.3%
8 Chubb $23,388,385 3.3%
9 Farmers $20,643,559 2.9%
10 Nationwide $18,442,145 2.6%
Source: Insurance Information Institute
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Compare Free BMW M3 Insurance Quotes Online

You can start comparing quotes for BMW M3 car insurance rates from some of the best car insurance companies by using our free online tool now.

Key Details about the BMW M3
BMW M3 StatisticsDetailsSource
MSRP Range: (2017-2018) Fair Market Range: (2017)$50,778-$67,495
$48,162 - $54,937
Kelley Blue Book
2019 Popularity:
2019 Sales:
Percent difference from previous year:
Ranked 21st
Overall Safety Ratings:Four-door RWD: GoodInsurance Institute for Highway Safety
Number of vehicle thefts (2018)1NHTSA
Average cost of repairs$330YourMechanic
Fatality rates for vehicle's size groups8.4 Per 100 insured vehicle yearsInsurance Information Institute
Frequency of claims (passenger cars and minivans)8.4 per 100 insured vehicle yearsInsurance Information Institute
Comprehensive rate average$406Quadrant Information Services
Liabilty rate average$398Quadrant Information Services
Collision rate average$804Quadrant Information Services
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Getting a new car can be exciting, but shopping for car insurance never is. BMW car insurance can be expensive thanks to the brand’s luxury status. If you’re wondering how much BMW M3 car insurance costs, this is the place for you.  Don’t worry about scouring the internet because we’ve compiled everything here.

We’re going to dig into BMW M3-related statistics, from insurance rates to vehicle safety. If you are looking for vehicle MSRP, repair costs, or theft rates, continue reading the sections below.

You can use our free tool above to get a quote on your BMW M3 (or just M3, as it’s commonly known).

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Does the frequency of claims filed on BMW M3 affect car insurance rates?

It’s important to know the average number of claims filed on a given vehicle model. In fact, knowing these stats can help you make a better decision when buying a new vehicle.

Car Insurance Claims Frequency for Passenger Cars and Minivans
Car TypeClaim FrequencyClaim SeverityOverall Loss
Passenger cars and minivans8.4$5,949$501
All passenger vehicles7.3$6,005$438
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The figures above show how many claims are filed on small cars versus all vehicles. As you can see, more claims are made on small cars.

While the claim rate for passenger cars and minivans is 8.4 per 100 insured vehicle years, that number is 7.3 for all other vehicles. More claims for smaller vehicles also correlates with more overall losses for smaller vehicles.

Although the claim severity for passenger cars and minivans costs less money than all vehicles, pay attention to claim frequency. The number of claims made directly impacts what an insurer must payout, leading to higher premiums in the long run.

To understand what this means, consider that stats in this section will always be for used vehicles (2016-2018). People who are buying newer models of the M3 will report their claims and premiums at a later date, making it impossible to track their data.

To give you a better understanding of personal auto coverages, we’ve included the below video. A few basics will be covered here.

Wondering about your minimum liabilities as a BMW M3 owner? The good news is, you can easily find your state’s liability laws. If you purchasing your vehicle outright, minimum coverage will suffice legally. A financed car often requires comprehensive insurance.

The way in which you purchase your vehicle changes the type of coverage you need, so pay close attention to the table below.

BMW M3 Average Monthly Car Insurance Rates by Coverage Type and Model Year
Model Year
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As shown in the table, collision coverage has the most expensive rates for all model years of the M3. If you fall into the category that needs comprehensive coverage, you’re likely to pay 12 percent less than you would for liability.

How does the size and class of the BMW M3 affect liability car insurance rates?

According to the Insurance Information Institue, the BMW M3 (or 3-series) is a midsize luxury car and four-door sedan. Midsize luxury cars are one size up from what small cars. Other makes of midsize luxury vehicles are listed on, and we have provided these models below.

  • Acura TLX four-door
  • Audi S5 four-door 4WD hatchback
  • Cadillac ATS four-door
  • Lexus ES 300h hybrid four-door
  • Mercedes-Benz C class two-door
  • Tesla Model 3 electric four-door
  • Volvo S60 Cross Country four-door 4WD

If you have seen any of these vehicles before, you may notice that they are all four-door sedans. While Audi offers a luxury hatchback for outdoor-lovers, Tesla provides an environmentally-conscious vehicle. Luxury vehicles are known for their extra features and safety.

