The Cheapest Car Insurance for a BMW M3

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Drivers of the most recent BMW M3 model pay an average of $2,316 per year for car insurance, but you might find cheaper coverage if you shop around.

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Written by Ben Moore
Nerdy takeaways
  • The cheapest insurance company for a 2022 BMW M3 is Erie at $1,757 per year, on average.

  • The BMW M3 costs an average of $2,316 per year to insure.

  • That works out to a car insurance rate of $193 per month.

Why you can trust NerdWallet

Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our writing and data analyses. You can trust the prices we show you because our data analysts take rigorous measures to eliminate outliers and inaccuracies in pricing data, which include rates from every ZIP code in the country where coverage is offered and data is available. Read our methodology.

Jump to your Model Year

    The vehicle you drive plays a big role in determining how much you pay for auto insurance. Insurers set rates based on factors like how expensive a vehicle’s repair costs are, how often a car is broken into or stolen, and even the likelihood of a vehicle getting into an accident. The cheapest cars to insure usually don’t cost as much to repair after a claim, while those with higher repair costs — like luxury vehicles and sporty models — tend to be more expensive to insure.

    Auto insurance rates vary by company, so shopping around and comparing quotes from multiple insurers is the best way to find cheap car insurance.

    How much does BMW M3 insurance cost?

    The average cost for BMW M3 insurance in 2022 is $193 per month, according to NerdWallet’s most recent analysis of full coverage insurance rates. But each model year will likely have different insurance costs. Check out the table below to see the average insurance cost by model year.

    YearCost
    2022$2,316
    2021$2,250
    2020$1,489
    2019$2,273
    2018$2,236
    2017$2,115
    2016$2,059
    2015$1,962
    2014$1,898
    2013$1,856
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    Cheapest insurance for a 2022 BMW M3

    The average cost of car insurance for BMW M3 is $2,316 per year, but you may be able to find cheaper rates if you shop around and compare quotes from multiple insurance companies.

    Here are the cheapest car insurance companies for a 2022 BMW M3.

    CompanyCostNerdWallet Rating
    Erie$1,757
    NerdWallet rating 

    4.0

    /5
    USAA$1,827
    NerdWallet rating 

    5.0

    /5
    Travelers$1,941
    NerdWallet rating 

    5.0

    /5
    Auto-Owners$2,174
    NerdWallet rating 

    5.0

    /5
    Geico$2,177
    NerdWallet rating 

    5.0

    /5

    >> MORE: Estimate car insurance

    Cheapest insurance for a 2021 BMW M3

    Our analysis found that the average auto insurance cost for a BMW M3 is $2,250 per year, which is 2.97% less to insure than the 2022 model. But shopping around and comparing quotes from multiple insurers may help you get an even lower rate.

    Here are the cheapest insurance companies for a 2021 BMW M3.

    CompanyCostNerdWallet Rating
    Erie$1,693
    NerdWallet rating 

    4.0

    /5
    USAA$1,815
    NerdWallet rating 

    5.0

    /5
    Travelers$1,935
    NerdWallet rating 

    5.0

    /5
    American Family$2,044
    NerdWallet rating 

    5.0

    /5
    Nationwide$2,052
    NerdWallet rating 

    4.0

    /5

    >> MORE: Types of car insurance

    Cheapest insurance for a 2020 BMW M3

    The average car insurance rate for a 2020 BMW M3 is $1,489 per year, but you might find even cheaper rates by shopping around and comparing quotes from multiple insurance companies.

    Here are the cheapest insurers for a 2020 BMW M3.

    CompanyCostNerdWallet Rating
    State Farm$814
    NerdWallet rating 

    5.0

    /5
    Travelers$950
    NerdWallet rating 

    5.0

    /5
    American Family$1,123
    NerdWallet rating 

    5.0

    /5
    Geico$1,317
    NerdWallet rating 

    5.0

    /5
    Progressive$1,379
    NerdWallet rating 

    4.5

    /5

    >> MORE: Car insurance quotes: How to shop and compare online

    Cheapest insurance for a 2019 BMW M3

    NerdWallet’s analysis found that the average cost of insurance for a 2019 BMW M3 is $2,273. But you can typically find cheaper rates by shopping around and comparing quotes from multiple companies.

    Here are the cheapest car insurance companies for a 2019 BMW M3.

    CompanyCostNerdWallet Rating
    USAA$1,788
    NerdWallet rating 

    5.0

    /5
    Erie$1,906
    NerdWallet rating 

    4.0

    /5
    Geico$2,066
    NerdWallet rating 

    5.0

    /5
    Auto-Owners$2,127
    NerdWallet rating 

    5.0

    /5
    Nationwide$2,160
    NerdWallet rating 

    4.0

    /5

    >> MORE: The average cost of car insurance

    Cheapest insurance for a 2018 BMW M3

    The average cost to insure a 2018 BMW M3 is $2,236. But you might find even cheaper rates if you compare car insurance quotes from multiple companies.

    Here are the cheapest insurers for a 2018 BMW M3.

