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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U.S. average insurance rates for a BMW i7 are $1,820 a year for full coverage. Comprehensive insurance costs on average $494, collision costs $952, and liability is $264. Buying just liability costs around $312 a year, with insurance for high-risk drivers costing $3,944 or more. 16-year-old drivers pay the highest rates at $6,206 a year or more.
Average premium for full coverage: $1,820
Price estimates by individual coverage:
Includes $500 comprehensive and collision deductibles, liability coverage up to 30/60, and includes uninsured motorist and medical coverage. Estimates are averaged for all states and for all i7 models.
Price Range from Low to High
For the normal driver, BMW i7 insurance prices go from as low as $312 for the bare minimum liability coverage to the much higher price of $3,944 for a high-risk driver policy.
Geographic Price Range
Choosing to live in a large city can make a big difference on car insurance rates. Rural areas have a lower frequency of accident claims than congested cities.
The example below illustrates how geographic area affects car insurance rates.
The ranges above show why everyone should compare rates quotes based on a specific location 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 Information
The chart below shows estimated BMW i7 insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $991
- Raising to $1,000 deductibles will save around $326 a year
- The average rate for the average middle-age driver with $500 deductibles is $1,820
- Buying pricier low deductibles will cost an extra $642 annually
- Drivers with multiple tickets or accidents could pay upwards of $3,944 or more
- The price for full coverage for a 16-year-old driver for full coverage may cost $6,206
Insurance prices for a BMW i7 are also quite variable based on your driving record, the trim level of your i7, and policy deductibles and limits.
A more mature driver with no violations or accidents and high deductibles may pay as low as $1,700 every 12 months on average for full coverage. Prices are highest for teenage drivers, where even good drivers should be prepared to pay upwards of $6,200 a year. View Rates by Age
The state you live in also has a big influence on BMW i7 insurance prices. A middle-age driver might find prices as low as $1,200 a year in states like Idaho, Maine, and Iowa, or at least $2,590 on average in Michigan, Louisiana, and New York.
| 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 prices by up to $970 annually, whereas buying more liability protection will cost you more. Going from a 50/100 limit to a 250/500 limit will increase prices by as much as $237 more each year. View Rates by Deductible or Liability Limit
If you have some driving violations or tend to cause accidents, you could be paying at a minimum $2,100 to $2,800 additional each year, depending on your age. BMW i7 insurance for high-risk drivers is expensive and can cost from 45% to 129% more than the average rate. View High Risk Driver Rates
Since prices can be so different, the only way to know exactly what you will pay is to regularly compare prices from multiple companies. Every auto insurance company utilizes a different rate formula, and prices may be quite different from one company to the next.
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
Getting lower rates on insurance for a BMW i7 consists of having a decent driving record, having a good credit history, eliminating unnecessary coverage, and insuring your home and auto with the same company. Invest the time to compare rates every time your policy renews by getting quotes from direct carriers like Progressive and GEICO, and also from your local insurance agents.
The following items are a recap of the information presented in the illustrations above.
- Drivers can save as much as $240 per year simply by quoting online well ahead of the renewal date
- 16 to 18-year-old drivers pay higher prices, with premiums as much as $517 a month including comprehensive and collision insurance
- Increasing physical damage deductibles can save around $975 each year
- Drivers considered higher risk that have major violations or accidents will pay on average $2,120 more each year than a driver with a clean driving record
- Insureds who require additional liability coverage will pay around $290 each year to raise from a low limit to 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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