How exactly do midsize luxury sedans protect you in an accident? Well, according to the Insurance Institute for Highway Safety (IIHS), there happen to be several factors that influence car safety.

First, size affects how a vehicle responds in an accident. The more length on a vehicle’s front end, the lesser the impact on the front-seat passengers. Consider the following scenario.

A compact car and an old scool Cadillac get into an accident. While the Cadillac’s front end has room to crunch before the accident harms the driver, the mini car’s driver is more vulnerable.

Just as longer vehicles have more crash protection, a heavier vehicle will also sustain less damage from an accident. In recent years, the frames of heavier vehicles have been modified to fold, lessening their impact on lighter vehicles.

Amongst talk of premiums and coverage types, the most valuable asset is yourself. In the advent of an accident, you will want to be sure that yourself and others are protected.

Bodily injury liability covers the other person’s injuries if you are found at fault in a car accident. Of the two types of liability insurance, this form of liability keeps you from having to pay for the other party’s medical bills out-of-pocket.

Medical losses are often incurred if you get into an accident. To see how the BMW M3’s bodily injury losses look compared to other vehicles of the same class, check out the relevant data below.

Midsize Luxury Sedan Bodily Injury Losses
Vehicle Make and ModelBodily Injury Losses
Acura TLX four-door-10%
Audi A3 four-door14%
Audi A3 four-door 4WD-28%
Audi A4 four-door-24%
Audi A4 four-door 4WD-41%
BMW 3 series four-door-3%
BMW 3 series four-door 4WD-8%
BMW 4 series two-door14%
BMW 4 series four-door-16%
BMW 4 series convertible-28%
Cadillac ATS four-door18%
Infiniti Q50 four-door28%
Infiniti Q50 four-door 4WD-9%
Lexus ES 300h hybrid four-door-4%
Lexus ES 350 four-door-23%
Lexus IS 300 four-door 4WD-13%
Lincoln MKZ four-door-6%
Lincoln MKZ hybrid four-door-3%
Mercedes-Benz C class four-door-4%
Mercedes-Benz C class four-door 4WD-16%
Mercedes-Benz CLA class four-door-2%
Tesla Model 3 electric four-door-45%
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To give you an idea of ranges, a loss percentage from -20 to 20  represents the average range, while anything above 25 percent is considered poor.  BMW has a range of -28 to 14 percent, and the 3 series was -3 percent.

How is this reflected in your premiums? We’ve pulled actual quotes from Geico for this, based upon a 35-year-old female driver in Tennessee with no accidents on their record. These are for a 2018 BMW 3 series four-door.

Geico Average BMW M3 2018 Liability Car Insurance Rates by Coverage Level
Level of Bodily Insurance
Liability Coverage
Total Rates
Low ($30,000-$60,000)$1,280.70
Medium ($100,000-$200,000)$1,316.03
High ($250,000-$500,000)$1,318.59
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Notice the wide ranges listed for coverage limits. If you opt for the highest coverages, your limits could reach $500,000. For low coverage, the first number ($30,000) is the total coverage for any one person involved in the accident. The second number ($60,000) is the total limit for any one accident.

You’ll notice there are two very different numbers listed here for coverage limits. The first number, for example, $30,000 in the low level of coverage — is the total coverage for any one person involved in the accident. The second number ($60,000) is the total limit for any one accident.

For your M3, the monthly payment will be between $106 and $224 —  depending on your bodily injury coverage.

Property damage liability is a term that refers to one’s coverage and how much it will pay out for someone else’s car or property. Don’t forget it covers other oddities, like trees, lamp posts, and office buildings that may have been damaged by your vehicle.

Here’s how the M3 and other midsize luxury vehicles stack up. Lower negative numbers indicate above-average loss payments, while columns that are positive range and above 20 are below average.

