Are you kicking yourself for buying high-priced Porsche Cayenne insurance in Houston? You’re in good company because many consumers are feeling buyer’s remorse and feel like there’s no way out.
It’s hard to believe, but the majority of drivers have purchased from the same company for a minimum of four years, and almost half have never quoted rates to find cheap coverage. Many drivers in Texas could save roughly 70% each year by just comparing quotes, but they just don’t understand the rate savings if they replace their high priced policy.
With so many insurance companies to choose from that have cheap insurance for a Porsche Cayenne in Houston, it’s nearly impossible to find a lower cost auto insurance company.
It’s important to get comparison quotes quite often since insurance rates tend to go up over time. If you had the best deal on Porsche Cayenne insurance in Houston two years ago you can probably find a better price now. Forget anything you know (or think you know) about auto insurance because you’re about to learn the proper way to lower your rates without sacrificing coverage.
Choosing the most cost-effective auto insurance policy in Houston is quite easy if you know the best way to do it. Just about each driver who has to purchase auto insurance most likely will find a lower price. Nevertheless, Texas car owners benefit from understanding the way insurance companies sell online and take advantage of how the system works.
Eight factors that influence insurance premiums
One of the most helpful ways to save on insurance is to to have a grasp of some of the factors that play a part in calculating your policy premiums. When consumers understand what determines premiums, this allows you to make educated decisions that will entitle you to cheaper rates.
The list below includes some of the major factors utilized by car insurance companies to help set your rates.
Your stress level may be raising your premiums – Did you know your career choice can influence rates? Occupations such as doctors, air traffic controllers, and medical professionals usually pay higher average rates due to intense work-related stress and long work days. On the flip side, occupations like scientists, historians and the unemployed have lower than average premiums.
Multi-policy discounts can save money – Most larger companies give discounts to customers who have multiple policies with them in the form of a multi-policy discount. This can amount to 10 percent or more. Even if you’re getting this discount you still need to compare other company rates to make sure you are getting the best deal.There is a good possibility that you can save even more than the discount by insuring with multiple companies.
Safer vehicles save money – Safer cars are cheaper to insure. Vehicles engineered for safety reduce the chance of injuries and fewer injuries means your insurance company pays less which can result in lower premiums.
How much liability protection – A critical coverage on your policy, liability insurance kicks in when you are found liable for causing personal injury or damage in an accident. Your policy’s liability insurance provides you with a defense in court starting from day one. Liability is cheap as compared to coverage for physical damage, so drivers should make sure they buy enough to cover all assets.
Get hitched and get better premiums – Being married can get you a discount on your insurance policy. Having a spouse usually means you are more financially stable and statistics prove married drivers tend to file fewer claims.
Cautious drivers pay the best premiums – How you drive has a huge affect on how much you pay. Drivers with clean records pay lower auto insurance prices compared to bad drivers. Having just one ticket may increase your cost by as much as thirty percent. Drivers who have careless violations like DUI or reckless driving are required to file a proof of financial responsibility form (SR-22) with their state in order to keep their license.
Higher deductibles save money – Insurance for physical damage, also called comprehensive and collision insurance, covers damage that occurs to your Porsche. A few examples of covered claims are a windshield shattered by a rock, damage caused by hail, and damage from a fallen tree branch. Comprehensive and collision coverage deductibles define how much you are willing to pay before a claim is paid by your company. The more expense you’re willing to pay, the lower your rates will be.
Additional coverages that may be costing you – Policies have optional add-on coverages that you can buy when buying insurance. Insurance for roadside assistance, death and dismemberment, and term life insurance are examples of these. These may sound like a good investment when you first buy your policy, but if you don’t need them get rid of them and save.
Loss statistics for a Porsche Cayenne – Car insurance companies include the past claim trends for vehicles when they set coverage costs for each model. Vehicles that the data shows to have higher number or severity of losses will have a higher cost to insure.
The table shown below demonstrates the historical loss data for Porsche Cayenne vehicles. For each insurance policy coverage type, the claim probability for all vehicles, as an average, is represented as 100. Percentage values below 100 mean the vehicle has better than average losses, while values that are 100 or greater point to more losses or a tendency for losses to be larger than average.
