Cheap BMW M3 Car Insurance in 2024 (Check Out the Top 10 Companies)
AIG, USAA, and Progressive are the leading providers of cheap BMW M3 car insurance with monthly rates starting at $48/month. They offer the best deals due to competitive rates, coverage options, and excellent customer service. Insuring a BMW M3 is affordable when you compare these top providers.
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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: Oct 22, 2024
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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.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Oct 22, 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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163 reviewsCompany Facts
Min. Coverage for BMW M3
A.M. Best Rating
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Pros & Cons
163 reviews
6,435 reviewsCompany Facts
Min. Coverage for BMW M3
A.M. Best Rating
Complaint Level
Pros & Cons
6,435 reviews
13,128 reviewsCompany Facts
Min.Coverage for BMW M3
A.M. Best Rating
Complaint Level
Pros & Cons
13,128 reviewsWhen it comes to finding cheap BMW M3 car insurance, navigating through the myriad options can be daunting. Among the top choices for affordable coverage are AIG, USAA, and Progressive, offering competitive rates starting at $48 per month.
These companies stand out not only for their cost-effectiveness but also for their comprehensive coverage options and stellar customer service, making them ideal choices for BMW M3 owners looking to secure reliable insurance without breaking the bank. Get the full story by checking out our cheap BMW 1 Series car insurance.
Our Top 10 Company Picks: Cheap BMW M3 Car Insurance
| 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 |
Finding affordable car insurance doesn’t have to be a challenge. Enter your ZIP code above into our free comparison tool to find the lowest prices in your area.
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#1 – AIG: Top Overall Pick
Pros
- High Coverage: AIG offers extensive coverage options, ensuring comprehensive protection for your BMW M3. Dive into the details with our article entitled “AIG Insurance Review & Ratings.“
- Competitive Rates: At $48 per month, AIG provides one of the most affordable insurance rates.
- Strong Financial Stability: AIG holds an A rating from A.M. Best, indicating reliable financial strength.
- Customizable Policies: AIG allows for tailored policies to meet specific customer needs.
Cons
- Limited Discounts: Compared to competitors, AIG may offer fewer discounts.
- Customer Service: Some customers report inconsistent service experiences.
- Claims Processing: The claims process may be slower compared to other top insurers.
#2 – USAA: Best for Military Discounts
Pros
- Military Discounts: USAA offers significant discounts for military members and their families.
- Excellent Financial Strength: With an A++ rating from A.M. Best, USAA is highly financially stable.
- Competitive Rates: USAA’s monthly rate of $50 is highly competitive for BMW M3 insurance.
- Superior Customer Service: USAA is known for its exceptional customer service and support.
Cons
- Membership Restrictions: USAA is only available to military members, veterans, and their families.
- Limited Availability: Non-military individuals cannot access USAA’s insurance products.Gain deeper insights by perusing our article named “USAA Insurance Review & Ratings.“
- Fewer Physical Locations: USAA has fewer brick-and-mortar branches compared to some competitors.
#3 – Progressive: Best for Snapshot Program
Pros
- Snapshot Program: Progressive’s Snapshot program rewards safe driving with potential discounts.
- Strong Financial Stability: With an A+ rating from A.M. Best, Progressive is financially secure.
- Competitive Rates: At $52 per month, Progressive offers affordable rates for BMW M3 insurance.
- Wide Range of Discounts: Progressive provides a variety of discounts to help lower premiums.
Cons
- High Rates for High-Risk Drivers: Premiums can be significantly higher for drivers with poor records.
- Mixed Customer Reviews: Some customers report dissatisfaction with claims handling. Explore further in our article titled “Progressive Insurance Review & Ratings.“
- Limited Local Agents: Progressive relies heavily on online and phone service, with fewer local agents.
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#4 – Travelers: Best for Hybrid Discounts
Pros
- Hybrid Discounts: Travelers offers discounts specifically for hybrid and electric vehicles.
- Excellent Financial Strength: Travelers holds an A++ rating from A.M. Best, ensuring financial reliability.
- Competitive Rates: At $53 per month, Travelers provides affordable insurance options. Delve into the specifics in our article called “Travelers Insurance Review & Ratings.“
- Comprehensive Coverage Options: Travelers offers a wide range of coverage options tailored to customer needs.
Cons
- Limited Availability: Discounts and policies may not be available in all states.
- Higher Premiums for Some Drivers: Rates can be higher for drivers with less-than-perfect records.
- Customer Service Variability: Customer service experiences can vary depending on the representative.
#5 – Erie: Best for Comprehensive Policies
Pros
- Comprehensive Policies: Erie offers robust and comprehensive policy options.
- Strong Financial Stability: With an A+ rating from A.M. Best, Erie is financially solid. For a comprehensive understanding, consult our article titled “Erie Insurance Review & Ratings.“
- Competitive Rates: At $54 per month, Erie provides affordable insurance for BMW M3 owners.