Midsize Luxury Cars Property Damage Liability Losses
Vehicle Make and ModelProperty Damage
Liability Losses
Acura TLX four-door-7%
Alfa Romeo Giulia four-door-20%
Audi A3 four-door-2%
BMW 2 series two-door-20%
BMW 2 series convertible-25%
BMW 2 series convertible 4WD-40%
BMW 3 series four-door-2%
BMW 3 series four-door 4WD-5%
BMW 3 series plug-in hybrid four-door5%
BMW 3 series station wagon 4WD-23%
BMW 4 series two-door-15%
BMW 4 series two-door 4WD-4%
BMW 4 series four-door-6%
BMW 4 series four-door 4WD-13%
BMW 4 series convertible-30%
BMW 4 series convertible 4WD-15%
BMW M2 two-door-61%
BMW M3 four-door-21%
BMW M4 two-door0%
BMW M4 convertible5%
Cadillac ATS-V four-door-43%
Infiniti Q50 four-door11%
Jaguar F-Type four-door-35%
Lexus IS 350 four-door 4WD-39%
Lincoln MKZ four-door 4WD-21%
Mercedes-Benz C class two-door-13%
Mercedes-Benz C class two-door 4WD-1%
Mercedes-Benz C class four-door-10%
Mercedes-Benz C class four-door 4WD-10%
Mercedes-Benz C class AMG two-door 4WD-45%
Tesla Model 3 electric four-door-38%
Tesla Model 3 electric four-door 4WD-67%
Volvo S60 four-door-21%
Volvo S60 four-door 4WD-19%
Volvo S60 Inscription four-door-41%
Volvo S60 Inscription four-door 4WD-38%
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Luxury models tend to do better than standard brands. The BMW models range from an excellent -61 percent to five percent. The M3 model has a loss percentage of -21 percent for property damage liability, which is better-than-average.

Of all midsize luxury vehicles, the Tesla Model 3 electric four-door 4WD has the best loss percentage, as -67 percent is in the excellent range.

Insurance losses are a key indicator of what your own losses may look like. To protect yourself in an accident, it’s important to have an idea of claims for damages.

What is the MSRP of the BMW M3?

Buying a vehicle is no small task. Aside from making a huge investment, you are also expected to shop around for value. Finding the best value for your BMW M3 doesn’t have to be difficult, however. But what exactly does MSRP mean?

MSRP stands for Manufacturer’s Suggested Retail Price. In other words, this is the sticker price on a vehicle.

Since we are covering the BMW M3, you may be wondering what you’d pay for a brand new base model. Since BMW has discontinued the M3 after 2018 (and will be releasing new 2021 models soon) we will be using the 2020 3-series to fill in the gaps.

Sometimes the MSRP is unavailable for older models, so we cab refer instead to the current price ranges, or fair market value. This range is determined by Kelly Blue Book, which bases the range on what people would be expected to pay for a vehicle. Most of this number is determined by factors like supply and demand, market changes, and recent sales.

BMW 3-Series/M3 Base Model Changes in MSRP and Fair Market Range (FMR)

Model YearFour-Door Sedan
2020 3-series
MSRP: $54,995
FMR: $47,938 - $52,371
2019 3-seriesMSRP: $46,395
FMR: $40,563 - $44,430
2018 (M3)FMR: $52,105 - $59,440
2017 (M3)FMR: $48,114 - $54,951
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As you can see in the table above, the fair market ranges for the 2017 and 2018 M3 models are greater than the fair market ranges of the current 3-series. To know the MSRP of the new M3, you will have to wait until 2021.

The way it works is that if you are financing your vehicle, your lender is probably going to require you to have full coverage insurance. Full coverage insurance will allow the financier to secure their assets, were you to get into an accident.

If you don’t purchase enough insurance for your lender’s requirements, they may end up getting what’s called force-placed insurance. This is enforced by the lender and covers their end. It may be wise to purchase your own liability coverage.

If you don’t find it necessary to follow through with high coverage, you may be considered a high-risk driver. This could drive up your rates.

Even if you purchased your vehicle in full and with cash, it is still a great idea to get yourself liability coverage. Even if you don’t get comprehensive coverage, at the very least, collision will help you in the long run, especially if you need to file a claim or have an accident.

How does the MSRP of the BMW M3 affect collision car insurance rates?

Collision coverage is a fancy way of saying that you’re covered from wrecks involving another vehicle or object. For example, if you total your car in an accident involving a tree, the damages to your vehicle will still be covered.

Another option for coverage is liability coverage, which is basic minimum coverage. If you damage your own car (with no one else involved) you may need a higher level of coverage. That’s why collision coverage is the best way to protect yourself and your car.

The rates for all coverage levels will be higher the more expensive your car is. For the luxury BMW lines, you can expect pricier rates.

The table below is a perfect example of this principle. Seeing the difference between model years can also give you some perspective.

Average Annual BMW M3 Collision Car Insurance Rates
Model YearAverage Collision Rates
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You may have noticed that there is no data for the 2014 BMW M3. This is because the maker did not release a version that year. The rates for collision coverage, however, show a steady trend of increasing over 5 years.

