2013 Porsche Panamera Insurance Rates – 8 Policy Discounts

I can’t think of a single person who loves paying for auto insurance, particularly when their premiums are through the roof.

Since you have so many insurance companies to choose from, it is hard for the average consumer to locate the most affordable insurer.

It’s smart to quote other rates yearly since insurance prices change quite often. If you had the best rates on Panamera insurance a couple years back you will most likely find a better rate quote today. Forget anything you know (or think you know) about auto insurance because you’re about to learn how to quote online to find better coverage at a better price.

Eight discounts for cheaper insurance rates

Some providers don’t always publicize every available discount very clearly, so the below list has some of the more common and the harder-to-find insurance savings.

  • Accident Forgiveness Coverage – but some companies like Allstate, State Farm and GEICO will forgive one accident before your rates go up with the catch being you have to be claim-free for a particular time prior to the accident.
  • Telematics Devices – Insureds who allow their insurance company to look at their driving habits by using a small device installed in their vehicle such as Allstate’s Drivewise and State Farm’s In-Drive system might get better premium rates if they have good driving habits.
  • Safety Restraint Discount – Requiring all passengers to buckle up before driving could cut 10% or more on medical payment and PIP coverage.
  • Employee of Federal Government – Active or retired federal employment may qualify for a discount when you quote insurance coverage on Panamera insurance with a few insurance companies.
  • Driver Education Discount – Teen drivers should take driver’s ed class in school.
  • Pay Early and Save – By making one initial payment instead of making monthly payments you may have a lower total premium amount.
  • Early Renewal Discounts – Some insurance companies provide a discount for signing up before your current coverage expires. It can save you around 10%.
  • Distant Student Discount – Any of your kids who attend college more than 100 miles from home and leave their car at home can receive lower rates.

Please keep in mind that some of the credits will not apply to the entire policy premium. Most only cut the price of certain insurance coverages like collision or personal injury protection. Even though the math looks like you can get free auto insurance, you’re out of luck. But any discount will cut your overall premium however.

A few popular companies and the discounts they provide are shown below.

  • Farmers Insurance offers premium reductions for early shopping, teen driver, good student, business and professional, and alternative fuel.
  • Esurance offers discounts for homeowner, emergency road assistance, safety device, Pac-12 alumni, good student, and online quote.
  • State Farm includes discounts for Steer Clear safe driver discount, good student, safe vehicle, driver’s education, accident-free, and defensive driving training.
  • GEICO has savings for driver training, anti-theft, multi-policy, emergency military deployment, air bags, and daytime running lights.
  • Allstate may have discounts that include economy car, FullPay discount, farm vehicle, premier discount, 55 and retired, anti-theft, and good payer.

When comparing rates, check with every company which discounts can lower your rates. Some discounts may not be available in your area. For a list of insurance companies that provide some of the discounts listed above, click here to view.

Car insurance companies are expert advertisers

Popular car insurance providers such as Progressive, GEICO, Allstate and State Farm seem to constantly run ads on TV and radio. All the companies say the same thing that drivers will save a bundle if you just switch your coverage to them. Is it even possible that every company can give you a better price? It’s all in the numbers.

Different companies give the best rates for the type of driver that is profitable for them. One example of this type of driver might be described as a married female, is a homeowner, and drives less than 7,500 miles a year. Someone that matches those criteria will most likely get cheap prices and will also save a lot if they switch.

Insureds who do not match these criteria will probably have to pay a more expensive rate and the prospect going elsewhere. If you pay attention, the ads say “customers that switch” not “everyone that quotes” save that much money. That’s why companies can truthfully claim big savings.

Because of these techniques, you need to get as many free insurance coverage quotes as possible. Because you cannot predict with any certainty which company will have the best prices at this point in time.

Tailor your auto insurance coverage to you

When buying proper insurance coverage for your personal vehicles, there really is not a “best” method to buy coverage. Coverage needs to be tailored to your specific needs and your policy should reflect that. For example, these questions may help you determine if you might need professional guidance.

  • How do I buy GAP insurance?
  • Can my babysitter drive my car?
  • Should I rate my 2013 Porsche Panamera as pleasure use or commute?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?
  • Does car insurance cover theft of personal property?
  • Am I covered if I crash into my own garage door?
  • Does my car insurance cover rental cars?
  • Does coverage extend to Mexico or Canada?
  • Is my vehicle covered by my employer’s policy when using it for work?

If you can’t answer these questions, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area.

Auto insurance coverages explained

Learning about specific coverages of your auto insurance policy helps when choosing which coverages you need and proper limits and deductibles. The terms used in a policy can be confusing and nobody wants to actually read their policy. Shown next are typical coverage types found on most auto insurance policies.

Coverage for medical payments – Personal Injury Protection (PIP) and medical payments coverage pay for bills for pain medications, prosthetic devices, ambulance fees and hospital visits. They are used to fill the gap from your health insurance policy or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants as well as getting struck while a pedestrian. Personal injury protection coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Comprehensive coverages – This covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things like falling objects, hail damage and damage from flooding. The highest amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Uninsured and underinsured coverage – This protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family as well as damage to your Porsche Panamera.

Because many people have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage should not be overlooked. Most of the time these limits are identical to your policy’s liability coverage.

Liability insurance – This coverage protects you from damage that occurs to a person or their property by causing an accident. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 100/300/100 which means $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property. Another option is one number which is a combined single limit which provides one coverage limit and claims can be made without the split limit restrictions.

Liability insurance covers things such as loss of income, structural damage, funeral expenses and pain and suffering. How much liability coverage do you need? That is a decision to put some thought into, but you should buy as large an amount as possible.

Collision – Collision coverage pays to fix your vehicle from damage resulting from a collision with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision insurance covers things like scraping a guard rail, colliding with another moving vehicle and hitting a mailbox. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. It’s also possible to bump up the deductible to get cheaper collision coverage.

Make a quick buck

You just read a lot of tips how to get a better price on 2013 Porsche Panamera insurance. The key thing to remember is the more rate quotes you have, the better your chances of lowering your rates. You may be surprised to find that the lowest priced car insurance comes from some of the smallest insurance companies. Smaller companies can often insure niche markets at a lower cost than the large multi-state companies such as State Farm or Progressive.

When trying to cut insurance costs, you should never skimp on critical coverages to save a buck or two. In many cases, an accident victim reduced physical damage coverage and discovered at claim time that they should have had better coverage. Your strategy should be to buy the best coverage you can find at a price you can afford but still have enough coverage for asset protection.

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