BMW I7 Insurance Rates
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Michelle Robbins
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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 auto insurance rates for a BMW i7 are $1,820 annually for full coverage insurance. Comprehensive insurance costs on average $494, collision costs $952, and liability costs $264. Liability-only coverage costs as little as $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:
Full coverage includes $500 comprehensive and collision deductibles, liability limits of 30/60, and includes both medical and uninsured motorist insurance. Rates are averaged for all 50 states and for all i7 models.
Price Range by Coverage and Risk
For the average 40-year-old driver, prices range go from as cheap as $312 for minimum levels of liability insurance to the much higher price of $3,944 for a driver that may need high-risk insurance.
Price Range by Location
Your location can have significant affects on insurance rates. Rural areas tend to have fewer physical damage claims than congested cities.
The example below illustrates the difference location can make on car insurance rates.
These examples illustrate why everyone should compare rates based on a specific location and their own personal driving habits, instead of using 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.
Additional Rate Details
The chart below illustrates estimated BMW i7 insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $991
- Drivers who choose higher $1,000 deductibles will pay around $326 each year
- The estimated rate for a 40-year-old driver with $500 deductibles is $1,820
- Buying pricier low deductibles for comprehensive and collision insurance costs an additional $642 every year
- Higher-risk drivers with multiple tickets or accidents could pay upwards of $3,944 or more
- The cost with full coverage for a teen driver for full coverage may cost $6,206 a year
Car insurance rates for a BMW i7 can also vary considerably based on the trim level of your i7, your risk profile, and policy deductibles and limits.
A more mature driver with no driving violations and high physical damage deductibles may pay as little as $1,700 per year on average for full coverage. Rates are highest for teen drivers, where even without any violations or accidents they will be charged upwards of $6,200 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you are probably paying at a minimum $2,100 to $2,800 extra per year, depending on your age. BMW i7 insurance for high-risk drivers can cost as much as 45% to 129% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles could save up to $970 every year, whereas buying more liability protection will cost you more. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $237 extra every 12 months. View Rates by Deductible or Liability Limit
Where you live makes a big difference in BMW i7 insurance prices. A 40-year-old driver could pay as low as $1,190 a year in states like Vermont, Wisconsin, and North Carolina, or at least $2,450 on average in Michigan, New York, and Florida.
| 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% |
With so much variability in rates, the only way to figure out exactly what you will pay is to regularly compare rates and see which company has the best rate. Every company utilizes a different rate formula, so rate quotes can be significantly different between companies.
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 Buy More Affordable BMW i7 Insurance
Saving money on car insurance not only requires having a decent driving record, but also having a good credit score, avoid buying unnecessary coverage, and maximizing policy discounts. Make time to compare rates once a year by requesting quotes from direct insurance companies like Progressive and GEICO, and also from local exclusive and independent agents.
The following items are a summary of the data that was touched on in this article.
- It is possible to save as much as $240 per year simply by quoting online well ahead of the renewal date
- Policyholders who require additional liability coverage will pay around $290 annually to go from a minimum limit to higher 250/500 limits
- 16 to 18-year-old drivers are expensive to insure, costing up to $517 per month if comprehensive and collision insurance is included
- Higher risk drivers who have multiple accidents or major violations may pay on average $2,120 more each year than a driver with a clean driving record
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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