Searching for better insurance prices for your Porsche Cayman in Indiana could be a painful process, but you can learn a few tricks to save time.
There are more efficient ways to shop for car insurance so we're going to tell you the absolute fastest way to get price quotes for a new or used Porsche and find the best price possible from both online companies and Evansville agents.
You should take the time to price shop coverage periodically because car insurance rates change regularly. If you had the best premium rates on Porsche Cayman insurance in Evansville at your last renewal other companies may now be cheaper. There is a lot of bad information regarding Cayman insurance out there, but in this article, you're going to get some of the best ways to slash your car insurance rates in Evansville.
The providers in the list below have been selected to offer quotes in Indiana. If multiple companies are listed, we suggest you get rates from several of them in order to find the most competitive rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cayman 2-Dr Coupe||$232||$466||$264||$16||$80||$1,058||$88|
|Cayman S 2-Dr Coupe||$188||$420||$264||$16||$80||$968||$81|
|Get Your Own Custom Quote Go|
Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Price information does not factor in specific garaging location which can impact premium rates greatly.
Higher deductibles lower rates
The chart below illustrates how choosing a deductible and can affect Porsche Cayman premium costs for different age groups. The information is based on a married female driver, comprehensive and collision coverage, and no discounts are factored in.
Rate difference between full and liability-only coverage
The chart below examines Porsche Cayman annual premium costs with full coverage compared to only the Indiana minimum liability coverage. The rate quotes are based on no claims or violations, $500 deductibles, single male driver, and no discounts are factored in.
Are you wasting money paying for full coverage?
There isn't a written rule of when to exclude physical damage coverage, but there is a broad guideline. If the annual cost of your full coverage insurance is 10% or more of the settlement you would receive from your company, then you might want to consider buying only liability coverage.
For example, let's assume your Porsche Cayman replacement cost is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $4,000 after you pay the deductible. If you are paying over $400 a year for physical damage coverage, then it might be time to buy liability only.
There are a few situations where dropping physical damage coverage is not recommended. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not opt for liability only.
Why you need insurance for your Porsche Cayman
Despite the fact that car insurance is not cheap in Evansville, insurance is not optional due to several reasons.
First, most states have compulsory liability insurance requirements which means you are required to buy a specific minimum amount of liability in order to be legal. In Indiana 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.
Second, if your vehicle has a lienholder, most lenders will make it mandatory that you buy full coverage to ensure they get paid if you total the vehicle. If you do not pay your insurance premiums, the bank may buy a policy for your Porsche at a much higher premium rate and force you to pay for the much more expensive policy.
Third, insurance protects both your Porsche and your personal assets. It will also cover hospital and medical expenses for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will cover the damage repairs after a deductible is paid.
The benefits of insuring your car are definitely more than the cost, especially if you ever need it. Despite what companies tell you, the average driver is overpaying more than $865 each year so compare rate quotes every year to ensure rates are competitive.
Evansville Insurance Premiums are Influenced by These Factors
A large part of saving on car insurance is knowing the factors that come into play when calculating the rates you pay for car insurance. If you have some idea of what impacts premium levels, this enables you to make decisions that will entitle you to big savings. Lots of things are part of the calculation when you quote your car insurance policy. A few of the factors are predictable like your driving record, although some other factors are less apparent such as whether you are married or how safe your car is.
Type of car determines base prices - The type of car you drive makes a significant difference in your car insurance bill. The lowest premiums will generally be found on the lowest performance passenger cars, but that's not the only thing that factors into the final price. Since the Porsche Cayman falls in the luxury sports car class, rates will be up to twice as much when compared to the average rates in Evansville.
Discounts for alarm systems - Owning a car that has an advanced theft prevention system can help bring down rates. Theft prevention devices such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder vehicle theft.
Lower car insurance rates with continuous coverage - Having an insurance coverage lapse is a fast way to increase your rates. And not only will your rates increase, not being able to provide proof of insurance will get you a license revocation or jail time.
Pay lower costs after the wedding - Having a wife or husband actually saves money on your car insurance bill. Marriage means you're more mature than a single person and it's proven that married drivers get in fewer accidents.
Guys pay higher rates - Over time, data shows females are less aggressive when driving. Now that doesn't mean males are worse at driving than females. Females and males get in accidents in similar percentages, but men have costlier accidents. Men also tend to have more aggressive citations like DUI and reckless driving. Young males generally have the highest accident percentage and therefore are the most expensive to insure.
Premiums are affected by your credit rating - Having a bad credit score is likely to be a major factor in determining what you pay. If your credit leaves room for improvement, you could potentially save money when insuring your Porsche Cayman by improving your credit score. People that have very high credit ratings tend to be more responsible and file fewer claims than drivers with lower credit ratings.
