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

MoneyGeek found that the average BMW 7 Series insurance cost is $1,937 per year. Compared to the average car, BMW 7 Series insurance rates are higher. Premiums will also vary depending on the insurer and the model year of your car, so shopping around is a good way to get the best deals.

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Last Updated: 10/31/2022
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It’s smart to compare rates when looking for car insurance for your BMW 7 Series. Different insurers can have varying costs depending on the model year of your car and your profile, so shopping around can help you get the best prices.

Key Takeaways for BMW 7 Series Insurance

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The average insurance cost for a BMW 7 Series is $1,937 yearly, which is $510 more than the average cost of insuring an average car.

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The cost to insure a BMW 7 Series can vary by as much as $924 depending on the car insurer you choose.

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BMW 7 Series insurance rates can vary by up to $1,214 depending on how old your car is, with older models getting lower insurance rates.

How Much It Costs to Insure a BMW 7 Series and the Cheapest Company

Your choice of car insurance company can greatly influence your premiums. BMW 7 Series insurance costs an average of $1,937 per year.

Progressive is the cheapest option for BMW 7 Series insurance at an average of $1,585 yearly. Allstate is the most expensive at an average of $2,509 per year. This means you can save up to $924 yearly by comparing quotes.

The Average Annual Cost of BMW 7 Series Insurance by Company

MoneyGeek obtained car insurance rates for BMW 7 Series from different insurers. In this study, quotes are based on a policy for a 40-year-old driver with 100/300/100 liability coverage and collision and comprehensive coverage.

The Average Cost to Insure a BMW 7 Series by Company

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Insurance Rates

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Is a BMW 7 Series Expensive to Insure?

Insurers determine the cost of insurance for cars based on several factors. In general, higher insurance rates are given to cars that are expensive, more likely to be stolen or more likely to crash.

A BMW 7 Series is expensive to insure because these cars are considered to be of moderate value. They also have an above-average theft rate according to the National Highway Traffic Safety Administration. These factors can make the car riskier to insure and lead to higher insurance rates.

The Best Car Insurance Company for a BMW 7 Series

While cost is important, there are also other factors that you need to keep in mind when looking for insurance for your BMW 7 Series. MoneGeek’s rating system scored insurers by customer satisfaction, financial stability ratings and affordability.

  • MoneyGeek found USAA to be the best insurance company for a BMW 7 Series. However, it is only available for military members and their families.
  • Progressive is the second-best insurance company for BMW 7 Series insurance.

1
USAA
Score:97

4.8/5

Affordability

4.5/5

Claims Ratings

5/5

User Satisfaction

5/5

Financial Stability

2
Progressive
Score:90

5/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

4.5/5

Financial Stability

3
Nationwide
Score:89

4.8/5

Affordability

4.5/5

Claims Ratings

3/5

User Satisfaction

4.5/5

Financial Stability

4
State Farm
Score:86

4.5/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

5/5

Financial Stability

5
Allied
Score:NaN

4.2/5

Affordability

#N/A

Claims Ratings

#N/A

User Satisfaction

#N/A

Financial Stability

6
GEICO
Score:76

3.8/5

Affordability

3.5/5

Claims Ratings

3/5

User Satisfaction

5/5

Financial Stability

7
Allstate
Score:69

3/5

Affordability

4.5/5

Claims Ratings

3/5

User Satisfaction

4.5/5

Financial Stability

How Much It Costs to Insure a BMW 7 Series by Model Year

Older models of the BMW 7 Series tend to be cheaper to insure because as a car’s value depreciates, the cost of comprehensive and collision insurance decreases. It costs an average of $1,345 per year to insure a 2005 BMW 7 Series and an average of $2,559 yearly for a 2020 BMW 7 Series. That is a difference of $1,214 annually.

Depending on the model year, the average cost to insure a BMW 7 Series is:

  • 2005 BMW 7 Series: $1,345 per year
  • 2010 BMW 7 Series: $1,693 per year
  • 2016 BMW 7 Series: $2,150 per year
  • 2017 BMW 7 Series: $2,307 per year
  • 2018 BMW 7 Series: $2,509 per year
  • 2019 BMW 7 Series: $2,525 per year
  • 2020 BMW 7 Series: $2,559 per year

Progressive has the cheapest 2020 BMW 7 Series insurance rates at $1,816 per year on average. The cheapest insurer can vary depending on the model year.

To compare rates from different insurers, select your BMW 7 Series year below.

The Average Cost to Insure a BMW 7 Series by Model Year

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  • Company
    Average Annual Rates (2020 model)
    Average Annual Rates (2019 model)
    Average Annual Rates (2018 model)
    Average Annual Rates (2017 model)
    Average Annual Rates (2016 model)
    Average Annual Rates (2010 model)
    Average Annual Rates (2005 model)
  • 1.
    $1,816
    $1,804
    $1,798
    $1,726
    $1,669
    $1,640
    $1,216
  • 2.
    $2,143
    $2,119
    $2,108
    $1,964
    $1,852
    $1,481
    $1,147
  • 3.
    $1,873
    $1,877
    $1,879
    $1,903
    $1,921
    $1,643
    $1,269
  • 4.
    $2,281
    $2,257
    $2,246
    $2,103
    $1,992
    $1,601
    $1,302
  • 5.
    Allied
    $2,488
    $2,478
    $2,473
    $2,412
    $2,365
    $1,713
    $1,346

How Expensive Is It to Insure a BMW 7 Series Compared to Other Cars?

The cost of insuring your BMW 7 Series is more expensive than the average car. It costs an average of $1,937 yearly to insure a BMW 7 Series, which is $510 more expensive compared to the average car insurance rate.

How Much It Costs to Insure a BMW 7 Series for 16- to 25-Year-Olds

Younger drivers can pay significantly more for their car insurance due to their lack of driving experience. An 18-year-old driver insuring a BMW 7 Series will pay an average of $6,322 per year, while a 40-year-old driver will pay an average of $4,385 less per year for the same car.

Teen drivers and their parents can save money by being on the same policy, as it can be very expensive for a teen to buy a policy for themselves.

You can find car insurance rates for young drivers aged 16 to 25 in the table below.

The Average Cost to Insure a BMW 7 Series by Driver Age

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  • Age
    Average Annual Rates
  • 16
    $8,105
  • 17
    $7,179
  • 18
    $6,322
  • 19
    $4,528
  • 20
    $4,041
  • 21
    $3,199
  • 22
    $2,947
  • 23
    $2,696
  • 24
    $2,531
  • 25
    $2,296
  • 40
    $1,937

How Does Location Affect the Cost of BMW 7 Series Insurance?

The rates in this article are based on a national average, but your location can greatly influence your car insurance rates. You can find out more about car insurance costs in specific states with our state page analysis.

FAQs About BMW 7 Series Insurance

The model of your car can have a significant impact on the cost of your insurance, but it’s just one of the many factors that you need to consider. Learn more with these answers to some frequently asked questions about insuring a BMW 7 Series.

Read More About Car Insurance

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.