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 prices for a BMW i7 are $1,820 every 12 months with full coverage. Comprehensive insurance costs approximately $494 each year, collision costs $952, and liability costs $264. A policy with just liability insurance costs as little as $312 a year, with coverage for high-risk drivers costing $3,944 or more. Teen 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 physical damage insurance deductibles, 30/60 liability limits, and includes medical and uninsured motorist coverage. Estimates are averaged for all U.S. states and i7 models.
Price Range from Low to High
For a 40-year-old driver, BMW i7 insurance prices go from the cheapest price of $312 for just liability coverage to a high rate of $3,944 for a driver required to buy high-risk insurance.
Geographic Price Range
Your location can have significant affects on the price of insurance. Rural locations have more infrequent collision claims than larger metro areas.
The graphic below illustrates how your location can change auto insurance prices.
The ranges above demonstrate why all drivers should compare rates using their specific location and their own driving history, instead of using price 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.
Detailed Rate Analysis
The chart below details estimated BMW i7 insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $991
- Drivers who choose higher $1,000 deductibles will pay $326 annually
- The average price for the average middle-age driver who chooses $500 deductibles is $1,820
- Choosing low deductibles for comprehensive and collision insurance costs an extra $642 every year
- Higher-risk drivers with multiple violations and an at-fault accident could pay around $3,944 or more
- The price to insure a teen driver can cost $6,206 a year
Insurance prices for a BMW i7 are also quite variable based on deductibles and policy limits, your driving record, and the model of your i7.
Choosing high deductibles could save up to $970 every year, whereas increasing liability limits will push prices upward. Moving from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $237 more per year. View Rates by Deductible or Liability Limit
More mature drivers with a clean driving record and higher deductibles may pay as little as $1,700 per year on average for full coverage. Prices are highest for teenage drivers, since even excellent drivers can expect to pay in the ballpark of $6,200 a year. View Rates by Age
If you have some driving violations or you were responsible for an accident, you may be forking out anywhere from $2,100 to $2,800 extra each year, depending on your age. Insurance for high-risk drivers can cost as much as 45% to 129% more than average. View High Risk Driver Rates
The state you live in makes a big difference in BMW i7 insurance prices. A 40-year-old driver could pay as low as $1,310 a year in states like Utah, Ohio, and New Hampshire, or as much as $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% |
Since prices can be so different, the best way to find out who has the cheapest auto insurance prices is to do a rate comparison and see which company has the best price. Every company uses a different rate calculation, so the prices may be quite 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 the Cheapest BMW i7 Insurance
Getting lower rates on car insurance not only requires being a low-risk driver, but also having good credit, avoid buying unnecessary coverage, and maximizing policy discounts. Invest the time to shop around at every policy renewal by getting quotes from direct companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.
The items below are a recap of the data illustrated above.
- Policyholders who purchase more liability coverage will pay about $290 every year to go from a low limit to a 250/500 level
- You may be able to save around $240 per year simply by quoting online in advance
- Increasing physical damage deductibles could save as much as $975 each year
- Teen drivers are expensive to insure, costing up to $517 a month if they have 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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