Porsche Insurance

What You Should Know About Porsche Insurance

Porsche 911

Porsches are included among the finest performance vehicles on the road today. Many owners of these sleek luxury sports cars continue to buy this make of vehicle, time and time again. If you are considering joining the elite rank of Americans who own Porsches, you may have questions about safety, performance, and insurance considerations. If you already own one, you may wonder how to get the best price on your Porsche insurance.

A Trusted Choice agent can answer your insurance-related questions and can advise you about the various coverage options available to you. Find a member agent today to learn more about Porsche insurance.

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Porsche Fast-Facts

  • Porsche is headquartered in Stuttgart, Germany
  • The company was founded in 1931 by Ferdinand Porsche
  • Porsche designed the original Volkswagen Beetle
  • Porsche and Volkswagen have maintained a  close working relationship
  • Porsche is the most successful brand in motorsport and is the largest manufacturer of racing cars
  • In 2008, Porsche sold almost 100,000 cars worldwide
  • In 2011, a total of 29,023 Porsches were sold in North America
  • In 2012, that number jumped to 35,043 cars sold, a 12% increase

Porsches and Auto Theft

When you buy a Porsche, you are making a large investment in your vehicle. Be sure to protect your investment by including sufficient comprehensive coverage in your Porsche insurance policy, so that if your car is vandalized, stolen, or otherwise damaged while not on the road, you can receive compensation for your loss.

Despite their sleek look and high value, Porsches are rarely stolen, with an annual theft rate that hovers around 0% per thousand vehicles. This may have a lot to do with the high quality, built-in security system. The cars are also very noticeable, and this makes it hard for thieves to blend in with traffic to avoid detection. The low theft rate of these vehicles works in your favor when purchasing insurance, because less risk for the insurer means lower rates for you.

Porsche Safety Features and Specs

Porsches have a virtually untarnished reputation for safety and performance, and this also works in your favor it comes to insurance rates. All Porsches currently in production come equipped with the following safety features:

  • Anti-lock brakes
  • Stability control
  • Front-impact airbags
  • Side-impact airbags
  • Overhead airbags
  • Seatbelt pre-tensioners
  • Built-in security systems

The most popular models in America are the 911, the Boxster and the Cayenne. The safety features included in each of these models reduce the risk of a major injury to the driver and passengers during a collision. When the insurance company faces less risk of a costly medical expense payout, your rates go down. That's why the more safety features your car has, the better your insurance premium will be.

About the 2013 Porsche 911

Porsche 911

This vehicle ranges in price from $84,300 to $172,100 fully loaded. It is 176.3 inches long, 72.9 inches wide and 51.2 inches high, and has a wheelbase of 92.5 inches to add to its stability. It is highly maneuverable at 4,090 pounds in weight, and gets about 17 miles per gallon in the city and 24 miles per gallon on the highway.

The 4-passenger Porsche 911 is available as either a coupe or a cabriolet. Buyers can select a Carrera model that is available in either rear-wheel or all-wheel drive, or a Turbo model. The 2013 Porsche 911 Carrera features a 350-horsepower direct-injection 3.4-liter flat six-cylinder engine, and the Turbo version has a powerful 500-horsepower 3.8-liter six-cylinder. The manual transmission cars offer 6 or 7 speeds.

Besides the standard safety features included with all Porsches, the 911 also comes equipped with bi-xenon headlights and an engine immobilizer. Additionally, the cabriolet models have auto-deploying roll-over protection.

Because of the high price tag and the huge capacity for speed, you can expect your insurance rates to run much higher than the average sedan: around $2500 per year, in fact. Porsche 911s are some of the most expensive cars to insure these days, but many owners feel the price is well worth it.

About the 2013 Porsche Boxster

Porsche Boxster

This snazzy convertible ranges in price from $49,500 to $60,900 fully loaded. It is 172.2 inches long, 70.9 inches wide and 50.5 inches high and has a wheelbase of 97.4 inches to add to its stability. It is easily steerable at about 3,630 pounds in weight, and gets about 20 miles per gallon in the city and 30 miles per gallon on the highway.

The 2-passenger Porsche Boxster is a 2-door real-wheel drive vehicle that comes with either a Base or an S trim level. The Boxster features a 265-horsepower direct-injection 2.7-liter flat six-cylinder engine and the S version has a 315-horsepower 3.4-liter six-cylinder. In a manual transmission these cars offer either 6 or 7 speeds.

Besides the standard safety features included with all Porsches, the 911 also comes equipped with bi-xenon headlights, seat-mounted airbags, ventilated four-wheel anti-lock disc brakes and a fixed roll-over protection bar.

You can expect an insurance rate of around $1400 per year for a new Boxster, but your rates may be lower if you have a clean driving record and plenty of years behind the wheel. 

About the 2013 Porsche Cayenne

Porsche Cayenne

Ranging in price from $48,850 to $108,750 fully loaded, the Cayenne is Porsche’s foray in the world of sport utility vehicles. The Cayenne is 190.8 inches long, 76.3 inches wide and 67.4 inches high and has a wheelbase of 114.0 inches. It is surprisingly maneuverable at 6,096 to 6,349 pounds in weight. It gets 15 miles per gallon in the city and 22 miles per gallon on the highway.

The 5-passenger 2013 Porsche Cayenne features all-wheel drive and is available in five trims, including a V6 and a Turbo model. It has a six-speed automatic transmission, and depending on trim, it boasts a 240 to 500-horsepower 3.6 or 4.8-liter direct-injection engine.

Besides the standard safety features included with all Porsches, the 911 also comes equipped with bi-xenon headlights, knee airbags, active suspension management and dynamic chassis control.

Insurance for a brand new Cayenne costs around $2000 per year. An independent agent may be able to combine your Porsche insurance with other coverage you need, such as business insurance and boat insurance, to get you discounts and save you time. 

How Much Does Porsche Auto Insurance Cost?

Though its safety ratings and low-theft statistics serve to lower insurance costs a bit, it is still expensive to insurance a Porsche. This is partially due to the high cost of the vehicles themselves. If you finance your Porsche, as most buyers do, you must also purchase high levels of comprehensive coverage in order to be fully insured. Furthermore, Porsches are very fast cars, and owners of these vehicles run a higher risk of exceeding safe speed limits.

Most importantly, however, Porsche owners usually have assets worth protecting. A liability lawsuit after a collision can make a substantial dent in your financial portfolio and future earnings, if you do not have sufficient liability coverage. For this reason, most Porsche owners purchase the highest level of liability coverage available.

To get an idea of what you might expect to pay, review the following averages:

  • Average cost to insure a Porsche 911 Turbo: $2,706.04 a year
  • Average cost to insure a Porsche Panamera S: $2,744.48 a year

The benefits of sufficient coverage become very apparent when the unexpected happens. A collision or a lawsuit can quickly reach the $100,000 mark, and even the millions, once the legal defense bills roll in. A comprehensive policy with a high liability limit helps you drive the car you love without worry. 

Start Comparing Porsche Insurance Quotes

Porsches are expensive to purchase, own and insure, but for many drivers, these vehicles are the perfect choice for their on road adventures. If you are considering the purchase of one of these sporty, luxury vehicles, be sure to factor in insurance when determining your monthly and annual costs. If you already own a Porsche, you may be able to save money by speaking to an independent agent about your options.

An agent in the Trusted Choice network can help you determine whether you are properly protecting your assets with sufficient liability insurance, and can ensure that you are receiving your coverage at a competitive rate. Contact a local member agent now, and start comparing Porsche car insurance quotes today.

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