Compare the Cost of BMW 3 Series Insurance by Model Year and Company

The average cost of insuring a BMW 3 Series is $1,708, which is a moderate rate. State Farm offers the cheapest insurance for this car model, but rates may vary depending on model year, driver age and preferred provider.

By Mark Fitzpatrick

Edited by Victoria Copans

Updated: October 25, 2024

Advertising & Editorial Disclosure

The cost of insuring a BMW 3 Series is significantly impacted by the driver's age. For example, a 16-year-old purchasing insurance for a 2009 model can expect to pay an average of $6,226 annually, while a 40-year-old driver only pays about $1,346 per year. For a 2022 model, the rates are $8,814 per year for a 16-year-old and $1,937 per year for a 40-year-old driver, on average.

MoneyGeek also ranked the best car insurance providers for a BMW 3 Series based on how they balance affordability, quality of service and claims experience.

Car Insurance CostsBMW 3 Series

2024

Table of Contents

Cheapest Insurer - State Farm

Best Insurer - State Farm

Runner-Up - GEICO

Costs by Model Year

Costs by Driver Age

Costs by Location

Why Trust MoneyGeek? We collected thousands of car insurance quotes from Quadrant Information Services to analyze the average rates for a BMW 3 Series.

These rates were updated to reflect the average cost of car insurance for a BMW 3 Series as of 2023.

10Companies Compared

41,832 Quotes Analyzed

Average Cost and Cheapest Companies for Insuring a BMW 3 Series

The annual cost of car insurance for a BMW 3 Series is approximately $1,708. However, premiums can vary significantly depending on the insurance provider you choose.

For instance, State Farm offers the most affordable car insurance for a BMW 3 Series at $1,268 per year, while Farmers is the most expensive option at $2,126 per year.

If you're interested in minimum coverage policies, the average cost of insuring a BMW 3 Series is $580 per year. State Farm offers the cheapest minimum coverage policy at $483 per year, and Farmers is once again the most expensive at $804 per year.

Data filtered by:Results filtered by:

Age

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Age:40

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Coverage:Full Coverage


State Farm	$1,268
GEICO	$1,384
Nationwide	$1,519
Travelers	$1,587
Allstate	$1,769
Progressive	$1,885
Farmers	$2,126

Is a BMW 3 Series Expensive to Insure?

Insurance companies consider various factors when determining the cost of insuring a given BMW 3 Series. On average, this car model is neither cheap nor expensive to insure. The BMW 3 Series has a relatively high MSRP compared to other sedans, meaning it also has relatively high repair and replacement costs, which is why it's not cheap to insure.

Best Companies for Insuring a BMW 3 Series

Affordability is not the only aspect to consider when purchasing car insurance — the quality of service and claims management experience are also important factors.

Our research shows that the following car insurance providers are the best options for insuring a BMW 3 Series:

State Farm: MoneyGeek score of 90 out of 100 ($1,268 per year)
GEICO: MoneyGeek score of 88 out of 100 ($1,384 per year)

State Farm offers a great balance of affordability and service quality, providing policyholders with excellent value for their money.

MoneyGeek Top Pick: State Farm

pros

Offers the most affordable rates in our comparison group

Earned a high customer satisfaction score

cons

Lacks gap insurance and original equipment manufacturer (OEM) coverage

Has a poor claims handling rating

COMPANY HIGHLIGHTS

State Farm stands out as the best auto insurance provider for a BMW 3 Series due to its affordable rates and high level of customer satisfaction. This provider offers the lowest premiums among the BMW 3 Series insurers we evaluated.

The company also offers several essential coverage options that are beneficial for BMW 3 Series drivers. For example, roadside assistance covers services like for towing, locksmith services, mechanical labor and delivery costs for gas, oil, battery or tires if your car breaks down.

State Farm also offers rental car and travel reimbursement coverage, which can help cover expenses for a rental car, meals, lodging and transportation if your BMW 3 Series is unusable due to a covered incident.

Read MoneyGeek's State Farm Auto Insurance Review

MoneyGeek Runner-Up: GEICO

pros

Affordable rates

High-quality customer service

Comprehensive add-on coverage options

cons

Subpar claims management

Does not offer OEM coverage

COMPANY HIGHLIGHTS

GEICO is our runner-up pick as the best car insurance provider for BMW 3 Series. It stands out from the competition for its great service and affordable rates, which are the second-lowest among the companies we studied.

In addition, GEICO has a broad range of add-on coverages that can enhance your policy. For additional financial protection for your BMW 3 Series, you may want to consider purchasing GEICO’s mechanical breakdown insurance (MBI). This option covers all parts and systems on your BMW 3 Series, which goes beyond the standard list of services included in most dealer-extended warranties.

GEICO also provides accident forgiveness coverage, which prevents a surcharge after the policyholder's first at-fault accident. Drivers over 21 years old who have had no accidents for five years can earn this coverage for free.

Cost of Insuring a BMW 3 Series by Model Year

Auto insurance costs vary based on the age of the car. For example, the average cost of car insurance for a 2009 BMW 3 Series is $1,346 per year, while the average cost for a 2022 model is around $1,937 per year. Generally, older cars have lower insurance premiums compared to newer ones as car values depreciate over time.

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Age:40

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Coverage:Full Coverage


2022	$1,937
2021	$1,901
2020	$1,824
2019	$1,803
2018	$1,753
2017	$1,680
2016	$1,666
2015	$1,622
2014	$1,558
2013	$1,552
2012	$1,516
2011	$1,432
2010	$1,403
2009	$1,346

You can expect your average auto insurance costs to be influenced not only by your car’s model year but also by your preferred insurance company. State Farm offers the most affordable rates for both a 2009 and 2022 model BMW 3 Series, at $1,028 per year and $1,439 per year, respectively.

