Trying to find cheaper insurance for a new or used Porsche Cayman in Texas can be a painful process, but you can learn a few tricks to find lower rates. There are more efficient ways to compare car insurance rates and you need to know the quickest way to quote coverages for a new or used Porsche and locate the lowest possible price from both online companies and Austin agents.
Consumers need to get comparison quotes before your policy renews due to the fact that insurance prices are variable and change quite frequently. Even if you got the best deal on Porsche Cayman insurance in Austin on your last policy the chances are good that you can find a lower rate today. Block out anything you think you know about car insurance because you’re about to learn the quickest way to reduce your cost while improving coverage.
Affordable car insurance in Austin, TX
The companies in the list below offer price comparisons in Austin, TX. If more than one company is shown, we recommend you visit two to three different companies to get the lowest price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cayman 2-Dr Coupe||$196||$408||$366||$22||$110||$1,102||$92|
|Cayman S 2-Dr Coupe||$350||$842||$358||$22||$108||$1,680||$140|
|Get Your Own Custom Quote Go|
Table data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Rates do not factor in vehicle garaging location which can alter rates substantially.
The chart below demonstrates how deductible levels and can impact Porsche Cayman insurance premiums for each different age group. The premiums are based on a single female driver, full physical damage coverage, and no discounts are taken into consideration.
Auto insurance premiums based on gender
The example below compares Porsche Cayman premium costs for male and female drivers. The data assumes no claims or driving violations, comp and collision included, $100 deductibles, marital status is single, and no additional discounts are factored in.
Full coverage versus liability-only
The diagram below visualizes the comparison of Porsche Cayman insurance costs with liability coverage only compared to full coverage. The premium estimates are based on no violations or accidents, $1,000 deductibles, single male driver, and no discounts are applied.
Should you pay for full coverage?
There is no definitive rule to delete physical damage coverage on your policy, but there is a general guideline. If the yearly cost of comp and collision coverage is more than around 10% of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let’s assume your Porsche Cayman claim settlement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $2,000 after paying the physical damage deductible. If it’s costing in excess of $200 a year for your policy with full coverage, then you might want to think about dropping full coverage.
There are a few situations where removing full coverage is not advised. If you still owe a portion of the original loan, you have to keep full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should keep full coverage in place.
What Determines Porsche Cayman Insurance Premiums?
One of the most helpful ways to save on auto insurance is to to have a grasp of the rating factors that come into play when calculating the level of your policy premiums. When you understand what influences your rates, this allows you to make educated decisions that could result in big savings. Multiple criteria are used when you get your auto insurance bill. Some factors are common sense like a motor vehicle report, but other criteria are not as apparent like your continuous coverage or how financially stable you are.
Shown below are most of the major factors that factor into your premiums.
Gender and auto insurance prices – Statistics have proven females are less aggressive when driving. That doesn’t necessarily mean that men are worse drivers. They both have auto accidents in similar percentages, but guys get into accidents with more damage. Men also tend to get cited for more serious violations such as reckless driving. Young males are several times more likely to be in an accident and thus pay the highest rates.
More than one policy can earn a discount – Many insurance companies will give a discount for people who consolidate policies with them such as combining an auto and homeowners policy. The amount of the discounts can be anywhere from five to ten percent in most cases. Even if you already get this discount, it’s always a smart idea to get quotes from other companies to confirm you are receiving the best rates possible. It’s possible to still save even more even if you insure with multiple companies
Optional features impact auto insurance rates – Purchasing a vehicle with a theft deterrent system can help lower your premiums. Anti-theft devices like OnStar, LoJack tracking, and tamper alarms all help stop auto theft and help lower rates.
Save money by raising coverage deductibles – Physical damage protection, also called comprehensive and collision insurance, is used to repair damage to your Porsche. Examples of some claims that would be covered could be a windshield shattered by a rock, flood damage, and damage from a fallen tree branch. Your deductibles are how much you are willing to pay out-of-pocket if a covered claim is submitted. The more of the claim you are required to pay out-of-pocket, the better rate you will receive.
Claims statistics for a Porsche Cayman – Companies use claims history to help calculate a profitable premium rate. Models that the data shows to have higher claim amounts or frequency will have a higher cost to insure.
The data below shows the collected loss data for Porsche Cayman vehicles. For each insurance policy coverage type, the loss probability for all vehicles combined as an average equals 100. Percentage values below 100 represent a good loss history, while percentage numbers above 100 point to more claims or statistically larger claims.
Porsche Cayman Insurance Loss Statistics
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Porsche Cayman 2dr||183||40||99||36|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Austin insurance discounts for a Porsche Cayman
Insurance can be pricey, but you may be missing some discounts to help bring down the price. Some of these discounts will be visible when you quote, but some need to be inquired about before they will apply.
