Locating cheaper insurance for a new or used Porsche Cayman in New Mexico can normally be difficult, but you can learn the following methods to make it easier. There are more efficient ways to compare auto insurance rates so you’re going to learn the quickest way to quote coverages on a Porsche and locate the lowest possible price from both online companies and Albuquerque agents.
It’s safe to conclude that auto insurance companies don’t want you to look for a cheaper policy. Insureds who do rate comparisons will probably move their business because they stand a good chance of finding a lower-cost company. A study discovered that consumers who faithfully checked for cheaper rates saved as much as $72 a month as compared to drivers who never compared other company’s rates.
If finding budget-friendly rates on Porsche Cayman insurance in Albuquerque is your ultimate goal, then having some knowledge of how to shop and compare insurance rates can make it easier to shop your coverage around.
The most recommended method to compare policy rates for Porsche Cayman insurance in Albuquerque is to know the fact all the major auto insurance companies pay for the opportunity to provide you with free rate quotes. To start a quote, the only thing you need to do is provide details like how much you drive, which vehicles you own, if you are currently licensed, and your credit rating estimate. That rating data gets transmitted to multiple different insurance companies and they return rate quotes very quickly.
To compare rates for your Porsche Cayman now, click here and enter your zip code.
The following companies provide comparison quotes in New Mexico. If multiple companies are listed, we suggest you visit several of them to get the best price comparison.
Auto insurance discounts help lower rates for Porsche Cayman insurance in Albuquerque
Companies offering auto insurance don’t always advertise all possible discounts in an easy-to-find place, so we break down some of the best known as well as some of the hidden credits available to you.
- Defensive Driver Discount – Participating in a defensive driving course could save 5% or more and make you a better driver.
- Paperless Signup – A few companies will give you a small discount shop Albuquerque auto insurance on the internet.
- Good Student Discount – Performing well in school can be rewarded with saving of up to 25%. Many companies even apply the discount to college students up to age 25.
- More Vehicles More Savings – Having multiple cars or trucks on a single policy could earn a price break for each car.
- Anti-theft System – Anti-theft and alarm system equipped vehicles are less likely to be stolen and therefore earn up to a 10% discount.
- Telematics Data – Insureds who allow their insurance company to study when and where they use their vehicle by using a telematics device in their vehicle such as Allstate’s Drivewise and State Farm’s In-Drive system might see lower rates if they have good driving habits.
- Senior Citizens – If you’re over the age of 55, you may be able to get lower premium rates.
- Professional Memberships – Affiliation with qualifying employment or professional organizations is a good way to get lower rates when getting a Albuquerque auto insurance quote.
Discounts lower rates, but most discount credits are not given to your bottom line cost. Most only apply to the cost of specific coverages such as comp or med pay. So even though it sounds like you can get free auto insurance, it just doesn’t work that way. But all discounts will definitely lower your policy cost.
The diagram below visualizes the comparison of Porsche Cayman insurance costs with and without discounts. The information is based on a male driver, no claims or violations, New Mexico state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-policy, homeowner, multi-car, safe-driver, and claim-free discounts applied.
A list of companies and a selection of discounts can be found below.
- Esurance includes discounts for DriveSense, paid-in-full, renters, good driver, defensive driver, multi-policy, and Pac-12 alumni.
- The Hartford offers premium reductions for anti-theft, defensive driver, bundle, driver training, good student, and air bag.
- AAA may include discounts for pay-in-full, anti-theft, education and occupation, good student, AAA membership discount, and multi-car.
- GEICO may have discounts that include emergency military deployment, daytime running lights, seat belt use, driver training, anti-theft, anti-lock brakes, and military active duty.
- State Farm offers discounts for accident-free, good student, anti-theft, safe vehicle, good driver, student away at school, and Drive Safe & Save.
Before buying, ask all the companies which discounts they offer. Some discounts listed above might not be offered on policies in your area.
Rates and data analysis
The rate information displayed below showcases detailed analysis of insurance costs for Porsche Cayman models. Having insight into how insurance quotes are established can be of help when making smart choices when purchasing an insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cayman 2-Dr Coupe||$218||$442||$310||$18||$92||$1,080||$90|
|Cayman S 2-Dr Coupe||$218||$492||$310||$18||$92||$1,130||$94|
|Get Your Own Custom Quote Go|
Price data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Rate quotes do not factor in vehicle garaging location which can affect coverage rates significantly.
How Your Cayman Insurance Rates are Determined
Consumers need to have an understanding of the different types of things that are used to determine the level of your policy premiums. If you understand what determines premiums, this helps enable you to make changes that can help you get cheaper rates. Many things are considered when you quote your car insurance policy. Some factors are common sense such as traffic violations, although others are not as apparent such as your credit history and annual miles driven.
Shown below are some of the things that factor into your rate level.
Gender and auto insurance premiums – Statistics have proven that women are safer drivers than men. Now that doesn’t mean females are better at driving than males. Men and women cause fender benders in similar percentages, but the males have costlier accidents. Not only are claims higher, but men have more aggressive citations such as DWI and reckless driving.
The chart below shows the difference between Porsche Cayman yearly insurance costs for male and female drivers. The premium estimates are based on no driving violations, no at-fault accidents, full physical damage coverage, $1,000 deductibles, single marital status, and no other discounts are factored in.
Costs are impacted by vehicle performance – The performance level of the car you own makes a huge difference in your rates. The cheapest insurance rates will normally be found when insuring smaller low performance passenger vehicles, but your final cost has many other factors.
The data below uses these variables: single male driver age 40, full coverage with $500 deductibles, and no discounts or violations. It compares Porsche Cayman insurance premiums compared to other makes and models that have a range of performances.
Multiple policies with one company – Some companies provide discounts to insureds that buy multiple policies in the form of a multi-policy discount. Even if you’re getting this discount drivers will still want to compare other company rates to guarantee you are still saving the most.
High premiums for younger drivers – Mature drivers have been proven to be more responsible, file fewer claims, and are safer drivers. Teenage drivers are known to be more careless with other occupants in the car so car insurance rates are higher.
The following data assumes a single driver, full coverage with $500 deductibles, and no discounts or violations.
Drive less and save – The more miles you rack up on your Porsche every year the more it will cost to insure it. Most companies calculate prices based upon how much you drive. Autos that have low annual miles receive lower rates than vehicles that have high annual mileage. It’s a smart idea to ensure your car insurance policy properly reflects the correct usage for each vehicle, because improper ratings can cost you money. Having an incorrect usage rating on your Cayman is throwing money out the window.
Porsche Cayman claim statistics – Insurers study historical loss data when they set coverage costs for each model. Models that historically have higher claim frequency or loss amount will have increased rates. The data below shows the insurance loss data for Porsche Cayman vehicles.
For each insurance policy coverage type, the loss probability for all vehicles, regardless of make or model, is set at 100. Numbers that are below 100 are indicative of better than average losses, while numbers shown that are more than 100 point to more claims or a tendency for claims to be larger.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Porsche Cayman 2dr||183||40||99||36|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years