Cheap Rate Quotes for Porsche Cayman Insurance in Plano

Insurance for Porsche CaymanWould you like an easy way to compare low-cost Porsche Cayman insurance in Plano? Are you sick and tired of wondering where the money will come from to pay high insurance rates every month? Your situation is no different than many other people in Texas.

Unthinkable but true, the vast majority of Texas insurance customers have purchased from the same company for over three years, and about 40% of consumers have never even compared rates from other companies. Many drivers in America can cut their rates by $860 a year by just comparing rate quotes, but most undervalue the rate savings if they switched.

Steps to finding cheaper quotes for Porsche Cayman insurance in Plano

The most effective way to find low-cost Porsche Cayman insurance in Plano is to make a habit of comparing prices annually from insurance carriers in Texas. This can be done by following these steps.

First, it will benefit you to learn about policy coverages and the measures you can control to keep rates low. Many factors that are responsible for high rates such as traffic violations, accidents, and your credit history can be eliminated by improving your driving habits or financial responsibility. Keep reading for ideas to find cheap rates and get discounts that may be overlooked.

Second, compare price quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from a single company like GEICO and State Farm, while independent agencies can provide prices for a wide range of insurance providers.

Third, compare the new rates to your existing coverage and see if you can save money. If you find a better price and switch companies, make sure there is no lapse between the expiration of your current policy and the new one.

Fourth, notify your company or agent to cancel your current auto insurance policy and submit payment and a signed application for your new policy. Once received, place the new proof of insurance certificate above your visor, in the console, or in the glove compartment.

A tip to remember is to use similar coverage information on every quote request and and to analyze as many companies as you can. Doing this provides a level playing field and a thorough price selection.

With so many choices of insurance companies that have lower-cost insurance for a Porsche Cayman in Plano, it can be difficult for drivers to locate a more affordable insurance provider.

This article’s intent is to help educate you on how to effectively get price quotes and some tips to save money. If you have coverage now, you will be able to cut your premiums using this strategy. Shoppers only need to know the least time-consuming way to shop their coverage around online.

The companies shown below can provide price quotes in Texas. If you want to find the cheapest car insurance in Plano, it’s highly recommended you visit as many as you can in order to find the lowest rates.

Rates and other information

The data table displayed next showcases different insurance prices for Porsche Cayman models. Knowing how insurance prices are determined can aid in making decisions when shopping your coverage around.

Porsche Cayman Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayman 2-Dr Coupe $302 $564 $392 $24 $118 $1,400 $117
Cayman S 2-Dr Coupe $302 $630 $392 $24 $118 $1,466 $122
Get Your Own Custom Quote Go

Prices based on married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Prices do not factor in your specific Plano location which can change auto insurance rates greatly.

Higher deductibles lower rates

One of the hardest decisions when shopping for auto insurance is how high should the deductibles for physical damage be. The rates shown below illustrate the rate difference between high and low comp and collision deductibles. The first set of prices uses a $100 deductible for comprehensive and collision coverage and the second price grid uses a $500 deductible.

Porsche Cayman insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayman 2-Dr Coupe $454 $908 $382 $22 $114 $1,905 $159
Cayman S 2-Dr Coupe $454 $1014 $382 $22 $114 $2,011 $168
Get Your Own Custom Quote Go

Porsche Cayman insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayman 2-Dr Coupe $332 $614 $382 $22 $114 $1,464 $122
Cayman S 2-Dr Coupe $332 $686 $382 $22 $114 $1,536 $128
Get Your Own Custom Quote Go

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Premium costs do not factor in specific garaging location which can lower or raise insurance rates considerably.

Using the data above, we can ascertain that using a $100 deductible could cost the average driver approximately $39 more each month or $468 every year than buying the higher $500 deductible. Because you would pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you normally go at least 10 months between claims, you would probably come out ahead if you choose the higher deductible.

How to determine if a higher deductible is a good idea

Average monthly premium for $100 deductibles: $164
Average monthly premium for $500 deductibles (subtract): – $125
Monthly savings from raising deductible: $39
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $39
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 10 months

An important thing to remember is that raising deductibles means you pay more out-of-pocket when you do file a claim. You will want to have enough disposable income in the event you need to pay the higher deductible in order to repair your vehicle.

