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 prices for a BMW i7 are $1,844 every 12 months with full coverage. Comprehensive insurance costs an estimated $516, collision costs $960, and liability coverage costs around $258. Buying just liability costs as low as $306 a year, with insurance for high-risk drivers costing $3,984 or more. Teen drivers receive the highest rates at $6,240 a year or more.
Average premium for full coverage: $1,844
Rate estimates broken down by individual coverage type:
These estimates include $500 comprehensive and collision deductibles, 30/60 liability coverage, and includes additional medical/uninsured motorist coverage. Rates are averaged for all U.S. states and for all i7 models.
Price Range by Coverage and Risk
For a driver in their 40's, prices range go from the cheapest price of $306 for just the minimum liability insurance to the much higher price of $3,984 for a policy for a high-risk driver.
Price Range by Location
Where you live has a large influence on car insurance rates. More rural locations tend to have more infrequent collision claims than larger metro areas.
The example below illustrates how location helps determine insurance prices.
These examples demonstrate why everyone should compare prices for a targeted area and their own driving history, rather than using price 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.
Additional Rate Analysis
The chart below details estimated BMW i7 insurance rates for other coverage scenarios.
- The lowest rate with discounts is $1,006
- Using higher $1,000 deductibles will save approximately $334 annually
- The average price for a 40-year-old driver who has $500 deductibles is $1,844
- Choosing pricier low deductibles for physical damage coverage costs an extra $652 each year
- Higher-risk drivers with multiple violations and an at-fault accident could pay up to $3,984 or more
- The cost to insure a teenage driver for full coverage can cost as much as $6,240 or more
Auto insurance rates for a BMW i7 can also vary considerably based on policy deductibles and limits, your driving record, and the model year and trim level.
Choosing high deductibles could cut rates by as much as $990 a year, whereas buying more liability protection will increase premiums. Moving from a 50/100 liability limit to a 250/500 limit will cost as much as $232 extra every year. View Rates by Deductible or Liability Limit
A more mature driver with a good driving record and higher deductibles may only pay around $1,700 a year for full coverage. Rates are highest for teen drivers, since even excellent drivers will have to pay at least $6,200 a year. View Rates by Age
If you like to drive fast or you were responsible for an accident, you may be forking out $2,200 to $2,900 in extra premium per year, depending on your age. BMW i7 insurance for high-risk drivers can be around 46% to 134% more than average. View High Risk Driver Rates
Where you live has a huge impact on BMW i7 insurance rates. A driver around age 40 might see rates as low as $1,330 a year in states like Utah, Ohio, and New Hampshire, or as much as $2,480 on average in New York, Michigan, and Florida.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,666 | -$178 | -9.7% |
| Alaska | $1,414 | -$430 | -23.3% |
| Arizona | $1,530 | -$314 | -17.0% |
| Arkansas | $1,844 | -$0 | 0.0% |
| California | $2,100 | $256 | 13.9% |
| Colorado | $1,760 | -$84 | -4.6% |
| Connecticut | $1,892 | $48 | 2.6% |
| Delaware | $2,086 | $242 | 13.1% |
| Florida | $2,302 | $458 | 24.8% |
| Georgia | $1,702 | -$142 | -7.7% |
| Hawaii | $1,324 | -$520 | -28.2% |
| Idaho | $1,248 | -$596 | -32.3% |
| Illinois | $1,374 | -$470 | -25.5% |
| Indiana | $1,388 | -$456 | -24.7% |
| Iowa | $1,244 | -$600 | -32.5% |
| Kansas | $1,750 | -$94 | -5.1% |
