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 $1,844 annually for full coverage. Comprehensive costs approximately $516 a year, collision costs $960, and liability insurance is estimated at $258. Liability-only insurance costs approximately $306 a year, with high-risk driver insurance costing around $3,984. Teenage drivers cost the most to insure at $6,240 a year or more.
Average premium for full coverage: $1,844
Policy rates by type of insurance:
These estimates include $500 comprehensive and collision deductibles, 30/60 bodily injury liability limits, and includes medical and uninsured motorist coverage. Prices are averaged for all states and i7 trim levels.
Price Range Variability
For the average driver, BMW i7 insurance rates go from as cheap as $306 for just liability coverage to a high of $3,984 for a driver who requires high-risk insurance.
Urban vs. Rural Price Range
Living in a larger city has a significant impact on car insurance rates. Rural locations are shown to have fewer accident claims than densely populated cities.
The diagram below illustrates how location impacts auto insurance prices.
The examples above show why it is important to get quotes using their specific location and their own personal driving habits, rather than relying on average rates.
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 shows estimated BMW i7 insurance rates for additional coverage and risk scenarios.
- The best discount rate is $1,006
- Choosing higher $1,000 deductibles can save $1,510 a year
- The estimated rate for a good driver age 40 who chooses $500 deductibles is $1,844
- Using low $100 deductibles for comp and collision coverage will cost $2,496
- High-risk insureds who are prone to accidents and violations could pay around $3,984 or more
- Policy cost with full coverage for a teen driver can cost $6,240 each year
Auto insurance rates for a BMW i7 also range considerably based on the model year and trim level, your driver profile, and physical damage deductibles and liability limits.
Older drivers with a good driving record and high physical damage deductibles could pay as little as $1,700 annually on average, or $142 per month, for full coverage. Rates are much higher for teenagers, 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 points on your driving record or you caused a few accidents, you could be paying anywhere from $2,200 to $2,900 in extra premium every year, depending on your age. A high-risk auto insurance policy ranges anywhere from 46% to 134% more than a normal policy. View High Risk Driver Rates
Using high physical damage deductibles can save as much as $990 each year, while buying higher liability limits will push rates upward. Going from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $232 extra every year. View Rates by Deductible or Liability Limit
Your home state plays a big part in determining prices for BMW i7 insurance rates. A good driver about age 40 could pay as low as $1,210 a year in states like Iowa, Maine, and Idaho, or be forced to pay as much as $2,630 on average in New York, Louisiana, and Michigan.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,666 | -$178 | -9.7% |
| Alaska | $1,414 | -$430 | -23.3% |
| Arizona | $1,530 | -$314 | -17.0% |
| Arkansas | $1,844 | -$0 | 0.0% |
| California | $2,100 | $256 | 13.9% |
| Colorado | $1,760 | -$84 | -4.6% |
| Connecticut | $1,892 | $48 | 2.6% |
| Delaware | $2,086 | $242 | 13.1% |
| Florida | $2,302 | $458 | 24.8% |
| Georgia | $1,702 | -$142 | -7.7% |
| Hawaii | $1,324 | -$520 | -28.2% |
| Idaho | $1,248 | -$596 | -32.3% |
| Illinois | $1,374 | -$470 | -25.5% |
| Indiana | $1,388 | -$456 | -24.7% |
| Iowa | $1,244 | -$600 | -32.5% |
| Kansas | $1,750 | -$94 | -5.1% |
| Kentucky | $2,512 | $668 | 36.2% |
| Louisiana | $2,728 | $884 | 47.9% |
