How to Save on Chandler Porsche 911 Insurance

The best way we recommend to find low-cost auto insurance rates is to make a habit of comparing prices annually from insurance carriers who can sell car insurance in Chandler.

• Step 1: Gain an understanding of how car insurance works and the things you can control to keep rates low. Many rating factors that result in higher rates like distracted driving and a negative credit rating can be amended by paying attention to minor details. Later in this article we will cover tips to help find cheaper rates and find overlooked discounts.
• Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from a single company like Progressive or Farmers Insurance, while agents who are independent can give you price quotes from multiple companies.
• Step 3: Compare the new quotes to the price on your current policy and determine if cheaper 911 coverage is available. If you can save money and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
• Step 4: Give notification to your current company of your intention to cancel your existing policy. Submit payment and a completed application for your new coverage. Once coverage is bound, store the certificate verifying proof of insurance somewhere easily accessible.

The most important part of this process is that you’ll want to make sure you compare the same physical damage deductibles and liability limits on each price quote and and to get price quotes from as many auto insurance providers as possible. This provides an accurate price comparison and a complete selection of prices.

Sad but true, the majority of drivers kept buying from the same company for well over three years, and nearly the majority have never quoted insurance rates at all. Drivers in the U.S. could save about $859 each year just by getting comparison quotes, but they don’t want to spend time to compare rates.

When comparing insurance rates, know that getting more free quotes will enable you to find more affordable rates.

The companies shown below offer price comparisons in Chandler, AZ. If multiple companies are listed, we recommend you compare several of them to get the best price comparison.

Statistics and details

The premium table shown next highlights different coverage prices for Porsche 911 models. Learning as much as possible about how insurance premiums are calculated can assist in making informed decisions when comparing rate quotes.

Prices above based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Arizona minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Table data does not factor in zip code location which can raise or lower auto insurance rates noticeably.

Where to set your deductibles

One common question asked by Chandler drivers is where should you set your physical damage deductibles. The rates shown below help summarize the premium difference when you select higher and lower policy deductibles. The first price estimate table uses a $100 deductible for comp and collision and the second rate table uses a $500 deductible.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Arizona minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Rate quotes do not factor in specific location which can raise or lower rates noticeably.

Based on the data above, we can derive that using a $100 deductible will cost you about $38 more each month or $456 a year than buying the higher $500 deductible. Since the policyholder would be required to pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you tend to average at least 11 months between claims, you would come out ahead if you elect the higher deductible. The table below shows a better example of how this determination is made.

One important note is that a higher deductible level results in a higher out-of-pocket expense when you have to file a claim. You should have access to more funds in the event you have to pay the higher deductible.

Full coverage or liability only

The information below illustrates the comparison of Porsche 911 car insurance rates with full coverage and liability only. The data is based on a clean driving record, no at-fault accidents, $1,000 deductibles, drivers are single, and no additional discounts are factored in.

When to buy liability coverage only

There is no exact formula that is best for determining when to drop comprehensive and collision coverage on your policy, but there is a general convention. If the yearly cost of full coverage is 10% or more of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.

For example, let’s assume your Porsche 911 replacement value is $6,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company would pay you is $5,000 after the policy deductible has been paid. If you are currently paying more than $500 annually for comprehensive and collision coverage, then you might want to consider buying only liability coverage.

There are a few situations where dropping physical damage coverage is not a good plan. If you still owe money on your vehicle, you must maintain physical damage 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 event your current vehicle is totaled, you should keep full coverage.

Informed Drivers Can Cut Their Insurance Premiums

Lots of things are taken into consideration when quoting car insurance. Some are pretty understandable such as traffic violations, but some are more transparent such as your credit history or how financially stable you are. One of the most helpful ways to save on insurance is to to have a grasp of some of the elements that help determine insurance rates. If you understand what influences your rates, this helps enable you to make changes that can help you get lower premium levels.

Do you have a stressful employer? – Did you know that where you work can have an impact on rates? Careers like military personnel, business owners, and financial analysts tend to pay higher rates than the rest of us in part from stressful work requirements and lengthy work days. Conversely, professions such as scientists, historians and homemakers have the lowest average rates.

