Truthfully, the best way to get more affordable Porsche 911 insurance is to start comparing rates regularly from insurance carriers that insure vehicles in Nashville. Price quotes can be compared by following these steps.
- Step 1: Try to learn a little about how car insurance works and the things you can control to prevent expensive coverage. Many risk factors that result in higher prices like traffic violations and a less-than-favorable credit rating can be remedied by paying attention to minor details.
- Step 2: Compare prices from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can give quotes from a single company like GEICO or Farmers Insurance, while independent agents can provide prices from multiple insurance companies.
- Step 3: Compare the new rate quotes to the premium of your current policy and determine if cheaper 911 coverage is available. If you can save money, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Step 4: Notify your current company to cancel your existing policy and submit payment along with a signed and completed policy application to the new company. Immediately upon receiving it, safely store the certificate verifying coverage in a readily accessible location in your vehicle.
A key point to remember is to make sure you’re comparing identical coverage information on every quote request and and to get rate quotes from as many car insurance companies as possible. Doing this ensures a level playing field and many rates to choose from.
It’s a known fact that auto insurance companies want to keep you from shopping around. People who get comparison quotes once a year will, in all likelihood, move their business because of the high probability of finding a lower-priced policy. A study showed that drivers who did price comparisons regularly saved an average of $3,500 over four years compared to drivers who never shopped for cheaper rates.
If finding discount rates on Porsche 911 insurance in Nashville is your ultimate objective, then having an understanding of how to get free comparison quotes and analyze insurance premiums can make the process more efficient.
If you have auto insurance now, you will surely be able to reduce the price you pay using the techniques covered below. Quoting the cheapest coverage in Nashville is not as time-consuming as you think. But Tennessee vehicle owners can benefit from knowing how companies set your policy premium because rates fluctuate considerably.
Rates and information analytics
The coverage table displayed next outlines detailed analysis of insurance premium costs for Porsche 911 models. Learning as much as possible about how policy premiums are calculated can assist in making informed decisions when comparing rate quotes.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|911 Carrera 2 2-Dr Coupe||$274||$574||$288||$18||$86||$1,240||$103|
|911 Carrera 4 2-Dr Coupe||$298||$574||$288||$18||$86||$1,264||$105|
|911 Carrera 2 Cabriolet 2-Dr Convertible||$298||$574||$246||$14||$74||$1,206||$101|
|911 Carrera 2 S 2-Dr Coupe||$298||$574||$288||$18||$86||$1,264||$105|
|911 Carrera 4 Cabriolet 2-Dr Convertible||$298||$574||$246||$14||$74||$1,206||$101|
|911 Carrera 4S 2-Dr Coupe||$298||$628||$288||$18||$86||$1,318||$110|
|911 Carrera Targa 2-Dr Coupe||$298||$628||$288||$18||$86||$1,318||$110|
|911 Carrera 2 S 2-Dr Convertible||$298||$628||$246||$14||$74||$1,260||$105|
|911 Carrera 4S Cabriolet 2-Dr Convertible||$322||$574||$246||$14||$74||$1,230||$103|
|911 Carrera Targa S 2-Dr Coupe||$322||$628||$288||$18||$86||$1,342||$112|
|911 GT3 2-Dr Coupe||$322||$682||$288||$18||$86||$1,396||$116|
|911 GT3 RS 2-Dr Coupe||$368||$736||$288||$18||$86||$1,496||$125|
|911 Turbo 2-Dr Coupe||$368||$736||$288||$18||$86||$1,496||$125|
|911 Turbo 2-Dr Convertible||$368||$790||$246||$14||$74||$1,492||$124|
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Prices do not factor in your specific Nashville location which can change rates significantly.
Do you need full coverage?
The example below illustrates the difference between Porsche 911 insurance costs with and without physical damage coverage. The premiums assume no accidents, no driving violations, $1,000 deductibles, single status, and no discounts are factored in.
Should you pay for full coverage or liability only?
There is no definitive rule of when to eliminate physical damage insurance, but there is a broad guideline. If the yearly cost for physical damage coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then you might want to consider buying only liability coverage.
For example, let’s say your Porsche 911 replacement value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $4,000 after the policy deductible has been paid. If premium cost is more than $400 a year for physical damage coverage, then it might be time to consider dropping full coverage.
There are a few situations where dropping full coverage is not in your best interest. If you still owe money on your vehicle, you have to carry full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.
