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 rates for a BMW i7 are $1,820 a year for full coverage insurance. Comprehensive costs an estimated $494, collision costs $952, and liability insurance costs $264. A liability-only policy costs as little as $312 a year, with high-risk insurance costing around $3,944. 16-year-old drivers receive the highest rates at $6,206 a year or more.
Average premium for full coverage: $1,820
Rate estimates broken down by individual coverage type:
Estimates include $500 physical damage insurance deductibles, liability coverage up to 30/60, and includes additional medical/uninsured motorist coverage. Rates are averaged for all 50 states and for all i7 models.
Price Range by Coverage and Risk
Using a middle-aged driver as an example, prices range go from the low end price of $312 for just the minimum liability insurance to the much higher price of $3,944 for a high-risk driver policy.
Price Range by Location
Your location has a significant impact on the price of insurance. More rural locations tend to have lower incidents of physical damage claims than congested cities.
The example below illustrates how where you live affects insurance prices.
These examples illustrate why everyone should compare rates for a targeted area, rather than relying 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.
Additional Rate Analysis
The chart below illustrates estimated BMW i7 insurance rates for other coverage scenarios.
- The best full coverage rate is $991
- Drivers who choose higher $1,000 deductibles will pay approximately $326 each year
- The estimated price for a 40-year-old driver who has $500 deductibles is $1,820
- Buying pricier low deductibles for comprehensive and collision insurance bumps up the cost to $2,462
- High risk drivers with multiple tickets or accidents could pay up to $3,944 or more
- The cost that insures a teen driver for full coverage can cost as much as $6,206 a year
Insurance rates for a BMW i7 can also vary considerably based on the model of your i7, your age and driving record, and liability limits and deductibles.
If you like to drive fast or you caused an accident, you are probably paying $2,100 to $2,800 extra per year, depending on your age. BMW i7 insurance for high-risk drivers can cost anywhere from 45% to 129% more than the average rate. View High Risk Driver Rates
A more mature driver with a clean driving record and higher comprehensive and collision deductibles could pay as little as $1,700 per year on average for full coverage. Rates are highest for teen drivers, since even teens with perfect driving records can expect to pay at least $6,200 a year. View Rates by Age
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 at least $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% |
Opting for high physical damage deductibles could save up to $970 each year, whereas buying more liability protection will increase premiums. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $237 more per year. View Rates by Deductible or Liability Limit
With so much variability in rates, the only way to figure out which company is cheapest is to regularly compare rates from as many companies as possible. Every company utilizes a different rate formula, so the rates can be significantly different.
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 Find Low Cost BMW i7 Insurance
Saving money on BMW i7 insurance not only requires being a low-risk driver, but also having above-average credit, avoid buying unnecessary coverage, and taking advantage of discounts. Comparison shop every time your policy renews by obtaining price quotes from direct insurance companies like Progressive, GEICO, and Esurance, and also from local insurance agencies.
The items below are a review of the information touched on in the above illustrations.
- It is possible to save approximately $240 per year simply by quoting online well ahead of the renewal date
- Teen drivers are charged the highest rates, costing up to $517 per month if full coverage is included
- Increasing deductibles can save approximately $975 each year
- High-risk drivers who have several accidents or serious violations may have to pay on average $2,120 more annually to insure their i7
- Drivers who want more liability coverage will pay around $290 annually to go from a minimum limit to the 250/500 level
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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