Vehicles > BMW > 7 Series

BMW 7 Series Insurance Rates

You have many choices when comparing insurance rates on your BMW vehicle. You can either buy through an insurance agent or shop online to check prices from companies. Comparing auto insurance by quoting online is easy, in addition you may find lower rates.

Beginners to comparing rates may think purchasing low-cost 7 Series insurance is hard. Finding a better price on auto insurance is a fairly straight forward process. Consumers just need to spend a few minutes to compare quotes from different insurance companies. This can be done by completing this short form.

Criteria which help determine BMW insurance rates

Insurance premiums on a BMW 7 Series can vary widely based upon several criteria. A few of these criteria are:

  • The performance level of your 7 Series
  • Any accidents you may have
  • Home and auto can earn discounts
  • Pleasure use vs. commuting use
  • Optional coverages like vehicle replacement
  • Whether or not you have claims
  • No coverage lapses saves money
  • Owning a home can lower rates

One important consideration that can impact your rates is the age of the vehicle. New vehicles have a higher value compared to older BMW models so repair costs are higher which can inflate annual premiums. Conversely, new BMW models have more advanced features such as blind-spot warning system, sideview assist mirrors, tire pressure monitors, and pedestrian detection which can give discounted rates.

To get a better idea how much rates will be for your vehicle, select the year of your 7 Series from the following list.

Liability coverages - Liability insurance provides protection from injuries or damage you cause to people or other property. Liability coverage pays for claims such as funeral expenses, loss of income, and emergency aid. Liability insurance is relatively cheap so buy higher limits if possible.

Collision coverages - This coverage pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder. Collision coverage for your 7 Series can be pricey, so consider dropping it from lower value vehicles. It's also possible to increase the deductible to bring the cost down.

Comprehensive coverages - This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then your comprehensive coverage will pay. The maximum payout a auto insurance company will pay at claim time is the actual cash value, so if the vehicle's value is low consider removing comprehensive coverage.

Uninsured and underinsured coverage - This coverage protects you and your vehicle from other drivers when they either have no liability insurance or not enough. Because many people have only the minimum liability required by law, it doesn't take a major accident to exceed their coverage limits. So UM/UIM coverage is a good idea.

Coverage for medical payments - Medical payments and Personal Injury Protection insurance provide coverage for bills like ambulance fees, surgery, and doctor visits. They are used in conjunction with a health insurance policy or if you do not have health coverage. PIP is not universally available but it provides additional coverages not offered by medical payments coverage.

How Much are BMW 7 Series Insurance Rates?