BMW I7 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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The average insurance rates for a BMW i7 are $1,820 a year with full coverage. Comprehensive insurance costs an estimated $494, collision insurance costs $952, and liability is $264. Buying just liability costs around $312 a year, and insurance for high-risk drivers costs $3,944 or more. 16-year-old drivers cost the most to insure at up to $6,206 a year.
Average premium for full coverage: $1,820
Policy rates broken down by type of insurance:
Includes $500 comprehensive and collision deductibles, split liability limits of 30/60, and includes additional medical/uninsured motorist coverage. Prices are averaged for all U.S. states and for different i7 trim levels.
Price Range Variability
Using a 40-year-old driver as an example, BMW i7 insurance rates range from as low as $312 for just the minimum liability insurance to a much higher rate of $3,944 for coverage for higher-risk drivers.
Urban vs. Rural Price Range
Choosing to live in a large city can make a big difference on car insurance rates. More rural locations are shown to have a lower frequency of collision claims than congested cities. The price range example below illustrates how rural and urban location affects insurance prices.
The examples above demonstrate why anyone shopping for car insurance should compare rates quotes for a targeted area and risk profile, 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.
Additional Rate Analysis
The chart below details average BMW i7 insurance rates for other coverage scenarios.
- The best full coverage rate is $991
- Raising to $1,000 deductibles will save approximately $326 annually
- The average rate for a good driver age 40 who has $500 deductibles is $1,820
- Buying more expensive low deductibles will cost an extra $642 annually
- Drivers with multiple tickets or accidents could pay up to $3,944
- Policy cost for full coverage for a 16-year-old driver with full coverage can cost as much as $6,206
Insurance rates for a BMW i7 also range considerably based on your risk profile, the trim level and model year, and liability limits and deductibles.
An older driver with a clean driving record and high deductibles may pay as low as $1,700 every 12 months on average, or $142 per month, for full coverage. Rates are highest for teenagers, where even good drivers can expect to pay at least $6,200 a year. View Rates by Age
Your home state also has a big influence on BMW i7 insurance prices. A middle-age driver might find rates as low as $1,310 a year in states like Utah, Ohio, and New Hampshire, or at least $2,450 on average in New York, Michigan, 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% |
Opting for high physical damage deductibles can reduce rates by up to $970 annually, while increasing your policy's liability limits will increase premiums. Moving from a 50/100 limit to a 250/500 limit will raise rates by up to $237 more per year. View Rates by Deductible or Liability Limit
If you have a few points on your driving record or tend to cause accidents, you may be forking out $2,100 to $2,800 extra every year, depending on your age. High-risk driver insurance is expensive and can cost from 45% to 129% more than the average rate. View High Risk Driver Rates
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 the Cheapest BMW i7 Insurance
Finding cheaper rates on insurance for a BMW i7 consists of avoiding accidents and violations, maintaining good credit, not filing small claims, and deciding if full coverage is necessary. Set aside time to shop around at least once a year by getting quotes from direct companies like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.
The list below is a recap of the primary concepts that were raised in the charts and tables above.
- You may be able to save approximately $240 per year just by shopping early and online
- Drivers considered higher risk that have major violations or accidents may pay on average $2,120 more annually for car insurance
- Increasing comprehensive and collision deductibles can save around $975 each year
- Teenagers are charged the highest rates, as much as $517 each month for full coverage
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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