I can tell you, if you have anything like what you stated on your license, your rate will go up ALOT when you purchase an M3. 323 and M3 are not even close to being rated the same vehicle. The M3 is marked as high performance, I bet you insurance will easily double or triple even under your parents.
2002 Porsche 996 C4 Cab (Sold, not missed :))
2005 VW Touareg V8
2002 M3 SMG Vert - Topaz Blue with Blue Top
Sharked, Supersprint Sport Exhaust, Euro Headers, Euro Section 1, Schnell Intake, BC Racing Coilovers (7kg/8kg) 19" BBS LM's, Carbon Front and Rear, Umnitza Angel Eyes, Smoked Side and Turn Signals, Coby Wheel and Shift Knob, RPI Intake Scoops