Having to pay for overpriced Porsche 968 insurance can dwindle your personal savings and make it hard to pay other bills. Comparison shopping is a smart way to help make ends meet.
Insurance companies such as State Farm and GEICO constantly blast consumers with advertising and it is challenging if not impossible to see past the geckos and flying pigs and take the time to shop coverage around.
It’s a great practice to compare prices quite often because prices fluctuate regularly. Despite the fact that you may have had the lowest price for 968 coverage a year ago you will most likely find a better rate today. Forget all the misinformation about car insurance because you’re about to learn one of the easiest ways to find better coverage at a better price.
Comparison of Car Insurance
The are a couple different ways of comparing rate quotes from different insurance companies. The simplest method to find the lowest Porsche 968 rates is to get quotes online. This is very easy and can be done using a couple different methods.
Probably the best way to get the best comparison quotes is a comparison rater form like this one (opens in new window). This method saves time by eliminating a different quote for every car insurance company. Filling out one form will get you rate comparisons from multiple low-cost companies.
A less efficient way to analyze rates is to take the time to go to each company’s website and complete a new quote form. For sake of this example, we’ll pretend you want to compare GEICO, Progressive and Farmers. To find out each rate you need to go to every website to enter your coverage information, and that’s why the first method is more popular. For a list of links to insurance companies in your area, click here.
However you get your quotes, make darn sure you compare the exact same coverage limits and deductibles for every quote you compare. If you use different liability limits then you won’t be able to determine the lowest rate for your Porsche 968. Slightly different coverages could mean much higher rates. Keep in mind that obtaining a wide range of quotes gives you a better chance of getting the best offered rates.
Do you qualify for discounts?
The price of auto insurance can be rather high, but there are discounts available to reduce the price significantly. Some discounts apply automatically when you complete an application, but lesser-known reductions have to be asked for before you get the savings.
- Military Rewards – Having a family member in the military can result in better rates.
- Defensive Driver – Taking part in a defensive driving course could save 5% or more if your company offers it.
- Homeowners Pay Less – Being a homeowner can help you save on car insurance due to the fact that maintaining a home is proof that your finances are in order.
- Anti-theft System – Vehicles with anti-theft systems prevent vehicle theft and will save you 10% or more.
- Federal Employees – Employees or retirees of the government may qualify you for a discount for 968 coverage with certain companies.
- Anti-lock Brake System – Vehicles with anti-lock braking systems can reduce accidents and earn discounts up to 10%.
- Drive Safe and Save – Safe drivers can pay as much as 50% less for 968 coverage than drivers with accidents.
- Auto/Home Discount – If you insure your home and vehicles with the same insurance company you may earn up to 20% off your total premium.
- Student in College – Any of your kids who live away from home and do not have a car can receive lower rates.
- Drive Less and Save – Keeping the miles down on your Porsche can qualify you for lower rates on the low mileage vehicles.
Keep in mind that many deductions do not apply to the entire policy premium. Most only reduce individual premiums such as medical payments or collision. Just because it seems like all the discounts add up to a free policy, it just doesn’t work that way. But any discount will bring down the amount you have to pay.
To choose companies offering car insurance discounts, follow this link.
Impacting insurance rates for a Porsche 968
An important part of buying insurance is that you know the different types of things that go into determining car insurance rates. Having a good understanding of what influences your rates allows you to make educated decisions that could result in better car insurance rates.
Listed below are a few of the “ingredients” companies use to determine premiums.
- More people means more accidents – Living in a small town can save you money when insuring your vehicles. Drivers in populated areas tend to have traffic congestion and much longer commute distances. Fewer people means a lower chance of having an accident as well as less vandalism and auto theft.
- Discounts for multiple policies – Most insurers give discounts to policyholders who have multiple policies with them such as combining an auto and homeowners policy. Discounts can be five, ten or even twenty percent. Even if you’re getting this discount it’s in your best interest to comparison shop to ensure the best deal. You may still be able to find a better deal by insuring with multiple companies.
- Your car insurance rates can be influenced by your job – Occupations such as doctors, business owners and financial analysts tend to pay higher average rates in part from high stress levels and long work days. Conversely, occupations such as farmers, engineers and the unemployed have the lowest average rates for 968 coverage.
- Traffic citations inflate rates – Good drivers tend to pay less for car insurance than bad drivers. Even a single citation can increase rates twenty percent or more. If you have serious violations such as DWI, reckless driving or hit and run convictions may find they need to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to continue driving.
- Don’t buy coverages you don’t need – There are a ton of add-on coverages you can purchase if you aren’t careful. Insurance for roadside assistance, better glass coverage and motor club memberships are examples of these. These coverages may sound good initially, but if you don’t need them eliminate the coverages to reduce your premium.
- High credit ratings translate to low rates – A driver’s credit history is a large factor in your rate calculation. So if your credit history is not that good, you could pay less to insure your Porsche 968 by improving your rating. Consumers who have excellent credit tend to be less risk to insure than those with lower credit scores.
- Adjust deductibles and save – Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, is used to repair damage to your Porsche. Examples of covered claims could be running into the backend of another car, vandalism, and rolling your vehicle. Physical damage deductibles are how much you are required to spend out-of-pocket before your car insurance pays a claim. The more expense you’re willing to pay, the less your car insurance will be for 968 coverage.
- Don’t cancel a policy without a new one in place – Not having insurance is a misdemeanor and your next policy will cost more because you let your insurance expire. Not only will you pay more, getting caught without coverage may earn you a license revocation or jail time.Then you may be required to prove you have insurance by filing a SR-22 with your state department of motor vehicles.
Are you falling for claims of savings?
Car insurance providers like Allstate, GEICO and Progressive consistently run television and radio advertisements. They all have a common claim that you can save if you change to them. How can each company make almost identical claims? This is how they do it.
All the different companies are able to cherry pick for the driver they prefer to insure. For instance, a preferred risk might be profiled as over the age of 40, has no tickets, and drives newer vehicles. Any new insured who fits that profile will qualify for the lowest rates and most likely will save quite a bit of money when switching.
Potential insureds who fall outside the requirements must pay higher prices and ends up with business not being written. The ads say “drivers who switch” not “everyone that quotes” save money. That’s why insurance companies can advertise the savings.
This illustrates why you should get quotes from several different companies. It is impossible to predict which company will provide you with the cheapest rates.
More effort can pay off
When buying insurance coverage, it’s very important that you do not sacrifice coverage to reduce premiums. There have been many situations where an insured dropped uninsured motorist or liability limits only to regret at claim time that saving that couple of dollars actually costed them tens of thousands. The proper strategy is to purchase plenty of coverage for the lowest price while not skimping on critical coverages.
We just presented quite a bit of information on how to lower your Porsche 968 insurance rates. The most important thing to understand is the more price quotes you have, the higher the chance of saving money. You may be surprised to find that the biggest savings come from a company that doesn’t do a lot of advertising. Some small companies often have lower prices on specific markets than the large multi-state companies such as Allstate or State Farm.
