If your goal is the lowest price, then the best way to get cheaper auto insurance rates is to do an annual price comparison from different companies in Henderson. You can compare prices by completing these steps.
- First, get an understanding of how auto insurance works and the changes you can make to lower rates. Many rating criteria that are responsible for high rates such as getting speeding tickets and an unacceptable credit rating can be controlled by paying attention to minor details.
- Second, compare rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can give quotes from a single company like Progressive or Allstate, while independent agents can provide rate quotes from multiple sources.
- Third, compare the price quotes to the price on your current policy to see if you can save by switching companies. If you can save money and change companies, verify that coverage does not lapse between policies.
- Fourth, notify your company or agent to cancel the current policy. Submit the application along with any required down payment to your new agent or company. Once received, place your new certificate verifying coverage in an accessible location in your vehicle.
One tip to remember is to try to use the same coverage limits and deductibles on each quote and and to get rate quotes from as many carriers as you can. Doing this helps ensure an apples-to-apples comparison and a better comparison of the market.
Anyone knows that insurance companies don’t want their policyholders to compare prices. Insureds who shop around annually will probably switch companies because there is a great chance of finding a lower-priced company. Remarkably, a study showed that consumers who compared rate quotes regularly saved approximately $3,450 over four years compared to policyholders who never compared rates.
If finding budget-friendly rates on Porsche 911 insurance in Henderson is your objective, then having some insight into how to get rate quotes and compare car insurance can make it easier for you to save money.
What Determines Porsche 911 Insurance Premiums?
Consumers need to have an understanding of the rating factors that go into determining your car insurance rates. If you have a feel for what influences your rates, this allows you to make educated decisions that can help you get lower premium levels. Lots of factors are part of the calculation when you get your auto insurance bill. A few of the factors are predictable such as your driving history, although some other factors are more obscure like your vehicle usage or how safe your car is.
The factors shown below are a few of the “ingredients” used by your company to calculate your rates.
Marriage discount – Having a wife or husband helps lower the price on your car insurance bill. Marriage translates into being more financially stable and it’s proven that married drivers get in fewer accidents.
More stress means more cost – Occupational choices like military personnel, business owners, and accountants generally have higher rates than the rest of us in part from high stress levels and long work days. Conversely, jobs such as actors, students and homemakers have the lowest average rates.
Premiums increase with driving tickets – Having just one moving violation can increase the cost of insurance substantially. Drivers with clean records have lower premiums compared to bad drivers. Drivers who have gotten multiple tickets like DUI or willful reckless driving may find that they have to to complete a SR-22 with their state’s department of motor vehicles in order to prevent a license revocation.
The diagram below highlights how traffic violations and at-fault fender-benders raise Porsche 911 car insurance costs for different insured age categories. Data assumes a married female driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.
Your address can affect prices – Having an address in areas with lower population has definite advantages if you are looking for the lowest rates. City drivers have congested traffic and a longer drive to work. Lower population means reduced accidents in addition to fewer liability claims.
Poor credit rating equals high costs – A driver’s credit history is likely to be a major factor in determining premium rates. If your credit score is lower than you’d like, you could potentially save money when insuring your Porsche 911 by taking the time to improve your credit score. People that have very good credit scores tend to be better risks to insure than those with lower credit scores.
Vehicle options can affect premiums – Selecting a car model with a theft deterrent system can save you a little every year. Theft deterrent systems such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack all hinder auto theft.
Always keep your car insurance in place – Driving your car without having proper coverage is not a good idea and you will pay a penalty because you let your coverage cancel without a new policy in place. Not only will you pay more, the inability to provide proof of insurance may earn you fines and jail time.
Rental and towing coverage may not be needed – There are a lot of additional extra coverages that may not really be needed if you aren’t diligent. Add-on coverages like rental car coverage, towing, and extra life insurance coverage are probably not needed. They may sound like good ideas when discussing your needs, but your money might be better spent on other coverage so remove them from your policy.