Extra policy coverages that may not be needed - There are many optional add-on coverages that you can get tricked into buying on your Cayman policy. Things like coverage for rental cars, towing coverage, and additional equipment coverage may be wasting your money. These may sound like a good investment when you first buy your policy, but if you don't need them get rid of them and save.
Porsche Cayman insurance loss data - Insurance companies take into consideration historical loss data for every vehicle when they set coverage costs for each model. Models that historically have a higher amount or frequency of claims will have a higher cost to insure.
The table below outlines the historical insurance loss data for Porsche Cayman vehicles. For each coverage type, the claim probability for all vehicles compiled together equals 100. Values that are under 100 indicate a favorable loss history, while numbers shown that are more than 100 indicate more frequent claims or an increased chance of larger losses than average.
Porsche Cayman Insurance Claim Statistics
|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
Evansville insurance discounts for a Porsche Cayman
Auto insurance is not an enjoyable expense, but you may qualify for discounts to cut the cost considerably. Certain reductions will be credited when you get a quote, but some discounts are required to be specially asked for before they will apply.
- Discount for New Cars - Adding a new car to your policy is cheaper because newer vehicles keep occupants safer.
- Organization Discounts - Being in certain professional organizations is a simple method to lower premiums on auto insurance.
- Driver Safety - Passing a course in safe driver is a good idea and can lower rates depending on where you live.
- More Vehicles More Savings - Insuring multiple cars or trucks on the same auto insurance policy can get a discount on all vehicles.
- Seat Belts Save - Forcing all vehicle occupants to buckle their seat belts can save up to 15% off the PIP or medical payment premium.
- Theft Deterrent System - Cars, trucks, and SUVs that have factory anti-theft systems prevent vehicle theft so companies will give you a small discount.
- Discount for Home Ownership - Just being a homeowner may trigger a policy discount on auto insurance because it means you have a higher level of financial diligence.
- Good Student - Being a good student could provide a savings of up to 20% or more. Many companies even apply the discount to college students until age 25.
- Waiver for an Accident - This isn't a discount exactly, but a few companies such as Allstate and State Farm permit an accident before hitting you with a surcharge if you are claim-free before the accident.
Discounts reduce rates, but you should keep in mind that most credits do not apply to your bottom line cost. Most only cut specific coverage prices like physical damage coverage or medical payments. So even though you would think you could get a free auto insurance policy, companies wouldn't make money that way.
Popular auto insurance companies and a summarized list of policyholder discounts are outlined below.
- Farmers Insurance policyholders can earn discounts including youthful driver, homeowner, good student, alternative fuel, business and professional, and pay in full.
- Esurance has savings for claim free, paid-in-full, defensive driver, anti-lock brakes, emergency road assistance, and Switch & Save.
- State Farm offers discounts including accident-free, multiple policy, Steer Clear safe driver discount, student away at school, and good driver.
- GEICO offers premium reductions for anti-theft, anti-lock brakes, multi-policy, multi-vehicle, daytime running lights, and military active duty.
- Allstate offers discounts for eSmart discount, premier plus, senior citizen, utility vehicle, multi-policy, good student, and EZ pay plan discount.
When comparing rates, check with every company how you can save money. Some of the earlier mentioned discounts may not apply to policyholders everywhere. To view companies with discount auto insurance rates in Evansville, click here to view.
What insurance coverages do I need?
When it comes to buying coverage for your personal vehicles, there really isn't a one size fits all plan. Coverage needs to be tailored to your specific needs so your insurance needs to address that. For example, these questions might point out whether you could use an agent's help.
- Is my Porsche Cayman covered for smoke damage?
- When should I remove my kid from my policy?
- Does my medical payments coverage pay my health insurance deductible?
- Am I covered when driving a rental car?
- Is my nanny covered when transporting my kids?
- What does medical payments coverage do?
- Is business property covered if stolen from my car?
- Does every company file a SR-22 automatically?
- Are there companies who specialize in insuring high-risk drivers?
If you're not sure about those questions but one or more may apply to you, you may need to chat with a licensed agent. To find an agent in your area, fill out this quick form or you can also visit this page to select a carrier It is quick, free and can help protect your family.
Local Evansville car insurance agents and car insurance
Some people would prefer to get advice from a local agent and there is nothing wrong with that. Experienced insurance agents are highly skilled in risk management and help file insurance claims. A nice benefit of comparing rate quotes online is the fact that you can find cheap rate quotes and still have an agent to talk to. Putting coverage with local agencies is especially important in Evansville.
After filling out this form (opens in new window), the coverage information is emailed to companies in Evansville that can provide free Evansville car insurance quotes for your coverage. It's much easier because you don't need to leave your house due to the fact that quote results will go to the email address you provide. If for some reason you want to get a price quote from one company in particular, feel free to go to their quote page and fill out the quote form the provide.
