Cheapest 2014 Porsche Cayman Insurance Rates in 2023
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UPDATED: May 12, 2022
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Consumers not familiar with comparing rates online can find finding affordable insurance coverage nearly impossible.
Insurance Prices Online
To find the best insurance prices, there are several ways of comparing rates from different insurance companies. The easiest way by far to find competitive 2014 Porsche Cayman insurance rates consists of shopping online. This can be done in several different ways.
- The easiest and least time consuming way to find low rates is an all-inclusive rate comparison click here to open form in new window. This form keeps you from doing separate quotation requests for every insurance company. One simple form will get you price quotes from multiple low-cost companies. Recommended for those who want to invest the least amount of time.
- A more time consuming way to shop for insurance online requires a trip to the website for every company you want to comare to complete a price quote. For examples sake, let’s say you want comparison quotes from Nationwide, GEICO and State Farm. To get rate quotes you would need to visit each site to enter your coverage information, which is why most consumers use the first method.
For a handy list of car insurance company links in your area, click here.
Whichever method you choose, compare identical coverage limits for each comparison quote. If your comparisons have differing limits you can’t possibly decipher which rate is best. Quoting even small variations in insurance coverages may cause a big price difference. And when quoting insurance, remember that more quotes will improve the odds of getting the best rates.
Porsche Cayman insurance premiums are calculated by many factors
An important part of buying insurance is that you know the different types of things that help determine your auto insurance rates. Knowing what controls the rates you pay enables informed choices that may reward you with much lower annual insurance costs.
The following are a few of the “ingredients” auto insurance companies consider when setting rates.
- Men pay higher rates – The statistics show women tend to be less risk to insure than men. However, don’t assume that men are WORSE drivers than women. Men and women are in accidents in similar percentages, but men cause more damage and cost insurance companies more money. Men also have more aggressive citations like DUI and reckless driving.
- Your location affects your rates – Residing in a small town can be a good thing when talking about auto insurance. Fewer drivers means a lower chance of having an accident and a lower car theft rate. City drivers have much more traffic to deal with and longer commutes to work. More time commuting means more change of being in an accident.
- Your age impacts your rates – More mature drivers are more responsible, tend to file fewer claims and tend to be better behind the wheel. Teenage drivers tend to be more careless when driving therefore auto insurance rates are much higher.
- Occupation reflects on rates – Did you know your occupation can influence how much you pay for auto insurance? Jobs such as judges, business owners and accountants tend to pay higher rates than average attributed to stressful work requirements and long work days. On the flip side, occupations such as scientists, athletes and performers have the lowest average rates on Cayman insurance.
- Protect your assets with liability insurance – The liability section of your policy is the protection if you are found liable for damages caused by your negligence. Liability insurance provides you with a defense in court which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so drivers should carry high limits.
- Extra coverages can waste money – There are many add-on coverages that you can get tricked into buying on your Cayman policy. Things like personal injury protection, accidental death and motor club memberships are some examples. They may seem like a good idea initially, but if you don’t need them remove them from your policy.
- Allowing your policy to lapse raises rates – Driving with no insurance is a misdemeanor and as a result your rates will increase for letting your insurance expire. Not only will rates go up, getting caught without coverage will get you a revoked license or a big fine.
- Better crash test results mean better rates – Safer cars get lower rates. Safe vehicles have better occupant injury protection and any reduction in injury severity translates into fewer and smaller insurance claims and thus lower rates. If the Porsche Cayman earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it is probably cheaper to insure.
Pay less for Porsche Cayman insurance
Companies that sell car insurance don’t always publicize all available discounts in a way that’s easy to find, so we break down both the well known and the more hidden savings tricks you should be using.
- Multiple Policy Discount – When you combine your home and auto insurance with one company you will save 10% to 20% off each policy.
- Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and earn discounts up to 10%.
- Low Mileage Discounts – Driving fewer miles can earn a substantially lower rate.
