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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Average insurance prices for a BMW i7 are $1,820 every 12 months for full coverage insurance. Comprehensive insurance costs approximately $494, collision insurance costs $952, and liability coverage costs $264. A liability-only policy costs as little as $312 a year, and high-risk insurance costs $3,944 or more. Teen drivers receive the highest rates at up to $6,206 a year.
Average premium for full coverage: $1,820
Rate estimates by individual coverage type:
Estimates include $500 comprehensive and collision deductibles, 30/60 bodily injury liability limits, and includes medical and UM/UIM coverage. Rates are averaged for all 50 states and for different i7 trim levels.
Price Range by Coverage and Risk
For a driver around age 40, prices range range from the cheapest price of $312 for just liability insurance to a much higher rate of $3,944 for a driver who requires high-risk insurance.
Price Range by Location
Your location has a large influence on the price of auto insurance. Rural locations tend to have more infrequent physical damage claims than larger metro areas. The price range example below illustrates the difference between rural and urban areas on auto insurance prices.
These examples illustrate why anyone shopping for car insurance should compare rates using their specific location and their own driving history, 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.
More Rate Details
The chart below illustrates average BMW i7 insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $991
- Drivers who choose higher $1,000 deductibles will pay $326 each year
- The average price for a 40-year-old driver who chooses $500 deductibles is $1,820
- Choosing more expensive low deductibles for comprehensive and collision insurance costs an extra $642 each year
- High-risk insureds with multiple violations and an at-fault accident could pay around $3,944
- The cost to insure a teenage driver with full coverage can cost $6,206 a year
Insurance rates for a BMW i7 can also vary considerably based on policy deductibles and limits, your risk profile, and the model of your i7.
Choosing high deductibles could save up to $970 a year, while increasing your policy's liability limits will push rates upward. Switching from a 50/100 liability limit to a 250/500 limit will cost as much as $237 more per year. View Rates by Deductible or Liability Limit
An older driver with a clean driving record and higher deductibles may only pay around $1,700 per year on average for full coverage. Rates are highest for teen drivers, since even excellent drivers can expect to pay in the ballpark of $6,200 a year. View Rates by Age
If you like to drive fast or you were responsible for an accident, you are probably paying anywhere from $2,100 to $2,800 extra per year, depending on your age. High-risk driver insurance can cost around 45% to 129% more than average. View High Risk Driver Rates
Where you live makes a big difference in BMW i7 insurance rates. 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% |
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
Saving money on auto insurance not only requires having a decent driving record, but also having good credit, avoid buying unnecessary coverage, and possibly raising deductibles. Set aside time to compare rates at every other renewal by obtaining price quotes from direct insurance companies like GEICO, Progressive, and Esurance, and also from local insurance agencies.
The following items are a review of the concepts that were covered above.
- Drivers who have several accidents or serious violations may have to pay on average $2,120 more per year than a driver with a clean driving record
- 16 to 18-year-old drivers are expensive to insure, costing up to $517 per month if they have full coverage
- It is possible to save around $240 per year just by shopping early and online
- Increasing deductibles could save as much as $975 each year
- It is possible to save around $240 per year just by shopping early and online
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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