The best way to find low-cost prices for Porsche Cayman insurance is to start doing an annual price comparison from providers who sell auto insurance in Jacksonville. You can shop around by following these guidelines.
Step 1: Try to learn a little about how your policy works and the changes you can make to prevent rate increases. Many factors that increase rates like inattentive driving and a not-so-good credit history can be eliminated by making small lifestyle or driving habit changes. This article provides information to prevent expensive rate increases and find hidden discounts.
Step 2: Compare rates from direct, independent, and exclusive agents. Exclusive and direct companies can only give prices from one company like GEICO and State Farm, while independent agents can provide rate quotes from multiple companies.
Step 3: Compare the new rate quotes to your current policy to determine if switching companies saves money. If you find a better price and decide to switch, make sure coverage does not lapse between policies.
The most important part of shopping around is to use the same deductibles and limits on each quote request and and to get prices from as many different insurance providers as possible. This provides the most accurate price comparison and the best price selection.
A recent study showed that a large majority of consumers renewed their policy with the same company for over three years, and approximately 40% of consumers have never compared rates to find affordable insurance. With the average car insurance premium being $2,158, Florida drivers could cut their rates by approximately $1,126 a year by just shopping around, but they feel it’s too difficult to save money by comparing rate quotes.
Companies offering Porsche Cayman insurance in Florida
The companies shown below offer free rate quotes in Florida. If several companies are displayed, we recommend you get rate quotes from several of them to get the lowest price.
Porsche Cayman insurance rates and statistics
The rate table below showcases a range of insurance policy prices for Porsche Cayman models. Having a good grasp of how rates are determined can help guide drivers when making decisions on the best policy to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cayman 2-Dr Coupe | $216 | $446 | $400 | $24 | $120 | $1,206 | $101 |
| Cayman S 2-Dr Coupe | $216 | $498 | $400 | $24 | $120 | $1,258 | $105 |
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Premium data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Information does not factor in specific garaging location which can modify rates considerably.
How high should deductibles be?
One of the more difficult decisions when buying insurance is which deductibles should you choose. The rates shown below may help to conceptualize the price difference between low and high insurance deductibles. The first set of prices uses a $250 physical damage coverage deductible and the second rate table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cayman 2-Dr Coupe | $446 | $834 | $418 | $24 | $124 | $1,871 | $156 |
| Cayman S 2-Dr Coupe | $446 | $930 | $418 | $24 | $124 | $1,967 | $164 |
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| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cayman 2-Dr Coupe | $364 | $672 | $418 | $24 | $124 | $1,602 | $134 |
| Cayman S 2-Dr Coupe | $364 | $750 | $418 | $24 | $124 | $1,680 | $140 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Prices do not factor in specific location information which can lower or raise coverage prices considerably.
Using the premium rates above, we can conclude that using a $250 deductible could cost the average driver approximately $23 more each month or $276 every year averaged for all Cayman models than opting for the higher $500 deductible. Due to the fact that you would have to pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you usually have at least 11 months between claim filings, you would come out ahead if you choose the higher deductible.
Do you need full coverage?
The example below illustrates the comparison of Porsche Cayman auto insurance costs when comparing full coverage to state minimum liability only. The rate quotes are based on a clean driving record, no at-fault accidents, $100 deductibles, single marital status, and no discounts are applied to the premium.
When to drop comp and collision
There isn’t a steadfast formula for dropping physical damage coverage, but there is a broad guideline. If the annual cost of your full coverage insurance is more than around 10% 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 settlement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is totaled, you would only receive $7,000 after you pay the deductible. If you are paying over $700 annually for comprehensive and collision coverage, then it’s probably a good time to buy liability coverage only.
There are some cases where removing full coverage is not a good plan. If you haven’t satisfied your loan, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should not buy liability only.
Insurance policy discounts you can’t miss
Insuring your fleet can be pricey, but you can get discounts that can help lower your rates. Certain discounts will be applied when you get a quote, but some may not be applied and must be inquired about before you get the savings. If you are not receiving all the discounts you qualify for, you are paying more than you should be.
