Many people dream of owning a Porsche. The luxury automobile manufacturer offers many models, from the small 718 Boxster to sturdy Cayenne. Many models can be converted to hybrid or electric cars.
Owning a Porsche means you need to insure it. It might take some research to find affordable Porsche auto insurance. You may be able to get multiple quotes. It might be helpful to compare the costs of different models and body types so you can make an informed decision about insuring your car.
This review includes models:
- Porsche 718 Boxster
- Porsche 718 Cayman
- Porsche Cayenne
- Porsche Panamera
What is the cost of Porsche insurance?
The average annual cost of full-coverage car insurance in the United States for is $1,674 annually. Your specific rating factors will affect the price of your car insurance premiums. This could mean that your final cost may be higher or lower. Rates for auto insurance are determined by your driving record, whereabouts you live, and what coverages you select.
Each auto insurance company has its own rates. This is why auto insurance costs vary from one carrier to the next. It also matters what make and model you drive. Each Porsche model’s base price, safety features and repair costs, as well as the price of parts, all play a role in how much insurance costs.
- Prices of parts: Porsche uses premium materials for its cars, so parts that are needed to fix a Porsche may be more expensive than those of other brands. Because claims costs may be higher, this could lead to an increase in car insurance premiums.
- Safety features: Most Porsche models have front and knee airbags as well as the Porsche Side Impact Protection System standard (POSIP). Some models include curtain airbags. Some models include the Porsche Active Safe (PAS), which can reduce or prevent damage from a forward collision. By reducing the chance of injuries and damages, safety features can lower car insurance costs.
Porsche insurance: By model
Car insurance rates can vary depending on your rating factors. They also may differ based upon the vehicle model. Insurance costs can vary depending on the model. Different models may have different safety features and repair costs.
Car insurance for Porsche 718 Boxster
The Porsche 718 Boxster has many safety features including an anti-theft, POSIP and dual front and knee airbags. The 718 Boxster is available in coupe and cabriolet trims at a starting price of $62,600. The 718 Boxster boasts 300 horsepower and can go from 0 to 60 mph in 4.9 seconds. It is also the most affordable car insurance rate of all the Porsche models.
Car insurance for Porsche 718 Cayman
The 718 Cayman Porsche’s most sporty car. The Cayman has similar features to the Boxster and a base price at $60,500. It also offers similar rates for car insurance.
Car insurance for Porsche Cayenne
The Porsche Cayenne is available in coupe or SUV. Prices start at $67,500, and go up to $166,000. For the Turbo S E-Hybrid coupe, prices rise to $166,000. Although the Cayenne has more safety features than the Panamera and 718 models, it does have a higher base cost depending on the trim package. Due to its performance and higher price, the Cayenne is more expensive in car insurance.
Car insurance for Porsche Panamera
The Porsche Panamera is available in sedan, executive, and Sport Turismo trims, with prices ranging from $87,200 up to $198,100. Because of the higher horsepower, the price for parts, and the base price, the higher trim packages are more expensive to insure than the sedan models. The maximum horsepower for the sedan is 325 horsepower, while the Sport Turismo has 690 horsepower.
Porsche: The cheapest car insurance company
Car insurance rates can also vary depending on the carrier as each company sets its rates. Below is a table that shows the average premiums for full coverage for Porsche models from the largest auto insurance companies in this country. It is based on market share.
Although your rate will vary depending on your driving history and coverages, you might find it useful to compare the average premium of different companies when shopping for car insurance. You might consider switching carriers if your Porsche is currently insured.
Porsche features that can impact insurance costs
Each auto insurance manufacturer has unique features that may impact the cost of car insurance. The following are some aspects of Porsche cars that could impact rates:
- Airbags: Porsche models are equipped with both front and knee airbags. However, some models also have curtain and rear airbags. You can save money on your car insurance if you have more airbags.
- Stability control: This feature is available on some Porsche models. If the car loses its traction, stability control will kick in. This safety feature can reduce the risk of an accident and lower car insurance premiums.
- Lane keep assist: Available on the Panamera and Cayenne, this feature warns the driver when the vehicle moves out of its lane. This feature may reduce the risk of accidents and lower your insurance premiums.
Porsche also offers other car insurance coverage
When shopping for Porsche car insurance, the cost of your policy is just one factor to consider. Porsche owners might want to consider purchasing additional coverage beyond the minimum required by law when they insure their car.
Full coverage isn’t required by law. However, your lender may require you to have full coverage if you have a mortgage or lease. If your Porsche is involved in an accident, it may be worth the extra expense.
- Comprehensive coverage: Sometimes called “other-than-collision,” comprehensive provides coverage for damage to your vehicle caused by a variety of situations, including hitting an animal, damage caused by storms or weather events, theft, vandalism and glass breakage.
- Collision coverage: This coverage covers damage from collisions. This coverage covers damage caused by collisions with other vehicles, stationary objects, pedestrians, and buildings, among others.
- Gap insurance – This option pays the difference between your vehicle’s depreciated price and the amount you financed. This option is only available to vehicles that are relatively new, and not all insurance companies offer it. It may be possible to buy it through your lender.
- Roadside assistance – This optional coverage may help to cover the cost of many roadside assistance services, such as a jump, tow or locksmith.
It’s exciting to own a Porsche, but you should also consider your insurance needs. Talking to a licensed agent can help you decide which coverages are right for you.
