How to Save on Insurance for your Porsche Cayman R
If finding cheaper car insurance was fun, we'd make the time to do it regularly. But more than likely, it's challenging for most people and we always end up paying more than we want. Finding insurance for your Porsche Cayman R that you can actually afford is probably no different.
Step One: Compare Apples-to-Apples Quotes
Up until about ten years ago, the only way to shop for car insurance was in the office of a local insurance agent where you'd get a hard sell into a policy. Welcome to the 21st century!
All the major car insurance companies sell insurance for a Porsche Cayman R and you can compare their rates by entering your information only one time.
To compare rates now, have your current policy handy (if you have one) and click the link below. Complete the short form and move on to step two.
Important! If you already have liability and physical damage coverage on your Cayman R, it's important to keep the same limits and deductibles throughout the quote process. This allows you to fairly compare rates for many companies. If you use different limits and coverages for each quote, you won't be able to judge if the final rate is better or worse than other quotes.
Step Two: How to Cut Costs on Cayman R Insurance
There are many factors that actually determine what you will pay for insurance, and some are completely within your control.
- The performance boost offered by your Porsche Cayman R is going to force you to spend more for insurance. Consider trading for a lower performance vehicle in order to bring down your rates.
- Higher deductibles save money. If you can afford to pay a larger portion of a comprehensive or collision claim, you will pay substantially less for those coverages if you increase your deductibles to $500 or even $1,000.
- Repairing accident damage generally costs more for the Cayman R because the replacement parts cost more. You can expect your car insurance bill to reflect these higher costs for repair.
- How's your credit score? If it's good you will pay a lower rate than your poor credit counterparts. Work on improving weak credit and you will eventually see your car insurance bill go down.
- Sports cars tend to have larger engines and higher top speeds which increases the chance of an accident.
- Teen drivers have a tendancy to learn the hard way when driving, and that means having a few fender-benders. Rating them on a high profile newer vehicle can be very expensive so you might consider buying an older model vehicle for them to drive and only insure it with liability coverage.
- If your city or county offers a driver's safety course, find out if your insurance company will give you a discount to complete it. It could save you up to 10%.
- One of the easiest ways to keep your rates down is to drive safe. One speeding ticket can boost your rates for three years.
- If switching companies, always have the effective date of the new policy be identical to the expiration date on the old policy. This prevents a lapse in coverage and companies charge higher rates if you have any lapses.
- Equipping your Porsche with available safety features such as air bags and passive restraints allows you to take advantage of additional discounts.
- If you rent rather than own a home, you may be paying more for car insurance. Homeowners often get lower rates.
- Smaller claims that hardly exceed your deductible are better off not being filed with your insurance company. Policyholders with no claims enjoy lower rates than those who frequently file claims.
- Insurance companies often give discounts to senior citizens and professional organizations, so if you're one of those, check to see if you qualify.
- Vehicles that tend to get stolen or have high repair costs will cost you more to insure. If your Cayman R falls into either category, it could cost you.
Step Three: Bind Coverage and Cancel your Old Policy
You've compared rates and hopefully looked over the coverages for each vehicle on your policy to make sure they're adequate. Now you can make the big decision on which company will best fulfill your needs.
If you didn't have a prior policy, then you can make the new policy effective any time. But if you're moving bewteen companies and don't want a lapse in coverage, make sure the effective date of the new policy is exactly the same as the cancellation date of the old policy.
If you don't currently have a car insurance policy, make sure you have coverage in force before driving your Porsche off the lot. But if you already have a policy, you will have coverage extended to your new car from your existing policy. When driving off the lot, you may have coverage that extends from your current policy. But it will only be equal to the most coverage you have on any vehicle. So if you only carry liability coverage, you won't be covered for full coverage until you specify it on your policy.
After completing your policy purchase, you can print out the proof-of-insurance card to place in your car. Always keep the current card available in case requested by law enforcement or if you are in an accident. High risk drivers may be required to submit an SR-22 with their state DMV's. If you have been convicted of reckless driving, DUI or had an uninsured accident, you may qualify. Make sure your new policy reflects the need for the SR-22 filing.
More Resources for Insurance Buying
For more information on car insurance, please visit the Insurance Information Institute's auto insurance informational page.
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