Finding better insurance prices for a Porsche Cayenne in Colorado can normally be difficult, but you can learn the following methods to find lower rates.
There are both good and bad ways to find car insurance online and we’ll show you the absolute fastest way to get price quotes on a Porsche and obtain the lowest possible price either online or from Aurora insurance agents.
Locating the lowest cost coverage in Aurora is not as time-consuming as you think. If you are already insured or are looking for a new policy, you can follow these tips to shop for the lowest rates without reducing protection. Smart buyers just need to use the best way to find the lowest price instantly.
Lower Your Aurora Insurance Prices
The best way to find cheaper car insurance is to take a look at some of the elements that play a part in calculating the level of your policy premiums. When you understand what determines premiums, this empowers consumers to make smart changes that will entitle you to much lower annual insurance costs.
Listed below are some of the major factors that factor into premiums.
Vehicle risk influences premiums – The make and model of the vehicle you are insuring makes a significant difference in the rate you pay. Economy passenger vehicles generally receive the lowest base rates, but there are many factors that impact the final cost.
The chart below is based on a married male driver age 40, full coverage with $500 deductibles, and no discounts or violations. It illustrates Porsche Cayenne insurance rates compared to other models of vehicles that have different risk factors.
File insurance claims and pay more – If you tend to file frequent claims, don’t be surprised to see either higher rates or even cancellation. Auto insurance companies in Colorado provide most affordable rates to insureds who file claims infrequently. Your car insurance is meant to be used in the event of more catastrophic claims.
Cheaper car insurance rates for prior coverage – Not having insurance can get your license suspended and as a result your rates will increase for letting your coverage lapse. And not only will your rates increase, failure to provide proof of insurance will get you a license revocation or jail time.
Only buy coverage you need – Insurance policies have a lot of optional add-on coverages that sound like a good idea at the time on your Cayenne policy. Add-on coverages like personal injury protection, towing coverage, and membership fees may be wasting your money. They may sound like good ideas at first, but your needs may have changed so think about removing them and cutting costs.
Rural vs Urban Areas – Being located in small towns and rural areas can save you money when it comes to car insurance. Fewer drivers translates into fewer accidents and lower theft and vandalism rates. People who live in big cities regularly have more auto accidents and more time behind the wheel. More time behind the wheel means more chance of being in an accident.
Vehicle options that cut prices – Purchasing a vehicle with a theft deterrent system can help lower your premiums. Theft deterrent systems like OnStar, LoJack tracking, and tamper alarms help track and prevent auto theft and help lower rates.
Younger drivers pay high premiums – Older drivers are more cautious drivers, statistically cause fewer accidents, and get fewer tickets. Teenage drivers tend to be inattentive and easily distracted when at the wheel of a vehicle so car insurance rates are higher.
The next chart uses these assumptions: single driver, full coverage with $100 deductibles, and no discounts or violations.
Get better rates after the wedding – Your spouse actually saves money on your policy. It demonstrates that you tend to be more mature and it’s proven that married drivers get in fewer accidents.
Porsche Cayenne claim probability – Insurance companies use historical loss data in order to profitably underwrite each model. Vehicles that are shown to have increased claim numbers or amounts will have a higher premium rate. The table below outlines the historical loss data for Porsche Cayenne vehicles.
For each insurance policy coverage type, the claim amount for all vehicles averaged together is a value of 100. Percentage numbers below 100 indicate better than average losses, while percentage numbers above 100 indicate a higher chance of having a claim or tendency to have higher losses.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Porsche Cayenne 4dr 4WD||176||100||138||58||53||77|
|Porsche Cayenne Hybrid 4dr 4WD||119|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Insurance coverage analysis
The coverage information shown next outlines a range of coverage prices for Porsche Cayenne models. Having a good grasp of how insurance prices are determined is important for you to make smart choices when purchasing an insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cayenne S Transyberia||$508||$1150||$474||$28||$142||$2,302||$192|
|Cayenne GTS PD Edition 3||$552||$1270||$474||$28||$142||$2,466||$206|
|Cayenne Turbo S||$682||$1510||$474||$28||$142||$2,836||$236|
|Get Your Own Custom Quote Go|
Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Price information does not factor in specific location which can raise or lower coverage prices significantly.
The illustration below shows how different deductible levels and can affect Porsche Cayenne insurance premiums for different age categories. The premium estimates are based on a married female driver, comp and collision included, and no discounts are applied.
Does it make sense to buy full coverage?
The illustration below shows the comparison of Porsche Cayenne car insurance costs with full coverage compared to only the Colorado minimum liability coverage. The rates are based on no accidents or driving violations, $250 deductibles, drivers are not married, and no discounts are applied.
