BMW I7 Insurance Rates
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UPDATED: Mar 28, 2024
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Average insurance rates for a BMW i7 are $1,844 a year for full coverage insurance. Comprehensive costs around $516 each year, collision insurance costs $960, and liability costs around $258. Liability-only coverage costs as low as $306 a year, and high-risk coverage costs around $3,984. Teenage drivers receive the highest rates at up to $6,240 a year.
Average premium for full coverage: $1,844
Rate estimates for individual coverage type:
Rate estimates include $500 comprehensive and collision deductibles, 30/60 liability limits, and includes additional medical/uninsured motorist coverage. Rates are averaged for all 50 states and i7 models.
Price Range by Coverage and Risk
For a driver around age 40, prices range range from the low end price of $306 for just the minimum liability insurance to a high rate of $3,984 for a driver required to buy high-risk insurance.
Price Range by Location
Where you live can make a big difference on car insurance rates. Areas with sparse population tend to have lower incidents of physical damage claims than densely populated cities. The graphic below illustrates the difference between rural and urban areas on auto insurance rates.
These examples illustrate why all drivers should compare prices for a specific zip code, instead of making a decision based 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.
Additional Rate Analysis
The chart below illustrates average BMW i7 insurance rates for additional coverage choices and driver risks.
- The best discount rate is $1,006
- Using higher $1,000 deductibles will save about $334 each year
- The estimated price for a 40-year-old driver using $500 deductibles is $1,844
- Using low deductibles for physical damage coverage bumps up the cost to $2,496
- High-risk insureds who are prone to accidents and violations could pay at least $3,984
- The cost that insures a 16-year-old driver can be $6,240 or more
Car insurance rates for a BMW i7 can also vary considerably based on the trim level and model year, your age and driving record, and deductibles and policy limits.
If you like to drive fast or you caused an accident, you are probably paying at least $2,200 to $2,900 extra per year, depending on your age. Insurance for high-risk drivers can be from 46% to 134% more than a normal policy. View High Risk Driver Rates
More mature drivers with no driving violations and higher comprehensive and collision deductibles may pay as low as $1,700 a year for full coverage. Rates are much higher for teen drivers, since even teens with perfect driving records will be charged as much as $6,200 a year. View Rates by Age
Where you live has a huge impact on BMW i7 insurance prices. A driver around age 40 might see rates as low as $1,200 a year in states like Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $2,480 on average in Michigan, New York, 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% |
Using high physical damage deductibles could cut rates by as much as $990 annually, whereas increasing liability limits will increase rates. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $232 extra every 12 months. View Rates by Deductible or Liability Limit
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 Find the Best BMW i7 Insurance
Saving money on insurance for a BMW i7 requires avoiding accidents and violations, having a positive credit history, avoid buying unnecessary coverage, and consideration of higher deductibles. Compare prices at every policy renewal by obtaining price quotes from direct insurance companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.
The list below is a brief recap of the data covered above.
- Insureds who may need higher liability limits will pay an extra $280 annually to increase from a minimum limit to the 250/500 level
- It is possible to save up to $240 per year just by quoting online in advance
- Increasing deductibles can save approximately $975 each year
- Teenagers are the costliest to insure, costing up to $520 per month if full coverage is purchased
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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