| Kentucky | $2,512 | $668 | 36.2% |
| Louisiana | $2,728 | $884 | 47.9% |
| Maine | $1,134 | -$710 | -38.5% |
| Maryland | $1,520 | -$324 | -17.6% |
| Massachusetts | $1,472 | -$372 | -20.2% |
| Michigan | $3,200 | $1,356 | 73.5% |
| Minnesota | $1,544 | -$300 | -16.3% |
| Mississippi | $2,208 | $364 | 19.7% |
| Missouri | $1,634 | -$210 | -11.4% |
| Montana | $1,980 | $136 | 7.4% |
| Nebraska | $1,450 | -$394 | -21.4% |
| Nevada | $2,210 | $366 | 19.8% |
| New Hampshire | $1,330 | -$514 | -27.9% |
| New Jersey | $2,058 | $214 | 11.6% |
| New Mexico | $1,630 | -$214 | -11.6% |
| New York | $1,938 | $94 | 5.1% |
| North Carolina | $1,058 | -$786 | -42.6% |
| North Dakota | $1,508 | -$336 | -18.2% |
| Ohio | $1,272 | -$572 | -31.0% |
| Oklahoma | $1,892 | $48 | 2.6% |
| Oregon | $1,690 | -$154 | -8.4% |
| Pennsylvania | $1,758 | -$86 | -4.7% |
| Rhode Island | $2,458 | $614 | 33.3% |
| South Carolina | $1,670 | -$174 | -9.4% |
| South Dakota | $1,556 | -$288 | -15.6% |
| Tennessee | $1,614 | -$230 | -12.5% |
| Texas | $2,218 | $374 | 20.3% |
| Utah | $1,364 | -$480 | -26.0% |
| Vermont | $1,258 | -$586 | -31.8% |
| Virginia | $1,106 | -$738 | -40.0% |
| Washington | $1,422 | -$422 | -22.9% |
| West Virginia | $1,690 | -$154 | -8.4% |
| Wisconsin | $1,274 | -$570 | -30.9% |
| Wyoming | $1,642 | -$202 | -11.0% |
With so much variability in rates, the best way to find out which company is cheapest is to regularly compare rates and see how they stack up. Each insurance company uses a different rate calculation, and quoted rates can be significantly different.
Insurance Rates by Trim Level and Model Year
| Model and Trim | Annual Premium | Monthly Premium |
|---|---|---|
| BMW i7 | $2,216 | $185 |
| BMW i7 | $1,912 | $159 |
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 | $516 | $960 | $258 | $1,844 |
| 2023 BMW i7 | $494 | $952 | $264 | $1,820 |
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 Shop for Cheap BMW i7 Insurance
Saving money on auto insurance requires avoiding accidents and violations, having a good credit score, eliminating unnecessary coverage, and qualifying for all possible discounts. Invest time comparing rates every year by getting rate quotes from direct companies like GEICO, Progressive, and Esurance, and also from your local independent and exclusive agents.
The list below is a brief summary of the coverage data covered in the charts and tables above.
- You may be able to save approximately $240 per year simply by quoting online well ahead of the renewal date
- Increasing deductibles could save as much as $975 each year
- Teenagers are the costliest to insure, with premiums as much as $520 per month if comprehensive and collision insurance is included
- Drivers that tend to have accidents or serious violations may pay on average $2,140 more annually for car insurance
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,240 |
| 20 | $4,224 |
| 30 | $1,968 |
| 40 | $1,844 |
| 50 | $1,674 |
| 60 | $1,644 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,496 |
| $250 | $2,192 |
| $500 | $1,844 |
| $1,000 | $1,510 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,844 |
| 50/100 | $1,964 |
| 100/300 | $2,028 |
| 250/500 | $2,196 |
| 100 CSL | $1,989 |
| 300 CSL | $2,131 |
| 500 CSL | $2,235 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,050 |
| 20 | $6,722 |
| 30 | $4,122 |
| 40 | $3,984 |
| 50 | $3,792 |
| 60 | $3,758 |
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 | $104 |
| Multi-vehicle | $93 |
| Homeowner | $23 |
| 5-yr Accident Free | $156 |
| 5-yr Claim Free | $123 |
| Paid in Full/EFT | $100 |
| Advance Quote | $100 |
| Online Quote | $139 |
| Total Discounts | $838 |
Discounts are estimated and may not be available from every company or in every state.
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