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. Comprehensive costs on average $494, collision costs $952, and liability is estimated at $264. Liability-only coverage costs approximately $312 a year, with high-risk coverage costing around $3,944. Teenage drivers pay the most at $6,206 a year or more.
Average premium for full coverage: $1,820
Premium estimates by type of coverage:
Includes $500 policy deductibles, split liability limits of 30/60, and includes both medical and uninsured motorist insurance. Rates include averaging for all states and for different i7 trim levels.
Insurance Price Range by Risk and Coverage
For a 40-year-old driver, insurance rates for a BMW i7 go from the cheapest price of $312 for minimum levels of liability insurance to a much higher rate of $3,944 for coverage for higher-risk drivers.
Insurance Price Range by Location
Living in a larger city can make a big difference on car insurance rates. Rural areas are statistically proven to have more infrequent accident claims than densely populated cities.
The price range example below illustrates how your location can change car insurance rates.
These rate differences show why anyone shopping for car insurance should get quotes based on a specific location and their own driving history, instead of making a decision based on average rates.
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 shows estimated BMW i7 insurance rates for different risk profiles and scenarios.
- The best discount rate is $991
- Choosing higher $1,000 deductibles can save around $326 a year
- The average price for a 40-year-old good driver with $500 deductibles is $1,820
- Using more expensive low deductibles for comp and collision coverage increases the price to $2,462
- Higher-risk drivers who are prone to accidents and violations could pay upwards of $3,944 or more
- An auto insurance policy to insure a 16-year-old driver with full coverage may cost $6,206 each year
Insurance prices for a BMW i7 also have a wide range based on physical damage deductibles and liability limits, your driver profile, and the trim level of your i7.
Using high physical damage deductibles can save as much as $970 annually, while increasing your policy's liability limits will cost you more. Going from a 50/100 liability limit to a 250/500 limit will cost up to $237 more per year. View Rates by Deductible or Liability Limit
An older driver with a clean driving record and higher deductibles may pay as low as $1,700 annually on average, or $142 per month, for full coverage. Prices are much higher for drivers in their teens, since even excellent drivers can expect to pay upwards of $6,200 a year. View Rates by Age
If you have a few violations or you were responsible for an accident, you could be paying at a minimum $2,100 to $2,800 extra annually, depending on your age. High-risk driver insurance ranges from 45% to 129% more than a normal policy. View High Risk Driver Rates
Where you choose to live plays a big part in determining prices for BMW i7 insurance prices. A good driver about age 40 could pay as low as $1,200 a year in states like Idaho, Maine, and Iowa, or be forced to pay as much as $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% |
With such a large range in prices, the only way to know exactly what you will pay is to compare prices from multiple companies. Each auto insurer uses a different method to calculate prices, so the 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 the Cheapest BMW i7 Insurance
Finding better rates on insurance for a BMW i7 takes being safe and accident-free, having good credit, not filing small claims, and bundling your home and auto policies. Invest the time to shop around at least once a year by quoting rates from direct carriers, and also from local independent and exclusive agents.
Below you'll find a recap of the primary concepts that were illustrated above.
- Drivers can save as much as $240 per year simply by shopping early and online
- Drivers considered higher risk that have major violations or accidents pay an average of $2,120 more each year than a low-risk driver
- Increasing policy deductibles could save as much as $975 each year
- Youthful drivers pay the highest prices, as much as $517 per month if they have full coverage
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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