Porsche 911 Insurance Rate Factors
It’s important that you understand the different types of things that play a part in calculating your policy premiums. When you understand what influences your rates, this allows you to make good choices that could result in better car insurance rates.
Listed below are some of the factors used by companies to determine prices.
Do females or males drive better? – The statistics show that females tend to be a little less risky than males. Now that doesn’t mean females are better drivers. Women and men tend to get into accidents at about the same rate, but the male of the species get into accidents with more damage. Not only that, but men also get more serious tickets like reckless driving and DUI.
The information below compares Porsche 911 insurance prices for male and female drivers. The information is based on no accidents, no driving violations, full physical damage coverage, $250 deductibles, drivers are not married, and no discounts are applied to the premium.
Poor credit score equals high rates – Having a good credit rating is a big factor in your rate calculation. Insureds that have very good credit scores tend to be more responsible and file fewer claims than those with worse credit. Therefore, if your credit history is not that good, you could save money insuring your Porsche 911 by spending a little time repairing your credit.
Performance makes a difference – The make and model of the car you need to insure makes a significant difference in the rate you pay. The best insurance prices will generally be found on the lowest performance passenger models, but many other things help determine your insurance rates.
The chart below is based on a married male driver age 20, full coverage with $500 deductibles, and no discounts or violations. The chart compares Porsche 911 policy rates compared to other models of vehicles that have different performances.
Multi-policy discounts can save money – Lots of companies give discounts to people who buy several policies from them, otherwise known as a multi-policy discount. Even if you already get this discount, it’s in your best interest to check prices from other companies to help guarantee you have the best rates.There is a chance you can save even more by buying from different companies
Small claims can cost you – Auto insurance companies in Tennessee award discounts to insureds that do not abuse their auto insurance. If you tend to file frequent claims, you can look forward to either policy cancellation or increased premiums. Your insurance policy is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
Low physical damage deductibles mean high costs – Physical damage insurance, aka comp and collision, is used to repair damage to your Porsche. Some instances where coverage would apply could be a broken windshield, damage from fire, and burglary. Physical damage deductibles are the amount of money 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 less money you will pay for car insurance.
High premiums for teenage drivers – Mature drivers have been proven to be more responsible, tend to cause fewer accidents, and are generally more financially stable. Beginning drivers have been known to be easily distracted when driving and because of this, their car insurance rates are much higher.
The chart below uses these assumptions: single driver, full coverage with $100 deductibles, and no discounts or violations.
Insurance loss probability for a Porsche 911 – Companies take into consideration insurance loss statistics for every vehicle to help calculate premium rates. Vehicles that statistically have higher number or severity of losses will have increased rates.
The data below shows the historical insurance loss data for Porsche 911 vehicles. For each insurance policy coverage type, the claim probability for all vehicles as a whole is a value of 100. Percentage values below 100 suggest a positive loss record, while values over 100 point to more frequent losses or an increased likelihood of larger losses.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Porsche 911 Carrera 2dr||191||47||173||24|
|Porsche 911 Carrera Convertible||197||51||224||36|
|Porsche 911 Turbo 2dr 4WD||349||367|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Don’t give up on affordable rates
We just covered some good ideas how you can lower your Porsche 911 insurance premium rates in Nashville. The key thing to remember is the more times you quote, the more likely it is that you will get a better rate. You may even be surprised to find that the lowest premium rates are with some of the smallest insurance companies.
A few companies may not have online quoting and usually these regional insurance providers only sell through independent agencies. Lower-priced auto insurance in Nashville can be sourced online as well as from independent agents in Nashville, and you should be comparing both to get a complete price analysis.
As you restructure your insurance plan, do not skimp on coverage in order to save money. In many cases, an insured cut liability limits or collision coverage and found out when filing a claim that the savings was not a smart move. Your strategy should be to purchase a proper amount of coverage at the lowest possible cost, but don’t skip important coverages to save money.
Additional detailed information can be found by following these links:
- Safety Tips for Teen Drivers (Insurance Information Institute)
- Who Has the Cheapest Auto Insurance Rates for Used Cars in Nashville? (FAQ)
- Who Has the Cheapest Auto Insurance for Single Moms in Nashville? (FAQ)
- Who Has the Cheapest Auto Insurance for a Learners Permit in Nashville? (FAQ)
- Who Has the Cheapest Nashville Auto Insurance for a Nissan Altima? (FAQ)
- Information for Teen Drivers (GEICO)
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)
- What are my Rights when Filing a Claim? (Insurance Information Institute)