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Model Year:2022

Age

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Age:40

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Coverage:Full Coverage


State Farm	$1,439
GEICO	$1,586
Nationwide	$1,615
Travelers	$1,671
Progressive	$2,158
Farmers	$2,561
Allstate	$2,577

Cost of Insuring a BMW 3 Series for 16- to 25-Year-Olds

Car insurance premiums for teens and those in their 20s are usually higher than for those aged 30 and over. For a BMW 3 Series, the average cost of car insurance is around $7,532 per year for a 16-year-old driver and around $1,642 per year for a 40-year-old driver.

Although car insurance for teens can be costly, premiums tend to decrease every year the driver ages in their teens and stabilize once the driver hits their 20s.

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Coverage:Full Coverage


16	$7,532
17	$6,131
18	$5,415
19	$3,749
20	$3,404
21	$2,621
22	$2,426
23	$2,258
24	$2,147
25	$1,929

Adding teens to a family plan is a great way to save on car insurance costs for teen drivers as individual policies are more expensive. In addition, teens under 18 are legally required to have a parent or guardian co-sign if they buy an individual policy.

State Farm is the cheapest option for a 16-year-old driver with a 2009 BMW 3 Series at $4,683 per year, on average. Farmers is the most expensive at approximately $12,468 per year. These rates are for individual policies. It’s important to compare rates from different providers to find the most affordable option for your family.

Data filtered by:Results filtered by:

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Age:16

Model Year

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Model Year:2022

Coverage

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Coverage:Full Coverage


State Farm	$4,683
Nationwide	$6,640
Travelers	$6,987
GEICO	$7,368
Allstate	$11,014
Progressive	$12,443
Farmers	$12,468

How Does Location Affect the Cost of BMW 3 Series Insurance?

Car insurance premiums are calculated based on various factors, including the car model, model year and driver age. However, location can be an even more significant factor. The cheapest insurance provider for a particular car model can vary by state — Florida has the highest average rates, while Idaho has the lowest.

To find the best deal on BMW 3 Series car insurance, it's wise to get quotes from the most affordable insurers within your state.

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Age Group:30-59

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Coverage:Full Coverage


Alabama	Nationwide	$709	$59
Alaska	State Farm	$699	$58
Arizona	Root Insurance Company	$682	$57
Arkansas	State Farm	$629	$52
California	AAA California	$1,001	$83
Colorado	American National P&C	$541	$45
Connecticut	GEICO	$693	$58
Delaware	State Farm	$881	$73
District of Columbia	GEICO	$662	$55
Florida	State Farm	$1,058	$88
Georgia	Country Financial	$665	$55
Hawaii	GEICO	$565	$47
Idaho	American National P&C	$299	$25
Illinois	Country Financial	$663	$55
Indiana	American Family	$555	$46
Iowa	State Farm	$509	$42
Kansas	Nationwide	$670	$56
Kentucky	Nationwide	$790	$66
Louisiana	Louisiana Farm Bureau	$1,048	$87
Maine	Concord Group	$521	$43
Maryland	Progressive	$938	$78
Massachusetts	State Farm	$483	$40
Michigan	GEICO	$898	$75
Minnesota	State Farm	$797	$66
Mississippi	Direct General Insurance	$723	$60
Missouri	Nationwide	$909	$76
Montana	Progressive	$437	$36
Nebraska	American National P&C	$405	$34
Nevada	CSAA	$940	$78
New Hampshire	State Farm	$540	$45
New Jersey	Plymouth Rock Assurance	$895	$75
New Mexico	State Farm	$644	$54
New York	Kemper	$781	$65
North Carolina	Erie	$630	$52
North Dakota	American Family	$616	$51
Ohio	Nationwide	$485	$40
Oklahoma	State Farm	$662	$55
Oregon	State Farm	$706	$59
Pennsylvania	Nationwide	$580	$48
Rhode Island	State Farm	$700	$58
South Carolina	American National P&C	$463	$39
South Dakota	Allstate	$746	$62
Tennessee	State Farm	$579	$48
Texas	State Farm	$699	$58
Utah	Nationwide	$725	$60
Vermont	State Farm	$493	$41
Virginia	American Family	$601	$50
Washington	PEMCO	$534	$44
West Virginia	Erie	$784	$65
Wisconsin	GEICO	$556	$46
Wyoming	State Farm	$745	$62

Frequently Asked Questions About BMW 3 Series Insurance

If you're researching car insurance options for a BMW 3 Series, you may have questions about the affordability and quality of service of insurers. Here are answers to some frequently asked questions.

What company has the cheapest car insurance for a BMW 3 Series?

The average cost of auto insurance for a BMW 3 Series is $1,708 per year, which is a moderate rate compared to the cost of insuring other car models. However, various factors, such as the car's model year, driver age, location and preferred insurance provider, can affect the cost of car insurance. State Farm offers the most affordable rates for the average driver, at approximately $1,268 per year.

What company offers the best car insurance for a BMW 3 Series?

MoneyGeek’s analysis found that the best car insurance company for a BMW 3 Series is State Farm. With a MoneyGeek score of 90 out of 100, this provider offers affordable rates and has high customer satisfaction ratings, making it a great option if you value customer service but still want to keep costs low. Our second choice was GEICO, which was not as highly rated for customer service or affordability as State Farm.

About Mark Fitzpatrick

Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.

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