Claims statistics for a Porsche 911 – Insurance companies include the past claim history for a vehicle to help determine costs. Vehicles that historically have higher number or severity of losses will cost more to insure.
The table shown below demonstrates the insurance loss data used by companies for Porsche 911 vehicles. For each coverage type, the statistical loss for all vehicles, regardless of make or model, equals 100. Values that are below 100 suggest a positive loss record, while numbers above 100 indicate a higher chance of having a claim or a tendency for losses to be larger than average.
| 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 |
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Porsche 911 insurance rates and statistics
The rate information displayed below outlines detailed analysis of coverage costs for Porsche 911 models. Having insight into how policy rates are calculated can benefit drivers when making informed decisions when shopping around for a new policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 911 Carrera 2 2-Dr Coupe | $174 | $406 | $296 | $18 | $88 | $982 | $82 |
| 911 Carrera 4 2-Dr Coupe | $188 | $406 | $296 | $18 | $88 | $996 | $83 |
| 911 Carrera 2 Cabriolet 2-Dr Convertible | $188 | $406 | $252 | $14 | $76 | $936 | $78 |
| 911 Carrera 2 S 2-Dr Coupe | $188 | $406 | $296 | $18 | $88 | $996 | $83 |
| 911 Carrera 4 Cabriolet 2-Dr Convertible | $188 | $406 | $252 | $14 | $76 | $936 | $78 |
| 911 Carrera 4S 2-Dr Coupe | $188 | $444 | $296 | $18 | $88 | $1,034 | $86 |
| 911 Carrera Targa 2-Dr Coupe | $188 | $444 | $296 | $18 | $88 | $1,034 | $86 |
| 911 Carrera 2 S 2-Dr Convertible | $188 | $444 | $252 | $14 | $76 | $974 | $81 |
| 911 Carrera 4S Cabriolet 2-Dr Convertible | $204 | $406 | $252 | $14 | $76 | $952 | $79 |
| 911 Carrera Targa S 2-Dr Coupe | $204 | $444 | $296 | $18 | $88 | $1,050 | $88 |
| 911 GT3 2-Dr Coupe | $204 | $482 | $296 | $18 | $88 | $1,088 | $91 |
| 911 GT3 RS 2-Dr Coupe | $232 | $520 | $296 | $18 | $88 | $1,154 | $96 |
| 911 Turbo 2-Dr Coupe | $232 | $520 | $296 | $18 | $88 | $1,154 | $96 |
| 911 Turbo 2-Dr Convertible | $232 | $558 | $252 | $14 | $76 | $1,132 | $94 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Rate information does not factor in the specific area where the vehicle is garaged which can lower or raise insurance rates greatly.
Deductible analysis
When shopping for car insurance, a common question is at what level do you set your deductibles. The data tables below can help you understand the rate differences when you select higher and lower comp and collision deductibles. The first set of rates uses a $100 comprehensive and collision deductible and the second pricing table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 911 Carrera 2 2-Dr Coupe | $402 | $906 | $308 | $18 | $92 | $1,751 | $146 |
| 911 Carrera 4 2-Dr Coupe | $436 | $906 | $308 | $18 | $92 | $1,785 | $149 |
| 911 Carrera 2 Cabriolet 2-Dr Convertible | $436 | $906 | $262 | $16 | $78 | $1,723 | $144 |
| 911 Carrera 2 S 2-Dr Coupe | $436 | $906 | $308 | $18 | $92 | $1,785 | $149 |
| 911 Carrera 4 Cabriolet 2-Dr Convertible | $436 | $906 | $262 | $16 | $78 | $1,723 | $144 |
| 911 Carrera 4S 2-Dr Coupe | $436 | $992 | $308 | $18 | $92 | $1,871 | $156 |
| 911 Carrera Targa 2-Dr Coupe | $436 | $992 | $308 | $18 | $92 | $1,871 | $156 |
| 911 Carrera 2 S 2-Dr Convertible | $436 | $992 | $262 | $16 | $78 | $1,809 | $151 |
| 911 Carrera 4S Cabriolet 2-Dr Convertible | $470 | $906 | $262 | $16 | $78 | $1,757 | $146 |
