Cheap BMW M3 Car Insurance in 2024 (Check Out the Top 10 Companies)
Affordable BMW M3 car insurance is best obtained from Allstate, Farmers, and Progressive, with monthly rates starting at $135. These providers are top choices because of their competitive rates, comprehensive coverage options, and outstanding customer service for BMW M3 insurance.
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Brad Larson
Licensed Insurance Agent
Brad Larson has been in the insurance industry for over 16 years. He specializes in helping clients navigate the claims process, with a particular emphasis on coverage analysis. He received his bachelor’s degree from the University of Utah in Political Science. He also holds an Associate in Claims (AIC) and Associate in General Insurance (AINS) designations, as well as a Utah Property and Casual...
Licensed Insurance Agent
UPDATED: Jun 15, 2024
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UPDATED: Jun 15, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Company Facts
Min. Coverage for BMW M3
A.M. Best Rating
Complaint Level
Pros & Cons
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![Company Logo](https://res.cloudinary.com/davv1zwbo/image/upload/v1716455095/uw91eryfwzz9ry52kaxm.png)
Company Facts
Min. Coverage for BMW M3
A.M. Best Rating
Complaint Level
Pros & Cons
![Company Logo](https://res.cloudinary.com/davv1zwbo/image/upload/v1716455095/uw91eryfwzz9ry52kaxm.png)
![Company Logo](https://res.cloudinary.com/davv1zwbo/image/upload/v1716578167/sxwrzdmqlxuz1xqgbzzw.png)
Company Facts
Min.Coverage for BMW M3
A.M. Best Rating
Complaint Level
Pros & Cons
![Company Logo](https://res.cloudinary.com/davv1zwbo/image/upload/v1716578167/sxwrzdmqlxuz1xqgbzzw.png)
Car insurance is a necessary expense for all vehicle owners, and it’s important to understand the factors that can influence the cost of insurance for specific car models. For owners of a Cheap BMW M3 car insurance, it’s natural to wonder about the cost of insuring this high-performance vehicle.
In this article, we will delve into the various aspects that determine BMW M3 car insurance rates, provide tips for finding affordable insurance, debunk common myths about insurance rates, and offer insights into different insurance coverage options for BMW M3 owners.
Company | Rank | Monthly Rates | A.M. Best | Best For | Jump to Pros/Cons |
---|---|---|---|---|---|
![]() | #1 | $48 | A | High Coverage | AIG |
![]() | #2 | $50 | A++ | Military Discounts | USAA |
![]() | #3 | $52 | A+ | Snapshot Program | Progressive |
![]() | #4 | $53 | A++ | Hybrid Discounts | Travelers |
![]() | #5 | $54 | A+ | Comprehensive Policies | Erie |
![]() | #6 | $55 | B | Multiple Discounts | State Farm |
![]() | #7 | $56 | A+ | Vanishing Deductible | Nationwide |
![]() | #8 | $57 | A | Competitive Pricing | American Family |
![]() | #9 | $58 | A+ | Safe Driving | Allstate |
![]() | #10 | $60 | A | Customizable Policies | Liberty Mutual |
This article explores this top picks and the factor influencing the insurance cost for your Cheap BMW M3 Car Insurance get the car insurance at the best price — enter your ZIP code above to shop for cright overage from the top insurers.
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Factors Influencing BMW M3 Car Insurance Rates
When calculating the cost of car insurance for your BMW M3, various factors are considered. These include your age, driving history, location, credit score, the model year of your BMW M3, and the coverage level you select.
Insurance Company | Minimum Coverage | Full Coverage |
---|---|---|
AIG | $48 | $135 |
Allstate | $58 | $153 |
American Family | $57 | $151 |
Erie | $54 | $142 |
Liberty Mutual | $60 | $155 |
Nationwide | $56 | $148 |
Progressive | $52 | $145 |
State Farm | $55 | $150 |
Travelers | $53 | $143 |
USAA | $50 | $140 |
Younger drivers might face higher premiums due to being deemed higher risk. Moreover, a record of accidents or traffic violations can lead to increased insurance rates. Your location can also affect insurance costs, with higher premiums likely in areas with elevated crime or accident rates. Finally, newer BMW M3 models may incur higher insurance costs because of their greater value and repair expenses.
Understanding the Insurance Coverage Options For BMW M3
When insuring your BMW M3, you can choose from several coverage options. These typically include liability coverage, collision coverage, comprehensive coverage, uninsured/underinsured motorist coverage, and medical payments coverage. Liability coverage, required in most states, covers damages to others’ property or injuries if you’re at fault in an accident.
Tips for Finding Affordable Car Insurance for a BMW M3
While insuring a high-performance car like the BMW M3 can be costly, there are ways to find more affordable insurance rates. Shopping around and comparing quotes from various insurers can be very effective, as different companies weigh factors differently, resulting in significant price differences. Additionally, keeping a clean driving record, bundling your car insurance with other policies, opting for higher deductibles, and utilizing available discounts can help reduce premiums.
Exploring specialized insurance options for high-performance vehicles like the BMW M3 is also advisable, as these providers may offer customized coverage and competitive rates.
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Common Myths About BMW M3 Car Insurance Rates Debunked
Several myths and misconceptions exist regarding BMW M3 car insurance rates that need clarification. One myth is that all high-performance vehicles are costly to insure. While some high-performance cars do have higher insurance costs, this is not universally true. Insurance costs depend on various factors and each vehicle is assessed individually.
