BMW I7 Insurance Rates
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Dani Best
Licensed Insurance Producer
Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...
Licensed Insurance Producer
UPDATED: Mar 28, 2024
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The average auto insurance rates for a BMW i7 are $1,844 annually with full coverage. Comprehensive costs approximately $516 a year, collision costs $960, and liability insurance costs around $258. Buying just liability costs as low as $306 a year, with insurance for high-risk drivers costing around $3,984. Teen drivers cost the most to insure at $6,240 a year or more.
Average premium for full coverage: $1,844
Policy rates by type of insurance:
Full coverage includes $500 deductible amounts, minimum liability limits, and includes UM/UIM and medical coverage. Prices are averaged for all U.S. states and i7 trim levels.
Price Range Variability
Using a middle-aged driver as an example, BMW i7 insurance rates go from as cheap as $306 for a discount liability-only rate to a high of $3,984 for high-risk insurance.
Urban vs. Rural Price Range
Where you live has a significant impact on the price of insurance. Rural locations are shown to have fewer collision claims than larger metro areas.
The diagram below illustrates how where you live affects auto insurance prices.
The examples above demonstrate why it is important to compare prices using their specific location and their own personal driving habits, rather than relying on 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.
Rates by State, City, and Model
The chart below details estimated BMW i7 insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $1,006
- Using higher $1,000 deductibles will save $1,510 annually
- The estimated rate for a good driver age 40 who chooses $500 deductibles is $1,844
- Choosing low $100 deductibles for physical damage coverage will cost $2,496
- Drivers with multiple violations and an at-fault accident could pay around $3,984 or more
- Policy cost with full coverage for a teen driver can cost $6,240 or more
Insurance rates for a BMW i7 also range considerably based on the model year and trim level, your driving record, and physical damage deductibles and liability limits.
Older drivers with a clean driving record and high physical damage deductibles could pay as little as $1,700 a year, or $142 per month, for full coverage. Rates are highest for teenagers, where even without any violations or accidents they can expect to pay in the ballpark 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 may be forking out anywhere from $2,200 to $2,900 extra every year, depending on your age. A high-risk auto insurance policy can be anywhere from 46% to 134% more than average. View High Risk Driver Rates
Choosing high deductibles could cut rates by as much as $990 each year, while buying higher liability limits will push rates upward. Moving from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $232 more per year. View Rates by Deductible or Liability Limit
Your home state has a huge impact on BMW i7 insurance rates. A driver around age 40 might see rates as low as $1,330 a year in states like Utah, Ohio, and New Hampshire, or as much as $2,480 on average in New York, Michigan, 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% |
Because rates have so much variability, the best way to find out who has the cheapest auto insurance rates is to get quotes from as many companies as possible. Each insurance company uses a different rate calculation, so the rates will be varied between companies.
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 BMW i7 insurance requires having a good driving record, having a good credit history, not filing small claims, and maximizing policy discounts. Take the time to comparison shop every couple of years by requesting rates from direct companies like Progressive, GEICO, and Esurance, and also from your local independent and exclusive agents.
The next list is a summary of the material that was touched on in the above illustrations.
- Drivers who purchase increased levels of liability coverage will pay about $280 every year to increase from a 30/60 limit to higher 250/500 limits
- Drivers age 20 and younger are expensive to insure, as much as $520 each month including comprehensive and collision insurance
- High-risk drivers who have multiple accidents or major violations may pay on average $2,140 more per year to buy BMW i7 insurance
- Increasing comprehensive and collision deductibles could save up to $975 each year
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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