No normal person loves paying for auto insurance, particularly when they could find better rates elsewhere.
It’s shocking but the vast majority of consumers have bought auto insurance from the same company for at least the last four years, and almost 40% of drivers have never even shopped around for lower-cost coverage. North Carolina consumers could save an average of 10% each year by just comparing rate quotes, but they just don’t understand the big savings they would realize if they switched to a cheaper policy.
Due to the increasing number of online and local companies to choose from, it can be challenging to pick the lowest cost insurer.
You should make it a habit to get comparison quotes at least once a year because auto insurance prices tend to go up over time. Just because you had the lowest rate on Porsche Cayman insurance in Durham six months ago there may be better deals available now. Forget anything you know (or think you know) about auto insurance because we’re going to demonstrate the proper way to lower your rates without sacrificing coverage.
Save money with these discounts on Porsche Cayman insurance in Durham
The cost of insuring your cars can be expensive, but there could be significant discounts that many consumers don’t even know exist. Larger premium reductions will be automatically applied at the time of purchase, but some need to be specially asked for before being credited.
- Discount for Swiching Early – Some auto insurance companies provide a discount for switching policies before your current coverage expires. The savings is around 10%.
- Discount for Life Insurance – Not every insurance company offers life insurance, but if they do you may earn a discounted auto insurance rate on car insurance if you buy auto and life insurance together.
- Telematics Data Discounts – Durham drivers who agree to allow their company to scrutinize where and when they drive through the use of a telematics system such as Drivewise from Allstate or Snapshot from Progressive may get a rate reduction if they are good drivers.
- One Accident Forgiven – This one is not really a discount per se, but companies like Liberty Mutual, GEICO and Allstate will forgive one accident before they charge you more for coverage if your claims history is clear for a specific time period.
- Discount for Home Ownership – Simply owning a home can save a few bucks due to the fact that maintaining a home requires a higher level of personal finance.
- Passive Restraint Discount – Options like air bags or motorized seat belts can get savings of up to 25% or more.
- Multi-car Discount – Buying a policy with several vehicles on the same auto insurance policy can reduce rates for all insured vehicles.
Remember that most of the big mark downs will not be given to the overall cost of the policy. Most only apply to specific coverage prices like comp or med pay. Just because you may think adding up those discounts means a free policy, companies wouldn’t make money that way. Any qualifying discounts should help reduce the premium cost.
The illustration below compares Porsche Cayman insurance prices with and without discounts applied to the policy premium. The premium estimates are based on a male driver, no accidents or driving violations, North Carolina state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, claim-free, homeowner, safe-driver, and marriage discounts applied.
For a list of companies who offer auto insurance discounts in North Carolina, click here.
How to get the cheapest Porsche Cayman insurance in Durham, North Carolina
Most major insurance companies such as State Farm and Allstate allow you to get insurance quotes online. Obtaining pricing for Porsche Cayman insurance in Durham is quite simple because you just enter your coverage information on the page. After you complete the form, the system gets your driving record and credit report and provides a quote. This makes comparing rates easy, and it is important to perform this step in order to get lower-cost rates.
To compare rates now, consider comparing rates from the companies shown below. If you have coverage now, it’s recommended you duplicate the coverages identical to your current policy. Using the same limits helps guarantee you will have a price comparison for exact coverage.
The companies shown below can provide price comparisons in Durham, NC. To locate cheaper auto insurance in Durham, NC, we recommend you compare several of them in order to find the lowest rates.
Porsche Cayman insurance rate analysis
The information shown below showcases a range of coverage prices for Porsche Cayman models. Learning a little about how prices are figured can help guide drivers when making informed decisions when shopping around for a new policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cayman 2-Dr Coupe||$170||$342||$240||$14||$72||$838||$70|
|Cayman S 2-Dr Coupe||$170||$380||$240||$14||$72||$876||$73|
|Get Your Own Custom Quote Go|
Above prices assume married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Price information does not factor in Durham location which can influence price quotes substantially.
Insurance premiums for males and females
The example below shows the comparison of Porsche Cayman car insurance costs for male and female drivers. The prices are based on no violations or accidents, comprehensive and collision coverage, $250 deductibles, marital status is single, and no other discounts are factored in.
Full coverage rates vs. liability-only
The illustration below visualizes the comparison of Porsche Cayman car insurance costs when comparing full coverage to state minimum liability only. The prices are based on no violations or accidents, $250 deductibles, drivers are not married, and no other discounts are factored in.
Should you buy full coverage or liability only?
There is no definitive guideline that works best for making the decision to drop comp and collision coverage, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.
