2016 Porsche Panamera Car Insurance Rates

Trying to find cheaper insurance for your Porsche Panamera could be a lot of work, but you can learn these tips and make it easy. There are more efficient ways to shop for insurance coverage and you need to know the absolute fastest way to quote coverages for a Porsche and find the lowest price from both online companies and local agents.

Discounts for affordable auto insurance rates

Companies that sell car insurance don’t list every policy discount very well, so the following is a list of both the well known and also the lesser-known auto insurance savings.

  • Good Student – Being a good student could provide a savings of up to 20% or more. The discount lasts until age 25.
  • Payment Method – By paying your entire bill at once instead of paying each month you could save up to 5%.
  • Club Memberships – Having an affiliation with qualifying employment or professional organizations could trigger savings when getting a insurance quote.
  • Driver Training Discounts – Taking a course teaching defensive driver skills can save you 5% or more and make you a better driver.
  • Multi-line Discount – Not all companies offer life insurance, but some may give you better premium rates if you take out life insurance from them.
  • E-sign Discounts – Some companies will discount your bill up to fifty bucks for completing your application on the internet.
  • Drivers Education – It’s a good idea to have your young drivers sucessfully take a drivers education course as it will make them better drivers and lower rates.
  • Onboard Data Collection – People who choose to allow their company to analyze driving patterns by using a telematics device in their vehicle such as Drivewise from Allstate or Snapshot from Progressive could possibly reduce rates as long as the data is positive.

We need to note that most discount credits are not given to the overall cost of the policy. Most cut the cost of specific coverages such as comprehensive or collision. Even though it appears you could get a free auto insurance policy, it’s just not the way it works. Any amount of discount will reduce your policy premium.

To see a list of companies with the best auto insurance discounts, follow this link.

Which insurance is cheapest?

Finding low cost insurance rates isn’t really that difficult. The only thing you need to do is take time to compare free insurance quotes to see which company has cheap insurance quotes. This can be accomplished using one of these methods.

  1. Without a doubt, the easiest way to get the best comparison quotes is an all-inclusive rate comparison (click to open form in new window). This style of form keeps you from doing a different quote for every prospective company. One form will get you price quotes from insurance companies with the best prices. Recommended for those who want to invest the least amount of time.
  2. A harder way to analyze rates is to take the time to go to the website for every company you want to comare to request a price quote. For sake of this example, let’s say you want to compare Farmers, Allstate and GEICO. To find out each rate you need to go to every website and repeatedly type in your coverage information, which can take a lot of time.

    For a list of companies in your area, click here.

It’s your choice how you get your quotes, but double check that you are using apples-to-apples coverages and limits with each company. If each company quotes unequal deductibles or liability limits it will be next to impossible to get a fair rate comparison.

Five things that affect your insurance premiums

An important part of buying insurance is that you know the factors that aid in calculating auto insurance rates. If you have a feel for what determines base rates, this allows you to make educated decisions that could help you find lower rates. Lots of things are used when you get a price on insurance. Some are pretty understandable such as your driving history, although some other factors are less obvious such as your credit history or how safe your car is.

Listed below are some of the most common factors used by your company to calculate rates.

  • Do you have enough liability coverage? – Liability coverage is the coverage that protects you if ever you are found to be at fault for an accident. This coverage provides you with a defense in court which can cost a lot. Liability is cheap as compared to coverage for physical damage, so drivers should carry high limits.
  • Save by driving less – The higher the mileage driven in a year’s time the higher your rate. A lot of companies charge rates based upon how much you drive. Cars not used for work or commuting receive better premium rates compared to those used for work or business. An improperly rated Panamera is just wasting money. Make sure your auto insurance policy is showing how each vehicle is driven.
  • Teenage drivers pay more – Teen drivers have been known to be less responsible with other occupants in the car so they pay higher auto insurance rates. Older, more experienced drivers are viewed as being more responsible, tend to file fewer claims , and are generally more financially stable.
  • Extra policy coverages you don’t need – There are a ton of extra coverages that you can get tricked into buying on your auto insurance policy. Coverages for personal injury protection, high-cost glass coverage, and extra equipment coverage are some examples. They may seem good when buying your policy, but if you have no use for them get rid of them and save.
  • Pay more of a claim out-of-pocket – Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your Porsche. Some examples of covered claims are a windshield shattered by a rock, damage from fire, and windstorm damage. Your deductibles state the amount of money you are willing to pay out-of-pocket before your auto insurance pays a claim. The higher the amount you have to pay, the less your auto insurance will be on Panamera insurance.

