Porsche 911 Insurance Quotes in El Paso

The recommended way to get cheaper Porsche 911 insurance is to start comparing prices regularly from different companies who sell insurance in El Paso. You can compare rates by completing these steps.

Step 1: Take a little time to learn about how auto insurance works and the factors you can control to keep rates in check. Many rating factors that result in higher prices like speeding tickets, careless driving and an imperfect credit score can be eliminated by making minor changes in your lifestyle.

Step 2: Obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only provide price estimates from one company like Progressive or State Farm, while independent agents can provide rate quotes from many different companies.

Step 3: Compare the new quotes to the premium of your current policy to determine if switching companies saves money. If you find a better price, make sure coverage does not lapse between policies.

Step 4: Provide proper notification to your current company of your decision to cancel the current policy. Submit payment and a signed application for your new coverage. Don’t forget to store the proof of insurance paperwork in your vehicle.

A good piece of advice is to use the same coverage limits and deductibles on every quote request and and to get price quotes from as many companies as feasibly possible. Doing this ensures a level playing field and the most accurate and complete price analysis.

Everyone knows that insurance companies don’t want you quoting rates from other companies. Drivers who shop for lower rates are inclined to move their business because they have a good chance of getting low-cost coverage. A study showed that consumers who shopped around every year saved $3,450 over four years compared to those who never shopped around for better prices.

If finding the lowest price for auto insurance in El Paso is your goal, then understanding how to compare coverage rates can save time, money, and frustration.

There are several ways of comparing price quotes from different El Paso insurance companies. The easiest way by far to find cheaper Porsche 911 rates is to use the internet to compare rates. Just keep in mind that comparing more rates from different companies helps increase your odds of locating the best rates.

The auto insurance companies shown below have been selected to offer price quotes in El Paso, TX. If the list has multiple companies, it’s a good idea that you compare several of them in order to find the most affordable rates.

Analysis of Porsche 911 rates

The coverage information below showcases estimates of insurance rates for Porsche 911 models. Being able to understand how rate quotes are calculated can help drivers make smart choices when comparing insurance rates.

Table data represents married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Rates do not factor in your specific El Paso location which can impact price quotes noticeably.

Auto insurance deductibles

One of the hardest decisions when shopping for auto insurance is which deductible level should you buy. The tables below summarize the costs and benefits between low and high policy deductibles. The first data table uses a $100 deductible and the second rate chart uses a $500 deductible.

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Prices do not factor in the specific area where the vehicle is garaged which can change coverage prices considerably.

Based on the figures above, using a $100 deductible costs approximately $48 more each month or $576 annually than opting for the higher $500 deductible. Since the policyholder would be required to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you usually have at least 8 months between claim filings, you would come out ahead by going with a higher deductible.

Auto insurance premiums based on gender

The illustration below shows the comparison of Porsche 911 premium costs for male and female drivers. The premiums assume no tickets, no at-fault accidents, full coverage, $100 deductibles, drivers are not married, and no discounts are applied to the premium.

Difference between full coverage and liability only rates

The illustration below illustrates the comparison of Porsche 911 premium costs with liability coverage only compared to full coverage. The costs are based on no claims or driving violations, $250 deductibles, drivers are not married, and no discounts are applied to the premium.

Are you wasting money paying for full coverage?

There is no definitive guideline of when to eliminate physical damage coverage on your policy, but there is a general school of thought. If the yearly cost of comp and collision coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.

For example, let’s say your Porsche 911 book value is $6,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $5,000 after paying your deductible. If you are paying in excess of $500 annually for full coverage, then you might want to consider buying only liability coverage.

There are some circumstances where dropping full coverage is not advised. If you still owe a portion of the original loan, you have to carry full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not drop full coverage.

Choosing the best Porsche vehicle insurance in Texas is an important decision

Even though it can be expensive, paying for insurance is required in Texas but also provides important benefits.

• Just about all states have minimum mandated liability insurance limits which means you are required to carry a specific minimum amount of liability insurance coverage if you drive a vehicle. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
• If you have a loan on your Porsche, it’s guaranteed your bank will force you to buy insurance to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the lender may insure your Porsche for a lot more money and require you to pay for it.
• Insurance safeguards your vehicle and your assets. Insurance will pay for all forms of medical expenses for you, any passengers, and anyone injured in an accident. As part of your policy, liability insurance will also pay to defend you in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, comprehensive (other-than-collision) and collision coverage will cover the repair costs.

