BMW 740i Car Insurance Rates for 2023

• BMW 740i car insurance rates cost an average of $2,796 per year, $1,398 for a 6-month policy, or $233 per month, depending on the trim level.
• The cheapest BMW 740i insurance is the on the base Sedan at around $2,796 per year, and the most expensive trim being the Sedan at $2,796 annually.
• When compared to the entire large luxury car segment, the 740i is a little more expensive than average at 15^th out of 26 total comparison vehicles.

How much does BMW 740i car insurance cost?

BMW 740i insurance costs on average $2,796 a year for full coverage, or $233 each month. With the average large luxury car costing $2,724 a year to insure, insuring a BMW 740i costs an average of $72 more every 12 months.

The chart below shows how average BMW 740i insurance rates change depending on the age of the driver and different policy deductibles.

As with all car insurance policies, the higher the deductibles, the lower the policy costs. In the chart above, 740i car insurance rates range from an average rate for a 60-year-old driver of $2,498 up to the average rate for a 20-year-old driver of $5,592 per year.

A few additional observations when insuring a 740i include:

• Being a good driver saves money. Having frequent accidents may increase rates, potentially up to $3,930 per year for a 20-year-old driver and even as much as $834 per year for a 60-year-old driver.
• Expect to pay a lot for high risk insurance. For a 20-year-old driver, having to buy a high-risk insurance policy can potentially increase rates by $4,340 or more per year.
• Get a discount from your employer. Some auto insurance providers offer discounts for certain professions like architects, college professors, scientists, police officers and law enforcement, emergency medical technicians, and other occupations. By getting this discount, you could potentially save between $84 and $178 on your annual 740i insurance cost, depending on your age.
• Bring up your credit score to save money. Drivers with high 800+ credit scores could save around $439 per year versus a credit rating of 670-739. Conversely, a subpar credit rating could cost as much as $509 more per year.
• The older you get, the cheaper insurance rates become. The difference in BMW 740i car insurance cost between a 50-year-old driver ($2,544 per year) and a 30-year-old driver ($2,974 per year) is $430, or a savings of 14.5%.
• Research discounts to save money. Discounts may be available if the policyholders are claim-free, sign their policy early, work in certain occupations, insure multiple vehicles on the same policy, or many other discounts which could save the average driver as much as $476 per year on their insurance cost.
• The higher the deductibles, the lower the cost. Raising your policy deductibles from $500 to $1,000 could save around $486 per year for a 40-year-old driver and $956 per year for a 20-year-old driver.
• Lowering deductibles makes car insurance more expensive. Decreasing your policy deductibles from $500 to $250 could cost an additional $508 per year for a 40-year-old driver and $1,012 per year for a 20-year-old driver.

Does a xDrive 740i cost more to insure?

The cheapest trim level of BMW 740i to insure is the regular Sedan at $2,796 per year, or about $233 per month. The Sedan model costs around $2,796 per year, an increase of about $50 over the non-xDrive sedan model.

The next table shows average auto insurance policy rates, plus a monthly amount for budgeting, for each 2023 BMW 740i trim level.

Is BMW 740i insurance expensive?

The BMW 740i ranks 15^th out of 26 comparison vehicles in the 2023 full-size luxury sedan category. The 740i costs an average of $2,796 per year to insure, while the class average rate is $2,724 per year, a difference of $72 per year.

When compared to other luxury models, insurance for a BMW 740i costs $816 more per year than the Audi A5, $150 less than the Porsche Panamera, $212 more than the Infiniti Q60, and $90 less than the Audi A8.

When compared to the all-vehicle national average car insurance rate of $1,685, the BMW 740i is obviously going to cost more to insure since it’s sticker price starts at over $85,000.

The chart below shows how well 740i car insurance rates compare to other top-selling full-size luxury cars in America. We also included a table beneath the chart that illustrates insurance rate rankings for all 26 vehicles in the large luxury car segment for the 2023 model year.

How much is insurance on a used BMW 740i?

Insuring a 2013 740i instead of a more expensive 2023 740i could save up to $1,054 each year. Even opting for a more recent 2018 model may save the average driver $538 per year.

The following table details average insurance rates for a BMW 740i from 2013 to 2023 for a range of different driver ages. Prices range from $1,562 for a 60-year-old driver rated on a 2013 BMW 740i to the most expensive rate of $5,592 for a 20-year-old driving a 2023 740i.