How Much Does Porsche Auto Insurance Cost
Porsche’s are considered to be the manufacturers of top-notch sports cars that deliver maximum performance and reliability. Their German engineering and quality workmanship muster a high price tag on owning one of the vehicles which unequivocally also drives the cost of insuring them. Naturally, someone buying such cars would surely want to protect it, and often, getting the maximum possible coverage for the same will be their invariable choice.
Based on the high price and other factors related to the vehicle such as its safety ratings, possibilities of being stolen, damaged, vandalized, and or replacement will all play a crucial role in discerning its annual or monthly payable auto insurance rates. It is beneficial to learn that having a higher safety rating might help with shaving off some of the costs associated with insuring the vehicle.
For example, the Porsche 911 insurance cost of monthly payments could average $105 based on its showroom price of $89,500. Similarly, the Porsche Boxster insurance cost is also near-identical though it has a low base price of $53,000. This is because the mileage of the car, its variant package, and other car-related factors are also accounted for in the process of determining the proper value of the insurance premiums.
Ideal Porsche Car Insurance Coverage To Buy
Getting a Porsche is a matter of pride and prestige and you wouldn’t want to dent it or let it shatter due to driving one of them while it cannot perform its best. It should be known that repairing such vehicles can prove to be astronomical in difference when compared to repairing or replacing a cost-effective vehicle. Thus, picking the best possible coverage for your Porsche will help you better manage the maintenance costs while also ensuring that you, the driver, should also own adequate protection in the chances where you may get involved in crashes or accidents.
Get the following basic types of coverage can better help you remain at peace of mind after owning a Porsche:
- Bodily Injury Liability – This is the minimum state law that demands coverage that must be purchased to become eligible to drive the vehicle on the streets without getting penalized for traffic violations. It will serve to pay for the medical bills and car repair costs when you are involved in an unfortunate accident where the opposite party is injured.
- Property Damage Liability – Such coverage can help you pay for costs associated with damaging someone else’s property with your car no matter whether it is private or public. Some states also mandatorily require an owner to get this type of coverage to ensure safety.
- Personal Injury Protection – Whoever may be at fault for causing an accident or being the reason why you and your passengers are hurt inside the vehicle owned by you, this type of coverage will pay for the medical bills of you and your passengers. Although this type of insurance isn’t required by the state to compulsorily purchase, owning it all the same, especially while owning a sports car is a no-brainer.
- Third-Party Motorist Coverage – For when you are subjected to an accident inside the car owned by you because of a motorist being at fault, whose liability insurance has expired or surpassed the coverage limit; you will be able to claim the cost of repairs for your vehicle and the medical expenses for treating any bodily injury when you own this type of coverage.
Types Of Porsche Insurance Company Offered Optional Coverage
Apart from securing the basic types of coverage that can prove to be worthwhile for their cost, getting the following coverage additionally, will translate to having all-round protection for your vehicle which metaphorically costs remarkably higher than the college education of two students..
- Collision Coverage – If your car has met with a crash with another vehicle or an object, getting this type of coverage can help you with paying the repair costs as well as the possible replacement cost when the engine is found to be totaled.
- Glass Coverage – A fine vehicle such as Porsche might attract onlookers out of which, some may be notoriously jealous which can drive them to damage the glasses of your car. There are also other reasons why the glass on a vehicle can get damaged and replacing it will not become a matter of taking stress when you have bought the glass coverage.
- Comprehensive Coverage – Imagine scenarios such as an object falling on your Porsche, hitting an animal with your car, being run over by Tanks in a national emergency, and other outlandish incidents that can damage your car are covered for repair or replacement costs in this insurance coverage. It also includes paying for expenses when your vehicle has been subjected to theft, vandalism, natural calamity, and other logical factors.
- Gap Coverage – When you are unable to pay for your vehicle’s pending loan difference that is over the market value of your car, this type of coverage manages the leftover payment of expenses that you owe the manufacturer or lender after the insurance value of your car is deduced from your debt amount.
Factors That Affect Porsche Insurance Cost
- Performance – Owning a Porsche is no joke because the machines under the hood can pump out serious power that is capable of transporting a person to another location that is hundreds of miles away in a matter of less than an hour. For factual reasons, such mobility is closer to the displacement observed when a person is flying
- Mileage – A vehicle that is driven over 15,000 miles annually will have to pay slightly more amount in their monthly insurance premiums as compared to someone who has put fewer miles in the vehicle on a yearly basis. A good example of this is the cost of Porsche insurance for 18 year old is greater because their driving mileage can be higher than someone over the age of 40 years who uses the vehicle less frequently.
- Driving History – The driving abilities of younger drivers vary vastly from the driving prowess of an experienced driver who is also an adult. Thus, the cost of Porsche Boxster insurance for 17 year old will always be higher than what is required to be paid by an adult driver.
- Market Value – The base price or the showroom price also contributes to determining the cost of insurance for your Porsche. The higher the trim of the vehicle with additional packages is the higher cost that will be added to the total of your monthly auto insurance premiums.
Is Cheap Porsche Car Insurance Enough?
To ascertain how much auto insurance is correct for the type of car you may own, looking at some statistics that define the difference it makes to insurance for a luxury car can help you get surer about the coverage you might need to purchase.
- Drivers under the high-risk category pay between 40% to %150 more on average monthly premiums than the other type of drivers that are viewed to be a safe bet for the car insurance companies.
- After becoming involved in an at-fault accident in your Porsche and claiming insurance coverage for the same, you should expect to pay between $2,500 to $3,300 extra on an annual basis.
- A driver that chooses to get higher deductibles and has a near-clean yet reliable driving record is only subjected to pay between $1,800 to $2,000 annually on their car insurance.
- Installing safety features in your vehicle as well as having a good credit score can bring down the cost of your monthly average premiums and annual car insurance cost by a significant amount.
Porsche Insurance Quotes And Average Coverage Costs
A Porsche auto insurance quote is on average between $110 to $120 for monthly payments which include the basic coverage. Full coverage for Porsche Cayenne car insurance can reach $450 from $115 whereas the same can be said for the Porsche Cayman insurance that sits at a low $108 for basic coverage.
The newer Porsche Macan insurance cost is rather higher with basic coverage between $220-$250 due to the specifications of the vehicle and its newer showroom price. These rates can vary for you depending on the types of additional coverage that you choose or leave out or buy when purchasing car insurance. Either way, make sure to use similar details at the sources where you obtain quotes to gain competitive prices and also seek out additionally applicable discounts that you can use to your benefit.
Lastly, always compare the quotes from different sources of car insurance companies to get the best deal instead of impulse buying.
Here Are Important FAQs
Our average price is close to $2,000 per year. The cost of a Porsche car insurance policy depends on the age and model of your Porsche. To get an instant quote for your vehicle, just fill in the form on our website.
Yes, as you expect, a Porsche is indeed expensive to insure. The premium charged for Porsche insurance is on the higher end.
About The Author
Andy Walker is a freelance content writer who specializes in writing for insurance and finance related niches. He has years of experience in this field and has written extensively on a variety of topics. Andy’s work is always highly polished and well-researched, ensuring that his clients are always happy with the results.