| 911 Carrera Targa S 2-Dr Coupe | $470 | $992 | $308 | $18 | $92 | $1,905 | $159 |
| 911 GT3 2-Dr Coupe | $470 | $1076 | $308 | $18 | $92 | $1,989 | $166 |
| 911 GT3 RS 2-Dr Coupe | $538 | $1162 | $308 | $18 | $92 | $2,143 | $179 |
| 911 Turbo 2-Dr Coupe | $538 | $1162 | $308 | $18 | $92 | $2,143 | $179 |
| 911 Turbo 2-Dr Convertible | $538 | $1248 | $262 | $16 | $78 | $2,167 | $181 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 911 Carrera 2 2-Dr Coupe | $222 | $478 | $308 | $18 | $92 | $1,118 | $93 |
| 911 Carrera 4 2-Dr Coupe | $242 | $478 | $308 | $18 | $92 | $1,138 | $95 |
| 911 Carrera 2 Cabriolet 2-Dr Convertible | $242 | $478 | $262 | $16 | $78 | $1,076 | $90 |
| 911 Carrera 2 S 2-Dr Coupe | $242 | $478 | $308 | $18 | $92 | $1,138 | $95 |
| 911 Carrera 4 Cabriolet 2-Dr Convertible | $242 | $478 | $262 | $16 | $78 | $1,076 | $90 |
| 911 Carrera 4S 2-Dr Coupe | $242 | $522 | $308 | $18 | $92 | $1,182 | $99 |
| 911 Carrera Targa 2-Dr Coupe | $242 | $522 | $308 | $18 | $92 | $1,182 | $99 |
| 911 Carrera 2 S 2-Dr Convertible | $242 | $522 | $262 | $16 | $78 | $1,120 | $93 |
| 911 Carrera 4S Cabriolet 2-Dr Convertible | $260 | $478 | $262 | $16 | $78 | $1,094 | $91 |
| 911 Carrera Targa S 2-Dr Coupe | $260 | $522 | $308 | $18 | $92 | $1,200 | $100 |
| 911 GT3 2-Dr Coupe | $260 | $568 | $308 | $18 | $92 | $1,246 | $104 |
| 911 GT3 RS 2-Dr Coupe | $298 | $612 | $308 | $18 | $92 | $1,328 | $111 |
| 911 Turbo 2-Dr Coupe | $298 | $612 | $308 | $18 | $92 | $1,328 | $111 |
| 911 Turbo 2-Dr Convertible | $298 | $658 | $262 | $16 | $78 | $1,312 | $109 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Nevada minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Price estimates do not factor in vehicle location which can impact coverage rates significantly.
Based on the data above, we can derive that using a $100 deductible will cost you approximately $59 more each month or $708 each year than quoting the higher $1,000 deductible. Since you would pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you average more than 15 months between claims, you would more than likely save some money if you choose a higher deductible.
How to calculate if a higher deductible is a good decision
| Average monthly premium for $100 deductibles: | $158 |
| Average monthly premium for $1,000 deductibles (subtract): | – $99 |
| Monthly savings from raising deductible: | $59 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $59 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 15 months |
An important thing to remember is that raising deductibles to save money results in a higher out-of-pocket expense when you file a claim. That will necessitate some funds available in order to pay the higher deductible in order to repair your vehicle.
Gender-based car insurance rates
The example below illustrates the difference between Porsche 911 premium costs for male and female drivers. The premium estimates are based on no claims, a clean driving record, comp and collision included, $100 deductibles, drivers are not married, and no additional discounts are factored in.
Comparison of full coverage and liability-only policies
The information below visualizes the comparison of Porsche 911 premium costs with full coverage compared to only the Nevada minimum liability coverage. The prices are based on no tickets, no at-fault accidents, $100 deductibles, drivers are single, and no additional discounts are factored in.