You may also notice the rates are lower for older cars. That’s because it costs less for the insurer to cover damages from a car that has depreciated in value. Insurers won’t cover more than what a vehicle is actually worth.

Collision car insurance is one way to protect yourself if you get into an accident with a foreign object. The video below describes how this type of insurance works.

Collision insurance covers the damages to your vehicle no matter who caused the accident. It differs from liability, which pays for the medical bills or property damages incurred by the other party. However, liability coverage does not cover damage done to your vehicle.

Consider this scenario: You’ve just bought your new BMW M3, and now have the hottest car on the block. After tweeting a photo of you and the new car, you’re ready to rake in the likes. Driving down the road and listening to your favorite music, nothing could go wrong.

Then, traffic suddenly comes to a halt on the highway. You slam on the brakes, avoiding contact with the line of traffic in front of you. Two seconds later, you feel the impact from being rear-ended by an uninsured driver. This happens more often than you may think, with 13 percent of motorists taking to the roads while uninsured.

Depending on your coverage type, you could be responsible for paying for the damages to your car — even if the accident wasn’t your fault.

But how does the M3 stack up against other cars in its class? Take a look at how it compared from 2016 to 2018. You can use the search to see how specific cars compare to the M3.

BMW 3-Series Collision Car Insurance Rates Compared to Similar Cars
Vehicle Make and ModelCollision Rate Difference
Acura TLX four-door2%
Alfa Romeo Giulia Quadrifoglio four-door358%
Audi A3 four-door 4WD30%
Audi S4 four-door 4WD99%
BMW 3 series four-door40%
BMW 2 series four-door14%
BMW 4 series two-door66%
Cadillac ATS two-door28%
Cadillac ATS-V two-door92%
Infiniti Q50 four-door78%
Jaguar F-Type two-door108%
Lexus ES 350 four-door30%
Lincoln MKZ four-door17%
Lincoln MKZ hybrid four-door48%
Mercedes-Benz C class two-door79%
Mercedes-Benz C class two-door231%
Tesla Model 3 electric four-door26%
Volvo S60 Cross Country four-door 4WD-34%
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These numbers show what the loss percentages are (either above or below the average) for all luxury midsize vehicles. The rates here range from -34 to 358 percent. Numbers in the negative range indicate more money paid out.

The base model BMW 3-series had an 40 percent collision insurance loss, which is substantially worse than average.

The car that performs best in the collision losses category is the Volvo S60 Cross Country four-door 4WD, with -34 percent losses. Other vehicles in the luxury category have high-cost repairs, mainly because their parts are much more expensive than most cars.

How does the MSRP of the BMW M3 affect comprehensive car insurance rates?

Now that we’ve covered collision insurance, let’s delve into the effects of MSRP on comprehensive car insurance rates.

Comprehensive car insurance is a term describing the full breadth of car insurance coverage. For example, comprehensive covers claims damages acquired from just about any accident or natural disaster: fires, floods, theft, or deer running in front of your car.

As a vehicle owner, it’s best to expect the unexpected. You can’t always count on things to go your way. The following video explains the ways in which comprehensive coverage is helpful to add to your policy.

We’ve compiled data on the model years of the BMW M3, and filled in the gaps with the 3-series. They have assumed the same parameters as the previous section. Hopefully, seeing how the suggested retail prices can influence your rates will allow you to paint a bigger picture.

Average Annual BMW M3 Comprehensive Car Insurance Rates
Model YearAverage Comprehensive Rates
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As a vehicle gets older, it depreciates in value. This is reflected in insurance as well.  What about compared to other “midsize luxury” cars? Use the search box to explore specific models.

BMW M3 Comprehensive Car Insurance Rates Compared to Similar Cars
Vehicle Make and ModelComprehensive Losses
Acura TLX four-door-3%
Alfa Romeo Giulia Quadrifoglio four-door117%
Audi A3 convertible 4WD-31%
Audi A5 four-door 4WD hatchback-55%
BMW 2 series convertible 4WD-40%
BMW 3 series four-door-2%
BMW M2 two-door-61%
Cadillac ATS-V four-door-43%
Infiniti Q60 two-door 4WD-12%
Jaguar F-Type two-door-35%
Lexus IS 300 four-door-37%
Lincoln MKZ four-door 4WD-21%
Mercedes-Benz C class two-door-13%
Tesla Model 3 electric four-door26%
Volvo S60 four-door-5%
Volvo S60 Inscription four-door 4WD-38%
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With losses ranging between -61 and 117 percent for 2016 to 2018, the base BMW 3-series has a comprehensive loss of -2 percent, which is considered to be average.

