Want to learn the secrets to finding more affordable Porsche Panamera insurance in Miami? Locating the cheapest Miami Porsche Panamera insurance quotes on the web can be rather difficult for drivers new to quoting and comparing rates and buying insurance on the internet. With literally dozens of online companies available, how are drivers expected to be able to compare the different rates to find lower insurance premiums?
Unthinkable but true, almost 70% of drivers have bought insurance from the same company for over three years, and nearly 40% of drivers have never quoted rates to find cheap coverage. Many consumers in Miami can cut their rates by approximately $1,126 a year just by getting comparison quotes, but they just assume it’s a time-consuming process to go online and compare rates.
It’s a good idea to compare rates before your next renewal because prices are adjusted regularly by insurance companies. If you had the best price on Porsche Panamera insurance in Miami a few years ago there may be better deals available now. Block out anything you think you know about insurance because you’re about to find out the easiest way to eliminate unnecessary coverages and save money on Porsche Panamera insurance in Miami.
When price shopping your coverage, comparing a large number of companies increases your odds of finding a lower rate. Some smaller insurers do not give rate quotes online, so it’s necessary to compare price quotes from those companies as well.
The companies shown below can provide price quotes in Miami, FL. If you want to find the best cheap auto insurance in Miami, we suggest you visit two to three different companies to get a more complete price comparison.
Rates and data analysis
The price information displayed next showcases estimates of insurance coverage prices for Porsche Panamera models. Having a better understanding of how insurance premiums are figured can be valuable when making smart choices when selecting a coverage provider.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Panamera S 4-Dr Hatchback | $446 | $936 | $542 | $32 | $162 | $2,118 | $177 |
| Panamera 4S AWD 4-Dr Hatchback | $446 | $1024 | $542 | $32 | $162 | $2,206 | $184 |
| Panamera Turbo AWD 4-Dr Hatchback | $510 | $1200 | $542 | $32 | $162 | $2,446 | $204 |
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Table data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, homeowner, and multi-vehicle. Price information does not factor in specific location information which can alter premiums substantially.
Can higher deductibles save money?
When comparing car insurance rates, the most common question is how high should the physical damage coverage deductibles be. The data tables below may aid in understanding the costs and benefits when you buy lower versus higher insurance deductibles. The first rate comparisons uses a $250 deductible and the second rate table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Panamera S 4-Dr Hatchback | $572 | $1028 | $418 | $24 | $124 | $2,191 | $183 |
| Panamera 4S AWD 4-Dr Hatchback | $572 | $1124 | $418 | $24 | $124 | $2,287 | $191 |
| Panamera Turbo AWD 4-Dr Hatchback | $654 | $1318 | $418 | $24 | $124 | $2,563 | $214 |
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| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Panamera S 4-Dr Hatchback | $352 | $646 | $418 | $24 | $124 | $1,564 | $130 |
| Panamera 4S AWD 4-Dr Hatchback | $352 | $706 | $418 | $24 | $124 | $1,624 | $135 |
| Panamera Turbo AWD 4-Dr Hatchback | $404 | $828 | $418 | $24 | $124 | $1,798 | $150 |
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Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, multi-policy, and claim-free. Table data does not factor in vehicle garaging location which can influence prices significantly.
Based on the figures above, using a $250 deductible will cost in the ballpark of $58 more each month or $696 a year averaged for all Panamera models than choosing the higher $1,000 deductible. Since you would have to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you normally average at a minimum 13 months between claims, you would save more money going with the higher deductible.
How to calculate if higher deductibles make sense
| Average monthly premium for $250 deductibles: | $196 |
| Average monthly premium for $1,000 deductibles (subtract): | – $138 |
| Monthly savings from raising deductible: | $58 |
| Difference between deductibles ($1,000 – $250): | $750 |
| Divide difference by monthly savings: | $750 / $58 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 13 months |
Car insurance rates based on gender in Miami
The diagram below shows the comparison of Porsche Panamera auto insurance costs for male and female drivers. The rates are based on no tickets, no at-fault accidents, comp and collision included, $1,000 deductibles, marital status is single, and no discounts are taken into consideration.
Rate comparison of full coverage and liability-only
The example below illustrates the comparison of Porsche Panamera auto insurance costs when comparing full coverage to liability only. The price estimates are based on no claims or driving violations, $250 deductibles, drivers are single, and no discounts are applied to the premium.
When to eliminate full coverage
There is no written rule that is best for determining when to drop physical damage coverage, but there is a general convention. If the annual cost of comprehensive and collision coverage is more than 10% of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
For example, let’s pretend your Porsche Panamera settlement value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $2,000 after paying your policy deductible. If premium cost is more than $200 annually for your policy with full coverage, then you may need to consider dropping full coverage.
There are a few situations where buying only liability insurance is not recommended. If you still owe money on your vehicle, you are required to maintain full coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not eliminate full coverage.
Discounts for cheaper insurance quotes
Companies offering auto insurance do not advertise their entire list of discounts in a way that’s easy to find, so the following is a list of a few of the more well known and the more hidden credits available to lower your premiums when you buy Miami auto insurance online. If you check and find you aren’t receiving every discount you qualify for, you are just wasting money.
- Multi-policy Discount – If you can bundle your auto and home insurance and insure them with the same company you will save as much as 10 to 15 percent.