Car Insurance Loss Data for Porsche Cayenne Models
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Porsche Cayenne 4dr 4WD||176||100||138||58||53||77|
|Porsche Cayenne Hybrid 4dr 4WD||119|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Most companies like Allstate and Progressive make it easy to get coverage prices online. Getting quotes for Porsche Cayenne insurance in Houston is easy for anyone as you just type in your personal and coverage information as detailed in the form. Upon sending the form, their system requests your credit score and driving record and generates a price based on many factors. Being able to quote online for Porsche Cayenne insurance in Houston streamlines rate comparisons, and it’s absolutely necessary to have as many quotes as possible in order to get cheaper prices.
To use this form to compare rates, visit the companies below or click here to submit a quote request to multiple companies at once. If you currently have coverage, we recommend you enter the insurance coverages identical to your current policy. This ensures you will be getting an apples-to-apples comparison using the exact same coverages.
The companies shown below are our best choices to provide quotes in Texas. If more than one company is shown, we recommend you compare several of them in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cayenne S Transyberia||$282||$582||$366||$22||$110||$1,362||$114|
|Cayenne GTS PD Edition 3||$448||$756||$500||$30||$150||$1,884||$157|
|Cayenne Turbo S||$598||$1116||$382||$22||$114||$2,232||$186|
|Get Your Own Custom Quote Go|
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Rates do not factor in vehicle location which can decrease or increase premiums substantially.
Impact of careless driving on auto insurance rates
The diagram below illustrates how traffic citations and at-fault claims can raise Porsche Cayenne yearly insurance costs for different categories of driver ages. The rate quotes are based on a single female driver, comp and collision included, $100 deductibles, and no discounts are factored in.
Analysis of deductible levels
The information below demonstrates how choosing different deductibles and can affect Porsche Cayenne premium costs for each different age group. The costs are based on a single female driver, full physical damage coverage, and no discounts are applied.
Premiums by gender and age
The chart below illustrates the comparison of Porsche Cayenne insurance premiums for male and female drivers. The prices are based on no driving violations, no at-fault accidents, full physical damage coverage, $500 deductibles, single marital status, and no discounts are factored in.
Don’t listen to company ads
Popular auto insurance providers such as Allstate and Progressive seem to constantly run ads on TV and radio. They all seem to seem to make the promise that you can save if you change your auto insurance coverage to their company. How does every company make almost identical claims?
All companies have underwriting criteria for the type of customer that will be a good risk. For example, a profitable insured might have to be between the ages of 30 and 50, has a clear driving record, and drives less than 5,000 miles a year. Anyone who fits those characteristics receives the best prices in Houston and will save when they switch companies.
People who fall short of the ideal profile will have to pay higher premium rates and this results in the customer not buying. The ad wording is “drivers who switch” not “all people who quote” save that much. This is how companies can truthfully claim big savings. This illustrates why you really should do a rate comparison at every renewal. Because you cannot predict the company that will fit you best based on your risk profile.
Why you need Porsche Cayenne insurance in Texas
Despite the fact that insurance is not cheap in Houston, insuring your vehicle is required in Texas but it also protects you in many ways.
First, most states have mandatory liability insurance requirements which means state laws require a specific minimum amount of liability insurance coverage in order to get the vehicle licensed. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if you bought your Cayenne with a loan, it’s most likely the lender will stipulate that you have full coverage to protect their interest in the vehicle. If you default on your policy, the bank may insure your Porsche for a lot more money and make you pay a much higher amount than you were paying before.
Third, insurance protects both your assets and your car. Insurance will also pay for many types of medical costs incurred in an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if anyone sues you for causing an accident. If your car is damaged in a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage minus the deductible amount.
The benefits of insuring your Cayenne definitely exceed the price paid, particularly when you have a large claim. According to a survey of 1,000 drivers, the average driver overpays as much as $810 a year so it’s very important to do a rate comparison at every policy renewal to help ensure money is not being wasted.
Lower rates by qualifying for discounts
Car insurance can be pricey, but there could be significant discounts that you may not even know about. Certain reductions will be credited at the time of quoting, but some may not be applied and must be requested specifically prior to receiving the credit.
- Air Bags and Passive Restraints – Vehicles with factory air bags or automatic seat belts may get savings of 25 to 30%.
- Defensive Driving Course – Participating in a course that instructs on driving safety could earn you a small percentage discount if your company offers it.
- Own a Home and Save – Owning your own home or condo can earn you a little savings because of the fact that having a home requires personal responsibility.
- No Claim Discounts – Insureds who avoid accidents and claims pay less when compared to insureds who have frequent claims or accidents.