Just like other forms of insurance, comprehensive rates go up the newer and more expensive the vehicle. Costs jump if there’s a high loss rate for the vehicle (over 20 percent) as that indicates to the insurer that you’ll be more likely to file a claim.

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What are the theft rates of the BMW M3?

The M3 doesn’t rank among the top stolen vehicles of 2017, according to a study by the NHTSA. See the top 10 stolen vehicles below.

  1. Honda Civic
  2. Honda Accord
  3. Chevrolet Silverado
  4. Toyota Camry
  5. Ford F150
  6. Nissan Altima
  7. Toyota Corolla
  8. Ford F250
  9. Ford Ecoline
  10. Honda CR-V

Although the BMW M3 doesn’t appear on this list, the NHTSA still provides information on annual theft rates for the vehicle. According to their theft rate search engine, only one M3 was reported as stolen in the records. The last recorded year was 2013.

How do theft rates of the BMW M3 affect comprehensive car insurance rates?

Theft rates may vary between urban and rural areas. Based on studies by the National Crime Justice Reference Service, vehicle thefts are more common in areas of highly concentrated rental housing. Similarly, crime rates are higher in areas with industrial and manufacturing land use.

The M3 is considered to be a luxury vehicle, making it more desirable for thieves. Vehicle theft rates do change based on location, of course. Check out the video below, which talks about the top vehicle theft hot-spots in the country.

We know that it’s riskier to leave your car to park in a rural area than an urban area. It’s also important to know that your rates depend on your location. That’s partially due to vehicle theft. If you live in a ZIP code with high rates of theft and vandalism — bad news. This fact may be reproduced on your insurance bill.

How much will it cost to repair my BMW M3?

An investment as big as a luxury vehicle certainly warrants additional expenses. One of these is the general upkeep and maintenance of your new vehicle. Getting to know which routine repairs you may need is one way to budget out these expenses. 

Now that you’ve set yourself up with decent insurance, it’s time to imagine what would happen if you were to get into an accident. Let’s say you’re t-boned at an intersection by somebody who was eating and driving. Unless you’ve sustained serious injuries, you will have to move forward and get your vehicle back in shape.

RepairPal lists the average cost of repairs for a BMW M3 is $1,161 indicating poor ownership costs. It has the second-to-last most expensive repairs out of all luxury midsized cars.

The number above includes maintenance such as oil changes. In the table below, we have compiled various repairs that you may confront if you own a BMW M3.

Average Costs for Common BMW M3 Repairs
RepairAverage Cost
Air Conditioning Refridgerant Cover$35-$45
Exhaust Manifold Gasket Replacement$527-$657
Oil Pressure Sensor Replacement$62-$93
Oil Pump Replacement$1,775-$1,943
Pre-Purchase Car Inspection$105-$134
Starter Replacement$449-$766
Timing Chain Tensioner Replacement$240-$273
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The above table shows some of the most common repairs for your M3. These cost between $35 and $1,943, a remarkable range. The next topic is the common repair costs for isolated damages, such as your tail end or bumper.

If one section of your vehicle has been damaged severely, a full section may need to be replaced. Another factor is that repair prices can also change based on paint supplies. If a garage has to order a specific hue from the manufacturer, that can increase your prices as well.

That said, be aware that insurers will often charge more if the car is going to cost more to repair. In order to cushion these inflated costs, your insurance company will likely charge you for higher premiums.

Remember that as your car gets older, your rates should go down. This is in part due to depreciation.

If you already have an older M3, you may want to think about whether full coverage is really worth the higher premiums. Be aware that your insurance company will only ever pay up to what your car is worth, and that may not be much once your BMW M3 Civic has aged a bit.

How does the cost of repairs affect collision and comprehensive car insurance rates?

Uninsured motorists can wreak havoc on your own end of the bill; you may never see the end of these costs. That’s where collision coverage comes into play. It’ll help pay for any damages that come from a collision with another vehicle or object — regardless of fault.

Damage not from a collision with another vehicle? The good news is, comprehensive coverage protects you from freak accidents like falling trees, floods, and even collisions not involving another vehicle.

