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 an independent agent today to learn more about Porsche insurance.
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.
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.