- College Student Discount – Children who are enrolled in a college that is more than 100 miles from Miami and won’t have access to an insured vehicle may be able to be covered for less.
- Multi-line Discount – Some insurance companies give a discount if you purchase some life insurance too.
- Discount for Swiching Early – Select insurance companies give a discount for switching policies prior to your current Panamera insurance policy expiring. This discount can save up to 10%.
- Professional Memberships – Belonging to certain professional organizations is a good way to get lower rates on your next renewal.
Keep in mind that some of the credits will not apply to the overall cost of the policy. Most only cut individual premiums such as comprehensive or collision. Even though the math looks like having all the discounts means you get insurance for free, companies don’t profit that way.
The information below illustrates the comparison of Porsche Panamera auto insurance rates with and without some available policy discounts. The premiums assume a male driver, no claims, a clean driving record, Florida state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, multi-car, marriage, safe-driver, and multi-policy discounts applied.
To view insurance companies who offer online Porsche Panamera insurance quotes in Florida, follow this link.
Car insurance is not optional
Even though it can be expensive, buying car insurance serves an important purpose.
- The majority of states have compulsory liability insurance requirements which means you are required to carry specific limits of liability if you want to drive legally. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your Porsche Panamera, it’s guaranteed your bank will require you to buy full coverage to guarantee loan repayment. If coverage lapses or is canceled, the lender may insure your Porsche at a much higher premium rate and require you to fork over the higher price.
- Car insurance preserves not only your vehicle but also your financial assets. Insurance will pay for medical transport and hospital expenses for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of having car insurance are without a doubt worth the cost, especially if you ever need it. According to a 2015 survey, the average American driver is overpaying over $810 a year so it’s recommended you shop around every year to ensure rates are inline.
Will just any policy work for me?
Always remember that when buying the right insurance coverage for your personal vehicles, there is no “best” method to buy coverage. Each situation is unique.
For instance, these questions can help discover whether you might need an agent’s assistance.
- What is the difference between comprehensive and collision coverage?
- How long can I keep a teen driver on my policy?
- Am I covered if I wreck a rental car?
- Does low annual mileage earn a discount?
- What can I do if my company denied a claim?
- Is a new car covered when I drive it off the dealer lot?
- Is pleasure use cheaper than using my Porsche Panamera to commute?
- Who sells insurance for high-risk drivers?
- Can my babysitter drive my car?
If you’re not sure about those questions, you might consider talking to a licensed insurance agent. If you don’t have a local agent, complete this form.
You may require the services of an insurance agency
Certain consumers would prefer to talk to an insurance agent and often times that is recommended The biggest benefit of getting free rate quotes online is you can get the lowest rates and still buy from a local agent. Buying from and supporting small agencies is still important in Miami.
To help locate an agent, after submitting this form (opens in new window), your information is submitted to local insurance agents that can provide free Miami auto insurance quotes and help you find cheaper coverage. You don’t have to search for any insurance agencies since price quotes are sent instantly to you. You can find better rates AND an agent nearby. In the event you want to get a rate quote for a specific company, feel free to go to their quote page and fill out their quote form.
If you prefer to buy insurance from a good Miami insurance agent, it’s helpful to know the types of agencies to choose from. Insurance policy providers may be either exclusive or independent agents depending on their company appointments.
Independent Insurance Agencies
Independent agents are normally appointed by many insurers and that enables them to quote your coverage with multiple insurance companies enabling the ability to shop coverage around. If premiums increase, your agent can just switch to a different company and that require little work on your part.
When shopping rates, you need to include rate quotes from a few independent agents for the best price selection. Most also have access to small mutual carriers that many times have cheaper rates.
The following is a short list of independent agents in Miami who can help you get competitive price quotes.
- CHECKMARK INSURANCE AGENCY – Auto and Homeowners Insurance Agents
1375 NW 36th St – Miami, FL 33142 – (305) 638-1280 – View Map - Estrella Insurance #101
3750 W Flagler St – Miami, FL 33134 – (305) 446-6822 – View Map - Leading Insurance Agency
1733 SW 22nd St – Miami, FL 33145 – (305) 857-0075 – View Map
Exclusive Insurance Agencies
Exclusive insurance agents are contracted to one company and examples are State Farm, Allstate and AAA. They generally cannot compare other company’s rates so you need to shop around if the rates are high. Exclusive agents are very knowledgeable in insurance sales which helps them compete with independent agents. Consumers often choose to use an exclusive agent primarily because of the brand legacy and solid financial strength.
Below is a list of exclusive insurance agents in Miami who can help you get price quote information.
- State Farm: Carlos Luis
6001 Bird Rd – Miami, FL 33155 – (305) 663-2300 – View Map - Allstate Insurance: Eduardo Ferraz
1110 Brickell Ave Ste 105 – Miami, FL 33131 – (305) 379-3666 – View Map - Rick Burke – State Farm Insurance Agent
2250 S Dixie Hwy Ste. 2 – Miami, FL 33133 – (305) 860-0616 – View Map
Choosing a auto insurance agent needs to be determined by more than just a cheap price. These are some valid questions you should ask.
- Who is covered by the car insurance policy?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
- What companies can they write with?
- Are they paid to recommend certain coverages?
- If you have an accident, will your rates go up?
If you feel you receive answers to your satisfaction for all questions you ask and an acceptable price quote, it’s possible that you found an insurance agent that is professional and can provide insurance coverage.