Best Auto Insurance for Porsche

Like all luxury brands, car insurance for a Porsche is more expensive than for a standard vehicle. So while you can find a brand-new Porsche for under $60,000, you can easily spend more than $100,000. These large price tags lead to expensive car insurance rates, primarily because repair costs are much higher.

However, car insurance for high-end cars considers more than repair costs — you’ll also see higher rates for Porsche models that accelerate quickly. On the other hand, vehicles that aren’t sports cars — like the Macan — can be much cheaper.

Read on to learn how much Porsche car insurance costs, which companies have the lowest rates, and how to save. Then, compare quotes from as many companies as possible to find the best price.

How much is car insurance for a Porsche?

The average brand-new Porsche can run quite high, with one of the cheapest options a hefty $55,000. With models easily exceeding $100,000, Porsche is one of the pricier luxury vehicles commonly seen on the road. Not only will you pay a lot to buy your Porsche, but you’ll also incur higher insurance rates.

Luxury insurance costs more for several reasons, regardless of the brand. One of the biggest reasons you’ll see higher car insurance rates for high-end cars is that they cost more. The more a car costs to buy, the more it costs to repair or replace, leading to higher insurance rates.

Additionally, drivers of high-performance cars like Porsches and other luxury models are more likely to get tickets for speeding or reckless driving. The increased likelihood of getting a ticket leads to an overall increase in insurance costs for all Porsche models.

The average full coverage car insurance policy costs $147 a month in the U.S. for people with standard cars. However, due to the luxury classification of a Porsche, the average price of full coverage insurance increases to $275 a month.

Finding affordable Porsche car insurance costs can be tricky, but it’s not impossible. From the average insurance cost for Porsche Cayenne to Porsche Panamera car insurance, you can save money on your luxury coverage by comparing quotes, finding discounts, and keeping your driving record clean.

Porsche Car Insurance Costs by Company

One of the most important aspects of finding affordable insurance is comparing auto insurance rates with as many companies as possible. Whether you’re looking for car insurance for a Porsche Panamera or a Macan, State Farm is probably your cheapest option.

Compared to State Farm’s average monthly rate of $204, Geico car insurance is one of the most expensive options for a Porsche. At $364 a month, Geico customers will pay more than $150 than they would at State Farm.

Porsche Car Insurance Costs by Model

As a high-performance, luxury vehicle, a Porsche will always cost more to insure than regular cars. However, some models come with cheaper rates than others. The amount you pay for insurance depends on various factors affecting your auto insurance rates. Still, some of Porsche’s most popular models have the following average rates:

• Porsche Macan — $189 per month, or $2,268 per year
• Porsche Cayenne — $232 per month, or $2,784 per year
• Porsche 718 Cayman — $239 per month, or $2,868 per year
• Porsche 718 Boxster — $241 per month, or $2,892 per year
• Porsche 718 Spyder — $289 per month, or $3,468 per year
• Porsche Taycan Turbo — $300 per month, or $3,600 per year
• Porsche Panamera — $303 per month, or $3,636 per year
• Porsche 911 Carrera — $232 per month, or $2,784 per year
• Porsche 911 Turbo S — $372 per month, or $4,464 per year

The model Porsche you choose to buy significantly impacts your rates, as seen above. For example, Porsche Cayenne insurance costs about $232 a month, much cheaper than most other models. On the other hand, Porsche Panamera insurance costs much more and is one of the most expensive models.

There are several reasons why some models are more expensive than others. For example, the Porsche Macan insurance costs are some of the cheapest because it’s a compact SUV rather than a sports car.

Other models, like the 911 Carrera and Turbo S, are expensive because they have large price tags. The more your car costs, the more likely repairs costs will also be high.

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Does Porsche sell car insurance?

Porsche allows drivers to purchase car insurance directly rather than going to traditional sources like State Farm or Progressive. Mile Auto Insurance underwrites Porsche’s insurance and has two options: traditional and pay-per-mile auto insurance.

Insurance rates from Porsche won’t be your cheapest option, but it comes with the following benefits:

• Car repairs almost always occur at Porsche-approved centers, and mechanics use original manufacturer parts.
• Porsche insurance allows you to insure custom parts and accessories and pays for your car’s total value.

Unfortunately, Porsche car insurance is only available in five states. So if you’re interested in Porsche car insurance, your easiest option to find coverage is to speak with a Porsche representative.

What factors affect car insurance prices for Porsche?

Companies look at several factors when crafting your insurance rates, which is why comparing your options is important. Although they consider the same factors, companies use unique formulas — most drivers find some companies are cheaper for their needs than others.

When you need car insurance for a Porsche, be it brand-new or vintage, the following elements go into your rates:

• Location. Some ZIP codes see more claims than others, and companies carefully track that data. Car insurance companies check your address, so you could see a different insurance price by moving even one ZIP code over.
• Age and gender. Another demographic insurance companies track is age and gender. Men and young drivers are more likely to get into a car accident, drive recklessly, and file claims, meaning car insurance is higher for males and inexperienced drivers. Drivers who keep their records clean will see their rates lower by about 25.
• Credit score. Insurance companies use your credit score for two reasons: drivers with higher scores are more likely to pay their bills on time, and people with lower scores are more likely to file claims.
• Driving history. Serious infractions on your driving record, like DUIs or speeding tickets, significantly increase your insurance rates. If you have too many incidents, you might need high-risk auto insurance. Find the cheapest auto insurance companies for high-risk drivers.
• Model of your vehicle. The more expensive the model, the more your insurance will cost. Another factor is the model’s acceleration speed — faster cars tend to have higher rates.
• Marital status. Regarding claims statistics, married people file fewer claims than their single counterparts. Most insurance companies offer a small discount to married couples on the same policy.

Another important consideration for your insurance rates is how much coverage you want. Most states require a minimum amount of insurance before you can drive or register your car, your least expensive option for coverage.

When you buy a new Porsche, you’ll likely need full coverage if you have a loan or lease. Full coverage costs more than minimum insurance but offers much better protection.

How can you save money on insurance for Porsches?

As a luxury brand, Porsche insurance costs more than coverage for standard vehicles. However, there are ways to save on your coverage. When looking to save on Porsche car insurance, try the following methods:

• Look for discounts. Insurance companies give auto insurance discounts to help customers save money, and you should look at how many a company offers before signing up. Common discounts include good driver, good student discount, and policy bundling.
• Find a safe parking spot. Since your car is less likely to get hit by another driver or damaged by an unexpected event if stored in a secure spot, most insurance companies offer lower rates when you keep your vehicle in a garage.
• Add security. Most insurance companies offer discounts for cars with additional safety features installed, like GPS tracking or audible alarms.
• Telematics programs. Usage-based car insurance programs offer lower rates for drivers who practice safe habits. Some companies offer up to 40% off your insurance if you meet certain criteria.
• Keep your record clean. One of the best ways to keep your rates low is to keep your driving record clean. If you get an infraction on your driving record, avoid additional violations. If you don’t add more, your rates will return to normal after about three years.

Though they look at the same factors, insurance companies use unique formulas to craft your rates. So, you’ll find that some companies offer lower rates for your circumstances, while others might be much higher. Comparing rates with as many companies as possible is the only way to ensure you find the best price.

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Find the Best Porsche Car Insurance Today

Porsche is famous for its high-performance and beautiful designs. Unfortunately, you’ll pay more for car insurance when you buy a Porsche, especially if you buy a more expensive model. However, insurance companies offer all drivers ways to save, including Porsche owners.

Porsche owners should research their options regardless of the model they buy before signing up for a policy. Comparing quotes from multiple companies will help you find the most affordable coverage.

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