How to Save on Porsche Cayman Insurance in Virginia Beach

It’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.

• Step 1: Try to comprehend car insurance and the changes you can make to keep rates low. Many rating factors that cause high rates such as multiple speeding tickets and a bad credit score can be rectified by making minor driving habit or lifestyle changes. Read the full article for more information to help keep rates affordable and find more discounts that you may not know about.
• Step 2: Obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only provide price estimates from a single company like Progressive or State Farm, while independent agents can provide price quotes from multiple companies.
• Step 3: Compare the new rates to your current policy to see if you can save by switching companies. If you find a lower rate and switch companies, make sure coverage is continuous and does not lapse.

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.

• Low Mileage Discounts – Driving fewer miles could qualify for better premium rates on cars that stay parked.
• Drive Safe and Save – Drivers who avoid accidents may receive a discount up to 45% compared to accident prone drivers.
• Claim Free – Virginia Beach drivers who stay claim-free have much lower rates as compared to insureds who have frequent claims or accidents.
• Senior Citizen Rates – If you qualify as a senior citizen, you can get a small decrease in premiums.
• Seat Belts Save more than Lives – Forcing all vehicle occupants to fasten their seat belts could cut 10% or more on medical payment and PIP coverage.

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.

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.

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.

• Vocation impacts rates – Did you know your job can affect your rates? Jobs such as military generals, executives, and financial analysts generally have higher premiums than the average policyholder in part from stressful work requirements and lengthy work days. Conversely, jobs such as professors, athletes and the unemployed pay lower than average rates.
• Save by driving less – Driving a lot of miles every year the higher the price you pay to insure it. The majority of insurers charge to insure your cars based on how the vehicle is used. Vehicles that do not get driven very much get more affordable rates as compared to vehicles used primarily for driving to work. Having the wrong rating on your Cayman is throwing money out the window. It’s a good idea to make sure your insurance policy shows annual mileage.
• Save by driving vehicles with better crash test results – Safe vehicles are cheaper to insure. These vehicles reduce the chance of injuries and any reduction in injury severity translates into fewer and smaller insurance claims passed on to you as lower rates. If your Porsche Cayman earned at least four stars on Safercar.gov it may cost less to insure.
• Theft deterrents systems cut rates – Selecting a car model with an alarm system can get you a discount on your insurance. Advanced theft deterrents like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent vehicle theft.
• Discounts for married drivers – Having a wife or husband may cut your premiums on insurance. Marriage demonstrates that you tend to be more financially stable and it’s statistically proven that being married results in fewer claims.

• Bad drivers pay high rates – How you drive influences premium rates substantially. Having a single chargeable violation can increase the cost of insurance forty percent or more. Attentive drivers have lower premiums compared to drivers with tickets. Drivers who have license-revoking violations such as DWI, reckless driving or hit and run convictions may need to maintain a SR-22 with their state motor vehicle department in order to legally drive.

  The illustration below illustrates how violations and fender-benders increase Porsche Cayman yearly insurance costs for each different age group. The premiums assume a married female driver, full coverage, $500 deductibles, and no policy discounts are applied.

• Porsche Cayman claim probability – Auto insurance companies use data from past claims when they file their rates in each state. Vehicles that the data shows to have higher prevalence or dollar amount of losses will be charged more to insure. The next table illustrates the collected loss data for Porsche Cayman vehicles.

  For each insurance policy coverage type, the statistical loss for all vehicles, regardless of make, model or trim level, is equal to 100. Numbers that are below 100 suggest a better than average loss history, while percentages above 100 indicate more frequent claims or statistically larger losses.

  
  

  Porsche Cayman Insurance Loss Statistics

  Specific Porsche Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Porsche Cayman 2dr	183	40	99	36

  BETTER

  AVERAGE

  WORSE

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

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.

By 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.

• Insurance Strategies – The Cooksey Agency
  780 Lynnhaven Pkwy #400 – Virginia Beach, VA 23452 – (757) 819-6896 – View Map
• Nationwide Insurance: Avery Insurance Agency Inc
  5268 Fairfield Shopping Centre – Virginia Beach, VA 23464 – (757) 366-0366 – View Map
• Hampton Roads Insurance
  633-D Independence Blvd – Virginia Beach, VA 23462 – (757) 285-4754 – View Map

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.

• Bill Wright – State Farm Insurance Agent
  4316 Virginia Beach Blvd – Virginia Beach, VA 23452 – (757) 486-4000 – View Map
• Sharon Lynch – State Farm Insurance Agent
  3617 Dam Neck Rd – Virginia Beach, VA 23453 – (757) 430-9000 – View Map
• State Farm: Pierre Granger
  5705 Lynnhaven Pkwy – Virginia Beach, VA 23464 – (757) 962-2266 – View Map

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:

• Do they reduce claim amounts on high mileage vehicles?
• Are they in the agency full-time?
• Do you work with a CSR or direct with the agent?
• Are you getting all the discounts the company offers?
• Do they have 24-hour customer assistance?
• Which companies do they recommend if they are an independent agency?
• Is their price quote a firm figure or are their hidden costs?
• Is the agency covered by Errors and Omissions coverage?

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.

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

• Do I really need UM/UIM coverage?
• Should I pay a claim out-of-pocket?
• When should I not buy collision coverage?
• Does my liability insurance cover pulling a trailer or camper?
• If I drive on a suspended license am I covered?
• Am I covered if I drive in a foreign country?
• How high should deductibles be on a Porsche Cayman?
• Who sells insurance for high-risk drivers?
• Can my babysitter drive my car?
• Why am I required to get a high-risk car insurance policy?

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:

• Anti-Lock Brake FAQ (iihs.org)
• Who Has Cheap Car Insurance Quotes for State Employees in Virginia Beach? (FAQ)
• Who Has Cheap Car Insurance Quotes for a Hyundai Elantra in Virginia Beach? (FAQ)
• Who Has the Cheapest Virginia Beach Car Insurance Rates for Immigrants? (FAQ)
• Collision Insurance Coverage (Nationwide)
• New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)