The BMW Z3 is a two-seater sports car that has sold incredibly well ever since it hit the market in the mid-90s. Its appearance in the James Bond film GoldenEye certainly helped to give the vehicle some extra prestige. However, it has been criticised in reviews, particularly for its suspension and engine. In this guide, you’ll find out how much it costs to insure a BMW Z3 based on the age and location of the driver.
What insurance group does the BMW Z3 fall under?
All vehicles are assigned a specific insurance group that ranges from 1 (cheapest) to 50 (most expensive) and this helps to determine the cost of your premium. BMW Z3 models range from insurance group 29 to 38, meaning you can expect to pay more to insure this car compared to the average vehicle. As an example, a 30-year-old driver in an average postcode could pay around £680 for cover on a BMW Z3 1.8 2d that is in insurance group 29 or around £1,838 for a BMW Z3 3.0 2d that is in insurance group 39. This is clear impact of the premium pricing that occurs when one car is in a much higher insurance group.
These rates are based on the average cost of cover for cars in the insurance groups shown, for drivers of different ages with a Newcastle (NE1) postcode, which our research suggests represents an average for insurance rates in the UK. Updated: June 2024 (source: Confused).
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There are plenty of other factors that have an impact on the cost of your car insurance premiums. Your location is one of the most important.
To highlight the power of the postcode, here are some average quotes for a 30-year-old living in three different locations. The quotes are for a BMW Z3 2.8 2d Auto.
Expensive: £1,754 (London SE1)
Average: £908 (Newcastle NE1)
Cheap: £923 (Galashiels TD1)
These rates are based on the average cost of cover for cars in the locations shown. Our research suggests SE1 is one of the most expensive locations, NE1 represents an average cost location and TD1 represents one of the cheapest locations. Updated: June 2024 (source: Confused).
Along with insurance group, here are some of the other factors that have the biggest impact on your insurance premium costs:
Engine type and capacity. In general, the larger the engine, the more you’ll pay for your car insurance. For example, it may cost £1,600 for insurance for a BMW Z3 1.9 8V 2d, while you may pay £12,373 for a BMW Z3 3.0 Sport 2d Auto. That’s a £73 more per year for the same vehicle with an engine that’s 1.1 litres larger.
Driver location. Insurers use your home address to determine the level of risk that your car may be stolen or involved in an accident, and this affects the cost of insurance. For example, a 30-year-old in central London may pay £1,600 for insurance for a BMW Z3 1.8 2d, while the same 30-year-old in Newcastle may only pay £680. That’s £135 more per year you’ll pay if you live in London compared to Newcastle.
Driver age. The youngest drivers will pay the most for car insurance because they are the most likely to make a claim. As an example, the average 20-year-old driver in London may pay £22,523 for the BMW Z3 2.2 Sport 2d, while the average 40-year-old Londoner will only pay £1,353. So, in this example, the younger driver will pay almost double to insure this vehicle.
Other factors that influence the cost of your insurance include:
The model and age of your car
Your car’s safety rating score
Your car’s safety rating and security features
Your car’s extra anti-theft precautions
Your annual mileage
Your driving history and activity
Your no-claims discount
Your marital status
Your credit history and job
How can I save on my BMW Z3 premiums?
When hunting for insurance, you will want to find the best deal for a price that’s within your budget. With that in mind, here are some ideas to lower the cost of your premium.
Limit your annual mileage (where possible). If you can reduce your mileage by occasionally deciding to walk or get public transport, instead of using your car, it can help to reduce your premiums.
Pay annually rather than monthly. Some insurers charge you interest when you pay monthly. You can guarantee you’ll avoid this by paying annually instead.
Install extra safety precautions. By installing additional safety measures, you make your car less of a risk to insure. That’s why many insurers are happy to lower your premium when you do so.
Shop around for the best deal using price comparison websites. Don’t just settle for the renewal price offer by your existing insurer. You should always shop around for deals from competitors on price comparison websites. There may be cheaper options out there.
BMW Z3 facts and trivia
This vehicle was awarded the “Design of the Year” and “Best Sports Car” awards by Automobile Magazine in 1999.
A blue BMW Z3 with biege interior leather appeared in James Bond film “Goldeneye” in 1995.
Bottom line
As with most popular and powerful sports cars, the BMW Z3 costs a fair bit to insure. Thankfully, we have the tips in this guide that can help you keep your insurance costs down.
Frequently asked questions
You can expect a BMW Z3 to reach top speeds of 155 miles per hour, depending on the type of model.
The UK standard car tax rate sits at £150 per year. However, you might pay more or less depending on your car’s emissions.
You can buy a BMW Z3 at dealerships, using online sellers or from a current owner.
Engine sizes range between 1.8 litres and 3 litres.
It’s visually pleasing and will turn heads, although it’s generally agreed there are better-performing sports cars in a similar price range.
You can compare the costs of BMW Z3 car insurance using any price comparison website.
BMW Z3 models can be found in insurance groups ranging from 29 to 38. This means you’ll pay more to insure this car compared to insuring the average vehicle.
*Based on data provided by Consumer Intelligence Ltd, www.consumerintelligence.com (July ’24). 51% of car insurance customers could save £523.17
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Danny is a publisher at Finder specialising in insurance and investing. He previously worked at the global insurer Aon and has appeared in national media giving advice on insurance. Danny holds a BA in International Business from the University of Plymouth and has undying loyalty to his average-poor football team, Portsmouth FC. See full bio
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Danny has written 335 Finder guides across topics including:
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