Another misconception is that opting for the minimum required insurance coverage will save money. Although it may reduce upfront costs, it can expose you to substantial financial risks in the event of an accident. It’s essential to balance cost and coverage when selecting insurance for your BMW M3.
The Impact of the BMW M3 Model Year on Insurance Costs
The model year of your BMW M3 significantly affects your insurance expenses. Generally, newer BMW M3 models have higher insurance premiums due to their greater value and higher repair costs.
Conversely, older models might come with lower insurance rates. When buying a new BMW M3 or upgrading to a newer model, it’s important to consider the likely rise in insurance premiums. Additionally, insurance rates can differ between specific model years, so getting quotes for the exact year you’re interested in can provide a more accurate estimate of insurance costs.
Michelle Robbins Licensed Insurance Agent
The model year of your BMW M3 significantly affects your insurance expenses. Generally, newer BMW M3 models have higher insurance premiums due to their greater value and higher repair costs. Conversely, older models might come with lower insurance rates. When buying a new BMW M3 or upgrading to a newer model, it’s important to consider the likely rise in insurance premiums. Additionally, insurance rates can differ between specific model years, so getting quotes for the exact year you’re interested in can provide a more accurate estimate of insurance costs.
Comparing Insurance Rates for Different BMW M Series Models, Including the M3
When thinking about buying a BMW M3, it’s wise to also look at insurance rates for other BMW M series models. Insurance costs can differ between models within the same series due to factors like performance specifications, safety features, and repair expenses.
By evaluating insurance rates for different BMW M series models, including the M3, you can make a well-informed decision about which model best meets your needs in terms of both performance and cost.
Frequently Asked Questions
Is the BMW 3 Series cheap to insure?
The insurance cost for a BMW 3 Series can vary depending on factors like the model year, your location, and driving history. Generally, insurance for the 3 Series may be higher than average due to its luxury status and potentially higher repair costs.
What insurance group is a BMW M3?
The insurance group for a BMW M3 varies depending on factors like the model year, specifications, and insurance provider’s assessment of risk. Generally, due to its high performance and value, the M3 falls into higher insurance groups. Enter your ZIP code below to see how much you could save.
Is M3 expensive to maintain?
Maintaining a BMW M3 can be more expensive compared to regular cars due to its high-performance components and specialized parts. Routine maintenance, repairs, and servicing costs may be higher, especially for newer models.
Are BMW 3 Series expensive to own?
The ownership costs for a BMW 3 Series can be higher compared to economy cars due to factors like maintenance, repairs, insurance, and fuel costs. However, the overall ownership experience can vary based on individual circumstances and preferences.
Is BMW cheap to maintain?
BMWs are often associated with higher maintenance costs compared to some other brands due to factors like specialized parts and labor. While routine maintenance costs can be higher, overall reliability and performance may justify the expenses for some owners.
Are BMW hard to insure?
BMWs, including the M3, can sometimes be perceived as higher risk vehicles by insurance companies due to factors like performance capabilities, repair costs, and theft rates. However, many insurers offer coverage options tailored to BMW owners. Get the full story by checking out our “How much does BMW 2 Series car insurance cost?”
Does M3 depreciate?
Like most cars, the BMW M3 experiences depreciation over time. Factors such as mileage, condition, and market demand can influence the rate of depreciation, but generally, luxury vehicles like the M3 depreciate at a faster rate initially.
How much is insurance for a 2014 BMW 3 Series?
Insurance rates for a 2014 BMW 3 Series can vary based on factors like your location, driving history, and coverage level. On average, expect insurance premiums to be moderate compared to newer models.
How long can a BMW M3 last?
With proper maintenance and care, a BMW M3 can last well over 100,000 miles. However, longevity also depends on driving habits, maintenance history, and environmental factors.
How much does a BMW M3 cost per month?
The monthly cost of owning a BMW M3 includes expenses like loan payments, insurance premiums, fuel, maintenance, and repairs. On average, these costs can range from several hundred to over a thousand dollars per month, depending on individual circumstances.
Is the BMW M3 a good car?
The BMW M3 is widely regarded as a high-performance sports sedan with exceptional driving dynamics, powerful engines, and luxurious features. While it may come with higher ownership costs, many enthusiasts consider it an excellent choice for driving enthusiasts. Find out more by reading our “How much does BMW i4 car insurance cost?”
What makes the BMW M3 special?
The BMW M3 is renowned for its blend of performance, luxury, and everyday usability. It offers exhilarating driving experiences, precise handling, and advanced technology, making it a sought-after choice among enthusiasts and luxury car buyers.
How much is insurance for an M4?
Insurance rates for a BMW M4 can vary based on factors like your location, driving history, and coverage options. Expect premiums to be higher compared to standard sedans due to the M4’s performance capabilities and higher value.
How much is M3 cost?
The cost of a BMW M3 varies depending on factors such as the model year, condition, mileage, and optional features. On average, prices can range from tens of thousands to over a hundred thousand dollars for newer models or special editions. By entering your ZIP code below
How much is M3 per month?
The monthly cost of owning a BMW M3 includes expenses like loan payments, insurance premiums, fuel, maintenance, and repairs. On average, these costs can range from several hundred to over a thousand dollars per month, depending on individual circumstances. Unlock additional information in our “How much does BMW i7 car insurance cost?”