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I think you are in luck if you rent from Sixt in Italy! $100/day for a 3-series. But looks like you'll need to pick it up at one of their Tuscan offices. I thought you are planning on entering and departing from a German destination?
The Volvo wagon we rented was $400 total for 12 days! Unlimited mileage. I felt comfortable enough driving and knowing that we would be parking overnight on US military bases (secure) that I waived the insurance. That would have been about $50/day.
I was really bummed to not be able to drive that 3500km vacation in a new 3 series. I wish you the best of luck in getting behind the wheel of one! I'm sure it will be a great driving experience!
Hope you'll report back after you return. This is some very helpful info for anyone venturing into Europe who will be driving.
Buon viaggio!
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