BMW I7 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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The average auto insurance rates for a BMW i7 are $1,820 annually for full coverage insurance. Comprehensive costs around $494, collision costs $952, and liability costs around $264. Buying just liability costs as low as $312 a year, with insurance for high-risk drivers costing around $3,944. 16-year-old drivers cost the most to insure at $6,206 a year or more.
Average premium for full coverage: $1,820
Policy rates for type of insurance:
Full coverage includes $500 policy deductibles, liability coverage up to 30/60, and includes medical and uninsured motorist coverage. Prices are averaged for all 50 states and for different i7 trim levels.
Price Range Variability
For the average 40-year-old driver, BMW i7 insurance rates go from as cheap as $312 for just liability coverage to a much higher rate of $3,944 for a high-risk driver policy.
Urban vs. Rural Price Range
Where you live can make a big difference on car insurance rates. Areas with sparse population are shown to have fewer physical damage claims than congested cities.
The price range example below illustrates the difference location can make on auto insurance rates.
The examples above illustrate why anyone shopping for car insurance should compare prices for a specific zip code and their own personal driving habits, instead of making a decision based on rate 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 choices and driver risks.
- The best full coverage rate is $991
- Using higher $1,000 deductibles will save about $326 each year
- The estimated rate for a good driver age 40 using $500 deductibles is $1,820
- Buying more expensive low deductibles for physical damage coverage will cost $2,462
- High-risk insureds with multiple tickets or accidents could pay at least $3,944 or more
- Policy cost with full coverage for a 16-year-old driver with full coverage can be $6,206 or more
Insurance rates for a BMW i7 also range considerably based on the model year and trim level, your risk profile, and deductibles and policy limits.
An older driver with a clean driving record and high physical damage deductibles may pay as low as $1,700 a year, or $142 per month, for full coverage. Rates are highest for teenagers, where even without any violations or accidents they can expect to pay as much as $6,200 a year. View Rates by Age
If you have a few points on your driving record or you caused a few accidents, you are probably paying at least $2,100 to $2,800 extra every year, depending on your age. High-risk driver insurance can be from 45% to 129% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles could cut rates by as much as $970 annually, while increasing your policy's liability limits will increase rates. Switching from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $237 more per year. View Rates by Deductible or Liability Limit
Your home state has a huge impact on BMW i7 insurance prices. A driver around age 40 might see rates as low as $1,190 a year in states like Vermont, Wisconsin, and North Carolina, or at least $2,450 on average in Michigan, New York, and Florida.
| 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% |
Because rates have so much variability, the only way to figure out your exact price is to compare rates from multiple companies. Each insurance company utilizes a different rate formula, so the rates will be varied 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 More Affordable BMW i7 Insurance
Finding cheaper rates on insurance for a BMW i7 requires being safe and accident-free, having a good credit history, being claim-free, and insuring your home and auto with the same company. Make time to compare rates every time your policy renews by requesting rates from direct insurance companies like Progressive, GEICO, and Esurance, and also from several local insurance agents.
Below you'll find a summary of the information touched on in this article.
- It is possible to save up to $240 per year simply by shopping early and online
- Youthful drivers pay higher rates, possibly costing $517 each month including comprehensive and collision insurance
- Increasing comprehensive and collision deductibles could save up to $975 each year
- Drivers considered higher risk who have multiple accidents or major violations pay on average $2,120 more every year than a low-risk driver
- Insureds who may need more liability protection will pay around $290 annually to increase from a 30/60 limit to higher 250/500 limits
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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