Cheap BMW 7 Series Car Insurance in 2024 (Find Savings With These 10 Companies!)
Get the cheapest BMW 7 Series car insurance rates with top providers like State Farm, Progressive, and Allstate, offering competitive as low as $57 per month. These companies stand out for their affordability, offering a diverse range of coverage plans that suit BMW 7 Series owners' needs and budget.
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Tim Bain
Licensed Insurance Agent
Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada.
Licensed Insurance Agent
UPDATED: Oct 22, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Oct 22, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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11,413 reviews
State Farm emerges as the top overall pick for cheap BMW 7 Series car insurance, together with Progressive and Allstate, offering competitive rates and comprehensive coverage options.
Delve into our in-depth analysis to explore factors influencing insurance costs, including driver demographics, vehicle specifications, and geographical considerations.
Our Top 10 Company Picks: Cheap BMW 7 Series Car Insurance
| Company | Rank | Monthly Rates | Safe Driver Discount | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
 | #1 | $57 | 10% | Many Discounts | State Farm |
 | #2 | $58 | 12% | Online Convenience | Progressive |
 | #3 | $60 | 15% | Add-on Coverages | Allstate |
 | #4 | $70 | 10% | Cheap Rates | Geico |
 | #5 | $72 | 13% | Usage Discount | Nationwide |
 | #6 | $75 | 12% | Local Agents | Farmers |
 | #7 | $82 | 15% | Customizable Polices | Liberty Mutual |
 | #8 | $86 | 12% | Military Savings | USAA |
 | #9 | $88 | 10% | Student Savings | American Family |
 | #10 | $90 | 17% | 24/7 Support | Erie |
With insights from industry experts and comparisons of top insurance providers, discover strategies to secure affordable coverage without compromising on protection for your luxurious BMW 7 Series.
Stop overpaying for your insurance by entering your ZIP code above to find the lowest rates in your area.
- State Farm is the top providers for cheap BMW 7 Series, rate starts at $57/mo
- Factors influencing costs such as driver age, location, and vehicle specifications
- Comprehensive coverage without sacrificing protection for your luxury car
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#1 – State Farm: Top Overall Pick
Pros
- Many Discounts: State Farm offers a wide range of discounts, including multi-policy, safe driver, good student, and more, allowing customers to save on their premiums.
- Personalized Service: State Farm agents provide personalized service and guidance, helping customers understand their coverage options and tailor policies to their specific needs.
- Financial Strength: State Farm insurance review & ratings showcase robust financial standings, ensuring customers of efficient and dependable claim processing.
Cons
- Limited Online Tools: While State Farm offers online services, including bill payment and policy management, its online tools may not be as comprehensive or user-friendly as those of some competitors.
- Potentially Higher Rates: Depending on factors such as location and driving history, some customers may find State Farm’s rates to be slightly higher compared to other insurers.
#2 – Progressive: Best for Online Convenience
Pros
- Online Convenience: Progressive offers a user-friendly website and mobile app, allowing customers to easily manage their policies, file claims, and access support online.
- Discount Opportunities: Progressive insurance review & ratings showcase a range of discount options, such as those for safe drivers, multi-policy holders, and online quoting, enabling clients to cut down on their premiums.
- Wide Range of Coverage Options: Progressive offers a wide range of coverage options, including liability, collision, comprehensive, and more, allowing customers to tailor their policies to their needs.
Cons
- Limited Local Presence: Progressive primarily operates online and may have fewer local agents compared to some other insurers, which could be a drawback for customers who prefer in-person assistance.
- Higher Rates for Some Drivers: Depending on factors such as driving history and location, some customers may find Progressive’s rates to be higher compared to other insurers.
#3 – Allstate: Best for Add-on Coverages
Pros
- Add-on Coverages: Allstate offers a variety of add-on coverages, such as accident forgiveness, roadside assistance, and rental reimbursement, allowing customers to enhance their protection.
- Financial Strength: Allstate insurance review & ratings highlight the company’s robust financial standing, ensuring customers trust in the efficient and dependable handling of their claims.
- Personalized Service: Allstate agents provide personalized service and guidance, helping customers understand their coverage options and find policies that suit their needs.