- First Accident Forgiveness – Not a discount per se, but companies like State Farm and GEICO will forgive one accident without the usual rate increase if your claims history is clear before the accident.
- E-sign Discounts – Certain companies will provide an incentive for buying your policy digitally online.
Please keep in mind that some credits don’t apply to the whole policy. Some only apply to the cost of specific coverages such as liability and collision coverage. Just because it seems like you would end up receiving a 100% discount, companies don’t profit that way. But any discount should definitely cut the amount you have to pay.
A list of companies and a selection of discounts are shown below.
- GEICO may offer discounts for multi-vehicle, military active duty, daytime running lights, air bags, good student, and driver training.
- MetLife includes discounts for claim-free, accident-free, good driver, good student, defensive driver, and multi-policy.
- Progressive has savings for continuous coverage, online quote discount, multi-policy, homeowner, multi-vehicle, and good student.
- Travelers policyholders can earn discounts including new car, good student, early quote, hybrid/electric vehicle, save driver, multi-car, and continuous insurance.
- SAFECO discounts include multi-car, teen safe driver, drive less, anti-lock brakes, and homeowner.
- AAA may have discounts that include AAA membership discount, education and occupation, pay-in-full, multi-policy, and good driver.
Before buying, ask each company to give you their best rates. Some of the discounts discussed earlier may not apply in Houston.
What if I want to buy from local Houston insurance agents?
Many drivers just prefer to talk to a local agent. A nice benefit of comparing insurance prices online is the fact that drivers can get lower rates but still work with a licensed agent.
After completing this quick form, your information is emailed to participating agents in Houston who will give competitive quotes for your coverage. You won’t need to leave your computer because quoted prices will be sent to you directly. You can most likely find cheaper rates and an insurance agent to talk to. If you have a need to get a rate quote from a specific insurance company, just jump over to their website and fill out the quote form the provide.
Choosing the best provider requires more thought than just a cheap price. You should also get answers to these questions.
- How experienced are they in personal risk management?
- Are they paid to recommend certain coverages?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Does the agency have a good rating with the Better Business Bureau?
- Does the quote include credit and driving reports?
- How much can you save by raising your physical damage deductibles?
- What discounts might you be missing?
- What insurance companies do they recommend if they are an independent agent?
Types of auto insurance agents
If you would like to find a reputable insurance agent or broker, you must know there are a couple different types of agencies and how they are distinctly different. Car insurance agents are categorized either exclusive or independent agents depending on their company appointments.
Exclusive Car Insurance Agencies
Agents that elect to be exclusive can only provide pricing for a single company like State Farm, Allstate, and Farm Bureau. These agents are unable to compare other company’s rates so it’s a take it or leave it situation. Exclusive agents are trained well on their products and sales techniques and that allows them to sell at a higher price point.
Listed below is a short list of exclusive agencies in Houston that are able to give rate quotes.
Independent Insurance Agents
Independent agents are not limited to a single company so they can quote policies with a variety of different insurance companies and find you cheaper rates. If they find a lower price, your agent can switch companies which requires no work on your part. When comparing rate quotes, you will want to check rates from at least one independent agent in order to have the best price comparison.
Below is a short list of independent insurance agencies in Houston that are able to give price quotes.
Keep this in mind when shopping around
We just covered a lot of techniques to save on Porsche Cayenne insurance in Houston. The most important thing to understand is the more rate comparisons you have, the higher the chance of saving money. You may even be surprised to find that the lowest premium rates come from some of the smallest insurance companies. Regional companies may only write in your state and offer lower prices as compared to the big name companies such as Progressive and GEICO.
When buying insurance coverage, it’s not a good idea to buy lower coverage limits just to save a few bucks. There have been many situations where an insured cut collision coverage only to regret that their decision to reduce coverage ended up costing them more. The ultimate goal is to buy the best coverage you can find at the best cost.
To read more, feel free to browse the resources below:
- What to do at the Scene of an Accident (Insurance Information Institute)
- How Much are Auto Insurance Quotes for Veterans in Houston? (FAQ)
- Who Has Cheap Auto Insurance for Handicapped Drivers in Houston? (FAQ)
- Who Has Cheap Auto Insurance for a Honda Civic in Houston? (FAQ)
- Who Has Affordable Car Insurance for 18 Year Olds in Houston? (FAQ)
- Auto Insurance Facts and Statistics (Insurance Information Institute)
- Shopping for a Safe Car (Insurance Information Institute)