| Maine | $1,134 | -$710 | -38.5% |
| Maryland | $1,520 | -$324 | -17.6% |
| Massachusetts | $1,472 | -$372 | -20.2% |
| Michigan | $3,200 | $1,356 | 73.5% |
| Minnesota | $1,544 | -$300 | -16.3% |
| Mississippi | $2,208 | $364 | 19.7% |
| Missouri | $1,634 | -$210 | -11.4% |
| Montana | $1,980 | $136 | 7.4% |
| Nebraska | $1,450 | -$394 | -21.4% |
| Nevada | $2,210 | $366 | 19.8% |
| New Hampshire | $1,330 | -$514 | -27.9% |
| New Jersey | $2,058 | $214 | 11.6% |
| New Mexico | $1,630 | -$214 | -11.6% |
| New York | $1,938 | $94 | 5.1% |
| North Carolina | $1,058 | -$786 | -42.6% |
| North Dakota | $1,508 | -$336 | -18.2% |
| Ohio | $1,272 | -$572 | -31.0% |
| Oklahoma | $1,892 | $48 | 2.6% |
| Oregon | $1,690 | -$154 | -8.4% |
| Pennsylvania | $1,758 | -$86 | -4.7% |
| Rhode Island | $2,458 | $614 | 33.3% |
| South Carolina | $1,670 | -$174 | -9.4% |
| South Dakota | $1,556 | -$288 | -15.6% |
| Tennessee | $1,614 | -$230 | -12.5% |
| Texas | $2,218 | $374 | 20.3% |
| Utah | $1,364 | -$480 | -26.0% |
| Vermont | $1,258 | -$586 | -31.8% |
| Virginia | $1,106 | -$738 | -40.0% |
| Washington | $1,422 | -$422 | -22.9% |
| West Virginia | $1,690 | -$154 | -8.4% |
| Wisconsin | $1,274 | -$570 | -30.9% |
| Wyoming | $1,642 | -$202 | -11.0% |
Because rates have so much variability, the only way to know who has the cheapest car insurance rates is to get quotes from as many companies as possible. Each auto insurer uses a different method to calculate rates, and quoted rates will be varied between companies.
Insurance Rates by Trim Level and Model Year
| Model and Trim | Annual Premium | Monthly Premium |
|---|---|---|
| BMW i7 | $2,216 | $185 |
| BMW i7 | $1,912 | $159 |
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 | $516 | $960 | $258 | $1,844 |
| 2023 BMW i7 | $494 | $952 | $264 | $1,820 |
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 Cheap BMW i7 Insurance
Finding cheaper rates on BMW i7 insurance takes having a decent driving record, having above-average credit, avoid buying unnecessary coverage, and not having any coverage lapses. Spend time shopping around at every other renewal by obtaining price quotes from direct carriers like Progressive, GEICO, and Esurance, and also from several local insurance agents.
The following items are a brief summary of the concepts that were touched on above.
- High-risk drivers that tend to have accidents or serious violations pay on average $2,140 more per year than a driver with a clean driving record
- 16 to 18-year-old drivers have the highest car insurance rates, costing up to $520 each month if full coverage is included
- Drivers can save around $240 per year simply by quoting early and online
- Increasing comprehensive and collision deductibles could save up to $975 each year
- Drivers can save around $240 per year simply by quoting early and online
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,240 |
| 20 | $4,224 |
| 30 | $1,968 |
| 40 | $1,844 |
| 50 | $1,674 |
| 60 | $1,644 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,496 |
| $250 | $2,192 |
| $500 | $1,844 |
| $1,000 | $1,510 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,844 |
| 50/100 | $1,964 |
| 100/300 | $2,028 |
| 250/500 | $2,196 |
| 100 CSL | $1,989 |
| 300 CSL | $2,131 |
| 500 CSL | $2,235 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,050 |
| 20 | $6,722 |
| 30 | $4,122 |
| 40 | $3,984 |
| 50 | $3,792 |
| 60 | $3,758 |
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 | $104 |
| Multi-vehicle | $93 |
| Homeowner | $23 |
| 5-yr Accident Free | $156 |
| 5-yr Claim Free | $123 |
| Paid in Full/EFT | $100 |
| Advance Quote | $100 |
| Online Quote | $139 |
| Total Discounts | $838 |
Discounts are estimated and may not be available from every company or in every state.
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