Cons
- Potentially Higher Rates: Depending on factors such as location and driving history, some customers may find Allstate’s rates to be higher compared to other insurers.
- Limited Coverage Options: While Allstate offers a variety of coverage options, some customers may find that it lacks certain specialized coverages offered by competitors.
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#4 – Geico: Best for Cheap Rates
Pros
- Cheap Rates: Geico car insurance discounts are renowned for highlighting competitive rates, showcasing an appealing choice for consumers mindful of their budget.
- Convenient Online Tools: Geico provides a user-friendly online platform for managing policies, making payments, and filing claims, offering convenience and efficiency to customers.
- Variety of Coverage Options: Geico offers a wide range of coverage options, allowing customers to tailor their policies to suit their individual needs.
Cons
- Limited Local Agent Presence: Geico primarily operates online and over the phone, which may not be ideal for customers who prefer face-to-face interactions with local agents.
- Mixed Customer Service Reviews: While Geico generally receives positive reviews for its customer service, some customers have reported issues with claims processing and communication.
#5 – Nationwide: Best for Usage Discount
Pros
- Usage Discount: Nationwide offers usage-based insurance programs, allowing safe drivers to earn discounts based on their driving habits and mileage.
- Wide Network of Local Agents: Nationwide has a vast network of local agents across the country, providing personalized assistance and support to customers.
- Bundle Discounts: Nationwide insurance review & ratings showcase the potential for savings through bundling various policies like home and auto insurance, thanks to their discounts.
Cons
- Higher Premiums for Some: While Nationwide offers competitive rates for many customers, some individuals may find that their premiums are higher compared to other insurers.
- Mixed Claims Experience: Some customers have reported mixed experiences with Nationwide’s claims process, citing delays and difficulty in obtaining reimbursement.
#6 – Farmers: Best for Local Agents
Pros
- Local Agents: Farmers insurance review & ratings showcase a robust network of local agents dedicated to delivering personalized service and support, adding a human touch to the insurance journey.
- Discount Opportunities: Farmers offers various discount opportunities, including multi-policy discounts, safe driver discounts, and discounts for vehicle safety features, helping customers save on premiums.
- Customizable Coverage: Farmers Insurance offers customizable coverage options, allowing customers to tailor their policies to meet their individual needs and preferences.
Cons
- Potentially Higher Premiums: Some customers may find that Farmers Insurance premiums are higher compared to other insurers, particularly for certain coverage options or high-risk drivers.
- Limited Online Tools: While Farmers Insurance offers online account management tools, some customers may find the online platform less intuitive and user-friendly compared to other insurers.
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#7 – Liberty Mutual: Best for Customizable Polices
Pros
- Customizable Policies: Liberty Mutual insurance review & ratings showcase flexible policies, empowering clients to customize their coverage according to their unique requirements and financial constraints.
- Strong Financial Stability: Liberty Mutual has a strong financial stability rating, providing customers with confidence in the company’s ability to fulfill its obligations.
- Variety of Discounts: Liberty Mutual offers a variety of discounts, such as multi-policy, safe driver, and good student discounts, helping customers save money on their premiums.
Cons
- Limited Availability: Liberty Mutual may not be available in all areas, limiting options for customers who prefer to work with a local insurance provider.
- Mixed Customer Service Reviews: While some customers report positive experiences with Liberty Mutual’s customer service, others have expressed dissatisfaction with response times and claims processing.
#8 – USAA: Best for Military Savings
Pros
- Military Savings: USAA offers special savings and benefits for military members and their families, including discounted rates and tailored coverage options.
- Excellent Customer Service: USAA is known for its exceptional customer service, with high satisfaction ratings and personalized support for policyholders.
- Financial Stability: USAA insurance review & ratings showcase a robust financial stability rating, assuring customers of the insurer’s financial security and offering them peace of mind.
Cons
- Limited Eligibility: USAA membership is limited to current and former military members and their eligible family members, restricting access for the general public.
- Online-Only Services: USAA primarily operates online and via phone, which may not be suitable for customers who prefer face-to-face interactions with agents.
#9 – American Family: Best for Student Savings
Pros
- Affordable Premiums: American Family insurance review & ratings showcase competitive rates, with an average annual premium of $88, appealing to cost-conscious customers.
