BMW I7 Insurance Rates
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Michelle Robbins
Licensed Insurance Agent
Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
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UPDATED: Mar 28, 2024
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Average insurance rates for a BMW i7 are $1,820 a year for full coverage. Comprehensive insurance costs on average $494, collision costs $952, and liability insurance is $264. Liability-only coverage costs around $312 a year, with high-risk coverage costing $3,944 or more. 16-year-old drivers receive the highest rates at $6,206 a year or more.
Average premium for full coverage: $1,820
Rate estimates by individual coverage type:
Rate estimates include $500 deductible amounts, liability limits of 30/60, and includes medical and UM/UIM coverage. Rates are averaged for all states and for all i7 models.
Price Range by Coverage and Risk
For a 40-year-old driver, prices range go from the low end price of $312 for just liability insurance to the much higher price of $3,944 for a driver that may need high-risk insurance.
Price Range by Location
Choosing to live in a large city has a significant impact on car insurance rates. Rural areas tend to have lower incidents of accident claims than congested cities.
The example below illustrates how your location can change car insurance rates.
These examples show why everyone should compare rates quotes based on a specific location, rather than relying on rate averages.
Use the form below to get customized rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
More Rate Details
The chart below shows estimated BMW i7 insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $991
- Raising to $1,000 deductibles will save around $326 a year
- The estimated price for a 40-year-old driver with $500 deductibles is $1,820
- Buying pricier low deductibles will cost an additional $642 a year
- Higher-risk drivers with multiple tickets or accidents could pay upwards of $3,944 or more
- The cost that insures a teen driver for full coverage may cost $6,206
Car insurance rates for a BMW i7 can also vary considerably based on the model of your i7, how you drive, and policy deductibles and limits.
If you like to drive fast or you caused an accident, you could be paying at a minimum $2,100 to $2,800 extra per year, depending on your age. BMW i7 insurance for high-risk drivers is expensive and can cost anywhere from 45% to 129% more than the average rate. View High Risk Driver Rates
A more mature driver with no driving violations and higher comprehensive and collision deductibles could pay as little as $1,700 every 12 months on average for full coverage. Rates are highest for teen drivers, since even teens with perfect driving records will be charged upwards of $6,200 a year. View Rates by Age
Where you live also has a big influence on BMW i7 insurance rates. A middle-age driver might find rates as low as $1,200 a year in states like Idaho, Maine, and Iowa, or at least $2,590 on average in Michigan, Louisiana, and New York.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,644 | -$176 | -9.7% |
| Alaska | $1,396 | -$424 | -23.3% |
| Arizona | $1,510 | -$310 | -17.0% |
| Arkansas | $1,820 | -$0 | 0.0% |
| California | $2,074 | $254 | 14.0% |
| Colorado | $1,738 | -$82 | -4.5% |
| Connecticut | $1,868 | $48 | 2.6% |
| Delaware | $2,060 | $240 | 13.2% |
| Florida | $2,272 | $452 | 24.8% |
| Georgia | $1,680 | -$140 | -7.7% |
| Hawaii | $1,308 | -$512 | -28.1% |
| Idaho | $1,234 | -$586 | -32.2% |
| Illinois | $1,356 | -$464 | -25.5% |
| Indiana | $1,370 | -$450 | -24.7% |
| Iowa | $1,230 | -$590 | -32.4% |
| Kansas | $1,728 | -$92 | -5.1% |
| Kentucky | $2,480 | $660 | 36.3% |
| Louisiana | $2,694 | $874 | 48.0% |
| Maine | $1,122 | -$698 | -38.4% |
| Maryland | $1,502 | -$318 | -17.5% |
| Massachusetts | $1,454 | -$366 | -20.1% |
| Michigan | $3,158 | $1,338 | 73.5% |
| Minnesota | $1,524 | -$296 | -16.3% |
