BMW I7 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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The average auto insurance rates for a BMW i7 are $1,844 annually for full coverage insurance. Comprehensive costs on average $516, collision insurance costs $960, and liability coverage is $258. A liability-only policy costs around $306 a year, and high-risk insurance costs around $3,984. Teens cost the most to insure at up to $6,240 a year.
Average premium for full coverage: $1,844
Policy rates by type of insurance:
Full coverage includes $500 deductible amounts, 30/60 split liability limits, and includes uninsured/under-insured motorist coverage. Prices are averaged for all 50 states and for different i7 trim levels.
Price Range Variability
For the average driver, BMW i7 insurance rates range from as cheap as $306 for your basic liability-only policy to a much higher rate of $3,984 for a high-risk insurance policy.
Urban vs. Rural Price Range
Choosing to live in a large city has a large influence on insurance rates. Rural areas are shown to have fewer physical damage claims than cities with more traffic congestion. The price range example below illustrates how location impacts car insurance rates.
The examples above illustrate why anyone shopping for car insurance should compare rates quotes based on a specific location and their own personal driving habits, rather than using 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.
More Rate Information
The chart below illustrates average BMW i7 insurance rates for different risk profiles and scenarios.
- The cheapest rate after discounts is $1,006
- Raising to $1,000 deductibles will save around $334 each year
- The estimated rate for a good driver age 40 with $500 deductibles is $1,844
- Selecting more expensive low deductibles will cost $2,496
- Unlucky drivers with serious driving violations could pay upwards of $3,984
- Policy cost with full coverage for a teenage driver with full coverage may cost $6,240
Car insurance rates for a BMW i7 also range considerably based on the model year and trim level, your risk profile, and policy deductibles and limits.
An older driver with no driving violations and high physical damage deductibles may only pay around $1,700 every 12 months on average, or $142 per month, for full coverage. Rates are much higher for teenagers, where even without any violations or accidents they will be charged upwards 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 are probably paying at a minimum $2,200 to $2,900 extra every year, depending on your age. High-risk driver insurance is expensive and can cost around 46% to 134% more than the average policy. View High Risk Driver Rates
Choosing higher comprehensive and collision insurance deductibles can reduce rates by up to $990 a year, while increasing your policy's liability limits will cost you more. Switching from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $232 extra every 12 months. View Rates by Deductible or Liability Limit
Your home state also has a big influence on BMW i7 insurance rates. A middle-age driver might find rates as low as $1,200 a year in states like Vermont, Wisconsin, and North Carolina, or have to pay at least $2,480 on average in Michigan, New York, and Florida.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,666 | -$178 | -9.7% |
| Alaska | $1,414 | -$430 | -23.3% |
| Arizona | $1,530 | -$314 | -17.0% |
| Arkansas | $1,844 | -$0 | 0.0% |
| California | $2,100 | $256 | 13.9% |
| Colorado | $1,760 | -$84 | -4.6% |
| Connecticut | $1,892 | $48 | 2.6% |
| Delaware | $2,086 | $242 | 13.1% |
| Florida | $2,302 | $458 | 24.8% |
| Georgia | $1,702 | -$142 | -7.7% |
| Hawaii | $1,324 | -$520 | -28.2% |
| Idaho | $1,248 | -$596 | -32.3% |
| Illinois | $1,374 | -$470 | -25.5% |
| Indiana | $1,388 | -$456 | -24.7% |
| Iowa | $1,244 | -$600 | -32.5% |
| Kansas | $1,750 | -$94 | -5.1% |
| Kentucky | $2,512 | $668 | 36.2% |
| Louisiana | $2,728 | $884 | 47.9% |
| Maine | $1,134 | -$710 | -38.5% |
| Maryland | $1,520 | -$324 | -17.6% |
| Massachusetts | $1,472 | -$372 | -20.2% |
| Michigan | $3,200 | $1,356 | 73.5% |
| Minnesota | $1,544 | -$300 | -16.3% |
| Mississippi | $2,208 | $364 | 19.7% |
| Missouri | $1,634 | -$210 | -11.4% |
| Montana | $1,980 | $136 | 7.4% |
| Nebraska | $1,450 | -$394 | -21.4% |
| Nevada | $2,210 | $366 | 19.8% |
| New Hampshire | $1,330 | -$514 | -27.9% |
| New Jersey | $2,058 | $214 | 11.6% |
| New Mexico | $1,630 | -$214 | -11.6% |
| New York | $1,938 | $94 | 5.1% |
| North Carolina | $1,058 | -$786 | -42.6% |
| North Dakota | $1,508 | -$336 | -18.2% |
| Ohio | $1,272 | -$572 | -31.0% |
| Oklahoma | $1,892 | $48 | 2.6% |
| Oregon | $1,690 | -$154 | -8.4% |
| Pennsylvania | $1,758 | -$86 | -4.7% |
| Rhode Island | $2,458 | $614 | 33.3% |
| South Carolina | $1,670 | -$174 | -9.4% |
| South Dakota | $1,556 | -$288 | -15.6% |
| Tennessee | $1,614 | -$230 | -12.5% |
| Texas | $2,218 | $374 | 20.3% |
| Utah | $1,364 | -$480 | -26.0% |
| Vermont | $1,258 | -$586 | -31.8% |
| Virginia | $1,106 | -$738 | -40.0% |
| Washington | $1,422 | -$422 | -22.9% |
| West Virginia | $1,690 | -$154 | -8.4% |
| Wisconsin | $1,274 | -$570 | -30.9% |
| Wyoming | $1,642 | -$202 | -11.0% |
Insurance Rates by Trim Level and Model Year
| Model and Trim | Annual Premium | Monthly Premium |
|---|---|---|
| BMW i7 | $2,216 | $185 |
| BMW i7 | $1,912 | $159 |
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 | $516 | $960 | $258 | $1,844 |
| 2023 BMW i7 | $494 | $952 | $264 | $1,820 |
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 More Affordable BMW i7 Insurance
Finding cheaper rates on auto insurance consists of having a good driving record, having a good credit score, being claim-free, and possibly raising deductibles. Spend time shopping around at least every other year by obtaining price quotes from direct insurance companies like Progressive, GEICO, and Esurance, and also from local exclusive and independent agents.
The next list is a summary of the car insurance concepts touched on above.
- Drivers who have multiple accidents or major violations may pay on average $2,140 more each year to buy BMW i7 insurance
- It is possible to save as much as $240 per year just by shopping early and online
- Increasing comprehensive and collision deductibles could save up to $975 each year
- Consumers who require increased levels of liability coverage will pay approximately $280 annually to raise from a 30/60 limit to higher 250/500 limits
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,240 |
| 20 | $4,224 |
| 30 | $1,968 |
| 40 | $1,844 |
| 50 | $1,674 |
| 60 | $1,644 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,496 |
| $250 | $2,192 |
| $500 | $1,844 |
| $1,000 | $1,510 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,844 |
| 50/100 | $1,964 |
| 100/300 | $2,028 |
| 250/500 | $2,196 |
| 100 CSL | $1,989 |
| 300 CSL | $2,131 |
| 500 CSL | $2,235 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,050 |
| 20 | $6,722 |
| 30 | $4,122 |
| 40 | $3,984 |
| 50 | $3,792 |
| 60 | $3,758 |
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 | $104 |
| Multi-vehicle | $93 |
| Homeowner | $23 |
| 5-yr Accident Free | $156 |
| 5-yr Claim Free | $123 |
| Paid in Full/EFT | $100 |
| Advance Quote | $100 |
| Online Quote | $139 |
| Total Discounts | $838 |
Discounts are estimated and may not be available from every company or in every state.
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