Insurance companies will almost always charge you more if your vehicle is luxury and new. New car parts simply cost more, and mechanics aren’t always familiar with new/luxury models. They will want to be compensated for this extra labor.

Other Car Insurance Coverage Rates for the BMW M3

Now that we’ve covered the principles of insuring your vehicle, it’s time to tackle how the safety ratings of the M3 can change specific car insurance rates. For both Personal Injury Protection

How do safety ratings of the BMW M3 affect Personal Injury Protection (PIP) car insurance rates?

Personal Injury Protection insurance (or PIP) is required by some states, though you can add it to any policy. It’s an additional tool you can use to bouy up your policy, regardless of who is at fault.

PIP is there to cover the medical bills and funeral expenses that may arise from an auto accident. This aids the families involved by taking care of the worrisome costs, which are inherent with a fatal or near-fatal accident.

BMW M3 PIP Car Insurance Rates Compared to Similar Cars
Vehicle Make and ModelPersonal Injury Protection
Rate Difference
Acura TLX four-door-3%
Audi A3 four-door 4WD-16%
Audi A4 four-door 4WD-40%
Audi A5 four-door 4WD hatchback-52%
Audi S3 four-door 4WD-25%
BMW 3 series four-door0%
BMW 4 series convertible 4WD-49%
Cadillac ATS four-door4%
Infiniti Q50 four-door 4WD21%
Jaguar XE four-door-8%
Lexus ES 300h hybrid four-door-20%
Lincoln MKZ four-door-3%
Mercedes-Benz C class two-door3%
Mercedes-Benz C class AMG four-door 4WD-24%
Tesla Model 3 electric four-door-56%
Volvo S60 four-door 4WD-31%
Volvo S60 Inscription four-door-25%
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Other car models in the same midsize, luxury had PIP losses ranging from -61 percent to 20 percent. For the 2016 to 2018 time frame, the PIP loss for BMW M3s was 0 percent. That’s rated as average.

Because midsize luxury cars are designed better, if you get into an accident, you may have features that better protect you from injury. An investment in a safer, well-equipped vehicle can save your life in the long run.

How do safety ratings of the BMW M3 affect Med Pay car insurance rates?

These numbers (and those for PIP) represent claim frequencies only and do not factor in payment per claim. So, the exact numbers for how much money is paid out through these claims is a set of different numbers.

Medpay stands for the additional insurance you can purchase to help cover your medical expenses. Unlike PIP, MedPay doesn’t typically have a deductible. When considering Medpay, you may want to see how it applies to your own vehicle class.

BMW M3 MedPay Car Insurance Rates Compared to Similar Cars
Vehicle Make and ModelMedical Payment
Rate Differences
Acura TLX four-door5%
Audi A3 four-door 4WD-27%
Audi A4 four-door 4WD-42%
BMW 3 series four-door7%
BMW 3 series four-door 4WD-17%
Cadillac ATS four-door27%
Infiniti Q50 four-door69%
Lexus ES 300h hybrid four-door73%
Lincoln MKZ hybrid four-door24%
Mercedes-Benz C class four-door40%
Tesla Model 3 electric four-door-50%
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The table above shows Medpay losses for midsize, luxury cars. These range from -50 to 73 percent. The BMW 3-series 4 door model had a loss percentage of 7 percent, which is considered to be average.

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History of the BMW M3

The BMW M3 was first developed in 1986 as a modified version of a street-legal car. The result was a high-performance, racing version of the 3-series.  Ever since, new models have been produced for each generation, making the M3 an iconic sports vehicle.

Among car enthusiasts, the BMW M3 is often lovingly referred to as simply, the “M3.”

Although the M3 series was last produced in 2018, BMW is planning to release a new 2021 model in mid-2020. Previous versions of the M3 have included coupes, convertibles, and even a pick-up at one point.

Want to know more about the history of the BMW M3? Look no further than the informative video below.

A popular car among gearheads, BMW sells nearly 50,000 of them every year. See for yourself by taking a look at the totals sold.

  • 2019 calendar year: 47,827 cars
  • 2018 calendar year: 44,578 cars

Between 2018 and 2019, sales increased by 7.29 percent, which is a difference of 3,249 vehicles. Numbers as significant as these prove the M3 is not only a niche vehicle but a sought-after item in American car culture.

