Porsche Boxster Insurance Quotes in Albuquerque

Want to know an easy way to compare the cheapest car insurance rates in Albuquerque, NM? Albuquerque buyers have options when searching for the lowest priced Porsche Boxster insurance. You can either spend your time struggling with agents trying to get quotes or leverage the internet to find the lowest rates.

There is a right way and a wrong way to find car insurance online so we’re going to tell you the best way to price shop coverage for your Porsche and get the lowest possible price.

It’s easy to assume that auto insurance companies don’t want you to look at other companies. Consumers who get price quotes annually will probably buy a different policy because of the high probability of finding a more affordable policy premium. A study discovered that people who did price comparisons regularly saved about $3,500 over four years compared to people who never shopped around for cheaper prices.

If saving the most money on car insurance is the reason you’re reading this, then having a good understanding the best way to compare coverage rates can make it simple to find affordable coverage.

It’s a good habit to compare prices periodically because car insurance prices tend to go up over time. Just because you found the best quotes on Porsche Boxster insurance in Albuquerque at your last renewal you can probably find a better rate now. Ignore everything you know about car insurance because it’s time to teach you how to quote online to save on car insurance.

Cutting your Albuquerque car insurance rates is surprisingly easy. Just take the time comparing price quotes online with multiple companies.

The companies in the list below have been selected to offer free quotes in Albuquerque, NM. To buy cheap auto insurance in Albuquerque, NM, we suggest you get prices from several of them to find the cheapest car insurance rates.

It may be expensive, but it’s not optional

Even though it’s not necessarily cheap to insure a Porsche in Albuquerque, paying for insurance serves an important purpose.

• Just about all states have minimum liability requirements which means you are required to carry specific limits of liability in order to get the vehicle licensed. In New Mexico these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
• If your vehicle has a loan, almost every bank will force you to carry insurance to ensure they get paid if you total the vehicle. If you let the policy lapse, the bank or lender will purchase a policy for your Porsche for a much higher rate and require you to fork over for the much more expensive policy.
• Insurance safeguards not only your Porsche Boxster but also your financial assets. It will also provide coverage for many types of medical costs for you, any passengers, and anyone injured in an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, your insurance policy will pay to have it repaired.

The benefits of insuring your car more than offset the price you pay, especially when you need to use it. Today the average American driver overpays more than $865 each year so compare rates once a year at a minimum to ensure rates are inline.

Porsche Boxster detailed coverage information

The rate information displayed below covers a range of insurance costs for Porsche Boxster models. Being aware of how insurance premiums are established is important to be able to make decisions when choosing a new policy provider.

Premium data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Premium costs do not factor in specific zip code location which can modify premium rates significantly.

Policy deductible comparison

A question often asked by Albuquerque drivers is where should you set your physical damage deductibles. The tables below may help to conceptualize how much more rates are when you choose different policy deductibles. The first set of prices uses a $100 deductible for comp and collision and the second pricing table uses a $500 deductible.

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Premium amounts do not factor in zip code location which can change auto insurance rates considerably.

We can estimate from the data above that using a $100 deductible will cost in the ballpark of $30 more each month or $360 a year averaged for all Boxster models than choosing the higher $500 deductible. Because you would pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you tend to have more than 13 months between claims, you would most likely save money by going with a higher deductible. The table below shows the way you can decide this on your own policy.

An important sidenote is that raising deductibles to save money results in more money out-of-pocket when you have to file a claim. You must have a higher level of savings in the event you have to pay more to get your vehicle repaired.

The chart below illustrates how choosing a deductible and can raise or lower Porsche Boxster insurance premiums for different ages of insureds. The costs are based on a married female driver, full coverage, and no discounts are taken into consideration.

Difference between liability only and full coverage rates

The chart below illustrates the difference between Porsche Boxster auto insurance rates when comparing full coverage to liability only. The prices are based on no claims or violations, $1,000 deductibles, marital status is single, and no discounts are applied.

When to switch to liability coverage only

There is no definitive guideline to drop full coverage, but there is a general convention. If the yearly cost of full coverage is more than about 10% of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.

For example, let’s assume your Porsche Boxster replacement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $2,000 after the policy deductible has been paid. If you are paying more than $200 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.

There are a few situations where dropping full coverage is not financially feasible. If you still owe a portion of the original loan, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should keep full coverage on your policy.

Car insurance policy discounts you can’t miss

Insuring your vehicles can cost a lot, but you may be missing some discounts to cut the cost considerably. Certain credits will be shown at quote time, but occasionally some discounts must be requested specifically prior to getting the savings.

• Full Payment Discount – By paying your policy upfront instead of monthly or quarterly installments you could save 5% or more.
• Anti-lock Brakes – Cars and trucks with ABS braking systems or traction control are much safer to drive so companies give up to a 10% discount.
• Home Ownership Discount – Being a homeowner can earn you a little savings because maintaining a house is proof of financial responsibility.
• Memberships – Belonging to specific professional or occupational memberships or organizations could qualify you for a break when shopping for car insurance.
• Active Service Discounts – Being on active duty in the military may lower your rates slightly.

While discounts sound great, it’s important to understand that most of the big mark downs will not be given to all coverage premiums. The majority will only reduce the price of certain insurance coverages like liability, collision or medical payments. Just because you may think all the discounts add up to a free policy, company stockholders wouldn’t be very happy.

The chart below illustrates the comparison of Porsche Boxster annual premium costs with and without discounts applied to the premium. Data assumes a male driver, no accidents, no driving violations, New Mexico state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, multi-policy, claim-free, homeowner, and multi-car discounts applied.

A few popular companies and a partial list of their discounts are:

• Progressive offers premium reductions for online signing, multi-vehicle, online quote discount, multi-policy, continuous coverage, homeowner, and good student.
• The Hartford may include discounts for good student, air bag, defensive driver, driver training, anti-theft, bundle, and vehicle fuel type.
• Mercury Insurance offers discounts for good driver, anti-theft, ease of repair, age of vehicle, accident-free, low natural disaster claims, and location of vehicle.
• GEICO has discounts for anti-lock brakes, federal employee, multi-policy, anti-theft, daytime running lights, and five-year accident-free.
• AAA includes discounts for good student, education and occupation, anti-theft, pay-in-full, AAA membership discount, and multi-car.
• State Farm discounts include anti-theft, student away at school, good driver, passive restraint, safe vehicle, Drive Safe & Save, and Steer Clear safe driver discount.

When quoting, ask all companies you are considering how many discounts you can get. A few discounts may not be offered in Albuquerque. For a list of insurance companies who offer discounts in Albuquerque, click here.