BMW 740i Car Insurance Rates for 2023

Is a BMW 740i expensive to insure? We break down rates for all models back to the 2013 model year to see how insurance compares to other large luxury cars.

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  • 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 15th 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.

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Chart Data Details: Chart shows average insurance cost for a 2023 BMW 740i with safe driver and claim-free discounts applied. Rates are for full-coverage insurance and averaged for all U.S. states and all BMW 740i trim levels.Data last updated on January 23, 2023
BMW 740i Car Insurance Rate Summary
2023 BMW 740i Insurance Cost by Driver Age and Deductibles
Driver Age Deductible Annual Cost Monthly Cost
20$1,000$4,636$386
$500$5,592$466
$250$6,604$550
30$1,000$2,442$204
$500$2,974$248
$250$3,526$294
40$1,000$2,310$193
$500$2,796$233
$250$3,304$275
50$1,000$2,106$176
$500$2,544$212
$250$3,002$250
60$1,000$2,068$172
$500$2,498$208
$250$2,950$246

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.

2023 BMW 740i Insurance Cost by Trim Level
BMW 740i Trim Level Annual Policy Six-Month Policy Per Month
Sedan$2,796$1,398$233

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Table Data Details: Average rates are for a 2023 BMW 740i, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium. Physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on February 5, 2023
BMW 740i Insurance Cost by Trim Level

Is BMW 740i insurance expensive?

The BMW 740i ranks 15th 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.

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Chart Data Details: Average rates are for a 2023 model year BMW 740i, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium, which is averaged for all BMW 740i trim levels. Physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on January 23, 2023
BMW 740i vs Top 10 Large Luxury Cars Insurance Cost Comparison
BMW 740i Insurance Cost Compared to All Large Luxury Cars
Rank Make/Model Insurance Cost Difference
1Audi A5$1,980-$816
2Volvo S90$2,230-$566
3Lexus LS 500$2,304-$492
4Mercedes-Benz AMG E53$2,318-$478
5Genesis G90$2,330-$466
6BMW i7$2,346-$450
7Mercedes-Benz AMG GT43$2,368-$428
8Lexus LS 500h$2,446-$350
9BMW 840i$2,514-$282
10Mercedes-Benz EQS 450$2,570-$226
11Infiniti Q60$2,584-$212
12Mercedes-Benz S500$2,598-$198
13Audi RS 7$2,654-$142
14Mercedes-Benz EQS 580$2,666-$130
15BMW 740i$2,796--
16BMW M850i$2,832$36
17Mercedes-Benz AMG EQS$2,852$56
18Audi A8$2,886$90
19Audi S8$2,902$106
20Porsche Panamera$2,946$150
21BMW 760i$2,978$182
22Mercedes-Benz S580$3,046$250
23BMW Alpina B8$3,234$438
24BMW M760i$3,336$540
25Mercedes-Benz Maybach S580$3,436$640
26Mercedes-Benz Maybach S680$3,666$870

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.

BMW 740i Insurance Cost by Model Year
Model Year and Vehicle Driver Age 20 Driver Age 40 Driver Age 60
2023 BMW 740i$5,592$2,796$2,498
2022 BMW 740i$5,500$2,744$2,454
2021 BMW 740i$5,332$2,656$2,374
2020 BMW 740i$5,250$2,612$2,336
2019 BMW 740i$4,684$2,334$2,088
2018 BMW 740i$4,542$2,258$2,026
2017 BMW 740i$4,268$2,124$1,904
2016 BMW 740i$4,096$2,036$1,828
2015 BMW 740i$3,828$1,912$1,710
2014 BMW 740i$3,638$1,814$1,624
2013 BMW 740i$3,494$1,742$1,562

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates for each driver age group are for a 12-month period and assume a clean driving record and no at-fault accidents. Full coverage physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on January 23, 2023
BMW 740i Insurance Cost by Model Year