Is full coverage worth it for a 2021 BMW M3?
Yes, full coverage makes sense for a 2021 BMW M3. This car holds $50,000 to $70,000 in value even after five years. Full coverage pays for theft, collisions, and other damage. Liability only means you cover big repair bills yourself. M3 repairs often top $20,000.
Full Coverage Costs
Full coverage costs $2,200 to $4,600 each year for a 2021 BMW M3. You pay about $223 monthly or $2,676 yearly on average. Quotes range from $2,719 to $4,638 annually. Minimum liability runs $1,100 to $2,000 per year. Full coverage adds $1,000 to $3,000 more.
Rates rise in high-risk areas like zip code 19308 in Pennsylvania. Thieves target BMWs. Parts cost 50% more than average cars. M3 drivers see higher premiums from speeding risks. Rates sit 72% above the national full coverage average of $2,700.
| Coverage Type | Average Yearly Cost | Best For |
|---|---|---|
| Liability Only | $1,100 to $2,000 | Low-value cars, tight budgets |
| Full Coverage | $2,200 to $4,600 | Valuable cars like 2021 M3 |
When Full Coverage Pays Off
Your M3 keeps strong resale value. Crash repairs on a five-year-old model exceed $20,000. Thieves go after BMWs. Full coverage protects your money. Drop it only if the car value falls below $10,000 and you drive carefully.
Check these factors:
- Car value: Look up your M3 on Kelley Blue Book.
- Deductible: Choose $500 to $1,000 to lower premiums.
- Driving record: A clean record cuts 20% to 30%.
- Location: Cities boost rates from theft and crashes.
Full coverage costs more upfront. It saves thousands if trouble hits. One crash eats years of liability savings on a high-end car like the M3.
Action Steps
- Get quotes from GEICO, Progressive, and State Farm. They offer full coverage from $177 to $382 monthly.
- Raise your deductible to save 10% to 20%.
- Bundle with home insurance for a 15% discount.
- Track costs with Sidekick to optimize ownership.
Shop rates now. Protect your investment.