Should you pay for full coverage or liability only?
There is no set guideline of when to stop paying for physical damage coverage on your policy, but there is a general school of thought. If the annual cost of having full coverage is 10% or more of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s say your Porsche 911 replacement cost is $3,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $2,000 after you pay the deductible. If you are paying in excess of $200 a year for comprehensive and collision coverage, then you might want to consider buying only liability coverage.
There are some conditions where dropping full coverage is not financially feasible. If you still have a loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should maintain full coverage.
Affordable rates by getting discounts
Properly insuring your vehicles can get expensive, but there could be significant discounts that many consumers don’t even know exist. Some trigger automatically when you purchase, but lesser-known reductions have to be inquired about prior to receiving the credit.
- Accident-Free Discounts – Drivers with accident-free driving histories pay much less in comparison with bad drivers.
- Paper-free Discount – A few larger online companies will provide an incentive for buying your policy on the web.
- Good Student Discount – Excelling in school may save as much as 25% on a Henderson auto insurance quote. The good student discount can last up until you turn 25.
- Distant College Student Discount – College-age children who live away from home to go to college and do not have a car may qualify for this discount.
- Military Rewards – Being deployed in the military could mean lower premium rates.
As a footnote on discounts, most credits do not apply to the entire cost. Some only apply to specific coverage prices like liability and collision coverage. If you do the math and it seems like you can get free auto insurance, companies don’t profit that way.
The diagram below compares Porsche 911 auto insurance rates with and without discounts applied to the policy premium. The premiums assume a male driver, no violations or accidents, Nevada state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, claim-free, safe-driver, homeowner, marriage, and multi-policy discounts applied.
Popular car insurance companies and a partial list of their discounts include:
- State Farm has discounts for safe vehicle, student away at school, multiple autos, passive restraint, anti-theft, and multiple policy.
- American Family may include discounts for TimeAway discount, accident-free, air bags, good driver, good student, bundled insurance, and early bird.
- AAA discounts include pay-in-full, education and occupation, multi-policy, good driver, multi-car, good student, and AAA membership discount.
- GEICO may have discounts that include air bags, military active duty, good student, daytime running lights, and membership and employees.
- Mercury Insurance offers discounts including annual mileage, good student, age of vehicle, good driver, and ease of repair.
- Farmers Insurance offers discounts for mature driver, good student, switch companies, teen driver, alternative fuel, early shopping, and youthful driver.
- Progressive includes discounts for online signing, multi-policy, homeowner, good student, online quote discount, multi-vehicle, and continuous coverage.
When comparing rates, check with every prospective company which discounts they offer. Some credits might not be offered on policies in Henderson. If you would like to view providers with discount car insurance rates in Henderson, click here.
Cheaper car insurance is a realistic goal
Throughout this article, we presented many tips how you can compare Porsche 911 insurance auto insurance rates in Henderson. The key thing to remember is the more quotes you get, the better likelihood of getting affordable Porsche 911 insurance quotes. Drivers may even discover the best auto insurance rates are with a lesser-known regional company.
When shopping online for car insurance, you should never skimp on coverage in order to save money. In many instances, an insured cut liability limits or collision coverage only to regret at claim time that they should have had better coverage. The ultimate goal is to purchase plenty of coverage for the lowest price but still have enough coverage for asset protection.
People who switch companies do it for a variety of reasons including questionable increases in premium, lack of trust in their agent, denial of a claim or even unfair underwriting practices. It doesn’t matter why you want to switch finding a new company is not as difficult as it may seem.
Other learning opportunities
- Vehicle Insurance in the U.S. (Wikipedia)
- Who Has the Cheapest Auto Insurance for a Subaru Outback in Henderson? (FAQ)
- Booster Seat Ratings (iihs.org)
- Auto Insurance Learning Center (State Farm)
- Teen Driving Statistics (iihs.org)
- Five Tips to Save on Auto Insurance (Insurance Information Institute)