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 costs approximately $494 each year, collision costs $952, and liability costs around $264. A liability-only policy costs as low as $312 a year, with high-risk insurance costing around $3,944. Teen drivers pay the most at $6,206 a year or more.
Average premium for full coverage: $1,820
Premium estimates by type of coverage:
Prices include $500 comprehensive and collision deductibles, split liability limits of 30/60, and includes medical and uninsured motorist coverage. Rates include averaging for all 50 states and i7 models.
Insurance Price Range by Risk and Coverage
For an average driver, insurance rates for a BMW i7 go from as cheap as $312 for just liability coverage to a high rate of $3,944 for coverage for higher-risk drivers.
Insurance Price Range by Location
Where you live can make a big difference on the price of auto insurance. Rural locations are statistically proven to have fewer physical damage claims than larger metro areas.
The graphic below illustrates the effect of geographic area on auto insurance prices.
These rate differences illustrate why all drivers should compare prices using their specific location 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.
Detailed Rate Analysis
The chart below illustrates estimated BMW i7 insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $991
- Using higher $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
- Choosing low deductibles for physical damage coverage will cost $2,462
- High-risk insureds with multiple violations and an at-fault accident could pay around $3,944 or more
- An auto insurance policy with full coverage for a 16-year-old driver can cost $6,206 or more
Auto 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.
More mature drivers with a good driving record and high physical damage deductibles may pay as low as $1,700 a year, or $142 per month, for full coverage. Prices are highest for drivers in their teens, where even without any violations or accidents they will have to pay 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 in extra premium annually, depending on your age. Insurance for high-risk drivers can be from 45% to 129% more than average. View High Risk Driver Rates
Choosing high deductibles could cut prices by as much as $970 annually, whereas increasing liability limits will push prices upward. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost up to $237 extra every year. View Rates by Deductible or Liability Limit
Where you choose to live has a huge impact on BMW i7 insurance prices. A driver around age 40 might see prices 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 who has the best car insurance prices is to do a rate comparison from multiple companies. Each insurance company uses a different rate calculation, and quoted prices 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 Right BMW i7 Insurance
Finding better rates on insurance for a BMW i7 requires avoiding accidents and violations, having above-average credit, paying for small claims out-of-pocket, and not having any coverage lapses. Take the time to compare rates at least once a year by requesting quotes from direct insurance companies, and also from insurance agencies where you live.
The list below is a quick rundown of the primary concepts that were covered in the above illustrations.
- It is possible to save around $240 per year simply by quoting online in advance
- Drivers considered higher risk with reckless driving or DUI convictions could be forced to pay on average $2,120 more per year for car insurance
- Increasing policy deductibles could save up to $975 each year
- Teenagers have the highest car insurance prices, 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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