- Exceptional Customer Service: Erie is known for its high customer satisfaction and personalized service.
Cons
- Regional Availability: Erie is not available in all states, limiting accessibility.
- Limited Online Resources: Erie’s online tools and resources are less comprehensive compared to competitors.
- Fewer Discounts: Erie may offer fewer discount opportunities than some other insurers.
#6 – State Farm: Best for Multiple Discounts
Pros
- Multiple Discounts: State Farm offers a variety of discounts to help reduce premiums. Enhance your knowledge by reading our State farm insurance review & ratings.
- Excellent Financial Strength: Wide range of financial products and services beyond insurance, enhancing overall stability and diversification.
- Competitive Rates: At $55 per month, State Farm provides affordable rates for BMW M3 insurance.
- Wide Agent Network: State Farm has a large network of local agents for personalized service.
Cons
- Higher Premiums for Young Drivers: Rates can be higher for younger, less experienced drivers.
- Mixed Online Experience: Some customers report issues with the online quoting and claims process.
- Customer Service Variability: Service quality can vary depending on the local agent.
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#7 – Nationwide: Best for Vanishing Deductible
Pros
- Vanishing Deductible: Nationwide’s vanishing deductible program rewards safe driving.
- Strong Financial Stability: With an A+ rating from A.M. Best, Nationwide is financially reliable.
- Competitive Rates: At $56 per month, Nationwide offers affordable BMW M3 insurance. Uncover more by delving into our article entitled “Nationwide Insurance Review & Ratings.“
- Comprehensive Coverage Options: Nationwide provides a wide range of coverage options.
Cons
- Mixed Customer Reviews: Some customers report dissatisfaction with claims processing.
- Higher Premiums for High-Risk Drivers: Rates can be higher for drivers with poor records.
- Limited Local Agents: Fewer local agents compared to some competitors.
#8 – American Family: Best for Competitive Pricing
Pros
- Competitive Pricing: American Family offers competitive rates at $57 per month.
- Strong Financial Stability: American Family holds an A rating from A.M. Best. Get a better grasp by checking out our article titled “American Family Insurance Review & Ratings.“
- Wide Range of Discounts: Various discount options are available to help lower premiums.
- Customizable Policies: Policies can be tailored to meet individual needs and preferences.
Cons
- Regional Availability: Not available in all states, limiting accessibility.
- Customer Service Variability: Service quality can vary depending on the representative.
- Online Tools: Fewer online tools and resources compared to larger competitors.
#9 – Allstate: Best for Safe Driving
Pros
- Safe Driving Discounts: Allstate rewards safe driving with potential discounts.
- Strong Financial Stability: Allstate holds an A+ rating from A.M. Best. Expand your understanding with our article called “Allstate Insurance Review & Ratings.“
- Competitive Rates: At $58 per month, Allstate offers affordable BMW M3 insurance.
- Comprehensive Coverage Options: Allstate provides a wide range of coverage options.
Cons
- Mixed Customer Reviews: Some customers report dissatisfaction with claims handling.
- Higher Premiums for High-Risk Drivers: Rates can be higher for drivers with poor records.
- Service Variability: Customer service experiences can vary depending on the agent.
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#10 – Liberty Mutual: Best for Customizable Policies
Pros
- Customizable Policies: Liberty Mutual offers highly customizable insurance policies.
- Strong Financial Stability: Liberty Mutual holds an A rating from A.M. Best.
- Competitive Rates: At $60 per month, Liberty Mutual provides affordable BMW M3 insurance.
- Comprehensive Coverage Options: A wide range of coverage options is available to meet customer needs.
Cons
- Mixed Customer Reviews: Some customers report dissatisfaction with claims processing. For additional insights, refer to our Liberty Mutual review & ratings.
- Higher Premiums for High-Risk Drivers: Premiums can be higher for drivers with poor records.
- Online Experience: The online quoting and claims process can be less user-friendly than competitors.
Factors Influencing BMW M3 Car Insurance Rates
BMW M3 Car Insurance Monthly Rates by Coverage Level & Provider
| 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 and those with a history of accidents or violations typically face higher premiums, and premiums can also be affected by location, with higher rates in areas prone to crime or accidents. Newer BMW M3 models generally incur higher insurance costs due to their higher value and potential 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.
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Tips for Finding Affordable Car Insurance for a 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.
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. Enhance your comprehension with our cheap BMW 2 Series car insurance.
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.
Common Myths About BMW M3 Car Insurance Rates Debunked
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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
How much is insurance on M3?
Insurance rates for the BMW M3 can vary based on factors like your location, driving history, and coverage level. On average, expect to pay higher premiums compared to standard sedans due to the M3’s performance and value. Elevate your knowledge with our “Is it cheaper to insure an Audi or BMW?”
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 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?”
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.
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.
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?”
How much is insurance for a 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.
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?”
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. Find cheap car insurance quotes by entering your ZIP code below.
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. Gain a deeper understanding through our cheap BMW Z8 car 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
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