| Mississippi | $2,180 | $360 | 19.8% |
| Missouri | $1,616 | -$204 | -11.2% |
| Montana | $1,956 | $136 | 7.5% |
| Nebraska | $1,434 | -$386 | -21.2% |
| Nevada | $2,184 | $364 | 20.0% |
| New Hampshire | $1,312 | -$508 | -27.9% |
| New Jersey | $2,032 | $212 | 11.6% |
| New Mexico | $1,612 | -$208 | -11.4% |
| New York | $1,914 | $94 | 5.2% |
| North Carolina | $1,046 | -$774 | -42.5% |
| North Dakota | $1,490 | -$330 | -18.1% |
| Ohio | $1,258 | -$562 | -30.9% |
| Oklahoma | $1,868 | $48 | 2.6% |
| Oregon | $1,670 | -$150 | -8.2% |
| Pennsylvania | $1,734 | -$86 | -4.7% |
| Rhode Island | $2,426 | $606 | 33.3% |
| South Carolina | $1,648 | -$172 | -9.5% |
| South Dakota | $1,536 | -$284 | -15.6% |
| Tennessee | $1,592 | -$228 | -12.5% |
| Texas | $2,192 | $372 | 20.4% |
| Utah | $1,346 | -$474 | -26.0% |
| Vermont | $1,242 | -$578 | -31.8% |
| Virginia | $1,092 | -$728 | -40.0% |
| Washington | $1,406 | -$414 | -22.7% |
| West Virginia | $1,672 | -$148 | -8.1% |
| Wisconsin | $1,260 | -$560 | -30.8% |
| Wyoming | $1,618 | -$202 | -11.1% |
Opting for high physical damage deductibles can reduce rates by up to $970 each year, whereas buying more liability protection will cost you more. Going from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $237 extra every 12 months. View Rates by Deductible or Liability Limit
With so much variability in rates, the only way to know exactly what you will pay is to regularly compare rates from as many companies as possible. Every auto insurance company utilizes a different rate formula, so rate quotes can be significantly different.
Insurance Rates by Trim Level and Model Year
| Model and Trim | Annual Premium | Monthly Premium |
|---|---|---|
| BMW i7 | $2,202 | $184 |
| BMW i7 | $1,888 | $157 |
Rates assume 2024 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 BMW i7 | $494 | $952 | $264 | $1,820 |
| 2023 BMW i7 | $478 | $930 | $274 | $1,792 |
Rates are averaged for all BMW i7 models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.
How to Find the Best BMW i7 Insurance
Saving money on BMW i7 insurance consists of having a good driving record, having a positive credit history, eliminating unneeded coverage, and maximizing policy discounts. Comparison shop once a year by requesting quotes from direct carriers like Progressive, GEICO, and Esurance, and also from local exclusive and independent agents.
The next list is a brief recap of the data that was illustrated above.
- Drivers can save as much as $240 per year simply by quoting online well ahead of the renewal date
- Drivers who require increased levels of liability coverage will pay around $290 each year to raise from a minimum limit to the 250/500 level
- Drivers age 20 and younger are expensive to insure, costing as high as $517 per month if full coverage is purchased
- High-risk drivers who tend to receive serious violations may pay on average $2,120 more each year to buy BMW i7 insurance
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,206 |
| 20 | $4,186 |
| 30 | $1,944 |
| 40 | $1,820 |
| 50 | $1,654 |
| 60 | $1,624 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,462 |
| $250 | $2,164 |
| $500 | $1,820 |
| $1,000 | $1,494 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,820 |
| 50/100 | $1,941 |
| 100/300 | $2,007 |
| 250/500 | $2,178 |
| 100 CSL | $1,967 |
| 300 CSL | $2,112 |
| 500 CSL | $2,218 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,998 |
| 20 | $6,666 |
| 30 | $4,082 |
| 40 | $3,944 |
| 50 | $3,754 |
| 60 | $3,722 |
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
| Discount | Savings |
|---|---|
| Multi-policy | $103 |
| Multi-vehicle | $93 |
| Homeowner | $22 |
| 5-yr Accident Free | $154 |
| 5-yr Claim Free | $122 |
| Paid in Full/EFT | $99 |
| Advance Quote | $99 |
| Online Quote | $137 |
| Total Discounts | $829 |
Discounts are estimated and may not be available from every company or in every state.
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