The benefits of insuring your 911 definitely exceed the price paid, particularly for liability claims. According to a 2015 survey, the average American driver overpays as much as $820 a year so it’s very important to do a rate comparison at every policy renewal to ensure rates are inline.

What Impacts Porsche 911 Insurance Rates?

When buying car insurance it’s important to understand some of the elements that aid in calculating car insurance rates. When you know what positively or negatively positively or negatively impacts your premiums, this enables you to make decisions that could help you find better car insurance rates. Many different elements are used in the calculation when premium rates are determined. Some are pretty understandable such as your driving history, but other criteria are more obscure such as whether you are married or how financially stable you are.

Listed below are some of the most rate-impacting factors used by your company to calculate premiums.

• Safety first – Safe vehicles tend to be cheaper to insure. The safest vehicles protect occupants better and reduced instances of injuries means less claims paid and cheaper rates on your policy.
• Discounts for auto and home policies – Lots of insurers allow discounts to buyers that buy multiple policies such as combining an auto and homeowners policy. Even though this discount sounds good, it’s still a good idea to compare Porsche 911 rates in El Paso to ensure the best deal.
• Too many car insurance claims and you’ll pay more – Insurance companies in Texas generally give lower rates to drivers who do not file claims often. If you tend to file frequent claims, you can definitely plan on higher rates. Your car insurance is meant to be used in the event of major claims that would cause financial hardship.
• Single vs. married – Walking down the aisle may cut your premiums on car insurance. Having a spouse means you’re more stable financially and statistics prove married drivers get in fewer accidents.
• Bad credit hurts insurance premiums – A driver’s credit score factor in your rate calculation. Therefore, if your credit score can be improved, you could save money insuring your Porsche 911 by taking the time to improve your credit score. People that have high credit scores tend to be more responsible as compared to drivers with worse credit.

• Traffic violations inflate costs – Your driving record can have a huge impact on auto insurance premiums. Even a single ticket can increase rates by twenty percent. Drivers with clean records receive lower rates compared to drivers with tickets. People who have multiple violations like DUI or willful reckless driving may be required to prove financial responsibility with their state DMV in order to prevent their license from being revoked.

  The information below highlights how traffic violations and at-fault fender-benders can increase Porsche 911 car insurance rates for each different age group. The prices are based on a single female driver, comprehensive and collision coverage, $100 deductibles, and no policy discounts are applied.

• Loss statistics for a Porsche 911 – Insurers use claims history to help calculate a profitable premium rate. Models that are shown to have increased losses will cost more to insure.

  The information below illustrates the compiled insurance loss statistics for Porsche 911 vehicles. For each insurance policy coverage type, the claim probability for all vehicles, regardless of make, model or trim level, is equal to 100. Numbers that are below 100 are indicative of better than average losses, while values over 100 indicate more frequent losses or an increased probability of a larger loss.

  
  

  Porsche 911 Insurance Loss Statistics

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Porsche 911 Carrera 2dr	191	47	173	24
  Porsche 911 Carrera Convertible	197	51	224	36
  Porsche 911 Turbo 2dr 4WD	349		367

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Statistics from IIHS.org for 2013-2015 Model Years

Do the work, save more money

As you go through the steps to switch your coverage, it’s a bad idea to buy poor coverage just to save money. Too many times, drivers have reduced full coverage and discovered at claim time that the savings was not a smart move. Your focus should be to purchase plenty of coverage at the best cost, not the least amount of coverage.

Drivers who switch companies do it for a number of reasons such as denial of a claim, poor customer service, extreme rates for teen drivers or even high prices. No matter why you want to switch, choosing a new company is actually quite simple.

We just presented some good ideas how to find affordable Porsche 911 insurance in El Paso. It’s most important to understand that the more price quotes you have, the better your comparison will be. You may even discover the best price on auto insurance is with a smaller regional carrier.

Additional detailed information is located in these articles:

• Vehicle Safety Ratings (iihs.org)
• Where can I buy Insurance? (Insurance Information Institute)
• Your Car has been Stolen: Now What? (Allstate)
• Understanding Limits and Deductibles (Allstate)