Exclusive agents vs. Independent agents
If you are wanting to purchase car insurance from a local Evansville insurance agency, you need to know there are two different types of agents to choose from. Evansville agents can either be independent agents or exclusive agents depending on their employer. Both do a good job, but it's important to point out how they differ because it can factor into the kind of agent you use.
Independent Car Insurance Agents
Independent agents do not work for one specific company so they can insure your vehicles with multiple insurance companies depending on which coverage is best. To move your coverage to a new company, your agent can just switch to a different company which is easy for the insured.
If you are comparing car insurance prices, you definitely need to compare prices from at least one independent agent to get the best comparison. They also have the ability to place coverage with lesser-known insurance companies which can save you money.
Featured below is a short list of independent insurance agents in Evansville that may be able to provide price quotes.
- AssuredPartners NL
120 N Fulton Ave a - Evansville, IN 47710 - (812) 485-2800 - View Map
- Crosspointe Insurance Advisors
401 SE 6th St #106 - Evansville, IN 47708 - (888) 788-1565 - View Map
- Lancaster Insurance Agency
658 S Green River Rd - Evansville, IN 47715 - (812) 477-8883 - View Map
Exclusive agents write business for a single company and examples are State Farm or Allstate. Exclusive agencies are unable to provide prices from multiple companies so you need to shop around if the rates are high. These agents are usually quite knowledgeable on what they offer and that can be a competitive advantage. Some consumers prefer to choose to use an exclusive agent mainly due to loyalty to the company and the convenience of having a single billing for all their coverages.
Listed below is a short list of exclusive insurance agents in Evansville willing to provide rate quotes.
- State Farm: Paul Watzlavik
8688 Ruffian Ln - Newburgh, IN 47630 - (812) 422-1195 - View Map
- Farmers Insurance - Robert Sheffer
1343 Tutor Ln b - Evansville, IN 47715 - (812) 437-4772 - View Map
- Felicia Chisholm - State Farm Insurance Agent
1211 Tutor Ln Ste F - Evansville, IN 47715 - (812) 471-3276 - View Map
Deciding on a car insurance agent should depend on more than just the price. Agents should be asked these questions:
- Do they get extra compensation for selling add-on coverages?
- Where would glass claims be handled in Evansville?
- Are claim adjusters local or do you have to take your car somewhere else?
- Which company do they place the most coverage with?
- What insurance companies do they recommend if they are an independent agent?
If you receive positive feedback to any questions you may have as well as offering an affordable quote, you may have just found an insurance agent that is a good match to properly insure your vehicles. Just be aware that policyholders can cancel your policy for any reason so don't think that you are obligated to any specific agency for any length of time.
One last note
Discount Porsche Cayman insurance in Evansville can be purchased on the web as well as from independent agents in Evansville, and you should compare rates from both so you have a total pricing picture. Some insurance companies do not offer rates over the internet and many times these regional carriers only sell through independent insurance agents.
As you prepare to switch companies, it's very important that you do not reduce coverage to reduce premium. In too many instances, someone sacrificed collision coverage only to regret that a couple dollars of savings turned into a financial nightmare. Your strategy should be to buy the best coverage you can find at an affordable rate.
We just covered a lot of techniques to lower your Porsche Cayman insurance premium rates in Evansville. The key concept to understand is the more quotes you get, the better likelihood of getting affordable Evansville car insurance quotes. Consumers may even find the most savings is with a company that doesn't do a lot of advertising. These smaller insurers may often insure only within specific states and give getter rates than the large multi-state companies such as Allstate or State Farm.
Additional information can be found at these links:
- Event Data Recorders FAQ (iihs.org)
- What Insurance is Cheapest for a Chevrolet Equinox in Indiana? (FAQ)
- What Auto Insurance is Cheapest for Unemployed Drivers in Indiana? (FAQ)
- Who Has Affordable Indiana Car Insurance Rates for Government Employees? (FAQ)
- Who Has Affordable Auto Insurance for a 20 Year Old Female in Indiana? (FAQ)
- Who Has the Cheapest Indiana Auto Insurance Rates for 4x4 Vehicles? (FAQ)
- Who Has Affordable Indiana Auto Insurance Rates for Immigrants? (FAQ)
- Who Has the Cheapest Indiana Auto Insurance for College Students? (FAQ)
- Who Has Affordable Indiana Car Insurance Rates for Teenage Males? (FAQ)
- What Car Insurance is Cheapest for Drivers with a DUI in Indiana? (FAQ)
- What is the Cheapest Auto Insurance in Carmel, Indiana? (FAQ)
- What Car Insurance is Cheapest for High Risk Drivers in Indiana? (FAQ)
- Tread Depth and Tire Safety (State Farm)
- Five Mistakes to Avoid (Insurance Information Institute)