- BMW 740i car insurance rates cost an average of $2,872 per year, $1,436 for a 6-month policy, or $239 per month, depending on the trim level.
- The cheapest BMW 740i insurance is the on the base Sedan at around $2,872 per year, and the most expensive trim being the Sedan at $2,872 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 $2,872 a year for full coverage, or $239 each month. With the average large luxury car costing $2,797 a year to insure, insuring a BMW 740i costs an average of $75 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.
|Driver Age||Deductible||Annual Cost||Monthly Cost|
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 $2,566 up to the average rate for a 20-year-old driver of $5,742 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 $4,032 per year for a 20-year-old driver and even as much as $856 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 $4,456 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 $86 and $183 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 $451 per year versus a credit rating of 670-739. Conversely, a subpar credit rating could cost as much as $523 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 ($2,612 per year) and a 30-year-old driver ($3,050 per year) is $438, or a savings of 15.5%.
- 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 $488 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 $498 per year for a 40-year-old driver and $984 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 $520 per year for a 40-year-old driver and $1,038 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 $2,872 per year, or about $239 per month. The Sedan model costs around $2,872 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.
|BMW 740i Trim Level||Annual Policy||Six-Month Policy||Per Month|
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 $2,872 per year to insure, while the class average rate is $2,797 per year, a difference of $75 per year.
When compared to other luxury models, insurance for a BMW 740i costs $842 more per year than the Audi A5, $150 less than the Porsche Panamera, $218 more than the Infiniti Q60, and $92 less than the Audi A8.
When compared to the all-vehicle national average car insurance rate of $1,728, 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.
|3||Lexus LS 500||$2,366||-$506|
|4||Mercedes-Benz AMG E53||$2,378||-$494|
|7||Mercedes-Benz AMG GT43||$2,432||-$440|
|8||Lexus LS 500h||$2,512||-$360|
|10||Mercedes-Benz EQS 450||$2,640||-$232|
|13||Audi RS 7||$2,726||-$146|
|14||Mercedes-Benz EQS 580||$2,736||-$136|
|17||Mercedes-Benz AMG EQS||$2,928||$56|
|23||BMW Alpina B8||$3,320||$448|
|25||Mercedes-Benz Maybach S580||$3,530||$658|
|26||Mercedes-Benz Maybach S680||$3,764||$892|
How much is insurance on a used BMW 740i?
Insuring a 2013 740i instead of a more expensive 2023 740i could save up to $1,084 each year. Even opting for a more recent 2018 model may save the average driver $554 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 $1,604 for a 60-year-old driver rated on a 2013 BMW 740i to the most expensive rate of $5,742 for a 20-year-old driving a 2023 740i.
|Model Year and Vehicle||Driver Age 20||Driver Age 40||Driver Age 60|
|2023 BMW 740i||$5,742||$2,872||$2,566|
|2022 BMW 740i||$5,644||$2,822||$2,520|
|2021 BMW 740i||$5,472||$2,726||$2,436|
|2020 BMW 740i||$5,390||$2,682||$2,398|
|2019 BMW 740i||$4,810||$2,392||$2,142|
|2018 BMW 740i||$4,664||$2,318||$2,076|
|2017 BMW 740i||$4,380||$2,180||$1,954|
|2016 BMW 740i||$4,206||$2,092||$1,874|
|2015 BMW 740i||$3,934||$1,964||$1,754|
|2014 BMW 740i||$3,736||$1,862||$1,668|
|2013 BMW 740i||$3,588||$1,788||$1,604|