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...
Licensed Insurance Agent
UPDATED: Mar 28, 2024
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Estimated insurance prices for a BMW i7 are $1,820 every 12 months for full coverage insurance. Comprehensive insurance costs approximately $494, collision costs $952, and liability costs $264. Liability-only insurance costs as little as $312 a year, with high-risk driver insurance costing $3,944 or more. Teens pay the most at $6,206 a year or more.
Average premium for full coverage: $1,820
Premium estimates by type of coverage:
Estimates include $500 comprehensive and collision deductibles, split liability limits of 30/60, and includes UM/UIM and medical coverage. Rates include averaging for all 50 states and for different i7 trim levels.
Insurance Price Range by Risk and Coverage
For a driver around age 40, insurance rates for a BMW i7 go from the cheapest price of $312 for a discount liability-only rate to a much higher rate of $3,944 for coverage for higher-risk drivers.
Insurance Price Range by Location
Your location can have significant affects on the price of auto insurance. Rural locations are statistically proven to have more infrequent physical damage claims than cities with more traffic congestion.
The price range example below illustrates the difference between rural and urban areas on auto insurance prices.
These rate differences illustrate why anyone shopping for car insurance should compare rates using their specific location and their own driving history, instead of using averaged prices.
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 illustrates estimated BMW i7 insurance rates for additional coverage and risk scenarios.
- The cheapest rate after discounts is $991
- Drivers who choose higher $1,000 deductibles will pay $326 each year
- The average price for a 40-year-old good driver who chooses $500 deductibles is $1,820
- Selecting more expensive low deductibles for comprehensive and collision insurance costs an extra $642 every year
- Higher-risk drivers with serious driving violations could pay around $3,944 or more
- An auto insurance policy to insure a teen driver with full coverage can cost $6,206 a year
Insurance prices for a BMW i7 also have a wide range based on physical damage deductibles and liability limits, your risk profile, and the model of your i7.
Choosing higher comprehensive and collision insurance deductibles could save up to $970 every year, while increasing your policy's liability limits will push prices upward. Switching from a 50/100 liability limit to a 250/500 limit will cost up to $237 more each year. View Rates by Deductible or Liability Limit
An older driver with no violations or accidents and higher deductibles may pay as little as $1,700 per year on average, or $142 per month, for full coverage. Prices are much higher for drivers in their teens, since even excellent drivers should be prepared to pay in the ballpark of $6,200 a year. View Rates by Age
If you have a few violations or you were responsible for an accident, you are probably paying anywhere from $2,100 to $2,800 additional annually, depending on your age. High-risk driver insurance can cost as much as 45% to 129% more than the average policy. View High Risk Driver Rates
Where you choose to 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 North Carolina, Wisconsin, and Vermont, or have to pay at least $2,450 on average in Florida, New York, and Michigan.
| 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 such a large range in prices, the only way to figure out who has the best car insurance prices is to compare prices and see which company has the best price. Every company calculates prices differently, and prices will be substantially 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 Shop for Low Cost BMW i7 Insurance
Finding better rates on car insurance not only requires avoiding accidents and violations, but also having above-average credit, paying for small claims out-of-pocket, and qualifying for all possible discounts. Set aside time to compare rates at least once a year by requesting quotes from direct insurance companies, and also from local insurance agencies.
The list below is a review of the primary concepts that were covered above.
- It is possible to save around $240 per year simply by shopping early and online
- Higher risk drivers who have several accidents or serious violations may have to pay on average $2,120 more per year for car insurance
- Increasing policy deductibles could save as much as $975 each year
- Teenagers are the costliest to insure, with premiums being up to $517 per month if full coverage is included
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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