- Sign Online – A handful of insurance companies will discount your bill up to fifty bucks just for signing your application on their website.
- Government Employees – Employees or retirees of the government could cut as much as 10% off on Cayman insurance with select insurance companies.
- Accident Waiver – Some insurance companies will allow you to have one accident before hitting you with a surcharge if you are claim-free prior to the accident.
Keep in mind that some of the credits will not apply the whole policy. Some only apply to the cost of specific coverages such as collision or personal injury protection. So when the math indicates it’s possible to get free car insurance, you won’t be that lucky.
To see a list of providers offering auto insurance discounts, click here.
Tailor your coverage to you
When buying coverage, there really is not a “best” method to buy coverage. Each situation is unique.
For instance, these questions could help you determine if you would benefit from an agent’s advice.
- Is my 2014 Porsche Cayman covered for smoke damage?
- Will my rates increase for filing one claim?
- How high should my medical payments coverage be?
- Are rental cars covered under my policy?
- Does my policy cover me when driving someone else’s vehicle?
- Does my 2014 Porsche Cayman qualify for pleasure use?
- How do I buy GAP insurance?
- Will my vehicle be repaired with OEM or aftermarket parts?
- Why does it cost so much to insure a teen driver?
If it’s difficult to answer those questions but you know they apply to you then you might want to talk to a licensed agent. To find lower rates from a local agent, take a second and complete this form.
Detailed coverages of your insurance policy
Knowing the specifics of a insurance policy aids in choosing appropriate coverage and the correct deductibles and limits. The terms used in a policy can be ambiguous and reading a policy is terribly boring.
Collision coverage will pay to fix damage to your Cayman resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.
Collision can pay for claims such as crashing into a building, colliding with another moving vehicle and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are older. It’s also possible to raise the deductible in order to get cheaper collision rates.
Comprehensive auto coverage
Comprehensive insurance covers damage that is not covered by collision coverage. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims such as hail damage, fire damage, hitting a deer and damage from getting keyed. The maximum payout you’ll receive from a claim is the ACV or actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea.
Medical payments and PIP coverage
Coverage for medical payments and/or PIP pay for bills like surgery, rehabilitation expenses and EMT expenses. They are used in conjunction with a health insurance plan or if you lack health insurance entirely. They cover both the driver and occupants in addition to getting struck while a pedestrian. Personal Injury Protection is only offered in select states but it provides additional coverages not offered by medical payments coverage
Liability insurance protects you from injuries or damage you cause to other’s property or people. This coverage protects you from legal claims by others. It does not cover damage sustained by your vehicle in an accident.
Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see limits of 25/50/25 that translate to $25,000 bodily injury coverage, $50,000 for the entire accident, and property damage coverage for $25,000.
Liability coverage pays for claims such as bail bonds, court costs, emergency aid, funeral expenses and attorney fees. How much liability should you purchase? That is up to you, but consider buying as much as you can afford.
What is YOUR best insurance company?
Insureds leave their current company for many reasons like not issuing a premium refund, delays in responding to claim requests, denial of a claim and high rates after DUI convictions. No matter why you want to switch, switching companies is pretty simple and you could end up saving a buck or two.
As you shop your coverage around, never reduce needed coverages to save money. There have been many situations where an insured dropped collision coverage and learned later they didn’t purchase enough coverage. The ultimate goal is to purchase a proper amount of coverage at an affordable rate while not skimping on critical coverages.
Low-cost 2014 Porsche Cayman insurance can be purchased both online as well as from independent agents, so you should be comparing quotes from both in order to have the best price selection to choose from. Some companies don’t offer the ability to get a quote online and these small, regional companies work with independent agents.
For more information, feel free to browse the resources below:
- Car Insurance: When not to Skimp (BankRate.com)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Insitute)
- Winter Driving (Insurance Information Insitute)
- Auto Insurance Facts and Statistics (Insurance Information Insitute)
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