    CompanyCostNerdWallet Rating
    USAA$1,715
    NerdWallet rating 

    5.0

    /5
    Erie$1,837
    NerdWallet rating 

    4.0

    /5
    Geico$2,006
    NerdWallet rating 

    5.0

    /5
    Auto-Owners$2,044
    NerdWallet rating 

    5.0

    /5
    State Farm$2,129
    NerdWallet rating 

    5.0

    /5

    >> MORE: The cheapest full coverage car insurance

    Cheapest insurance for a 2017 BMW M3

    Nerdwallet’s analysis found that the average cost to insure a 2017 BMW M3 is $2,115. But you can likely get even cheaper rates if you compare quotes from a few different insurance companies.

    Here are the cheapest insurers for a 2017 BMW M3.

    CompanyCostNerdWallet Rating
    Erie$1,634
    NerdWallet rating 

    4.0

    /5
    USAA$1,732
    NerdWallet rating 

    5.0

    /5
    Auto-Owners$1,822
    NerdWallet rating 

    5.0

    /5
    American Family$1,877
    NerdWallet rating 

    5.0

    /5
    Geico$1,934
    NerdWallet rating 

    5.0

    /5

    >> MORE: The best cheap car insurance

    Cheapest insurance for a 2016 BMW M3

    A 2016 BMW M3 costs an average of $2,059 to insure, per year. But you might find cheaper rates by shopping around and comparing quotes from multiple companies.

    Here are the cheapest insurers for a 2016 BMW M3.

    CompanyCostNerdWallet Rating
    Erie$1,540
    NerdWallet rating 

    4.0

    /5
    USAA$1,602
    NerdWallet rating 

    5.0

    /5
    Auto-Owners$1,714
    NerdWallet rating 

    5.0

    /5
    American Family$1,833
    NerdWallet rating 

    5.0

    /5
    Travelers$1,920
    NerdWallet rating 

    5.0

    /5

    >> MORE: Cheap car insurance companies

    Cheapest insurance for a 2015 BMW M3

    Our analysis found that a 2015 BMW M3 will cost an average of $1,962. But shopping around and comparing quotes from multiple insurers may get you an even lower rate.

    Here are the cheapest companies for a 2015 BMW M3.

    CompanyCostNerdWallet Rating
    Erie$1,275
    NerdWallet rating 

    4.0

    /5
    USAA$1,390
    NerdWallet rating 

    5.0

    /5
    Auto-Owners$1,614
    NerdWallet rating 

    5.0

    /5
    American Family$1,730
    NerdWallet rating 

    5.0

    /5
    State Farm$1,844
    NerdWallet rating 

    5.0

    /5

    >> MORE: Your guide to car insurance discounts

    Cheapest insurance for a 2014 BMW M3

    Our analysis found that a 2014 BMW M3 costs an average rate of $1,898 per year to insure. But you could find even cheaper insurance if you shop around to compare quotes from multiple insurers.

    Here are the cheapest car insurance companies for a 2014 BMW M3.

    CompanyCostNerdWallet Rating
    Erie$1,185
    NerdWallet rating 

    4.0

    /5
    USAA$1,384
    NerdWallet rating 

    5.0

    /5
    State Farm$1,448
    NerdWallet rating 

    5.0

    /5
    Nationwide$1,492
    NerdWallet rating 

    4.0

    /5
    Auto-Owners$1,613
    NerdWallet rating 

    5.0

    /5

    >> MORE: How to save on car insurance

    Cheapest insurance for a 2013 BMW M3

    Our analysis found that a 2013 BMW M3 costs 24.77% less than a 2022 model, with an average rate of $1,856. But you can typically find even cheaper rates by comparing quotes from multiple insurance companies.

    Here are the cheapest auto insurers for a 2013 BMW M3.

    CompanyCostNerdWallet Rating
    Erie$1,143
    NerdWallet rating 

    4.0

    /5
    USAA$1,332
    NerdWallet rating 

    5.0

    /5
    State Farm$1,405
    NerdWallet rating 

    5.0

    /5
    Nationwide$1,458
    NerdWallet rating 

    4.0

    /5
    Auto-Owners$1,540
    NerdWallet rating 

    5.0

    /5

    >> MORE: The best cheap auto insurance

    Other BMW models

    Methodology

    NerdWallet averaged insurance estimates for this vehicle in all ZIP codes in any of the 50 states and Washington, D.C., where rates are available. Our sample profile is a 35-year-old driver with good credit and no tickets or violations. Our “good” and “poor” credit rates are based on credit score approximations and do not account for proprietary scoring criteria used by insurance providers.

    We averaged rates between male and female drivers and assumed 12,000 annual miles driven. These are average rates, and your rate will vary based on your personal details, state and insurance provider.

    For full coverage policies, we used the following coverage limits:

    • $100,000 bodily injury liability per person.

    • $300,000 bodily injury liability per accident.

    • $50,000 property damage liability per accident.

    • $100,000 uninsured motorist coverage per person.

    • $300,000 uninsured motorist coverage per accident.

    • Collision coverage with a $1,000 deductible.

    • Comprehensive coverage with a $1,000 deductible.

    Where required by law, minimum additional coverages were added. Some policies include additional coverages at the insurer’s discretion.

    The analysis included the largest insurance companies in each state; smaller insurers were also included when rates were available. Although it’s one of the largest insurers in the country, Liberty Mutual is not included in our rates analysis due to a lack of publicly available information.

    These are rates generated through Quadrant Information Services. Your own rates will be different.