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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Estimated insurance prices for a BMW i7 are $1,820 every 12 months for full coverage insurance. Comprehensive costs on average $494 a year, collision costs $952, and liability coverage is estimated at $264. A liability-only policy costs approximately $312 a year, with high-risk insurance costing around $3,944. Teen drivers pay the most at $6,206 a year or more.
Average premium for full coverage: $1,820
Premium estimates by type of coverage:
Price estimates include $500 deductible amounts, minimum liability limits, and includes medical/PIP and uninsured motorist coverage. Rates include averaging for all 50 states and i7 trim levels.
Insurance Price Range by Risk and Coverage
Using a middle-aged driver as an example, insurance rates for a BMW i7 go from the cheapest price of $312 for liability-only coverage to a high of $3,944 for high-risk insurance.
Insurance Price Range by Location
Living in a larger city has a large influence on insurance rates. Rural areas are statistically proven to have more infrequent physical damage claims than larger metro areas.
The diagram below illustrates how where you live affects car insurance rates.
These rate differences illustrate why it is important to get quotes based on a specific location and their own driving history, rather than 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.
Additional Charts and Tables
The chart below illustrates estimated BMW i7 insurance rates for different risk profiles and scenarios.
- The lowest rate with discounts is $991
- Choosing higher $1,000 deductibles can save around $1,494 each year
- The average price for a 40-year-old good driver with $500 deductibles is $1,820
- Choosing low $100 deductibles for comp and collision coverage increases the price to $2,462
- Drivers with multiple violations and an at-fault accident could pay upwards of $3,944 or more
- An auto insurance policy to insure a teenage driver may cost $6,206 each year
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 trim level of your i7.
Choosing high deductibles can save as much as $970 a year, while buying higher liability limits will cost you more. 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
Older drivers with a good driving record and higher deductibles may only pay around $1,700 annually on average, or $142 per month, for full coverage. Prices are highest for drivers in their teens, since even excellent drivers will have to pay upwards of $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 at a minimum $2,100 to $2,800 in extra premium annually, depending on your age. A high-risk auto insurance policy ranges around 45% to 129% more than average. View High Risk Driver Rates
Where you choose to live plays a big part in determining prices for BMW i7 insurance rates. A good driver about age 40 could pay as low as $1,190 a year in states like Vermont, Wisconsin, and North Carolina, or as much as $2,450 on average in Michigan, New York, 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% |
With such a large range in prices, the only way to figure out exactly what you will pay is to get quotes and see how they stack up. Each auto insurer uses a different rate calculation, 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 Cheaper BMW i7 Insurance
Finding better rates on auto insurance takes having a good driving record, having a good credit score, paying for small claims out-of-pocket, and taking advantage of discounts. Take the time to comparison shop every couple of years by quoting rates from direct insurance companies, and also from several local insurance agents.
The next list is a condensed summary of the material that was touched on in the above illustrations.
- Consumers who require increased levels of liability coverage will pay about $290 annually to raise limits from 30/60 bodily injury limits to a 250/500 level
- Drivers age 20 and younger are charged the highest prices, with premiums being up to $517 per month if comprehensive and collision insurance is included
- Drivers with multiple at-fault accidents pay on average $2,120 more each year to buy BMW i7 insurance
- Increasing policy deductibles could save as much as $975 each year
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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