- Discounts for New Vehicles – Insuring a vehicle that is new can save up to 30% because new model year vehicles have to meet stringent safety requirements.
- Full Payment Discount – If you pay your entire premium ahead of time rather than paying monthly you may have a lower total premium amount.
- Renewal Discounts – Some companies give discounts for switching to them before your current coverage expires. It can save you around 10%.
- Multiple Policy Discount – When you combine your home and auto insurance with one insurance company you could earn a discount of up to 20% off your total Cayman insurance premium.
- Distant Student – Youth drivers who live away from home at college and won’t have access to an insured vehicle could get you a discount.
- Life Insurance Discount – Not every insurance company offers life insurance, but if they do you may earn better rates if you take out some life insurance too.
Discounts lower rates, but most of the big mark downs will not be given to the entire cost. Most cut the price of certain insurance coverages like collision or personal injury protection. So despite the fact that it appears it’s possible to get free car insurance, it just doesn’t work that way.
The chart below visualizes the comparison of Porsche Cayman auto insurance rates with and without policy discounts. The premiums are based on a male driver, no driving violations, no at-fault accidents, Florida state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, homeowner, multi-car, claim-free, marriage, and safe-driver discounts applied.
Companies that have most of the discounts above are:
If you need lower rates, check with each company which discounts you qualify for. Discounts might not be offered on policies in Jacksonville.
Which is the best auto insurance?
Keep in mind that when it comes to choosing your policy for your personal vehicles, there is no one size fits all plan. Each situation is unique and your auto insurance should be unique as well. These are some specific questions can aid in determining whether or not you would benefit from professional advice.
- Does my car insurance cover rental cars?
- Should I buy only the required Florida minimum liability coverage?
- What does roadside assistance cover?
- When should I remove my kid from my policy?
- What are the best liability limits?
- If I drive on a suspended license am I covered?
If you can’t answer these questions but you think they might apply to your situation, you may need to chat with an insurance agent. To find an agent in your area, simply complete this short form or go to this page to view a list of companies.
Auto insurance agents are trained to help
Some people just want to have an agent’s advice and often times that is recommended A nice benefit of comparing insurance prices online is that drivers can save money and get better rates and still have an agent to talk to. Buying insurance from local insurance agencies is important particularly in Jacksonville.
After filling out this form (opens in new window), your information is instantly submitted to agents in your area that provide free Jacksonville auto insurance quotes to get your business. It makes it easy because there is no need to do any legwork because quoted prices will be sent immediately to you. You can find the lowest rates without a big time investment. If you want to get a price quote from a specific auto insurance provider, just navigate to their website and fill out their quote form.
Picking the best provider should include more criteria than just a low price. The following questions are important to ask.
- Is there a Errors and Omissions policy in force?
- Do they review policy coverages at every renewal?
- Can they give you a list of client referrals?
- Who are their largest clients?
- Do they receive special compensation for putting your coverage with one company over another?
Cheaper car insurance is out there
As you go through the steps to switch your coverage, it’s a bad idea to buy less coverage just to save a little money. There are a lot of situations where an insured dropped comprehensive coverage or liability limits to discover at claim time that it was a big error on their part. Your strategy should be to purchase plenty of coverage at a price you can afford, but don’t skip important coverages to save money.
Budget-conscious Porsche Cayman insurance can be purchased on the web as well as from independent agents in Jacksonville, and you should compare rates from both so you have a total pricing picture. Some companies do not offer online quoting and usually these smaller companies work with local independent agencies.
Additional resources
- Keeping Children Safe in Crashes Video (iihs.org)
- How Much is Jacksonville Car Insurance for a Jeep Grand Cherokee? (FAQ)
- How Much is Jacksonville Auto Insurance for a 20 Year Old Female? (FAQ)
- How Much is Jacksonville Auto Insurance for a Ford Escape? (FAQ)
- Driving in Bad Weather (Insurance Information Institute)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)