When to drop full coverage
There is no exact rule that is best for determining when to drop physical damage coverage on your policy, but there is a general school of thought. If the annual cost of having full coverage is more than about 10% of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your Porsche Cayenne book value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, you would only receive $2,000 after paying your deductible. If it’s costing in excess of $200 annually for full coverage, then it’s probably a good time to buy liability coverage only.
There are a few situations where dropping physical damage coverage is not a good idea. If you still owe a portion of the original loan, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should not consider dropping full coverage.
Do you qualify for discounts on Porsche Cayenne insurance in Aurora?
Auto insurance companies don’t always publicize all discounts in an easy-to-find place, so we researched some of the best known as well as the least known discounts that you can inquire about if you buy Aurora auto insurance online.
- Save with a New Car – Buying a new car instead of a used Cayenne can save up to 30% since new model year vehicles are generally safer.
- Discounts for Government Workers – Federal government employees may qualify for a discount when you quote Aurora auto insurance with certain companies.
- Auto/Life Discount – Not all insurance companies offer life insurance, but some may give you a small discount if you purchase a life policy as well.
- Senior Citizen Discount – Older drivers are able to get a slight reduction on a Aurora auto insurance quote.
- No Accidents – Drivers with accident-free driving histories have much lower rates as opposed to drivers with a long claim history.
- Waiver for an Accident – Not necessarily a discount, but companies like State Farm, Progressive and GEICO may permit one accident before your rates go up so long as you haven’t had any claims for a specific time period.
- Payment Method – By making one initial payment instead of making monthly payments you can actually save on your bill.
- Auto/Home Discount – When you have multiple policies with one company you may save as much as 10 to 15 percent.
Policy discounts save money, but many deductions do not apply to the entire cost. Most only apply to the price of certain insurance coverages like liability, collision or medical payments. Despite the appearance that it’s possible to get free car insurance, insurance companies wouldn’t stay in business.
The diagram below illustrates the comparison of Porsche Cayenne annual premium costs with and without discounts applied to the policy rates. The premium estimates are based on a female driver, no tickets, no at-fault accidents, Colorado state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, multi-car, claim-free, homeowner, and multi-policy discounts applied.
Some of the insurance companies that may offer some of the discounts shown above include:
Before you buy a policy, ask each company or agent which discounts they offer. All car insurance discounts may not apply to policyholders in every state. For a list of companies that provide some of the discounts listed above in Aurora, click here.
Don’t give up on cheap rates
Throughout this article, we presented many ways to get a better price on Porsche Cayenne insurance in Aurora. It’s most important to understand that the more price quotes you have, the better your chances of lowering your car insurance rates. Consumers could even find that the lowest rates come from the least-expected company. These smaller insurers may have significantly lower car insurance rates on certain market segments than their larger competitors like State Farm and Allstate.
When shopping online for insurance, never buy less coverage just to save a little money. Too many times, consumers will sacrifice liability limits or collision coverage and learned later that they should have had better coverage. Your goal is to find the BEST coverage for the lowest price.
Steps to finding cheaper Porsche Cayenne insurance in Aurora
The best way to get discount Porsche Cayenne insurance in Aurora is to regularly compare prices from insurance carriers in Colorado.
Step 1: Try to understand how companies price auto insurance and the factors you can control to prevent expensive coverage. Many things that increase rates such as distracted driving and a poor credit score can be controlled by making minor driving habit or lifestyle changes.
Step 2: Request price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from one company like Progressive and State Farm, while independent agents can quote prices from many different companies.
Step 3: Compare the new rate quotes to the premium of your current policy to see if a cheaper rate is available in Aurora. If you can save some money, ensure coverage does not lapse between policies.
Step 4: Tell your current company of your decision to cancel the current policy. Submit a completed policy application and payment to your new insurance company. As soon as coverage is bound, place your new certificate verifying proof of insurance above your visor, in the console, or in the glove compartment.
The key thing to know about shopping around is to try to compare the same physical damage deductibles and liability limits on every quote and and to get price quotes from as many different companies as possible. This enables a fair rate comparison and the best price quote selection.
Even more information can be read by following these links:
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- Who Has Cheap Aurora Auto Insurance Rates for Welfare Recipients? (FAQ)
- Who Has Cheap Car Insurance Quotes for Young Drivers in Aurora? (FAQ)
- What Insurance is Cheapest for a Chevrolet Traverse in Aurora? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Infrequent Drivers in Aurora? (FAQ)
- How Much are Auto Insurance Quotes for 17 Year Olds in Aurora? (FAQ)
- Steps to Take After an Auto Accident (Insurance Information Institute)
- What is Full Coverage? (Allstate)
- Rental Car Insurance Tips (Insurance Information Institute)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)