- Student Savings: American Family provides a student discount, offering additional savings for young drivers or those still in school, which can significantly lower insurance costs for families with student drivers.
- Reputable Customer Service: The company is known for its excellent customer service, providing reliable support and assistance to policyholders, ensuring a smooth claims process and timely responses to inquiries.
Cons
- Limited Availability: American Family operates primarily in select states, limiting its availability to customers in certain regions, which may be inconvenient for those living outside its coverage area.
- Average Discounts: While American Family offers various discounts, such as the student savings mentioned, some customers may find that the available discounts are not as extensive or generous as those offered by other insurance providers.
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#10 – Erie: Best for 24/7 Support
Pros
- Affordable Pricing: Erie insurance review & ratings showcase competitive pricing, with a $90 monthly premium and a 17% discount, appealing to cost-conscious customers.
- Comprehensive Coverage: Erie Insurance provides a wide range of coverage options, including liability, collision, comprehensive, and additional coverage options, ensuring that customers can tailor their policies to suit their needs.
- Strong Financial Stability: Erie Insurance has a strong financial stability rating, indicating its ability to fulfill its financial obligations to policyholders, providing peace of mind to customers.
Cons
- Limited Availability: Erie Insurance may not be available in all states, limiting its accessibility to potential customers residing outside its coverage area.
- Limited Online Tools: While Erie Insurance offers 24/7 customer support, its online tools and resources may be limited compared to other insurance providers, potentially affecting customer convenience and accessibility.
Factors That Determine the Cost of BMW 7 Series Car Insurance
When it comes to calculating the cost of BMW 7 Series car insurance, there are several key factors that insurance providers take into consideration. One of the primary factors is the value of the vehicle itself. As the BMW 7 Series is a luxury car with advanced features and high performance, it tends to have a higher market value compared to other vehicles. Insurers take this into account when determining the premium you will pay.
Jeff Root Licensed Life Insurance Agent
The cost of insurance is influenced by age, driving history, and prior claims. Young or inexperienced drivers typically face higher premiums due to their perceived higher risk. Previous claims or violations, like speeding tickets, can also impact insurance rates. To broaden your understanding, explore our comprehensive resource titled “Car Accidents: What to do in Worst Case Scenarios.”
BMW 7 Series Car Insurance Monthly Rates by Coverage Level & Provider
Insurance Company Minimum Coverage Full Coverage
Allstate $60 $166
American Family $88 $193
Erie $90 $199
Farmers $75 $180
Geico $70 $167
Liberty Mutual $82 $187
Nationwide $72 $177
Progressive $58 $164
State Farm $57 $160
USAA $86 $190
Explore monthly car insurance rates for the BMW 7 Series across various coverage levels and providers. From basic minimum coverage to comprehensive protection, compare rates from reputable insurers like Allstate, Geico, State Farm, and more to find the best fit for your luxury vehicle.
Explore unbeatable discounts tailored for your BMW 7 Series from leading insurance companies. Discover the perfect match for your needs with our handy comparison table, showcasing discounts from Allstate’s Snapshot Program to USAA’s Military Discount. Save big while ensuring top-notch coverage for your luxury ride.
Furthermore, the location where the vehicle will primarily be used and stored also plays a role in determining the insurance cost. If you live in an area with a high crime rate or an urban area with heavy traffic, insurers may consider the risk of theft or accident higher, leading to higher premiums.
Understanding the Importance of Car Insurance for BMW 7 Series Owners
Car insurance is essential for BMW 7 Series owners due to the high repair and replacement costs. It’s also a legal requirement and protects against financial burdens from accidents or thefts. Comparing insurance rates with other luxury vehicles helps find competitive premiums based on factors like safety features and repair costs. For a comprehensive analysis, refer to our detailed guide titled “Safety Insurance Car Insurance Discounts.”
When getting BMW 7 Series insurance, compare rates with similar luxury vehicles. Insurance companies factor in the vehicle’s make and model. Despite its safety features and craftsmanship, comparing rates helps find the best deal. Repair costs and parts availability affect premiums, so comparing ensures competitive rates.
