BMW I7 Insurance Rates
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Michelle Robbins
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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...
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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 with full coverage. Comprehensive insurance costs approximately $494 each year, collision costs $952, and liability insurance costs around $264. Liability-only insurance costs as low as $312 a year, with high-risk driver insurance costing $3,944 or more. 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 by type of insurance:
These estimates include $500 deductible amounts, liability coverage up to 30/60, and includes medical/PIP and uninsured motorist coverage. Prices are averaged for all U.S. states and i7 models.
Price Range Variability
For a 40-year-old driver, BMW i7 insurance rates go from as cheap as $312 for liability-only coverage to a high rate of $3,944 for a high-risk driver policy.
Urban vs. Rural Price Range
Where you live has a significant impact on the price of insurance. Rural locations are shown to have fewer collision claims than congested cities.
The graphic below illustrates how your location can change auto insurance prices.
The examples above demonstrate why all drivers should compare prices using their specific location and their own personal driving habits, 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 Charts and Tables
The chart below details estimated BMW i7 insurance rates for additional coverage and risk scenarios.
- The best full coverage rate is $991
- Using higher $1,000 deductibles will save $326 annually
- The estimated rate for a good driver age 40 who chooses $500 deductibles is $1,820
- Buying low deductibles for physical damage coverage costs an additional $642 a year
- Drivers with multiple tickets or accidents could pay around $3,944 or more
- Policy cost with full coverage for a teen driver can cost $6,206 or more
Auto insurance rates for a BMW i7 also range considerably based on the model year and trim level, your driving record, and physical damage deductibles and liability limits.
More mature drivers with a good driving record and high physical damage deductibles could pay as little 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 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 may be forking out anywhere from $2,100 to $2,800 in extra premium every year, depending on your age. Insurance for high-risk drivers can be anywhere 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 each year, whereas increasing liability limits will push rates upward. Moving from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $237 extra every year. View Rates by Deductible or Liability Limit
Your home state has a huge impact on BMW i7 insurance rates. A driver around age 40 might see 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% |
Because rates have so much variability, the best way to find out who has the cheapest auto insurance rates is to do a rate comparison from as many companies as possible. Each insurance company utilizes a different rate formula, 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 | $2,202 | $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 Cheap BMW i7 Insurance
Finding cheaper rates on BMW i7 insurance requires having a good driving record, having above-average credit, not filing small claims, and not having any coverage lapses. Invest the time to shop around every time your policy renews by requesting quotes from direct companies like Progressive, GEICO, and Esurance, and also from your local independent and exclusive agents.
The next list is a brief summary of the information illustrated above.
- You may be able to save around $240 per year simply by quoting online in advance
- Drivers age 20 and younger have the highest car insurance rates, as much as $517 each month if full coverage is included
- Increasing comprehensive and collision deductibles could save up to $975 each year
- High-risk drivers that tend to have accidents or serious violations may pay on average $2,120 more per year to buy BMW i7 insurance
- Drivers who purchase increased levels of liability coverage will pay around $290 every year 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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