For example, let’s assume your Porsche Cayman book value is $5,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $4,000 after the policy deductible has been paid. If premiums are more than $400 annually for physical damage coverage, the it may be a good time to stop paying for full coverage.
There are some circumstances where removing full coverage is not a good plan. If you haven’t satisfied your loan, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should keep full coverage.
Compare rate quotes but buy from a local neighborhood Durham car insurance agent
Many drivers just prefer to get professional advice from a licensed agent and that is recommended in a lot of cases An additional benefit of price shopping on the web is that you can obtain cheap auto insurance rates and also buy local. Buying from neighborhood insurance agencies is important particularly in Durham.
By using this short form, your insurance coverage information gets sent to insurance agents in Durham who will give you quotes for your insurance coverage. You never need to contact any agents as quotes are delivered instantly to you. You can get cheaper auto insurance rates and a licensed agent to work with. If you need to quote rates from a specific insurance company, you just need to navigate to their website to submit a rate quote request.
The type of auto insurance agent you choose is important
If you are wanting to purchase auto insurance from a reliable insurance agency, you must know there are a couple different types of agents and how they work. Insurance agencies in Durham can either be exclusive agents or independent agents.
Independent Auto Insurance Agencies or Brokers
These type of agents are not required to write business for one company and that enables them to quote your coverage through many different auto insurance companies and get the cheapest rates. If premiums increase, they can switch companies in-house and you don’t have to do anything. If you need lower rates, you will want to check rates from at a minimum one independent agency to have the best price comparison.
Listed below are independent insurance agencies in Durham that may be able to give cheap rate quotes.
Exclusive Insurance Agencies
Exclusive agents write business for a single company and some examples include Farmers Insurance, State Farm, or Allstate. These agents are unable to place coverage with different providers so you need to shop around if the rates are high. They are usually quite knowledgeable on sales techniques which helps them compete with independent agents.
The following are Durham exclusive agencies willing to provide comparison quotes.
Picking an auto insurance agent requires more thought than just a low price. Any good agent in Durham should know the answers to these questions.
- Is vehicle mileage a factor when determining depreciation for repairs?
- Do they have designations such as AIC, CPCU, or CIC?
- How does the company pay claims for a total loss?
- If you have an accident, will your rates go up?
- How much training do they have in personal risk management?
Best car insurance in Durham
Buying coverage from the highest-rated car insurance company can be challenging considering how many choices drivers have in North Carolina. The company rank data displayed below could help you pick which companies you want to consider when comparing rates.
Top 10 Durham Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
- The Hartford – 87%
Top 10 Durham Car Insurance Companies Ranked by Value
- American Family
- AAA Insurance
- Safeco Insurance
- The Hartford
- The General
- 21st Century
- Titan Insurance
In the end, you can save money
Cheaper auto insurance in Durham is definitely available from both online companies as well as from insurance agents, so you should compare both to have the best chance of lowering rates. There are still a few companies who do not offer online rate quotes and most of the time these smaller companies work with independent agents.
You just read some good ideas how you can save on Porsche Cayman insurance in Durham. The most important thing to understand is the more companies you get car insurance rates for, the higher your chance of finding affordable Porsche Cayman insurance quotes. You may even discover the most savings is with some of the smallest insurance companies. They may cover specific market segments cheaper than their larger competitors like Allstate, GEICO and Progressive.
Steps to quoting cheaper Porsche Cayman insurance in Durham
The best way to get budget car insurance rates in Durham is to start comparing prices yearly from different companies who provide car insurance in North Carolina. Rates can be compared by following these steps.
- Try to learn a little about the coverage provided by your policy and the things you can control to keep rates down. Many policy risk factors that cause high rates like speeding and a negative credit rating can be improved by paying attention to minor details.
- Request rate estimates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from one company like Progressive or Farmers Insurance, while independent agents can provide price quotes for many different companies.
- Compare the new rate quotes to the premium of your current policy to see if you can save by switching companies. If you find a lower rate quote, make sure there is no lapse between the expiration of your current policy and the new one.
- Tell your current agent or company of your intention to cancel your existing policy and submit a down payment along with a signed application for the new coverage. Once the application is submitted, put the certificate verifying proof of insurance along with your vehicle registration.
The most important part of shopping around is to compare similar coverage information on every price quote and and to get price quotes from as many companies as feasibly possible. Doing this helps ensure a fair rate comparison and the most accurate and complete price analysis.
Much more information about auto insurance in North Carolina is available at the links below
- Information for Teen Drivers (GEICO)
- How Much is Durham Car Insurance for Young Drivers? (FAQ)
- Things to Know Before you Cancel Insurance (Allstate)
- What if I Can’t Find Coverage? (Insurance Information Institute)
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)