How much is auto insurance for a BMW M3?
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UPDATED: Aug 27, 2019
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The 2011 BMW M3 is a performance-oriented luxury car that’s available as a convertible, coupe, or sedan. The convertible model features a starting MSRP of $67,550 and the coupe is priced at $58,900.
The M3 sedan starts at $55,900, over $10,000 less than the convertible. U.S. News and World Report described the M3’s performance as “phenomenal,” and Car and Driver magazine ranked the M3 among its “Ten Best” for 2010.
Read on to learn how much you can expect to pay for the M3 auto insurance, repairs and maintenance or enter your zip code above to compare car insurance quotes for this sporty luxury vehicle.
Auto Insurance Rates for the M3
The National Automobile Dealers Association (NADA) estimates that an average BMW M3 driver will pay approximately $1,919 for annual full coverage auto insurance. This average rate is based on a driver with seven or more years of experience, though.
Drivers with three to six years of experience will pay closer to $3,539 per year to insure a 2011 M3, and drivers with less than three years of experience could owe around $5,316 per year.
Upgrading to a pricier model will also increase your auto insurance costs, the NADA reports. The M3 coupe costs about $2,100 to insure annually or about $100 more than the M3 sedan.
If you opt for the M3 convertible then auto insurance could cost even a little more with average premiums around $2,274 annually.
BMW M3 Warranty Review
2011 BMW M3 models are warranted from bumper to bumper for 50,000 miles or four years. This warranty includes not only replacement of damaged or malfunctioning parts, but also roadside assistance and routine maintenance.
Roadside assistance is available for four years, regardless of mileage. BMWs are also guaranteed against corrosion for 12 years and unlimited miles.
Repair Costs for the BMW M3
The NADA expects total repair costs of around $2,597 for the 2011 M3. Since most owners’ warranties will expire between the third and fourth years that they own their vehicles, they will likely owe just over $1,000 out of pocket for repairs during the fourth year their vehicles are on the road.
The anticipated year five repair bill for the BMW M3 is likely to be between $1,500 and $1,600.
BMW M3 Scheduled Maintenance
Routine maintenance is complementary while the car is under warranty so most M3 drivers won’t pay anything out of pocket during the first few years they own their vehicles.
However, the NADA projects a fourth-year scheduled maintenance bill of nearly $1,500, and a fifth-year bill just above that amount.
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Additional BMW M3 Ownership Costs
The NADA also provides estimates for ownership costs like depreciation, finances, taxes and fees.
The typical 2011 BMW M3 convertible is projected to lose around $35,656 in value during its first five years on the road. This represents just over half of its initial starting MSRP, and is more or less typical for a luxury vehicle.
The M3 is projected to lose over $15,000 of its initial value during its first year off the lot, just above $6,000 the second year, and gradually decreasing amounts the following years.
The NADA also estimates that drivers will pay almost $9,000 in taxes and fees over the first five years the own their M3s, but this amount will vary depending on where they live.
Total financing costs of slightly less than $6,000 are also expected during the first five years, but this amount is heavily dependent on your credit score and the size of your down payment.
Excluding the actual purchase price, the total five-year ownership costs for the 2011 M3 convertible are projected to be about $91,000.
BMW M3 Safety Features
Neither the auto insurance industry nor the federal government has subjected the 2011 BMW M3 to crash testing yet, but the vehicle features abundant high-tech safety features. Anti-lock brakes and electronic stability control work together to help the driver control the vehicle in poor weather conditions.
The airbag system combines front head airbags, front thorax airbags, and overhead airbags.
The M3 also features BMW Assist, which gives you access to emergency assistance and customer service with the push of a button. If a serious crash occurs, the system will automatically alert emergency responders.
The Assist program also incorporates TeleService, which allows your vehicle to transmit its service requirements to a local service center.
BMW M3 Performance Review
The BMW M3 has a 4.0 liter V8 engine which generates 414 horsepower, allowing the vehicle to accelerate from zero to 60 mph in only 4.8 seconds.
The 7-speed transmission operates using dual clutches, and can be controlled via a gearshift or paddle shifters mounted on the steering wheel. The M Drive system allows you to adjust the vehicle’s electronic stability control and damping control to accommodate your driving style.
Sport options are available to provide the driver with a more authentic experience, while comfort and normal settings fully activate safety features and smooth out the ride for your daily commute.
M3 Interior Features
The M3 features a deluxe navigation system with real-time traffic info and a premium 825-watt audio system. It incorporates an HD Radio receiver and it’s compatible with your MP3 player and smartphone through an auxiliary audio input jack.
SIRIUS Satellite Radio is also available with a subscription. The BMW’s iDrive system integrates the vehicle’s audio and navigation features, and it can be voice activated for hands-free use.