Are you searching for lower-priced Porsche Cayman insurance in Charlotte? Sick and tired of not being able to afford to pay high insurance rates every month? You are in the same boat as the majority of other people in North Carolina.
It’s hard to believe, but nearly 70% of drivers have been with the same company for a minimum of four years, and 38% of drivers have never compared rate quotes at all. With the average premium in North Carolina being $976, drivers could save themselves up to 10% a year, but most tend to underestimate the amount of money they would save if they switched.
How to find discount Porsche Cayman insurance in Charlotte
Really, the only way to find affordable Porsche Cayman insurance is to regularly compare quotes from insurance carriers who provide auto insurance in Charlotte. Rates can be compared by completing these steps.
- Step 1: Try to understand what coverages are included in your policy and the steps you can take to drop your rates. Many things that cause high rates like your driving record and a substandard credit history can be improved by making minor driving habit or lifestyle changes. Keep reading for ideas to get low prices and get additional discounts that may have been overlooked.
- Step 2: Quote rates from direct, independent, and exclusive agents. Direct and exclusive agents can only provide price estimates from a single company like GEICO and Allstate, while independent agents can give you price quotes from many different companies.
- Step 3: Compare the quotes to your existing coverage to see if a cheaper rate is available in Charlotte. If you find better rates and change companies, make sure coverage does not lapse between policies.
- Step 4: Give notification to your agent or company to cancel your current auto insurance policy and submit payment and a signed application to your new insurance company. Once coverage is bound, keep the new certificate verifying coverage somewhere easily accessible.
One piece of advice is that you’ll want to compare the same amount of coverage on every quote and and to compare all possible companies. This guarantees the most accurate price comparison and the best rate selection.
Due to the increasing number of choices for buying cheap insurance for a Porsche Cayman in Charlotte, it’s difficult to locate a lower cost insurance provider.
The best way to compare car insurance rates for Porsche Cayman insurance in Charlotte takes advantage of the fact almost all companies participate in a system to give you rate quotes. All consumers are required to do is provide information like marital status, if you went to college, whether or not you need a SR-22, and your job. Your details is instantly submitted to multiple companies and they return cost estimate immediately.
To check rates for your Porsche Cayman now, click here and see if a lower rate is available in Charlotte.
The companies shown below offer free quotes in Charlotte, NC. If multiple companies are listed, we recommend you visit as many as you can in order to find the lowest rates.
Porsche Cayman coverage analysis
The coverage table shown below covers detailed analysis of prices for Porsche Cayman models. Being aware of how prices are established can be useful when making smart choices when selecting a coverage provider.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cayman 2-Dr Coupe | $266 | $498 | $250 | $14 | $74 | $1,102 | $92 |
| Cayman S 2-Dr Coupe | $266 | $556 | $250 | $14 | $74 | $1,160 | $97 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Price estimates do not factor in specific location information which can increase or decrease coverage rates greatly.
An analysis of deductible level
When shopping for car insurance, a common question is how high or low should comp and collision deductibles be. The rates below approximate the price difference when you buy lower versus higher physical damage coverage deductibles. The first table uses a $100 physical damage deductible and the second set of rates uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cayman 2-Dr Coupe | $298 | $594 | $250 | $14 | $74 | $1,255 | $105 |
| Cayman S 2-Dr Coupe | $298 | $662 | $250 | $14 | $74 | $1,323 | $110 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cayman 2-Dr Coupe | $216 | $402 | $250 | $14 | $74 | $956 | $80 |
| Cayman S 2-Dr Coupe | $216 | $448 | $250 | $14 | $74 | $1,002 | $84 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, multi-vehicle, and claim-free. Prices do not factor in specific location which can impact prices considerably.
Based on the figures above, using a $100 deductible would cost the average driver about $26 more each month or $312 each year across all Porsche Cayman models than buying the higher $500 deductible. Since you would have to pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you tend to go more than 15 months between claims, you would probably come out ahead going with the higher deductible.
The chart below highlights how deductible choice and can impact Porsche Cayman premium costs for different age groups. The costs are based on a single male driver, full coverage, and no discounts are taken into consideration.
Three reasons to not skimp on auto insurance
Despite the fact that auto insurance is not cheap in Charlotte, insuring your vehicle may be required and benefits you in several ways.
First, most states have mandatory liability insurance requirements which means you are required to carry a specific minimum amount of liability protection in order to license the vehicle. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if you bought your Cayman with a loan, most banks will force you to buy insurance to ensure they get paid if you total the vehicle. If you do not keep the policy in force, the lender will be forced to insure your Porsche at an extremely high rate and force you to reimburse them the higher premium.
Third, auto insurance protects both your vehicle and your assets. It will also pay for all forms of medical expenses for you, any passengers, and anyone injured in an accident. Liability insurance also pays for attorney fees and expenses if you are sued as the result of an accident. If mother nature or an accident damages your car, your auto insurance policy will pay to repair the damage minus the deductible amount.
