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 an estimated $494 a year, collision costs $952, and liability costs $264. A policy with only liability insurance costs as little as $312 a year, with a high-risk policy costing $3,944 or more. Teen drivers pay the most at $6,206 a year or more.
Average premium for full coverage: $1,820
Premium estimates broken down by type of coverage:
Rates are based on $500 policy deductibles, liability limits of 30/60, and includes uninsured/under-insured motorist coverage. Rates include averaging for all 50 states and i7 trim levels.
Insurance Price Range by Risk and Coverage
For a driver around age 40, insurance rates for a BMW i7 go from as cheap as $312 for your basic liability-only policy to a high of $3,944 for a driver that may need high-risk insurance.
Insurance Price Range by Location
Your location can make a big difference on the price of insurance. More rural locations are statistically proven to have fewer physical damage claims than larger metro areas.
The diagram below illustrates the difference between rural and urban areas on insurance prices.
These rate differences illustrate why it is important to compare rates for a targeted area and their own personal driving habits, instead of making a decision based on 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.
More Rate Information
The chart below illustrates estimated BMW i7 insurance rates for other coverage scenarios.
- The lowest rate with discounts is $991
- Drivers who choose higher $1,000 deductibles will pay approximately $1,494 each year
- The estimated rate for a 40-year-old good driver who has $500 deductibles is $1,820
- Choosing low $100 deductibles for comprehensive and collision insurance costs an additional $642 annually
- Drivers with multiple violations and an at-fault accident could pay up to $3,944 or more
- An auto insurance policy with full coverage for a 16-year-old driver can cost as much as $6,206 a year
Car insurance prices for a BMW i7 also have a wide range based on the model of your i7, your risk profile, and liability limits and deductibles.
Older drivers with no driving violations and high physical damage deductibles may pay as low as $1,700 per year on average, or $142 per month, for full coverage. Prices are highest for drivers in their teens, where even without any violations or accidents they will be charged at least $6,200 a year. View Rates by Age
If you have a few violations or you caused a few accidents, you are probably paying $2,100 to $2,800 extra annually, depending on your age. A high-risk auto insurance policy can cost from 45% to 129% more than average. View High Risk Driver Rates
Choosing high deductibles could save up to $970 annually, while buying higher liability limits will increase premiums. 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 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 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 which insurance company is cheapest is to get quotes from multiple companies. Every company uses a different rate calculation, 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 the Best Cheap BMW i7 Insurance
Finding better rates on insurance for a BMW i7 not only requires avoiding accidents and claims, but also having a good credit score, paying for small claims out-of-pocket, and not having any coverage lapses. Set aside time to compare rates once a year by obtaining price quotes from direct insurance companies, and also from your local independent and exclusive agents.
The points below are a quick review of the data that was covered above.
- It is possible to save approximately $240 per year simply by quoting early and online
- Insureds who want increased liability limits will pay about $290 annually to go from 30/60 bodily injury limits to higher 250/500 limits
- Drivers under the age of 20 have the highest car insurance prices, with premiums being up to $517 per month if comprehensive and collision insurance is included
- Drivers considered higher risk with a DUI or reckless driving violation may pay on average $2,120 more annually to insure a BMW i7
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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