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Tips for Finding Affordable Car Insurance for Your BMW 7 Series
While BMW 7 Series car insurance may be higher compared to standard vehicles, there are ways to find affordable coverage without compromising on protection. Here are some tips:
- Shop Around: Compare quotes from multiple insurance companies to find the best rates for your BMW 7 Series. Websites and apps can make this process easier.
- Bundle Policies: Many insurance companies offer discounts if you bundle your car insurance with other policies, such as homeowners or renters insurance.
- Maintain a Good Driving Record: A clean driving record with no accidents or traffic violations can lead to lower insurance premiums.
- Consider a Higher Deductible: A higher deductible means you’ll pay more out of pocket if you have a claim, but it can lower your monthly premiums.
- Check for Discounts: Ask about discounts for things like being a safe driver, having anti-theft devices installed, or being a member of certain organizations.
- Drive Less: Some insurance companies offer discounts for low mileage drivers. If you don’t drive your BMW 7 Series often, be sure to mention this when getting quotes.
- Choose the Right Coverage: Consider the age and condition of your BMW 7 Series when choosing coverage. If it’s an older model, you may not need comprehensive or collision coverage.
- Improve Your Credit Score: In many states, insurance companies use credit scores to determine premiums. Improving your credit score can lead to lower insurance rates.
- Look for Specialized Insurance Companies: Some insurance companies specialize in insuring luxury vehicles like BMWs and may offer better rates or coverage options.
- Ask for Discounts: Don’t be afraid to ask your insurance company for discounts. They may offer discounts for things like paying your premium in full, setting up automatic payments, or being a good student.
Despite the higher insurance costs associated with luxury vehicles, there are several strategies you can use to secure coverage that fits your budget without compromising on protection.
By comparing quotes, bundling policies, maintaining a clean driving record, and taking advantage of discounts, you can find affordable car insurance for your BMW 7 Series.
Factors Influencing BMW 7 Series Insurance Costs
The cost of insuring your BMW 7 Series is significantly influenced by your geographical location, with factors such as crime rates, accident likelihood, and uninsured drivers impacting premiums. Living in high-risk areas may result in higher premiums. For a comprehensive overview, explore our detailed resource titled “How does the insurance company determine my premium?”
To mitigate this, consider installing additional security features like alarm systems or tracking devices. Additionally, your driving record is pivotal in determining insurance costs; a clean record often leads to lower premiums, while a history of accidents or violations can increase rates.
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Adhering to traffic laws and practicing defensive driving can help maintain a favorable record. Moreover, the deductible you choose plays a role in premium calculation, with higher deductibles usually leading to lower premiums. However, it’s essential to assess your financial readiness to cover the deductible in case of an accident.
Understanding the Different Types of Car Insurance Coverage for Your BMW 7 Series
When choosing car insurance for your BMW 7 Series, understand the coverage types: Personal injury protection (PIP), uninsured/underinsured motorist, collision, comprehensive, and liability. Tailor your coverage to your needs for comprehensive protection. For detailed information, refer to our comprehensive report titled “Personal Injury Protection (PIP) Insurance: A Complete Guide.”
Consider your driving habits, location, and budget when choosing coverage. Evaluate your risk exposure and select coverage that adequately protects your BMW 7 Series. Remember, balance protection with affordability to avoid overpaying for unnecessary coverage.
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Case Studies: Navigating BMW 7 Series Insurance Challenges With Strategic Solutions
From managing high premiums to navigating post-accident insurance challenges, these stories offer valuable insights and strategies for finding affordable and comprehensive coverage.
- Case Study #1 – Managing Insurance Costs for a New BMW 7 Series Owner: Emily, a 30-year-old professional, faces unexpectedly high insurance premiums for her new BMW 7 Series due to its value and urban location. She’s considering raising her deductible and bundling policies to balance costs without sacrificing coverage.
- Case Study #2 – Rebuilding Trust and Finding Budget-Friendly BMW 7 Series Insurance: After a car accident, Jason sought affordable BMW 7 Series insurance by researching accident forgiveness programs and safe driving discounts, successfully rebuilding trust with his provider while securing budget-friendly coverage.
- Case Study #3 – Protecting a Hand-Me-Down BMW 7 Series: Michael inherited his grandfather’s BMW 7 Series, seeking affordable coverage on a student budget. Through diligent research and comparison shopping, he found adequate protection without compromising his finances.