While the vehicle had a spike in popularity from 2018-2019, the car has been a mainstay for over 30 years. The M3 is the 101st most popular model on the U.S. vehicle sales list.

What are the safety features of the BMW M3?

Automobile companies are light years away from the clunky, hazardous designs of the past. New incentives have pushed car companies to innovate, which works in the consumer’s favor. We now have cars that are safer than ever before.

The M3 has safety upgrades that make it cost-effective in the long run. Safety features can even lower premiums. The following features are standard for the BMW M3’s base model:

  • Anti-lock brakes (ABS) which sense when a tire has stopped rotating during extreme braking.
  • Stability control which aids a driver when the vehicle’s system is overwhelmed.
  • Front-impact airbags serve the driver and front-seat passengers in a head-on collision.
  • Side impact airbags serve the front seat passengers during a side-impact collision.
  • Overhead airbags keep the passengers’ heads from being injured in side-impact collision or rollover.
  • Knee airbags keep the passengers’ lower limbs safe from severe impact.
  • Pretentioners automatically tighten seatbelts in the advent of a collision.
  • Security system alerts if necessary to keep intruders from entering and/or stealing the vehicle.

The M3’s security system features make it a candidate for lower rates. Insurance companies also reward vehicles that include more than one simple airbag system and anti-lock braking systems. They take these safety features into account and adjust their customers’ rates. `

According to Motor Trend, The BMW M3 is considered a high-performance sports vehicle. The performance features are as follows:

  • The 2018 BMW M3 is powered by a 3.0-liter twin-turbo I-6 rated at 425 hp and 406 lb-ft of torque.
  • A six-speed manual is standard and a seven-speed dual-clutch automatic is optional.

While performance upgrades don’t directly contribute to your safety, they can increase the driving experience. Other safety ad-ons, however, can help you save on your BMW insurance rates.

Let’s dig into the safety ratings of BMW M3s — a highly important factor for nearly all drivers.

What are the safety ratings of the BMW M3?

Ever wonder if you would fare better than those crash test dummies used to test vehicles? The Insurance Institute for Highway Safety, or IIHS, releases comprehensive ratings for your make and model each year.

Vehicles are required to undergo crash tests in order to be rated for safety. The video below demonstrates a BMW 3 series crash test.

What exactly do these ratings mean?

Ratings are categorized into four groups, good, acceptable, marginal, and poor. The vehicles are rated for the number of driver injuries sustained. So, if a crash test dummy breaks both legs, the vehicle may receive a marginal or poor rating.

BMW 3-Series Crash Protection Rating
CrashworthinessFour-Door SedanTwo-Door Convertible
Driver-side small overlap frontGoodGood
Passenger-side small overlap frontGoodN/A
Moderate overlap frontGoodN/A
Roof strengthGoodN/A
Head restraints & seatGoodN/A
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While there is currently no comprehensive data on the BMW M3, we do have data for its close cousin, the 3-series. When testing for safety, a vehicle’s unique design must always be taken into account. For example, the 2-door convertible 3-series does not have a roof strength because it does not have a roof.

The four-door 3-series had a solid safety performance, getting “Good” ratings in all categories.

We can agree that not having a crash in the first place is better than surviving a crash. So, by which methods are crash avoidance and mitigation features rated?

BMW M3 Crash Avoidance and Mitigation Ratings
Crash Avoidance and MitigationFour-Door Sedan
Headlights (varies by trim and color)Good
Front crash prevention (vehicle to vehicle)Superior
Pedestrian protection by trim level(s)Superior-Advanced
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IIHS rated the 3-series four-door sedan for the above categories. For headlights, the safest trim level received a superior rating. For front-crash vehicle protection, it earned a superior rating. The two levels for pedestrian crash prevention earned superior and advanced ratings, respectively.

There were no categories in which the M3 fared very poorly, mainly due to its already luxury status and high-quality features.

How does the safety of BMW M3 compare to other vehicles of the same size and class?

Driver death rates have declined significantly over the years. Since 1978, the death rates for each vehicle type have been documented and used to improve driver safety. The M3 is considered a midsized vehicle.

The BMW M3 belongs to the luxury sedan vehicle class. To give you a better idea of this class, we have included a video that shows a few other vehicles of the same class.

A few of the makes and models within this category are the Mercedes Benz E 450 and Lexus ES. Below, our table shows the ownership and fatality data for vehicles that are classified as “ midsize.”