Discounts for theft deterrents – Buying a car that has a built-in theft deterrent system can earn a premium discount. Advanced theft deterrents such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help stop car theft and help bring rates down.

Tickets can increase costs – Your driving record impacts your car insurance rates tremendously. Just one speeding ticket or other violation could increase your next policy renewal by as much as twenty percent. Drivers with clean records pay lower auto insurance prices than bad drivers. People who have flagrant violations such as hit and run, DWI or reckless driving convictions may face state-mandated requirements to prove financial responsibility with their state’s licensing department in order to legally drive.

The information below shows how violations and accidents can drive up Porsche 911 yearly insurance costs for different ages of insureds. The prices are based on a single female driver, comp and collision included, $1,000 deductibles, and no other discounts are factored in.

Gender as a rate factor – Over the last 30 years, statistics show women are more cautious behind the wheel. The data does not necessarily mean that females are better drivers. Both genders have accidents at a similar rate, but the males tend to have more serious accidents. Men also tend to get cited for more serious violations such as reckless driving. Young men ages 16 to 20 cause the most accidents and thus pay the highest rates.

The chart below shows the comparison of Porsche 911 insurance rates for male and female drivers. The prices are based on no claims or driving citations, full physical damage coverage, $500 deductibles, marital status is single, and no discounts are factored in.

Safer occupants lowers rates – Vehicles with good safety scores can get you lower premiums. Safe vehicles result in less severe injuries and any reduction in injury severity translates into savings for insurance companies and thus lower rates.

Poor credit decisions can cost you – Your credit history factor in determining what you pay for insurance. People with very good credit scores tend to be less risk to insure than drivers with poor credit. Therefore, if your credit is lower than you’d like, you could be paying less to insure your Porsche 911 if you improve your credit rating.

Performance impacts premiums – The performance level of the car, truck or SUV you need to insure makes a big difference in your premium level. Smaller low performance passenger models generally receive the lowest base rates, but other factors influence the final cost greatly.

The data below uses these assumptions: married male driver age 50, full coverage with $250 deductibles, and no discounts or violations. It illustrates Porsche 911 insurance rates compared to other vehicles that have a range of performance risks.

Extra policy coverages can cost a lot – Insurance policies have a lot of extra bells and whistles that can add up on your 911 policy. Coverage for things like rental car reimbursement, towing coverage, and Farm Bureau memberships may be wasting your money. They may seem like a good idea when you first buy your policy, but if you don’t need them think about removing them and cutting costs.

Porsche 911 insurance loss statistics – Insurance companies take into consideration insurance loss statistics for every vehicle to determine a price that will be profitable for them. Vehicles that tend to have a higher amount or frequency of claims will have increased rates.

The next table illustrates the loss history for Porsche 911 vehicles. For each policy coverage type, the claim probability for all vehicles as a whole is set at 100. Numbers below 100 mean the vehicle has better than average losses, while values over 100 point to more losses or statistically larger losses.

Why you need to buy auto insurance

Despite the high cost, insuring your vehicle is required by state law in Arizona and it also provides benefits you may not be aware of.

• Most states have minimum mandated liability insurance limits which means state laws require specific limits of liability coverage in order to drive the car legally. In Arizona these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
• If you have a lien on your vehicle, more than likely the lender will require that you carry insurance to ensure the loan is repaid in case of a total loss. If you default on your policy, the lender may have to buy a policy to insure your Porsche at a much higher rate and force you to pay the higher price.
• Auto insurance protects your car and your assets. Insurance will pay for many types of medical costs for you, any passengers, and anyone injured in an accident. One policy coverage, liability insurance, also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will cover the damage repairs after a deductible is paid.

The benefits of carrying enough insurance are without a doubt worth the cost, especially with large liability claims. Despite what companies tell you, the average driver is overpaying more than $820 a year so compare quotes from several companies each time the policy renews to help ensure money is not being wasted.