BMW I7 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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The average insurance rates for a BMW i7 are $1,844 a year including full coverage. Comprehensive costs an estimated $516, collision insurance costs $960, and liability coverage is $258. Liability-only insurance costs around $306 a year, and high-risk driver insurance costs around $3,984. Teen drivers cost the most to insure at up to $6,240 a year.
Average premium for full coverage: $1,844
Policy rates broken down by type of insurance:
Includes $500 policy deductibles, liability limits of 30/60, and includes UM/UIM and medical coverage. Prices are averaged for all 50 U.S. states and for different i7 trim levels.
Price Range Variability
Using a middle-aged driver as an example, BMW i7 insurance rates range from as low as $306 for a discount liability-only rate to a much higher rate of $3,984 for a driver that may need high-risk insurance.
Urban vs. Rural Price Range
Choosing to live in a large city has a large influence on the price of auto insurance. More rural locations are shown to have a lower frequency of comprehensive and collision claims than larger metro areas. The price range example below illustrates how where you live affects insurance prices.
The examples above highlight why anyone shopping for car insurance should compare rates quotes for a targeted area and risk profile, 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.
Rates by State, City, and Model
The chart below breaks down average BMW i7 insurance rates for other coverage scenarios.
- The lowest rate with discounts is $1,006
- Raising to $1,000 deductibles will save approximately $334 every year
- The average rate for a good driver age 40 who has $500 deductibles is $1,844
- Choosing more expensive low deductibles will increase the cost to $2,496
- Unlucky drivers with multiple violations and an at-fault accident could pay up to $3,984
- Policy cost for full coverage for a teenage driver with full coverage can cost as much as $6,240
Auto insurance rates for a BMW i7 also range considerably based on your risk profile, the model of your i7, and liability limits and deductibles.
An older driver with a good driving record and high deductibles may only pay around $1,700 every 12 months on average, or $142 per month, for full coverage. Rates are highest for teenagers, where even good drivers will have to pay at least $6,200 a year. View Rates by Age
Your home state also has a big influence on BMW i7 insurance rates. A middle-age driver might find rates as low as $1,410 a year in states like Vermont, New Hampshire, and Missouri, or as much as $2,630 on average in Louisiana, New York, and Michigan.
| 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% |
Choosing high deductibles can reduce rates by up to $990 a year, while increasing your policy's liability limits will increase premiums. Changing from a 50/100 limit to a 250/500 limit will raise rates by up to $232 extra every year. View Rates by Deductible or Liability Limit
If you have a few points on your driving record or tend to cause accidents, you are likely paying $2,200 to $2,900 in extra premium every year, depending on your age. High-risk driver insurance is expensive and can cost around 46% to 134% more than average. View High Risk Driver Rates
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 Find the Cheapest BMW i7 Insurance
Finding cheaper rates on auto insurance consists of being a good driver, having good credit, paying for small claims out-of-pocket, and consideration of higher deductibles. Take the time to comparison shop once a year by requesting quotes from direct car insurance companies like GEICO, Progressive, and Esurance, and also from your local independent and exclusive agents.
The following list is a recap of the data that was touched on in the above illustrations.
- You may be able to save approximately $240 per year just by shopping early and online
- Consumers who want an increased level of liability coverage will pay about $280 per year to raise from a 30/60 limit to 250/500 limits
- Drivers age 16 to 20 are the costliest to insure, with premiums being up to $520 each month if they have full coverage
- Drivers that have major violations or accidents may pay on average $2,140 more annually than a safer driver
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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