Rate comparison of full coverage and liability-only

The diagram below visualizes the comparison of Porsche Cayman car insurance costs with full physical damage coverage and with liability coverage only. The premium estimates are based on no accidents or driving violations, $500 deductibles, drivers are single, and no additional discounts are factored in.

When to switch to liability coverage only

There is no written rule to stop paying for full coverage on your policy, but there is a general guideline you can use. If the annual cost of having full coverage is about 10% or more of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.

For example, let’s say your Porsche Cayman claim settlement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would receive is $7,000 after paying your deductible. If you are paying in excess of $700 a year to have full coverage, then you may need to consider dropping full coverage.

There are some cases where buying only liability insurance is not advised. If you haven’t paid off your loan, you have to keep full coverage to protect the lienholder’s interest. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should keep full coverage on your policy.

Why you need to buy insurance

Even though it can be expensive, insurance is required by state law in Texas and it also provides benefits you may not be aware of.

The benefits of buying insurance are without a doubt worth the cost, especially for larger claims. The average driver in Texas is wasting up to $865 each year so you should quote and compare rates once a year at a minimum to ensure rates are inline.

Smart Consumers Save on Insurance

Many things are part of the equation when pricing auto insurance. Some of the criteria are obvious such as your driving record, but other criteria are not as apparent like your continuous coverage and annual miles driven.

How to find a good Plano car insurance company

Selecting the best car insurance company is difficult considering how many companies there are to choose from in Plano. The company rank data shown below may help you choose which auto insurance companies to look at purchasing coverage from.

Top 10 Plano Car Insurance Companies Ranked by Customer Satisfaction

  1. USAA – 91%
  2. AAA Insurance – 90%
  3. Esurance – 90%
  4. Mercury Insurance – 89%
  5. Nationwide – 89%
  6. Travelers – 88%
  7. Progressive – 88%
  8. Safeco Insurance – 88%
  9. State Farm – 88%
  10. Allstate – 88%

Top 10 Plano Car Insurance Companies Ranked by Value

  1. Mercury Insurance
  2. Travelers
  3. American Family
  4. AAA Insurance
  5. Safeco Insurance
  6. Progressive
  7. The Hartford
  8. The General
  9. 21st Century
  10. Esurance

Cheaper car insurance is a realistic goal

You just read quite a bit of information on how to shop for Porsche Cayman insurance online. The key thing to remember is the more providers you compare, the better your comparison will be. You may even find the biggest savings come from a smaller regional carrier. These smaller insurers may only write in your state and offer lower auto insurance rates compared to the large companies like State Farm and Allstate.

As you quote Plano car insurance, it’s not a good idea to reduce needed coverages to save money. There are a lot of situations where an accident victim reduced liability coverage limits and found out when filing a claim they didn’t purchase enough coverage. The ultimate goal is to purchase a proper amount of coverage at the best cost, but do not sacrifice coverage to save money.

Cheap Porsche Cayman insurance in Plano can be purchased from both online companies as well as from independent agents in Plano, so you should compare both to have the best rate selection. Some car insurance companies don’t offer rates over the internet and many times these smaller providers only sell coverage through local independent agencies.

How to save on Porsche Cayman insurance in Plano

The preferred way to get the cheapest Porsche Cayman insurance is to do an annual price comparison from insurance carriers that insure vehicles in Plano. You can compare rates by following these guidelines.

Step 1: Try to learn about individual coverages and the steps you can take to drop your rates. Many policy risk factors that result in higher prices such as traffic tickets, fender benders, and a bad credit rating can be rectified by making minor driving habit or lifestyle changes.

Step 2: Request rate estimates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give prices from a single company like GEICO and State Farm, while independent agencies can provide rate quotes for a wide range of insurance providers.

Step 3: Compare the new quotes to the price on your current policy to see if a cheaper price is available. If you find a better price and decide to switch, ensure coverage does not lapse between policies.

One important bit of advice is that you’ll want to compare the same amount of coverage on each quote and and to look at as many different insurance providers as possible. Doing this guarantees an accurate price comparison and a complete selection of prices.

Helpful resources