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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Average insurance rates for a BMW i7 are $1,820 a year including full coverage. Comprehensive costs on average $494, collision costs $952, and liability insurance is $264. Liability-only coverage costs around $312 a year, with high-risk coverage costing around $3,944. Teens receive the highest rates at $6,206 a year or more.
Average premium for full coverage: $1,820
Rate estimates by individual coverage type:
Rates are based on $500 comprehensive and collision deductibles, liability coverage up to 30/60, and includes additional medical/uninsured motorist coverage. Rates are averaged for all 50 U.S. states and for all i7 models.
Price Range by Coverage and Risk
For the average driver, prices range go from the low end price of $312 for just the minimum liability insurance to the much higher price of $3,944 for a high-risk driver policy.
Price Range by Location
Choosing to live in a large city has a significant impact on car insurance rates. Rural areas tend to have lower incidents of comprehensive and collision claims than cities with more traffic congestion.
The example below illustrates how location impacts car insurance rates.
These examples highlight why everyone should compare rates quotes based on a specific location, 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.
Additional Rate Analysis
The chart below breaks down estimated BMW i7 insurance rates for different risk profiles and scenarios.
- The cheapest rate after discounts is $991
- Raising to $1,000 deductibles will save around $326 every year
- The estimated price for a 40-year-old driver with $500 deductibles is $1,820
- Selecting pricier low deductibles bumps up the cost to $2,462
- Higher-risk drivers with serious driving violations could pay upwards of $3,944 or more
- The cost that insures a teen driver for full coverage may cost $6,206
Car insurance rates for a BMW i7 can also vary considerably based on the model of your i7, your driving record and age, and policy deductibles and limits.
If you like to drive fast or you caused an accident, you are likely paying at a minimum $2,100 to $2,800 extra per year, depending on your age. BMW i7 insurance for high-risk drivers is expensive and can cost anywhere from 45% to 129% more than the average policy. View High Risk Driver Rates
A more mature driver with no driving violations and higher comprehensive and collision deductibles could pay as little as $1,700 every 12 months on average for full coverage. Rates are much higher for teen drivers, since even teens with perfect driving records will be charged upwards of $6,200 a year. View Rates by Age
Where you live also has a big influence on BMW i7 insurance rates. A middle-age driver might find rates as low as $1,390 a year in states like Missouri, New Hampshire, and Vermont, or have to pay at least $2,590 on average in Michigan, New York, and Louisiana.
| 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% |
Choosing higher comprehensive and collision insurance deductibles can reduce rates by up to $970 each year, whereas buying more liability protection will cost you more. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $237 extra every 12 months. View Rates by Deductible or Liability Limit
With so much variability in rates, the best way to figure out exactly what you will pay is to regularly compare rates from as many companies as possible. Every auto insurance company calculates rates differently, so rate quotes can be significantly 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 Find the Best Cheap BMW i7 Insurance
Saving money on BMW i7 insurance consists of avoiding accidents and violations, having a positive credit history, not filing small claims, and maximizing policy discounts. Compare rates every time your policy renews by requesting quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.
The list below is a quick review of the information touched on above.
- You may be able to save as much as $240 per year simply by quoting online well ahead of the renewal date
- Teenagers are expensive to insure, as much as $517 per month if full coverage is purchased
- Increasing deductibles can save approximately $975 each year
- High-risk drivers with a DUI or reckless driving violation could be forced to pay on average $2,120 more each year for car insurance
- Drivers who require higher liability limits will pay approximately $290 per year to raise from a minimum limit to the 250/500 level
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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