Insurance for a BMW 7 Series can present unique challenges, but with careful consideration and exploration of available options, it’s possible to find affordable coverage that meets your needs. To enhance your understanding, explore our comprehensive resource on insurance titled “Full Coverage Car Insurance: A Complete Guide.”
Tracey L. Wells Licensed Insurance Agent & Agency Owner
Whether you’re a new owner facing unexpectedly high premiums, recovering from an accident, or navigating insurance as a student, these case studies demonstrate the importance of proactive research.
The Bottom Line: Finding Affordable Insurance for Your BMW 7 Series
The article provides insights into the cost of insuring a BMW 7 Series, emphasizing factors that influence insurance premiums such as the vehicle’s value, driver’s age and history, and location. It offers tips for finding affordable coverage, including comparing quotes, bundling policies, and taking advantage of discounts. For a comprehensive overview, explore our detailed resource titled “Car Insurance Discounts by Age.”
Additionally, it highlights the importance of comprehensive coverage for BMW 7 Series owners due to the high repair costs. The article also includes a list of top insurance companies and their pros and cons, making it easier for readers to make informed decisions about their car insurance.
See which companies have the cheapest rates for you by entering your ZIP code in our free comparison tool below.
Frequently Asked Questions
Which BMW is the cheapest to insure?
Compare BMW insurance costs for all models BMW insurance groups can vary significantly. At one end of the scale, the cheapest BMW to insure is generally the 1 Series, especially the more modestly trimmed and lower-powered hatchback versions of the car.
Is a BMW expensive to maintain?
BMWs require expensive maintenance of $27 on average monthly, according to RepairPal. BMW also ranks 30th out of 32 car brands in RepairPal’s reliability study, which means you’ll want to account for your vehicle needing work regularly.
You can find the cheapest insurance coverage tailored to your needs by entering your ZIP code below.
Is BMW hard to insure?
If you drive a powerful BMW, it’s likely to be in a high insurance group and it will therefore cost you more to insure. MoneySuperMarket data has found that the most expensive BMW model to insure is M4 Competition Package, while the cheapest BMW to insure is the BMW 116.
To gain profound insights, consult our extensive guide titled “What age do you get cheap car insurance?”
Is BMW 7 Series worth buying?
Highs Brimming with tech features, effortless performance, plush accommodations. Lows Abundance of digital tech takes time to learn, not much else. Verdict The 7-series’s big power, serene road manners, opulent interior, and thoughtful tech add up to a superlative luxury experience.
What are the cons of buying a BMW?
Owning a BMW comes with higher-than-average ownership costs. Premium gasoline, high-end tires, imported parts, and specialized labor contribute to the overall expenses. Additionally, BMWs typically require synthetic oil changes, which further elevate maintenance costs.
Why are BMW oil changes so expensive?
BMW oil changes are expensive due to the high cost of synthetic oils used in their vehicles and the specialized knowledge and equipment required by BMW technicians.
To expand your knowledge, refer to our comprehensive handbook titled “Best Car Insurance by Vehicle.”
Are parts for a BMW expensive?
Repairing a luxury car like a BMW is usually more expensive than repairing a budget model, as the higher-quality parts will be more expensive. This does mean that you’ll likely be making these repairs less frequently, however, as BMWs are built to last.
Is BMW safe for accidents?
The independent safety experts from the European New Car Assessment Programme (Euro NCAP) awarded the eighth generation of the BMW 5 Series Sedan the highest rating of five stars. The extensive standard equipment with safety-relevant driver assistance systems makes a significant contribution to the 5-star rating.
Are BMW good or bad cars?
BMWs are as reliable as most luxury vehicles, albeit with their own set of quirks. Advancements in technology and engine capabilities can put higher reliability ratings at risk for this brand, especially on newer models. However, you can find several used BMW models that are well worth the investment.
For a thorough understanding, refer to our detailed analysis titled “Does my car insurance cover damage caused by an overheated engine?”
Will a BMW last 20 years?
Many BMW drivers report driving their vehicles for well over 10 years, and 15 years is fairly common when the car is properly maintained. With the proper maintenance and sound driving habits, you can expect your BMW to be running in top shape for quite a long time.
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Tim Bain
Licensed Insurance Agent
Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada.
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
