Compare the Cost of BMW 7 Series Insurance by Model Year and Company

One of the main factors impacting BMW 7 Series insurance costs is the driver’s age. You’ll pay an average of $11,620 per year for a 2022 model's full coverage policy as a 16-year-old, while it will cost you an average of $2,580 annually if you’re 40 years of age. For a 2009 model, a 40-year-old driver will only pay $1,818 annually, while a 16-year-old will pay around $8,245.

Our selection of the best insurance companies takes into account costs, customer satisfaction and claims management.

While insuring a BMW 7 Series car with a full coverage policy costs an average of $2,482 per year, your premium will depend on the insurer you choose.

State Farm provides the cheapest car insurance for BMW 7 Series vehicles, charging an average of $1,899 per year for full coverage. Allstate is the most expensive, at $3,046 annually.

GEICO provides the most affordable minimum coverage policy for these cars, charging an average of $490 per year. Nationwide is the most expensive, at $1,717 per year.

Auto insurance companies consider various factors to determine premiums. The BMW 7 Series is expensive to insure because it has a medium value and high theft rates. The most recent data provided by the National Highway Traffic Safety Administration (NHTSA) highlights that the theft rate for BMW 7 Series cars is above average. Since these cars get stolen more than others, insurers view them as riskier to insure and charge higher premiums. Its manufacturer’s suggested retail price (MSRP) of $87,795 also contributes to the vehicle’s higher insurance premiums.

If you’re looking for the best car insurance for a BMW 7 Series car, you need to look beyond the cost. Other important aspects that need your attention include customer satisfaction and claims management. Companies that provide the best BMW 7 Series insurance policies for full coverage are:

• State Farm: MoneyGeek score 90 out of 100 ($1,899 per year)
• Progressive: MoneyGeek score 87 out of 100 ($2,110 per year)

State Farm provides the cheapest insurance for BMW 1 Series vehicles. It also offers excellent customer service.

Average car insurance costs may vary greatly based on the model year. If you have a 2009 BMW 7 Series car, expect to pay an average of $1,818 annually for a full coverage policy. If you own a 2022 model, the average cost will increase to $2,580. It’s typically cheaper to insure an old car because of depreciation.

The model year and the company you choose will also have a bearing on how much you need to pay to insure a BMW 7 Series car. State Farm has the lowest average annual premium for 2009 and 2022 models, charging $1,260 and $2,138 for a full coverage policy, respectively.

Car insurance for teens and people in their 20s costs considerably more than it does for those who are 30 or older. The average annual BMW 7 Series insurance cost for a 16-year-old buying full coverage is $11,074. For a 40-year-old, the cost drops to $2,454. While car insurance costs decrease noticeably every year as teen drivers get older, they usually stabilize once drivers get to their 20s.

Those looking for cheap car insurance for teens should consider seeing what family plans have to offer because individual plans cost considerably more. Teens under the age of 18 might also need a guardian’s approval to get coverage.

State Farm provides the cheapest full coverage BMW 7 Series insurance for 16-year-olds driving a 2022 model, charging an average of $7,013 per year. Allstate is the most expensive, at $16,081 per year. These averages are for individual plans.

If you’re getting an auto insurance policy as a teen or for your child, consider shopping around to find the most affordable option.

In addition to your car's model year, its model type and your age, your location also has an effect on insurance costs. The same company won’t provide the cheapest insurance for BMW 7 Series cars across all states. Residents of Idaho usually find the cheapest full coverage car insurance policies, whereas people who reside in Florida tend to pay the most.

If you need a new car insurance policy, it makes sense to identify the most affordable insurers and then ask them for quotes.

People who need BMW 7 Series car insurance tend to have questions about costs and service. Understanding answers to some commonly asked questions may help you find the best insurer for your needs.