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

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Updated: May 20, 2024

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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.

MoneyGeek Logo IconCar Insurance CostsBMW 3 Series

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

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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:
Coverage:Full Coverage
State FarmAverage Annual Premium$1,268
GEICOAverage Annual Premium$1,384
NationwideAverage Annual Premium$1,519
TravelersAverage Annual Premium$1,587
AllstateAverage Annual Premium$1,769
ProgressiveAverage Annual Premium$1,885
FarmersAverage Annual Premium$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

State Farm



Offers the most affordable rates in our comparison group


Earned a high customer satisfaction score



Lacks gap insurance and original equipment manufacturer (OEM) coverage


Has a poor claims handling rating


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




Affordable rates


High-quality customer service


Comprehensive add-on coverage options



Subpar claims management


Does not offer OEM coverage


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.

Read MoneyGeek's GEICO Auto Insurance Review

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.

Data filtered by:Results filtered by:
Coverage:Full Coverage
2022Average Annual Premium$1,937
2021Average Annual Premium$1,901
2020Average Annual Premium$1,824
2019Average Annual Premium$1,803
2018Average Annual Premium$1,753
2017Average Annual Premium$1,680
2016Average Annual Premium$1,666
2015Average Annual Premium$1,622
2014Average Annual Premium$1,558
2013Average Annual Premium$1,552
2012Average Annual Premium$1,516
2011Average Annual Premium$1,432
2010Average Annual Premium$1,403
2009Average Annual Premium$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.

Data filtered by:Results filtered by:
Model Year:
Model Year:2022
Coverage:Full Coverage
State FarmAverage Annual Premium$1,439
GEICOAverage Annual Premium$1,586
NationwideAverage Annual Premium$1,615
TravelersAverage Annual Premium$1,671
ProgressiveAverage Annual Premium$2,158
FarmersAverage Annual Premium$2,561
AllstateAverage Annual Premium$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.

Data filtered by:Results filtered by:
Coverage:Full Coverage
16Average Annual Premium$7,532
17Average Annual Premium$6,131
18Average Annual Premium$5,415
19Average Annual Premium$3,749
20Average Annual Premium$3,404
21Average Annual Premium$2,621
22Average Annual Premium$2,426
23Average Annual Premium$2,258
24Average Annual Premium$2,147
25Average Annual Premium$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:
Model Year:
Model Year:2022
Coverage:Full Coverage
State FarmAverage Annual Premium$4,683
NationwideAverage Annual Premium$6,640
TravelersAverage Annual Premium$6,987
GEICOAverage Annual Premium$7,368
AllstateAverage Annual Premium$11,014
ProgressiveAverage Annual Premium$12,443
FarmersAverage Annual Premium$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.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:Full Coverage
AlabamaCheapest CompanyNationwideAnnual Premium$709Monthly Premium$59
AlaskaCheapest CompanyState FarmAnnual Premium$699Monthly Premium$58
ArizonaCheapest CompanyRoot Insurance CompanyAnnual Premium$682Monthly Premium$57
ArkansasCheapest CompanyState FarmAnnual Premium$629Monthly Premium$52
CaliforniaCheapest CompanyAAA CaliforniaAnnual Premium$1,001Monthly Premium$83
ColoradoCheapest CompanyAmerican National P&CAnnual Premium$541Monthly Premium$45
ConnecticutCheapest CompanyGEICOAnnual Premium$693Monthly Premium$58
DelawareCheapest CompanyState FarmAnnual Premium$881Monthly Premium$73

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

About Mark Fitzpatrick

Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick 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.