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 auto insurance rates for a BMW i7 are $1,820 annually for full coverage. Comprehensive costs on average $494, collision costs $952, and liability insurance costs around $264. A policy with just liability insurance costs as low as $312 a year, with coverage for high-risk drivers costing around $3,944. Teenage drivers receive the highest rates at $6,206 a year or more.
Average premium for full coverage: $1,820
Rate estimates by individual coverage type:
Estimates include $500 policy deductibles, liability coverage up to 30/60, and includes UM/UIM and medical coverage. Rates are averaged for all states and for all i7 models.
Price Range by Coverage and Risk
For an average driver, prices range go from as cheap as $312 for a discount liability-only rate to the much higher price of $3,944 for a high-risk driver policy.
Price Range by Location
Where you live has a significant impact on car insurance rates. Rural areas tend to have fewer accident claims than densely populated cities.
The example below illustrates the effect of geographic area on car insurance rates.
These examples show why everyone should compare prices based on a specific location and their own personal driving habits, rather than relying on average rates.
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.
Rates by State, City, and Model
The chart below shows estimated BMW i7 insurance rates for different risk profiles and scenarios.
- The best discount rate is $991
- Using higher $1,000 deductibles will save around $326 a year
- The estimated rate for a 40-year-old driver with $500 deductibles is $1,820
- Using pricier low deductibles for physical damage coverage will cost $2,462
- Drivers who are prone to accidents and violations could pay upwards of $3,944 or more
- The cost with full coverage for a teen driver for full coverage may cost $6,206 or more
Insurance rates for a BMW i7 can also vary considerably based on the trim level of your i7, your driver profile, and policy deductibles and limits.
A more mature driver with no violations or accidents and high physical damage deductibles could pay as little as $1,700 a year for full coverage. Rates are much higher for teen drivers, where even without any violations or accidents they should be prepared to pay upwards of $6,200 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you could be paying at a minimum $2,100 to $2,800 additional per year, depending on your age. BMW i7 insurance for high-risk drivers can be anywhere from 45% to 129% more than a normal policy. View High Risk Driver Rates
Using high physical damage deductibles could cut rates by as much as $970 each year, whereas buying more liability protection will cost you more. Going from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $237 more each year. View Rates by Deductible or Liability Limit
Where you live has a huge impact on BMW i7 insurance rates. A driver around age 40 might see rates as low as $1,200 a year in states like Idaho, Maine, and Iowa, or be forced to pay as much as $2,590 on average in Michigan, Louisiana, and New York.
| 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 so much variability in rates, the only way to know exactly what you will pay is to regularly compare rates from as many companies as possible. Each insurance company uses a different method to calculate rates, and rates can be significantly different between companies.
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 Buy Low Cost BMW i7 Insurance
Saving money on BMW i7 insurance requires being safe and accident-free, having good credit, eliminating unneeded coverage, and insuring your home and auto with the same company. Take the time to compare rates every time your policy renews by getting quotes from direct carriers like Progressive and GEICO, and also from local insurance agents.
Below you'll find a review of the information covered in the above illustrations.
- Drivers can save as much as $240 per year simply by quoting online well ahead of the renewal date
- Youthful drivers pay higher rates, costing as high as $517 per month if they have full coverage
- Increasing deductibles could save up to $975 each year
- High-risk drivers who have several accidents or serious violations may be required to pay an average of $2,120 more each year than a low-risk driver
- Drivers who require more liability protection will pay an extra $290 each year to increase from a minimum limit to higher 250/500 limits
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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