BMW I7 Insurance Rates
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UPDATED: Mar 28, 2024
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Average insurance prices for a BMW i7 are $1,844 every 12 months with full coverage. Comprehensive costs approximately $516 each year, collision costs $960, and liability coverage costs $258. Liability-only coverage costs as little as $306 a year, with high-risk coverage costing around $3,984. Teenage drivers receive the highest rates at $6,240 a year or more.
Average premium for full coverage: $1,844
Rate estimates by individual coverage type:
Rates are based on $500 policy deductibles, liability coverage up to 30/60, and includes UM/UIM and medical coverage. Rates are averaged for all U.S. states and i7 models.
Price Range by Coverage and Risk
For the average driver, prices range go from the cheapest price of $306 for a discount liability-only rate to a high rate of $3,984 for a high-risk driver policy.
Price Range by Location
Your location has a large influence on the price of insurance. Rural locations tend to have more infrequent collision claims than densely populated cities.
The graphic below illustrates how location impacts auto insurance prices.
These examples demonstrate why all drivers should compare rates using their specific location and their own driving history, rather than using 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 details estimated BMW i7 insurance rates for additional coverage and risk scenarios.
- The best discount rate is $1,006
- Drivers who choose higher $1,000 deductibles will pay $334 annually
- The average price for a 40-year-old driver who chooses $500 deductibles is $1,844
- Using low deductibles for comprehensive and collision insurance increases the price to $2,496
- High-risk insureds who are prone to accidents and violations could pay around $3,984 or more
- The cost to insure a teenage driver can cost $6,240 a year
Car insurance rates for a BMW i7 can also vary considerably based on policy deductibles and limits, your driving record, and the model of your i7.
Using high physical damage deductibles could save up to $990 a year, whereas increasing liability limits will push rates upward. Moving from a 50/100 liability limit to a 250/500 limit will cost as much as $232 extra every 12 months. View Rates by Deductible or Liability Limit
More mature drivers with no driving violations and higher deductibles may only pay around $1,700 per year on average for full coverage. Rates are much higher for teen drivers, since even excellent drivers will be charged 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 may be forking out anywhere from $2,200 to $2,900 extra per year, depending on your age. Insurance for high-risk drivers can cost around 46% to 134% more than a normal policy. View High Risk Driver Rates
Where you live makes a big difference in BMW i7 insurance rates. A 40-year-old driver could pay as low as $1,330 a year in states like Utah, Ohio, and New Hampshire, or be forced to pay 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% |
With so much variability in rates, the best way to find out who has the cheapest auto insurance rates is to do a rate comparison and see how they stack up. Every company uses a different method to calculate rates, so rate quotes can be significantly different.
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 Shop for the Best Cheap BMW i7 Insurance
Saving money on auto insurance not only requires being a good driver, but also maintaining a good credit score, eliminating unnecessary coverage, and avoiding coverage lapses. Spend time shopping around every time your policy renews by getting rate quotes from direct companies like GEICO, Progressive, and Esurance, and also from insurance agencies where you live.
The following list is a quick review of the information touched on above.
- You may be able to save around $240 per year simply by quoting online in advance
- Drivers age 16 to 20 pay the highest auto insurance rates, with premiums as much as $520 per month if the policy includes full coverage
- Increasing deductibles could save as much as $975 each year
- Drivers with a DUI or reckless driving violation could be forced to pay on average $2,140 more per year than a safer driver
- Consumers who purchase an increased level of liability coverage will pay an extra $280 every year to go from a minimum limit to a 250/500 level
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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