Porsche Cayenne Insurance Rates in Greensboro

Insurance quote for Porsche Cayenne in GreensboroThe easiest way to save money on Porsche Cayenne insurance in Greensboro is to regularly compare quotes from companies in North Carolina.

  1. Learn about auto insurance and the measures you can take to prevent expensive coverage. Many things that drive up the price like speeding tickets, accidents and a poor credit score can be remedied by making minor driving habit or lifestyle changes.
  2. Request price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like Progressive or Allstate, while independent agents can give you price quotes from multiple companies. View insurance agents
  3. Compare the quotes to your current policy premium to see if a cheaper price is available. If you find a lower rate quote and decide to switch, verify that coverage does not lapse between policies.
  4. Notify your agent or company of your intention to cancel your current policy and submit a down payment and signed policy application to your new agent or company. Immediately keep your new certificate of insurance with your vehicle’s registration.

The most important part of this process is to compare identical coverage information on every quote and and to get price quotes from as many car insurance companies as possible. This helps ensure an apples-to-apples comparison and plenty of rates choose from.

It’s an obvious statement that insurance companies don’t want their policyholders to compare prices. Insureds who get comparison quotes once a year will, in all likelihood, buy a new policy because there are good odds of finding a lower-cost company. A recent survey found that people who made a habit of comparing rate quotes saved an average of $70 a month compared to drivers who don’t regularly compare prices.

If finding budget-friendly car insurance is your objective, learning the best way to shop and compare insurance coverage can help you succeed in saving money.

Comparing quotes for more affordable car insurance policy in Greensboro is simple if you know the tricks. If you have a current car insurance policy or just want a better rate, take advantage of these tips to cut your premiums and possibly find even better coverage. Smart buyers just need to know the proper methods to shop from multiple carriers.

Coverage analysis

The table displayed below showcases detailed analysis of prices for Porsche Cayenne models. Having insight into how prices are calculated can help you make decisions on which coverage to buy.

Porsche Cayenne Insurance Rates in Greensboro, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayenne $288 $514 $254 $16 $76 $1,148 $96
Cayenne S $314 $582 $254 $16 $76 $1,242 $104
Cayenne GTS $314 $650 $254 $16 $76 $1,310 $109
Cayenne S Transyberia $314 $650 $254 $16 $76 $1,310 $109
Cayenne GTS PD Edition 3 $342 $718 $254 $16 $76 $1,406 $117
Cayenne Turbo $368 $718 $254 $16 $76 $1,432 $119
Cayenne Turbo S $422 $852 $254 $16 $76 $1,620 $135
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Prices based on married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Price information does not factor in specific location which can lower or raise premium rates greatly.

Choosing deductibles

One common question asked by Greensboro drivers is how high or low should comp and collision deductibles be. The data tables below may help to conceptualize the rate difference between high and low comp and collision deductibles. The first price estimate table uses a $100 comprehensive and collision deductible and the second price table uses a $1,000 deductible.

Porsche Cayenne insurance premium estimates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayenne $298 $524 $250 $14 $74 $1,185 $99
Cayenne S $324 $594 $250 $14 $74 $1,281 $107
Cayenne GTS $324 $662 $250 $14 $74 $1,349 $112
Cayenne S Transyberia $324 $662 $250 $14 $74 $1,349 $112
Cayenne GTS PD Edition 3 $352 $732 $250 $14 $74 $1,447 $121
Cayenne Turbo $380 $732 $250 $14 $74 $1,475 $123
Cayenne Turbo S $434 $870 $250 $14 $74 $1,667 $139
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Porsche Cayenne insurance premium estimates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayenne $164 $276 $250 $14 $74 $778 $65
Cayenne S $180 $314 $250 $14 $74 $832 $69
Cayenne GTS $180 $350 $250 $14 $74 $868 $72
Cayenne S Transyberia $180 $350 $250 $14 $74 $868 $72
Cayenne GTS PD Edition 3 $196 $386 $250 $14 $74 $920 $77
Cayenne Turbo $210 $386 $250 $14 $74 $934 $78
Cayenne Turbo S $242 $458 $250 $14 $74 $1,038 $87
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Price estimates do not factor in zip code location which can modify auto insurance rates substantially.

We can derive from the above data that using a $100 deductible costs roughly $42 more each month or $504 a year averaged for all Cayenne models than choosing the higher $1,000 deductible. Since you would have to pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you normally average more than 21 months between claims, you would save more money if you opt for a higher deductible.

