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 auto insurance rates for a BMW i7 are $1,820 annually for full coverage insurance. Comprehensive insurance costs approximately $494, collision costs $952, and liability is $264. A policy with only liability insurance costs around $312 a year, with a high-risk policy costing $3,944 or more. 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:
Price estimates include $500 comprehensive and collision deductibles, minimum liability limits, and includes additional medical/uninsured motorist coverage. Rates include averaging for all 50 states and for all i7 models.
Insurance Price Range by Risk and Coverage
For the normal driver, insurance rates for a BMW i7 go from as cheap as $312 for just the minimum liability insurance to the much higher price of $3,944 for high-risk insurance.
Insurance Price Range by Location
Choosing to live in a large city can make a big difference on the price of auto insurance. Rural locations are statistically proven to have fewer physical damage claims than densely populated cities.
The example below illustrates how geographic area affects auto insurance prices.
These rate differences illustrate why everyone should compare rates quotes using their specific location and their own personal driving habits, 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 Analysis
The chart below illustrates estimated BMW i7 insurance rates for additional coverage and risk scenarios.
- The best discount rate is $991
- Raising to $1,000 deductibles will save $326 each year
- The estimated rate for a 40-year-old good driver who chooses $500 deductibles is $1,820
- Using pricier low deductibles costs an additional $642 annually
- Drivers who are prone to accidents and violations could pay around $3,944 or more
- An auto insurance policy with full coverage for a 16-year-old driver for full coverage can cost $6,206
Car insurance prices for a BMW i7 also have a wide range based on the model of your i7, your risk profile, and physical damage deductibles and liability limits.
A more mature driver with no driving violations and high physical damage deductibles may pay as low as $1,700 every 12 months on average, or $142 per month, for full coverage. Prices are much higher for drivers in their teens, where even without any violations or accidents they will be charged in the ballpark of $6,200 a year. View Rates by Age
If you have a few violations or you caused a few accidents, you are probably paying anywhere from $2,100 to $2,800 extra annually, depending on your age. BMW i7 insurance for high-risk drivers is expensive and can cost from 45% to 129% more than a normal policy. View High Risk Driver Rates
Using high physical damage deductibles can reduce prices by up to $970 annually, whereas buying more liability protection will push prices upward. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost up to $237 extra every 12 months. View Rates by Deductible or Liability Limit
Where you choose to live also has a big influence on BMW i7 insurance prices. A middle-age driver might find prices as low as $1,190 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $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 regularly compare prices from multiple companies. Every auto insurance company uses a different method to calculate prices, so rate quotes will be substantially 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 Cheaper BMW i7 Insurance
Finding better rates on insurance for a BMW i7 consists of having a decent driving record, having a good credit score, paying for small claims out-of-pocket, and avoiding coverage lapses. Invest the time to compare rates every couple of years by getting rate quotes from direct insurance companies, and also from insurance agencies where you live.
The following items are a condensed summary of the material that was presented in the illustrations above.
- Insureds who purchase additional liability coverage will pay an extra $290 annually to raise from 30/60 bodily injury limits to higher 250/500 limits
- 16 to 18-year-old drivers pay the highest auto insurance prices, with premiums being up to $517 per month if comprehensive and collision insurance is included
- Drivers considered higher risk with multiple at-fault accidents could be forced to pay on average $2,120 more per year than a driver with a clean driving record
- Increasing policy deductibles could save up to $975 each year
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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