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 rates for a BMW i7 are $1,820 a year for full coverage insurance. Comprehensive costs an estimated $494, collision costs $952, and liability insurance is $264. A policy with only liability insurance costs around $312 a year, with a high-risk policy costing around $3,944. 16-year-old drivers pay the most at $6,206 a year or more.
Average premium for full coverage: $1,820
Premium estimates broken down by type of coverage:
Estimates include $500 comprehensive and collision deductibles, 30/60 liability coverage, and includes medical/PIP and uninsured motorist coverage. Rates include averaging for all 50 states and for different 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 as low as $312 for liability-only coverage to a much higher rate of $3,944 for a policy for a high-risk driver.
Insurance Price Range by Location
Choosing to live in a large city has a significant impact on the price of insurance. More rural locations are statistically proven to have a lower frequency of physical damage claims than congested cities.
The price range example below illustrates how where you live affects insurance prices.
These rate differences illustrate why anyone shopping for car insurance should compare rates quotes for a targeted area and risk profile, rather than relying on rate 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 other coverage scenarios.
- The best full coverage rate is $991
- Raising to $1,000 deductibles will save approximately $326 each year
- The average rate for a 40-year-old good driver who has $500 deductibles is $1,820
- Buying more expensive low deductibles will increase the cost to $2,462
- Higher-risk drivers with multiple tickets or accidents could pay up to $3,944 or more
- An auto insurance policy for full coverage for a teen driver with full coverage can cost as much as $6,206
Car insurance prices for a BMW i7 also have a wide range based on your driving characteristics, the model year and trim level, and liability limits and deductibles.
An older driver with no driving violations and high deductibles could pay as little as $1,700 every 12 months on average, or $142 per month, for full coverage. Prices are highest for drivers in their teens, where even good drivers will be charged at least $6,200 a year. View Rates by Age
Where you choose to live also has a big influence on BMW i7 insurance rates. A middle-age driver might find prices as low as $1,190 a year in states like North Carolina, Wisconsin, and Vermont, or at least $2,450 on average in Florida, New York, and Michigan.
| 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% |
Opting for high physical damage deductibles can reduce prices by up to $970 each year, while increasing your policy's liability limits will increase premiums. Switching from a 50/100 limit to a 250/500 limit will cost up to $237 extra every 12 months. View Rates by Deductible or Liability Limit
If you have a few violations or tend to cause accidents, you are probably paying $2,100 to $2,800 extra annually, depending on your age. High-risk driver insurance is expensive and can cost anywhere from 45% to 129% more than the average rate. View High Risk Driver Rates
With such a large range in prices, the only way to figure out which insurance company is cheapest is to compare prices from as many companies as possible. Every auto insurance company utilizes a different rate formula, so rate quotes will be substantially different from one company to the next.
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 Low Cost BMW i7 Insurance
Finding better rates on BMW i7 insurance consists of having a decent driving record, having above-average credit, paying for small claims out-of-pocket, and not having any coverage lapses. Take the time to comparison shop every year by getting rate quotes from direct insurance companies like Progressive, GEICO, and Esurance, and also from several local insurance agents.
The following items are a review of the coverage data touched on in the above illustrations.
- It is possible to save approximately $240 per year simply by shopping early and online
- Increasing policy deductibles can save around $975 each year
- 16 to 18-year-old drivers have the highest car insurance prices, with premiums being up to $517 per month if full coverage is included
- High-risk drivers who have several accidents or serious violations pay on average $2,120 more annually than a driver with a clean driving record
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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