Best Auto Insurance for Porsche (2023)

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

However, the best auto insurance for luxury 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 is, which companies have the best auto insurance for a Porsche, and how to find cheap auto insurance for your Porsche. Then, compare Porsche auto insurance quotes from the best auto insurance companies to get the lowest rates.

Cost of Auto 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 Porsche 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 auto 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 cost for a Porsche Cayenne to Porsche Panamera car insurance, you can save money on your luxury coverage and get the best Porsche insurance by comparing quotes, finding discounts, and keeping your driving record clean.

Porsche Auto 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 auto insurance probably offers the cheapest car insurance for a Porsche.

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 Auto Insurance Costs by Model

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

• Porsche Macan: $189 per month
• Porsche Cayenne: $232 per month
• Porsche 718 Cayman: $239 per month
• Porsche 718 Boxster: $241 per month
• Porsche 718 Spyder: $289 per month
• Porsche Taycan Turbo: $300 per month
• Porsche Panamera: $303 per month
• Porsche 911 Carrera: $232 per month
• Porsche 911 Turbo S: $372 per month

As seen above, the Porsche model you choose to buy significantly impacts your rates. For example, Porsche Cayenne insurance costs about $232 monthly, much cheaper than most other models. On the other hand, Porsche Panamera insurance costs much more and is one of the most expensive models. So, always compare auto insurance rates by vehicle make and model to get the cheapest Porsche premiums.

There are several reasons why some models are more expensive than others. For example, the Porsche Macan insurance cost is 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. Read more about the best auto insurance companies for sports cars.

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Porsche Sells Auto Insurance

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

Porsche insurance rates won’t be your best or 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 auto insurance company representative.

Factors That Affect Auto Insurance Prices for Porsche

Companies look at several factors when crafting Porsche auto insurance rates, so 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. Auto insurance companies check where you live, so you can see a different insurance price for your Porsche 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. Porsche drivers who keep their records clean will see their car insurance rates lower by about 25.
• Credit score: Auto insurance companies use your credit score for two reasons: drivers with higher scores are more likely to pay their bills on time, and drivers with lower scores are more likely to file Porsche car insurance claims.
• Driving history: Serious infractions on your driving record, like DUIs or speeding tickets, significantly increase your Porsche car insurance rates. If you have too many incidents, you might need high-risk auto insurance. Find high-risk auto insurance here.
• Vehicle model: 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. Learn how to get a married couple auto insurance discount.

Another important consideration for your Porsche insurance rates is how much coverage you want. You must meet your state’s minimum auto insurance requirements before driving or registering a car, your least expensive option for Porsche car insurance coverage.

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

Ways To Save Money on the Best Auto 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 offer discounts to help customers save money, and you should look at how many a company offers before signing up. Common Porsche car insurance discounts include good drivers, good student discounts, and policy bundling.
• Find a safe parking spot. Since your Porsche 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. Learn how to get a garaging & storing auto insurance discount.
• Add security. Most insurance companies offer discounts for cars with additional safety features installed, like GPS tracking or audible alarms.
• Telematics programs. Usage-based auto insurance programs offer lower rates for drivers who practice safe habits. Some companies offer up to 40% off your Porsche auto insurance policy if you meet certain criteria.
• Keep your record clean. One of the best ways to keep car insurance rates for your Porsche 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.
• Increase your deductible. If you’re looking to save even more, consider increasing your auto insurance deductible if you can afford to pay it out of pocket. The higher your deductible, the lower your Porsche auto insurance prices.

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 Porsche insurance.

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Find the Best Porsche Auto Insurance Rates 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, insurers offer all drivers ways to save, so you should always check for available auto insurance discounts to get cheap Porsche car insurance rates.

Porsche owners should research their options regardless of the model they buy before signing up for a policy. Compare Porsche auto insurance quotes from multiple companies today to find the most affordable coverage.

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