- Anti-theft System – Cars with anti-theft systems are stolen less frequently and earn discounts up to 10% off your Austin car insurance quote.
- Air Bag Discount – Vehicles equipped with air bags or automatic seat belts may get savings of 20% or more.
- No Accidents – Drivers who don’t have accidents can save substantially as compared to accident-prone drivers.
- Payment Method – If you can afford to pay the entire bill instead of monthly or quarterly installments you could save 5% or more.
- Early Renewal Discounts – Some companies give discounts for buying a new policy early. The savings is around 10%.
- Telematics Devices – Drivers who elect to allow driving data collection to analyze vehicle usage through the use of a telematics system such as Snapshot from Progressive or Drivewise from Allstate may see discounts as long as the data is positive.
- Membership in Organizations – Affiliation with specific professional or occupational memberships or organizations could qualify you for a break on insurance.
- Own a Home – Owning a house in Austin can get you a discount due to the fact that maintaining a home is proof that your finances are in order.
Just know that many deductions do not apply to your bottom line cost. Most only cut the cost of specific coverages such as physical damage coverage or medical payments. So when it seems like you could get a free insurance policy, it’s just not the way it works. But any discount should help reduce your policy premiums.
Some of the larger companies that have most of these discounts include:
Before purchasing a policy, check with every insurance company which discounts you may be entitled to. Some of the earlier mentioned discounts might not apply in every state. To find insurance companies who offer insurance discounts in Austin, follow this link.
When should I talk to an insurance agency?
Some people would prefer to talk to a local agent and that can be a smart move Licensed agents can help you build your policy and will help you if you have claims. One of the benefits of comparing rate quotes online is that drivers can save money and get the best rates but still work with a licensed agent.
Once you complete this short form, your insurance coverage information gets sent to local insurance agents in Austin who will give you bids for your coverage. You don’t have to contact an agency because prices are sent to you. In the event you want to get a price quote from one company in particular, just find their quoting web page and fill out the quote form the provide.
Picking an company is decision based upon more than just a cheap price quote. These are some questions you should get answers to.
- Does the agency have a positive business rating?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- How long has their agency been open in Austin?
- Does the agency provide any after hours assistance?
- Are they involved in claim handling?
- How many companies do they write for?
- Is the coverage adequate for your vehicle?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
Are auto insurance companies telling the truth?
Consumers can’t escape the ads for auto insurance savings from companies such as State Farm, Allstate and GEICO. All the companies have a common claim about savings just by switching your auto insurance policy to them.
That’s great but how can every company save you money on Porsche Cayman insurance in Austin? It’s all in the wording.
Companies have underwriting criteria for the type of customer that will add to their bottom line. For example, this type of risk profile could be between the ages of 30 and 50, has no claims, and has a high credit rating. A customer getting a price quote who matches those parameters will get very good Austin premium rates and as a result will probably save when switching.
Drivers who may not quite match this ideal profile will probably have to pay a higher rate which results in business going elsewhere. Company advertisements say “drivers that switch” but not “everyone who gets a quote” save money. That is how insurance companies can make it sound like they have such great rates. Because each company has a different risk profile, you should compare as many free Austin car insurance quotes as you can. Because without a comparison, you cannot know which insurance companies will have better prices than you’re paying now.
Quote. Compare. Save.
Some companies do not offer the ability to get a quote online and these small insurance companies provide coverage only through independent agents. Low-cost Porsche Cayman insurance in Austin can be sourced from both online companies and from local insurance agents, so you should be comparing quotes from both so you have a total pricing picture.
We’ve covered some good ideas how to reduce Porsche Cayman insurance rates online in Austin. The most important thing to understand is the more rate comparisons you have, the better chance you’ll have of finding affordable Austin car insurance quotes. You may even discover the lowest rates come from the least-expected company.
When searching for affordable Porsche Cayman insurance quotes, it’s not a good idea to skimp on coverage in order to save money. In many cases, an accident victim reduced full coverage only to find out that their decision to reduce coverage ended up costing them more. The aim is to get the best coverage possible at an affordable rate while not skimping on critical coverages.
Additional detailed information is located in these articles:
- What Does No-Fault Insurance Cover? (Allstate)
- Who Has Cheap Car Insurance Rates for Drivers with a Bad Driving Record in Austin? (FAQ)
- What Insurance is Cheapest for a Toyota Corolla in Austin? (FAQ)
- Teen Driving Statistics (GEICO)
- What is Gap Insurance? (Insurance Information Institute)