How to determine if raising deductibles makes sense

Average monthly premium for $100 deductibles: $116
Average monthly premium for $1,000 deductibles (subtract): – $74
Monthly savings from raising deductible: $42
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $42
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 21 months

The example below shows how choosing a deductible and can raise or lower Porsche Cayenne insurance costs for different categories of driver ages. The rate quotes are based on a single male driver, comprehensive and collision coverage, and no discounts are taken into consideration.

Does full coverage make sense?

The illustration below shows the comparison of Porsche Cayenne car insurance costs with and without full coverage. The rate quotes are based on no violations or accidents, $1,000 deductibles, single marital status, and no discounts are applied.

When to drop comp and collision

There is no set rule that is best for determining when to drop physical damage coverage on your policy, but there is a broad guideline. If the annual cost of your full coverage insurance is more than 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.

For example, let’s pretend your Porsche Cayenne replacement cost is $6,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $5,000 after the deductible is paid. If it’s costing in excess of $500 a year for your policy with full coverage, then you might want to consider buying only liability coverage.

There are some situations where eliminating full coverage is not a good plan. If you have an outstanding loan on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not eliminate full coverage.

Save Money with These Tips

Lots of factors are used in the calculation when pricing auto insurance. Most are fairly basic such as your driving record, but other criteria are more obscure like your continuous coverage or your vehicle rating.

Shown below are a few of the “ingredients” used by insurance companies to determine prices.

Buy as much liability insurance as you can afford – A critical coverage on your policy, liability insurance is the coverage that protects you when a court rules you are at fault for physical damage or personal injury to other. Liability provides legal defense coverage which can be incredibly expensive. Carrying liability coverage is mandatory and cheap when compared to the cost of physical damage coverage, so drivers should make sure they buy enough to cover all assets.

Your address can influence costs – Being located in a small town can be a good thing when shopping for auto insurance. City drivers have more aggressive driving styles and more time behind the wheel. Less people corresponds to lower accident rates.

Are women or men drivers cheaper? – Over the last 50 years, statistics have shown that women are safer drivers than men. However, don’t assume that women are better drivers. Both genders have fender benders at a similar rate, but males get into accidents with more damage. They also get higher numbers of serious violations such as driving while intoxicated (DWI) or driving recklessly. Youthful male drivers tend to get in the most accidents and therefore have the most expensive insurance rates.

The information below shows the difference between Porsche Cayenne auto insurance rates for male and female drivers. The price estimates are based on no claims or driving violations, comprehensive and collision coverage, $1,000 deductibles, drivers are not married, and no discounts are taken into consideration.

Car features that cut prices – Choosing a vehicle that has a built-in theft deterrent system can help lower your premiums. Theft prevention devices such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all help stop car theft.

Always keep your insurance in place – Having a lapse in insurance coverage is a fast way to increase your rates. Not only will you pay more, not being able to provide proof of insurance can result in fines and jail time.

Compare rates if you consolidate your policies – Lots of insurance companies allow better rates for people who have multiple policies with them in the form of a multi-policy discount. If you currently are using one company, it’s always a smart idea to compare other company rates to make sure you are getting the best deal.

Poor credit can mean higher premiums – Your credit score factor in calculating your insurance rates. People that have high credit scores tend to be more responsible and file fewer claims than those with poor credit scores. So if your credit history is not that good, you could be paying less to insure your Porsche Cayenne by spending a little time repairing your credit.

Insurance losses for a Porsche Cayenne – Insurance companies include the past claim trends for vehicles when determining insurance prices. Vehicles that are shown to have higher claim amounts or frequency will have a higher cost to insure. The information below illustrates the collected loss data for Porsche Cayenne vehicles.

For each insurance policy coverage type, the statistical loss for all vehicles averaged together is set at 100. Percentage numbers below 100 are indicative of better than average losses, while values over 100 show a trend for more claims or an increased likelihood of larger losses.

Porsche Cayenne Insurance Loss Statistics
Specific Porsche 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
Statistics from IIHS.org for 2013-2015 Model Years

Find cheap rates by comparing often

In this article, we presented many ideas to shop for Porsche Cayenne insurance online. The most important thing to understand is the more price quotes you have, the higher your chance of finding inexpensive Greensboro auto insurance quotes. You may even be surprised to find that the lowest priced insurance comes from some of the lesser-known companies. They may often insure only within specific states and give better rates as compared to the big name companies such as State Farm and Allstate.

When getting Greensboro auto insurance quotes online, don’t be tempted to buy lower coverage limits just to save a few bucks. There are too many instances where someone sacrificed liability coverage limits to discover at claim time that it was a big error on their part. Your objective should be to buy the best coverage you can find at the best price, but do not skimp to save money.

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