How to Save on Porsche Cayman Insurance in Virginia Beach

Insurance quote for Porsche Cayman in Virginia BeachIt’s easy to assume that car insurance companies don’t want policyholders to compare prices from other companies. Consumers who compare price quotes will presumably move their business because there is a good probability of finding a lower rate. A recent study showed that consumers who compared rate quotes regularly saved over $865 a year compared to policyholders who never shopped around for cheaper prices.

If finding the best rates on insurance in Virginia Beach is your objective, then having an understanding of how to get rate quotes and compare coverages can make shopping around easier.

It takes a few minutes, but the best way to find more affordable auto insurance rates is to start comparing prices yearly from different companies who can sell car insurance in Virginia Beach. Rates can be compared by following these steps.

The most important part of shopping around is to compare identical deductibles and limits on every quote request and and to get quotes from as many different companies as possible. This provides an apples-to-apples comparison and the best rate selection.

Just remember that comparing more prices gives you a better chance of getting a better price.

The companies in the list below can provide comparison quotes in Virginia. To get cheap car insurance in Virginia, we recommend you compare several of them to find the cheapest auto insurance rates.

Car insurance rates and discounts

The price of auto insurance can be rather high, but you may find discounts that you may not even be aware of. Many of these discounts will be applied automatically when you complete an application, but a few must be asked about in order for you to get them.Cheaper car insurance with discounts

As a disclaimer on discounts, most credits do not apply to the entire cost. Most only cut specific coverage prices like physical damage coverage or medical payments. So even though it sounds like you would end up receiving a 100% discount, it just doesn’t work that way. Any qualifying discounts will reduce your policy premiums.

The illustration below compares Porsche Cayman car insurance rates with and without policy discounts. The premiums are based on a male driver, no violations or claims, Virginia state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, multi-car, homeowner, multi-policy, and marriage discounts applied.

To view providers that offer discounts in Virginia Beach, click here to view.

Premium rates and analysis

The data table shown next covers a range of rate quotes for Porsche Cayman models. Knowing how auto insurance policy rates are formulated can be useful when making smart choices when choosing a car insurance company.

Porsche Cayman Insurance Rates in Virginia Beach, VA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayman 2-Dr Coupe $214 $438 $248 $14 $74 $988 $82
Cayman S 2-Dr Coupe $214 $488 $248 $14 $74 $1,038 $87
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Cost estimates assume married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Virginia minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Price estimates do not factor in specific zip code location which can impact premiums noticeably.

Higher deductibles lower rates

When buying insurance, a common question is the level to set your comp and collision deductibles. The figures shown below lay out how much more rates are between low and high policy deductibles. The first pricing table uses a $100 comprehensive and collision deductible and the second price table uses a $1,000 deductible.

Porsche Cayman insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayman 2-Dr Coupe $306 $614 $258 $16 $78 $1,297 $108
Cayman S 2-Dr Coupe $306 $686 $258 $16 $78 $1,369 $114
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Porsche Cayman insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayman 2-Dr Coupe $170 $324 $258 $16 $78 $846 $71
Cayman S 2-Dr Coupe $170 $362 $258 $16 $78 $884 $74
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Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Virginia minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Table data does not factor in specific location which can alter prices greatly.

We can derive from the above data that using a $100 deductible will cost you approximately $38 more each month or $456 a year averaged for all Cayman models than buying the higher $1,000 deductible. Since you would have to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have more than 24 months between claim filings, you would probably save some money if you decide on a higher deductible.

The chart below shows how choosing a deductible and can change Porsche Cayman insurance premiums for different age groups. The rate quotes are based on a single female driver, comprehensive and collision coverage, and no discounts are applied to the premium.

Does it make sense to buy full coverage?

The information below shows the difference between Porsche Cayman car insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums are based on no claims or violations, $250 deductibles, drivers are not married, and no discounts are applied to the premium.

Deciding between full coverage and liability only

There is no specific rule to stop buying comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than about 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.

For example, let’s assume your Porsche Cayman replacement cost is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $3,000 after you pay the deductible. If you are paying in excess of $300 a year for physical damage coverage, then you may need to consider dropping full coverage.

There are some cases where eliminating full coverage is not a good plan. If you still have a loan on your vehicle, you have to carry full coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.

What Determines Porsche Cayman Insurance Prices?

Multiple criteria are used when you get a price on insurance. A few of the factors are predictable such as your driving history, but other criteria are less obvious like your vehicle usage or your vehicle rating.

Shown below are some of the items used by your company to calculate your rate level.

Compare prices but work with a neighborhood Virginia Beach auto insurance agent

Many people would rather sit down with an agent and often times that is recommended A good thing about comparing insurance prices online is that you can find lower premium rates and still buy from a local agent. Buying from and supporting small agencies is especially important in Virginia Beach.

Insurance agency in Virginia BeachBy using this quick form, your information gets sent to local insurance agents who want to provide quotes for your car insurance coverage. It’s much easier because you don’t need to drive around because prices are sent instantly to you. Get lower rates without a big time investment. If you need to compare rates from a specific company, you just need to visit that company’s website and fill out the quote form the provide.

When searching for a reliable insurance agent, you need to know there are two different types of agents and how they operate. Car insurance agencies are classified as either exclusive agents or independent agents.

Independent Car Insurance Agencies or Brokers

Agents in the independent channel are not required to write business for one company so they have the ability to put coverage through many different car insurance companies enabling the ability to shop coverage around. If your agent finds better pricing, an independent agent can move your coverage and the insured can keep the same agent.

When comparing car insurance prices, you need to get rate quotes from several independent agencies in order to compare the most rates. Most can insure with mutual insurance companies that many times have cheaper rates.

Shown below is a list of independent insurance agencies in Virginia Beach who can help you get price quote information.

More Virginia Beach agents

Exclusive Insurance Agents

Exclusive agents can only place business with one company like State Farm, Allstate and AAA. They usually cannot give you multiple price quotes so they have to upsell other benefits. Exclusive agents receive a lot of sales training on sales techniques which helps offset the inability to provide other markets. Some insured continue to buy insurance from these agents mostly because of loyalty to the company and the convenience of having a single billing for all their coverages.

Listed below are Virginia Beach exclusive insurance agents who can help you get comparison quotes.

More Virginia Beach agents

Finding the right insurance agency needs to be determined by more than just the quoted price. Some important questions to ask are:

Different people need different insurance coverages

When quoting and comparing the right insurance coverage for your personal vehicles, there really isn’t a one-size-fits-all type of policy. Your financial needs are unique.Safe vehicles cost less to insure

For example, these questions can aid in determining if your insurance needs might need an agent’s assistance.

If it’s difficult to answer those questions but a few of them apply, you may need to chat with an insurance agent. To find an agent in your area, take a second and complete this form.

In the end, you can save money

The cheapest Porsche Cayman insurance in Virginia Beach can be bought online and from local insurance agents, and you should compare rates from both to get a complete price analysis. Some insurance providers may not have the ability to get a quote online and usually these regional insurance providers prefer to sell through independent agents.

We just showed you a lot of ways to shop for Porsche Cayman insurance online. It’s most important to understand that the more times you quote, the better likelihood of getting affordable Virginia Beach auto insurance quotes. Drivers may even discover the best prices are with some of the lesser-known companies.

As you restructure your insurance plan, you should never buy lower coverage limits just to save a few bucks. In too many instances, drivers have reduced comprehensive coverage or liability limits only to find out that it was a big mistake. The goal is to purchase plenty of coverage at a price you can afford and still be able to protect your assets.

For more information, take a look at the resources below: