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 insurance prices for a BMW i7 are $1,820 every 12 months including full coverage. Comprehensive insurance costs approximately $494 each year, collision costs $952, and liability costs $264. Buying just liability costs as little as $312 a year, with insurance for high-risk drivers costing $3,944 or more. 16-year-old 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:
These estimates include $500 policy deductibles, minimum liability limits, and includes uninsured/under-insured motorist coverage. Rates are averaged for all 50 U.S. states and i7 models.
Price Range by Coverage and Risk
For a 40-year-old driver, prices range go from the cheapest price of $312 for your basic liability-only policy to a high rate of $3,944 for high-risk insurance.
Price Range by Location
Your location can have significant affects on car insurance prices. Rural locations tend to have more infrequent comprehensive and collision claims than congested cities.
The graphic below illustrates how your location can change auto insurance prices.
These examples highlight why all drivers should compare rates using their specific location and their own driving history, instead of using 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.
More Rate Information
The chart below breaks down estimated BMW i7 insurance rates for additional coverage and risk scenarios.
- The best full coverage rate is $991
- Drivers who choose higher $1,000 deductibles will pay $326 every year
- The average price for a 40-year-old driver who chooses $500 deductibles is $1,820
- Buying low deductibles for comprehensive and collision insurance costs an extra $642 every year
- Higher-risk drivers with multiple tickets or accidents could pay around $3,944 or more
- The cost to insure a teen driver can cost $6,206 a year
Auto insurance rates for a BMW i7 can also vary considerably based on policy deductibles and limits, your driving characteristics, and the model of your i7.
Opting for high physical damage deductibles could save up to $970 every year, whereas increasing liability limits will push rates upward. Changing from a 50/100 liability limit to a 250/500 limit will cost as much as $237 extra every year. View Rates by Deductible or Liability Limit
More mature drivers with a good driving record and higher deductibles may pay as little as $1,700 per year on average for full coverage. Rates are highest for teen drivers, since even excellent drivers will have to pay in the ballpark of $6,200 a year. View Rates by Age
If you like to drive fast or you were responsible for an accident, you are likely paying anywhere from $2,100 to $2,800 in extra premium per year, depending on your age. Insurance for high-risk drivers can cost as much as 45% to 129% more than the average rate. View High Risk Driver Rates
Where you live makes a big difference in BMW i7 insurance prices. A 40-year-old driver could pay as low as $1,390 a year in states like Vermont, New Hampshire, and Missouri, or at least $2,590 on average in Louisiana, 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% |
With so much variability in rates, the best way to figure out who has the best auto insurance rates is to do a rate comparison and see which company has the best rate. Every company utilizes a different rate formula, and quoted rates can be significantly 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 Cheap BMW i7 Insurance
Saving money on car insurance not only requires being a good driver, but also having a good credit score, not filing small claims, and not having any coverage lapses. Invest the time to shop around every couple of years by requesting quotes from direct car insurance companies like GEICO, Progressive, and Esurance, and also from your local car insurance providers.
The following list is a brief summary of the material that was illustrated above.
- Policyholders who purchase an increased level of liability coverage will pay around $290 per year to go from a minimum limit to a 250/500 level
- Drivers age 16 to 20 have the highest car insurance rates, as much as $517 per month if comprehensive and collision insurance is included
- Higher risk drivers that tend to have accidents or serious violations could be charged and average of $2,120 more per year than a safer driver
- Increasing 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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