Midsize Car Fatality Rate
Registered VehiclesDeathsRate
(per million vehicles)
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In 2018, there were nearly 10 million small vehicles registered that were one to three years old. There were 396 deaths, a statistic second only to small cars (427 deaths).

According to IIHS, the fatality rate was 41 per one million people, making midsize the second-deadliest vehicle class for driver death rates. The greatest number of driver deaths per one million people occurred for small vehicles, with a rate of 54.

Surprisingly, the average for all passenger vehicles was just 36 per million though, which includes SUVs and pickups.

You may be aware of the terms head-on crash, t-bone, or even rear-ended. The truth is, the front, sides, and back end of a vehicle respond differently when withstanding different crashes.

Fatality rates are different based on where the initial impact occurred in the crash. Take a look below for an in-depth view of these rates.

Fatalities by Car Impact Point
Point of
Initial impact
Car Occupant
All Occupant
FrontNumber of deaths: 7,433
Percentage of total: 57%
Number of deaths: 12,932
Percentage of total: 56%
SideNumber of deaths: 3,568
Percentage of total: 27%
Number of deaths: 5,350
Percentage of total: 23%
RearNumber of deaths: 834
Percentage of total: 6%
Number of deaths: 1,310
Percentage of total: 6%
(Mostly Rollover)
Number of deaths: 1,303
Percentage of total: 10%
Number of deaths: 3,299
Percentage of total: 14%
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Both cars and all vehicles, collectively, experience the most deaths from frontal crashes. Over half of the total number of deaths happen when a collision involves the front end of a vehicle. Further analysis shows that side crashes have the second-greatest number of fatalities.

Considering how far we’ve come with vehicle safety, it’s no surprise the fatalities have decreased dramatically in the last few years. The table below shows this trend in numbers.

10-Year Trend in Car Fatalities
YearDriver Deaths
(per million)
All Passenger Deaths
(per million)
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Between 2008 and 2018, fatalities dropped by a quarter, or 25 percent. Now that we’ve covered fatality statistics for the M3, let’s touch upon retail values and theft rates.

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Frequently Asked Questions: BMW M3

Covering most topics surrounding the BMW M3 is like a long-winded conversation. But, we know that these topics are valuable for you and your insurance search. Which topics did we miss in our guide? Below are some FAQS to help you to fill in the gaps.

#1 – What kind of gas mileage do BMW M3s get?

The BMW M3 has gas mileages of 17 MPG city and 25 MPG on the highway.

#2 – Is BMW m4 insurance cost higher?

That depends on factors like the year and trim level as well as driver factors such as tickets and accidents. BMW insurance cost varies a lot.

#3 – Is the BMW M3 considered a high-risk car?

Insurers weigh many variables when deciding the amount for an auto insurance policy.

Edmunds bills the BMW M3 series as “the best performance machine money can buy.” All three body styles come standard with a 414 horsepower, V8 engine, and are widely believed to be the standout in luxury motorsports.

Luxury performance cars are often the target of vehicle thieves, thereby increasing the probability that the insurance company will be required to pay out a claim.

#4 – Would I be able to get a lower rate if I chose a used BMW M3?

When looking for BMW M3 car insurance costs, you may be able to get a lower rate if you choose a used BMW because new cars are more likely to be stolen and are generally more expensive to repair. BMW also offers a signature Ultimate Service plan standard with every new M3. This warranty plan covers the vehicle for four years or 50,000 miles, whichever comes first.

Your best bet is, when you find a used BMW M3 for sale, to get insurance quotes before you buy.

#5 – What can I do to get a better insurance rate?

Take a driver’s education course, keep a clean record, improve your credit score (drivers with better credit scores tend to be more responsible and therefore cheaper to insure) and look for discounts. You can also ask for any discounts the insurance provider may offer, such as student, multi-policy, and low mileage discounts are all accessible if you meet the criteria. Just ask your provider.

And of course, compare rates from different companies. A Geico quote is not always cheaper than a State Farm quote, so get as many rates as you can.

The BMW M3 is a luxury performance car. It seems to be as comfortable running errands as it does racing. Rates for this car are reflective of its stature, but research and a concerted effort can help you to save on insurance expenses.

To find out how much you can save on BMW M3 car insurance costs, compare quotes for FREE by entering your ZIP code at the bottom of the page now!

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Written by Laura Berry
Former Insurance Agent Laura Berry

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 has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP® Joel Ohman

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