Tailor your insurance coverage to you

When buying proper insurance coverage for your vehicles, there really is no single plan that fits everyone. Every situation is different.

These are some specific questions may help highlight if you could use an agent’s help.

  • Why do I only qualify for high-risk insurance?
  • Do I really need UM/UIM coverage?
  • Is my dog or cat covered if injured in an accident?
  • Does my policy cover me when driving someone else’s vehicle?
  • How much liability insurance is required?
  • Where can I get insurance after a DUI in my state?
  • Do I need to file an SR-22 for a DUI in my state?
  • What if I total my 2016 Porsche Panamera and owe more than it’s worth?

If you can’t answer these questions but one or more may apply to you then you might want to talk to a licensed agent. If you want to speak to an agent in your area, complete this form. It only takes a few minutes and may give you better protection.

But they said I’d save $440 a year!

Consumers get pounded daily by advertisements for cheaper car insurance by companies like 21st Century, Allstate and State Farm. They all convey the message that you can save if you get a free insurance quote and switch your coverage.

It sounds good, but how can they all charge less that you’re paying now? It’s all in the words they use.

Companies have specific criteria for a prospective insured that is profitable for them. For example, this type of driver should be between 25 and 40, carries high limits, and drives a vehicle with a low ISO rating. Anyone who fits that profile gets the lowest rates and as a result will probably save money with a new company.

People who do not fit the requirements will see higher prices and the customer buying from someone else. If you listen to the ad wording, they say “drivers who switch” but not “all drivers who get quotes” can get the lowest rates when switching. This is how companies can lure you into getting a quote. Different companies use different criteria so it is so important to do a price quote comparison at every renewal. It’s impossible to know which insurance companies will have the best rates at this point in time.

Car insurance coverages for a Porsche Panamera

Knowing the specifics of your policy aids in choosing the best coverages for your vehicles. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording.

Uninsured/Underinsured Motorist coverage – This provides protection from other drivers when they either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and also any damage incurred to your Porsche Panamera.

Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Medical payments coverage and PIP – Med pay and PIP coverage provide coverage for short-term medical expenses like funeral costs, doctor visits and rehabilitation expenses. The coverages can be used to fill the gap from your health insurance policy or if you lack health insurance entirely. They cover both the driver and occupants as well as if you are hit as a while walking down the street. PIP is not universally available and gives slightly broader coverage than med pay

Collision – This coverage covers damage to your Panamera resulting from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims such as colliding with another moving vehicle, colliding with a tree, scraping a guard rail, driving through your garage door and damaging your car on a curb. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. Drivers also have the option to increase the deductible to save money on collision insurance.

Comprehensive coverage – This coverage will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for claims like hitting a bird, damage from flooding, hitting a deer, damage from getting keyed and falling objects. The maximum amount a car insurance company will pay at claim time is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Liability coverages – Liability coverage provides protection from damages or injuries you inflict on other people or property in an accident. This insurance protects YOU against other people’s claims, and doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 50/100/50 which means $50,000 bodily injury coverage, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property.

Liability coverage pays for things like medical expenses, legal defense fees and emergency aid. How much coverage you buy is up to you, but you should buy as large an amount as possible.

Make a quick buck

Cheaper 2016 Porsche Panamera insurance can be found online and with local insurance agents, so you need to shop insurance with both in order to have the best price selection to choose from. There are still a few companies who may not have rates over the internet and many times these smaller companies only sell coverage through local independent agencies.

As you quote insurance, you should never buy poor coverage just to save money. In too many instances, drivers have reduced full coverage and discovered at claim time that the savings was not a smart move. Your objective should be to buy a smart amount of coverage at an affordable rate while not skimping on critical coverages.

We just presented a lot of tips how to reduce 2016 Porsche Panamera insurance premium rates online. The key concept to understand is the more companies you get prices for, the better your comparison will be. You may even discover the lowest premium rates come from a company that doesn’t do a lot of advertising.

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