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Average BMW 7 Series insurance rates
Despite its powerful engine and near six-figure price tag, insurance might be more affordable than you think. The average cost of auto insurance for a BMW 7 Series is $167 a month or $2,004 a year, about $700 higher than the national average.
Rewards for safe drivers
Basic to comprehensive
Your own dedicated agent
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For a car starting at a base price of $81,500, it’s one of the cheapest luxury cars to insure, with an annual insurance cost–to–base car price ratio of only 2.5%.
Monthly insurance rate
Base car price
To determine our estimated cost, we aggregated quotes from insurance companies using this profile:
2017 BMW 7 Series
10,001–15,000 miles driven yearly
No accidents in the past five years
Anti-theft device on vehicle
Driver located in New York
Our estimated price is for basic coverage, which we define as two times the state required minimum and the addition of bodily injury, property damage, uninsured motorist, bodily injury and personal injury protection.
Other factors that can affect your auto insurance rate
BMW 7 Series model year
Amount of coverage you need
Estimated miles you drive in a year
Vehicle’s safety and anti-theft features
Driver’s credit score and location
Driver’s age, marital status and gender
Driving history in the past five years
Whether the driver rents, leases or owns the vehicle
How to compare insurance for the BMW 7 Series
Auto insurance is an expensive purchase that almost every driver makes but nobody hopes to use. But besides that fact that coverage is mandatory in all but a few states, auto insurance can provide protection and peace of mind on and off the road. With that being said, shopping for coverage can be tough, since policies can vary so much between providers. However, knowing what to look for can help you save both time and money. Here are a few factors that can help you compare your options.
Price. Since policies and coverage can differ, it’s important to use the same details when getting quotes from providers. This will allow you to compare prices for similar coverage options.
Deductible. Your deductible amount can directly affect the cost of insurance, so it’s important to choose an option that fits your financial situation.
Minimum coverage. Almost every state has minimum coverage requirements. Ensure that your state’s minimums are met before purchasing a policy.
Additional coverage. Many providers offer additional coverage that can add another layer of protection to your policy. Be sure to include these options when getting quotes to get a more accurate estimate.
Extras. No-deductible glass repairs and accident forgiveness are two of many possible extras you may come across when shopping around. Find out what features are included on your policy and what you’ll need to pay extra for.
Restrictions. Find out if there are any coverage restrictions to avoid denied claims or gaps in coverage.
Manufacturer offer or loyalty discount. Some manufacturers have partnerships with insurance providers. Ask BMW if you are eligible for any manufacturer offers or loyalty discounts.
Warranty. Find out what’s covered by your manufacturer or extended warranty to avoid paying for overlapping coverage.
What factors affect car insurance rates for BMW 7 Series?
Between your driving history, location, choice of vehicle and build options, there are a number of factors that can influence the cost of auto insurance. But because each make and model can vary in terms of performance, theft rates, safety features and other variables, your choice of vehicle can have a significant impact. Here are a few BMW 7 Series characteristics that might affect the cost of coverage.
Body type. The 7 Series is a four-door sedan that’s designed for low-risk driving like commuting and daily driving. This could make for lower premiums.
Type of car. Like most BMW models, the 7 Series is a luxury vehicle. These types of vehicles can be expensive to insure.
Theft. Sedans are the most frequently stolen type of vehicle, which could make for more expensive insurance.
Repairs. BMWs are notoriously expensive to repair, especially on the higher-end models. The increased cost of parts and service may increase the cost of coverage.
Safety ratings. While the 7 Series doesn’t currently have official safety ratings, BMW vehicles are generally highly rated, which could lead to cheaper insurance.
Fuel type. The 7 Series runs on gasoline, which might make it cheaper to insure compared to diesel or hybrid vehicles.
Trim & packages. Choosing features that increase visibility, handling or safety may lead to lower insurance premiums. Features that improve performance or drastically increase price might make coverage more expensive.
Does the BMW 7 Series qualify for auto insurance discounts?