The benefits of carrying adequate insurance more than offset the price you pay, especially if you ever need it. According to a survey of 1,000 drivers, the average driver is overpaying over $820 a year so you should quote rates at every renewal to save money.
Smart Buyers Know How to Find Insurance More Affordably
When buying insurance it’s important to understand some of the elements that help calculate your insurance rates. If you know what influences your rates, this enables informed choices that could help you find better insurance rates. Multiple criteria are part of the equation when you quote your car insurance policy. A few of the factors are predictable such as your driving record, but some are not quite as obvious like your vehicle usage or how financially stable you are.
Shown below are some of the major factors used by companies to determine your premiums.
Too many insurance claims will drive insurance rates up – Insurance companies in North Carolina award most affordable rates to insureds who are claim-free. If you are a frequent claim filer, you can expect increased rates or even have your policy non-renewed. Insurance coverage is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
Marriage discount – Getting married can get you a discount on your insurance bill. Having a spouse demonstrates that you tend to be more financially stable and statistics prove married drivers get in fewer accidents.
Gender and insurance coverage costs – Statistics demonstrate that women are safer drivers than men. It does not mean women are better drivers. Women and men cause accidents in similar numbers, but the men have costlier accidents. Men also get cited for more serious violations such as reckless driving. Males from age 16 to 21 are several times more likely to be in an accident and therefore have the most expensive insurance rates.
The chart below shows the difference between Porsche Cayman insurance prices for male and female drivers. The premium estimates are based on no driving violations, no at-fault accidents, full physical damage coverage, $1,000 deductibles, drivers are not married, and no other discounts are factored in.
Extra coverages can add up – Insurance companies have many additional extra coverages that can waste your money on your insurance policy. Coverages for rental car coverage, accidental death, and membership fees could be just wasting money. These may sound like a good investment initially, but if you have no use for them get rid of them and save.
Vehicle risk impacts prices – The performance level of the car, truck or SUV you are insuring makes a substantial difference in the rate you pay. The most favorable rates are for lower performance four cylinder passenger vehicles, but there are many factors that impact the final cost.
The chart below uses these assumptions: single male driver age 50, full coverage with $500 deductibles, and no discounts or violations. The data compares Porsche Cayman insurance rates compared to other models of vehicles that have a range of performance rating factors.
Porsche Cayman claim probability – Insurance companies use statistical claims data to calculate a rate that offsets possible losses. Models that are shown to have a higher amount or frequency of claims will cost more to insure. The table below outlines the compiled insurance loss statistics for Porsche Cayman vehicles.
For each policy coverage type, the loss probability for all vehicles, without regard to make or model, is considered to be 100. Percentages below 100 mean the vehicle has better than average losses, while percentage numbers above 100 point to more losses or statistically larger claims.
| Vehicle 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
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
The best rates come from being thorough
We just presented a lot of tips how to compare Porsche Cayman insurance car insurance rates in Charlotte. The most important thing to understand is the more rate comparisons you have, the better chance you’ll have of finding low cost Charlotte auto insurance quotes. Consumers may even find the best price on insurance is with a small mutual company. Regional companies can often provide lower premium rates in certain areas than their larger competitors like GEICO and State Farm.
Cheaper insurance in Charlotte is available both online as well as from independent agents in Charlotte, and you need to price shop both to get a complete price analysis. Some companies may not offer internet price quotes and many times these small insurance companies sell through independent agents.
Steps to finding lower priced Porsche Cayman insurance in Charlotte
If you want to find the absolute lowest rates, then the best way to quote cheaper Porsche Cayman insurance is to start comparing prices regularly from insurance carriers in Charlotte.
- Step 1: Spend some time learning about how your policy works and the factors you can control to prevent high rates. Many rating factors that are responsible for high rates like getting speeding tickets and an unacceptable credit history can be eliminated by making minor driving habit or lifestyle changes.
- Step 2: Request price quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can provide rates from a single company like Progressive or Farmers Insurance, while independent agents can quote prices for a wide range of companies.
- Step 3: Compare the new rate quotes to your existing policy and see if there is a cheaper rate in Charlotte. If you find better rates, make sure coverage does not lapse between policies.
- Step 4: Notify your agent or company of your intention to cancel your current coverage. Submit a completed policy application and payment for the new coverage. Immediately place the new certificate verifying proof of insurance in your vehicle.
An important bit of advice to remember is to try to use similar limits and deductibles on each quote and to quote with every company you can. Doing this guarantees an apples-to-apples comparison and the best price quote selection.
Even more information can be found in these articles:
- Senior Drivers (Insurance Information Institute)
- Who Has Cheap Charlotte Auto Insurance Quotes for Drivers Requiring a SR22? (FAQ)
- How Much is Auto Insurance for Single Moms in Charlotte? (FAQ)
- Understanding Rental Car Insurance (Insurance Information Institute)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- Vehicle Size and Weight FAQ (iihs.org)