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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Estimated insurance prices for a BMW i7 are $1,820 every 12 months for full coverage insurance. Comprehensive insurance costs an estimated $494, collision costs $952, and liability insurance costs around $264. A liability-only policy costs as low as $312 a year, with high-risk insurance costing $3,944 or more. Teens pay the most at $6,206 a year or more.
Average premium for full coverage: $1,820
Premium estimates broken down by type of coverage:
These estimates include $500 policy deductibles, liability limits of 30/60, and includes medical and uninsured motorist coverage. Rates include averaging for all 50 states and for different i7 trim levels.
Insurance Price Range by Risk and Coverage
For the average 40-year-old driver, insurance rates for a BMW i7 go from the cheapest price of $312 for just liability coverage to a much higher rate of $3,944 for a driver that may need high-risk insurance.
Insurance Price Range by Location
Where you live has a significant impact on the price of insurance. More rural locations are statistically proven to have more infrequent physical damage claims than cities with more traffic congestion.
The price range example below illustrates the difference location can make on insurance prices.
These rate differences illustrate why anyone shopping for car insurance should compare prices for a targeted area and their own driving history, rather than relying on averaged prices.
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 illustrates estimated BMW i7 insurance rates for other coverage scenarios.
- The cheapest rate after discounts is $991
- Using higher $1,000 deductibles will save approximately $326 each year
- The average price for a 40-year-old good driver who has $500 deductibles is $1,820
- Selecting more expensive low deductibles for physical damage coverage costs an extra $642 a year
- Drivers with serious driving violations could pay up to $3,944 or more
- An auto insurance policy to insure a teen driver with full coverage can cost as much as $6,206 or more
Auto insurance prices for a BMW i7 also have a wide range based on physical damage deductibles and liability limits, your risk profile, and the model year and trim level.
Choosing higher comprehensive and collision insurance deductibles could cut prices by as much as $970 each year, while increasing your policy's liability limits will increase premiums. Switching from a 50/100 liability limit to a 250/500 limit will cost up to $237 extra every year. View Rates by Deductible or Liability Limit
An older driver with a good driving record and higher deductibles could pay as little as $1,700 a year, or $142 per month, for full coverage. Prices are much higher for drivers in their teens, since even excellent drivers will have to pay at least $6,200 a year. View Rates by Age
If you have a few violations or you were responsible for an accident, you are probably paying $2,100 to $2,800 in extra premium annually, depending on your age. High-risk driver insurance can be anywhere from 45% to 129% more than the average policy. View High Risk Driver Rates
Where you choose to live has a huge impact on BMW i7 insurance rates. A driver around age 40 might see prices as low as $1,190 a year in states like North Carolina, Wisconsin, and Vermont, or have to pay 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% |
With such a large range in prices, the only way to figure out which insurance company is cheapest is to compare prices from as many companies as possible. Each insurance company calculates prices differently, and quoted prices will be substantially 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 Shop for Cheap BMW i7 Insurance
Finding better rates on BMW i7 insurance requires being a good driver, having a good credit score, paying for small claims out-of-pocket, and qualifying for all possible discounts. Make time to compare rates once a year by requesting quotes from direct insurance companies, and also from insurance agencies where you live.
The following list is a brief summary of the data that was touched on in this article.
- It is possible to save approximately $240 per year simply by shopping early and online
- Drivers who want an increased level of liability coverage will pay approximately $290 annually to increase from 30/60 bodily injury limits to a 250/500 level
- Drivers age 16 to 20 are the costliest to insure, with premiums being up to $517 per month if comprehensive and collision insurance is included
- High-risk drivers that tend to have accidents or serious violations could be forced to pay on average $2,120 more annually than a safer driver
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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