Did you fall for a flashy sales pitch and buy an overpriced auto insurance policy? Believe me, there are many people just like you.
With so many choices of insurance companies, it can be challenging to choose the most affordable insurer.
Choosing the best insurance company for you is not rocket science. If you are paying for car insurance now, you will be able to reduce your rates substantially using this strategy. But consumers must know how companies market on the web and apply this information to your search.
These discounts can lower your rates
Car insurance companies do not list every discount in an easy-to-find place, so here is a list some of the more common and also the lesser-known discounts you could be receiving.
- Student Driver Training – Have your child take driver’s ed class in high school.
- Passive Restraints and Air Bags – Vehicles equipped with air bags can get savings of 20% or more.
- Accident Waiver – A few companies will forgive one accident without raising rates so long as you haven’t had any claims prior to the accident.
- Life Insurance Discount – Some companies give a break if you buy a life insurance policy as well.
- Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems can help prevent theft and earn discounts up to 10%.
- Braking Control Discount – Vehicles with anti-lock braking systems are safer to drive and will save you 10% or more.
- More Vehicles More Savings – Insuring multiple cars or trucks on one policy qualifies for this discount.
- Distant Student – Youth drivers who live away from home without a vehicle on campus may be able to be covered for less.
- Paperwork-free – Some insurance companies will give a small break just for signing your application online.
- Homeowners Discount – Simply owning a home may earn you a small savings because of the fact that having a home is proof that your finances are in order.
A little note about advertised discounts, some credits don’t apply to your bottom line cost. Some only reduce the price of certain insurance coverages like collision or personal injury protection. So when the math indicates you could get a free auto insurance policy, auto insurance companies aren’t that generous.
For a list of providers offering auto insurance discounts, click here.
Compare Quotes for Auto Insurance
Most companies like GEICO, State Farm and Progressive quote price estimates directly from their websites. This process is pretty easy as you just enter the coverage amounts you desire into a form. When the form is submitted, their system will obtain reports for credit and driving violations and generates a price. This helps simplify price comparisons, but having to visit different websites and enter the same data into a form is monotonous and tiresome. But it’s very important to compare as many rates as possible in order to find a better rate.
The smarter way to locate the lowest prices makes use of a single form to return rates from a bunch of companies at once. It’s a real time-saver, requires less work, and makes quoting online a lot less work. Immediately after you send the form, your coverage is rated and you can select any of the pricing results. If a lower price is quoted, it’s easy to complete the application and buy the new coverage. It takes 15 minutes at the most and may save quite a bit of money.
To compare rates using this form now, simply click here to open in new window and enter your information. If you have a policy now, it’s recommended you input the coverage information as shown on your current policy. This ensures you will have a rate comparison using the same coverage and limits.
Elements that influence Porsche Cayenne rates
An important part of buying insurance is that you know the rating factors that go into determining the rates you pay for auto insurance. When you know what positively or negatively influences your rates allows you to make educated decisions that could result in much lower annual insurance costs.
Listed below are some of the items companies use to determine premiums.
- Traffic violations increase rates – Good drivers tend to pay less for car insurance than bad drivers. Even a single ticket can increase rates twenty percent or more. Drivers who get serious violations like DWI, reckless driving or hit and run convictions may be required to file a SR-22 to the state department of motor vehicles in order to continue driving.
- Better credit means lower rates – Your credit history is a huge factor in determining your rates. Therefore, if your credit history is not that good, you could potentially save money when insuring your Porsche Cayenne by spending a little time repairing your credit. Drivers who have high credit ratings tend to be better drivers and file fewer claims than those with lower credit scores.
- More than one policy can earn a discount – Most insurers give discounts to customers who carry more than one policy, otherwise known as a multi-policy discount. Even though this discount sounds good, you still need to comparison shop to confirm you are receiving the best rates possible.
- Special features that cut premiums – Choosing a vehicle with an alarm system can help bring down rates. Anti-theft devices like GM’s OnStar, tamper alarm systems and vehicle immobilizers can thwart car theft.
- Do you know your deductibles? – Your deductibles define the amount you are willing to pay in the event of a claim. Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, insures against damage to your car. Examples of covered claims are running into the backend of another car, collision with an animal, and rolling your vehicle. The more money you’re willing to pay, the bigger discount you will receive on Cayenne insurance.
- Do men or women drive better? – Statistics show women are more cautious behind the wheel. That doesn’t necessarily mean that women are better drivers. They both have accidents at about the same rate, but men cause more damage. Men also receive more costly citations such as reckless driving. Male drivers age 16 to 19 are the most expensive to insure and therefore are the most expensive to insure.
- Proper usage rating affects rates – The more you drive every year the more you will pay for auto insurance. Most companies charge to insure your cars based upon how you use the vehicle. Autos that are left in the garage can get a lower rate compared to those used for work or business. If your policy improperly rates your Cayenne can cost quite a bit. Verify your auto insurance policy properly reflects the correct driver usage, because it can save money.
Save 15 percent in 15 minutes? Is it for real?
GEICO, State Farm and Progressive constantly bombard you with television and radio advertisements. All the companies make the same claim that you’ll save big if you switch your coverage to them. How do they all say the same thing?
All companies can use profiling for the right customer that earns them a profit. For instance, a preferred risk might be between 25 and 40, owns a home, and has a high credit rating. A driver who fits that profile will qualify for the lowest rates and is almost guaranteed to cut their rates substantially.
Drivers who fall outside this ideal profile must pay a higher premium which leads to the customer not buying. The ads say “customers that switch” not “people who quote” save money. That’s the way insurance companies can make those claims. This illustrates why you should compare many company’s rates. It’s impossible to know which company will give you the biggest savings.
In the end, you save
In this article, we covered many ways to get a better price on Porsche Cayenne insurance. The most important thing to understand is the more providers you compare, the higher your chance of finding lower rates. Consumers may even find the lowest rates come from some of the smallest insurance companies. They may often insure only within specific states and give getter rates as compared to the big name companies such as State Farm, GEICO and Nationwide.
While you’re price shopping online, it’s very important that you do not sacrifice coverage to reduce premiums. In too many instances, someone dropped uninsured motorist or liability limits and learned later that saving that couple of dollars actually costed them tens of thousands. The aim is to get the best coverage possible for the lowest price while not skimping on critical coverages.
Discount Porsche Cayenne insurance can be purchased from both online companies in addition to many insurance agents, so you should compare both to have the best rate selection. A few companies do not provide online quoting and many times these smaller companies only sell through independent insurance agents.