Your vehicle may be eligible for various auto insurance discounts depending on which provider you choose. However, the exact discounts you receive may vary depending on location, provider, options, and other factors. Here are a few that should apply to the BMW 7 Series:
At the time of writing, the BMW 7 Series doesn’t have official safety ratings from the IIHS or NHTSA. With that being said, most BMW vehicles have great safety ratings and come packed with a number of safety and driver assistance features that could help reduce the cost of insurance.
According to U.S. News and J.D. Power, the 2018 BMW 7 Series holds a 3.5/5 star reliability rating, which is above average for vehicles in its class.
BMW 7 Series maintenance
The 7 Series is BMW’s flagship sedan with a price tag that starts at just over $80,000. It’s designed to provide a quiet, comfortable driving experience and requires little maintenance to keep it on the road. With that being said, maintaining a routine service schedule can extend the life of your vehicle and ensure that it operates as it should.
BMW suggests an oil change every 10,000 miles or 12 months. Depending on how you drive your vehicle, you may want to consider having it changed more often.
Oil changes should cost between $100 to $200, but your cost may vary.
Newer BMW models come equipped with a Condition Based Servicing system and a Service Interval Indicator. Both of these systems will monitor your vehicle and let you know when parts need replacing and when the vehicle should be brought in for service. However, here is BMWs standard maintenance schedule:
Every 10,000 miles or 12 months
Every 20,000 to 40,000 miles
Every 10,000 miles or 12 months
Every 60,000 miles
Every 10,000 miles
Replace them every 60,000 miles
First 30,000 miles then every 60,000 miles after that
Is an extended warranty worth it for the BMW 7 Series?
The 7 Series is backed by BMW’s standard four-year/50-000 mile warranty. This covers issues due to defective parts and service, along with free roadside assistance and a separate corrosion warranty.
Given the 7 Series’ price tag and BMW’s reputation for expensive repairs, the extended warranty can provide peace of mind once the initial warranty expires. It’s available in multiple terms and includes service from certified BMW technicians, OEM part replacements, mechanical breakdown towing and more.
Additionally, eligible 7 Series vehicles come with BMW Ultimate Care, which is a three-year/36,000-mile complimentary maintenance plan. There are other extended maintenance plans available for an extra fee.
About the BMW 7 Series
Introduced in 1977, the 7 Series is BMW’s flagship vehicle that is currently in its sixth generation. Starting at just over $80,000, the luxurious sedan comes packed with a number of industry-leading technologies and a 4.4-litre turbocharged V8 that pumps out nearly 450 horsepower.
The BMW 7 Series model has been around since 1977 and is the company’s flagship car. The car is known for its powerful engine, strong fuel economy and spacious interior. BMW uses the 7 Series line to introduce new and innovative technologies and exterior designs, then the latest ideas are adapted to the smaller sedans in the company’s lineup.
Compare BMW competitors
Find out what else BMW has to offer or explore other manufacturers to find models similar to the BMW 7 Series.
The BMW 7 Series is a top-of-the-line luxury sedan that delivers a balance between comfort and performance. It comes standard with cutting-edge technology along with a suite of safety and driver assistance features that could help reduce the cost of insurance. However, the cost of insurance depends on a number of different variables, so it’s important to compare your options to find out exactly how much you’ll pay.
Frequently asked questions about the BMW 7 Series
Insurance is never one-size-fits-all, so it’s hard to say what provider is best for the 7 Series. Any major provider should be able to cover this vehicle, but it’s up to you to shop around for the best rate. Given the 7 Series’ near six-figure price tag, you may want to choose a provider that offers hands on customer service.
The most effective way to get the best rates for your BMW 7 Series is to shop around. Get quotes from multiple providers and be sure to include all safety features and other details that might help you get discounts. Once you’ve got a few different quotes, compare your options to find out which provider offers the best value.
You can learn more about state minimums here, or you can speak with your provider to find a policy that suits your needs. When shopping around, it’s essential to find a policy that fits into your budget but also fulfills your state’s minimum requirements.
Which car insurance provider is best for me?
Looking to save on car insurance? Answer these three questions to find a provider that best fits your needs and budget.
Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.
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