Everyone knows that insurance companies don’t want you quoting rates from other companies. Insureds who get price comparisons are highly likely to switch to a new company because of the high probability of finding a cheaper policy. Remarkably, a study showed that drivers who regularly shopped around saved over $3,500 over four years compared to drivers who never shopped around for cheaper prices.
If finding budget-friendly rates on Porsche Boxster insurance is why you’re here, then learning a little about the best ways to shop for insurance rates can help simplify the process.
If saving money is your primary concern, then the best way to get discount Porsche Boxster insurance is to do a yearly price comparison from companies who provide auto insurance in Miami. Rate comparisons can be done by following these steps.
First, learn about how insurance companies determine prices and the measures you can control to prevent expensive coverage. Many risk factors that drive up the price such as accidents, careless driving, and a lousy credit rating can be controlled by making small lifestyle or driving habit changes. Continue reading for information to help keep prices low and find discounts that you may qualify for.
Second, compare prices from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from a single company like Progressive or Allstate, while independent agents can provide price quotes from multiple companies.
Third, compare the new rates to the premium of your current policy to see if a cheaper rate is available. If you find better rates and switch companies, make sure there is no coverage gap between policies.
Fourth, notify your agent or company to cancel the current policy. Submit a down payment along with a completed application for the new coverage. Immediately store the certificate of insurance above your visor, in the console, or in the glove compartment.
The critical component of shopping around is to try to use the same liability limits and deductibles on every quote request and to quote with as many different companies as possible. Doing this provides a fair price comparison and a complete price analysis.
How to get cheap Porsche Boxster insurance in Miami
When comparison shopping, there are several ways to compare rate quotes from many auto insurance companies in Florida. The best method to do a complete rate comparison is simply to get online rate quotes. When comparing auto insurance rates, know that comparing more rates from different companies helps you find the best rates. Some smaller insurers do not give online rate quotes, so you should also compare rates from those companies as well.
The providers in the list below are ready to provide quotes in Florida. To locate cheaper auto insurance in Miami, it’s highly recommended you visit two to three different companies to get a more complete price comparison.
Auto insurance is not optional but you don’t have to overpay
Even though it can be expensive, insuring your vehicle may be required for several reasons.
- The majority of states have compulsory liability insurance requirements which means you are required to buy a specific minimum amount of liability protection in order to drive the car. 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 have a loan on your Boxster, it’s guaranteed your bank will require that you buy full coverage to ensure they get paid if you total the vehicle. If the policy lapses, the bank will be required to insure your Porsche for a much higher rate and force you to pay for the much more expensive policy.
- Auto insurance preserves both your Porsche Boxster and your assets. It will also pay for all forms of medical expenses that are the result of an accident. Liability coverage also covers legal expenses if you are named as a defendant in an auto accident. If you have damage to your Porsche as the result of the weather or an accident, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of insuring your Boxster are definitely more than the cost, particularly for liability claims. In a recent study of 1,000 drivers, the average customer is wasting up to $820 a year so smart consumers compare quotes every year to be sure current rates are still competitive.
Facts and figures for Porsche Boxster insurance
The coverage table shown below highlights detailed analysis of insurance coverage prices for Porsche Boxster models. Understanding how insurance policy rates are established can be valuable when making smart choices when buying a car insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Boxster 2-Dr Convertible | $228 | $426 | $366 | $22 | $110 | $1,152 | $96 |
| Boxster S 2-Dr Convertible | $252 | $482 | $366 | $22 | $110 | $1,232 | $103 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Rate quotes do not factor in garaging location in Miami which can impact price quotes substantially.
Analysis of deductible levels
A question often asked by Miami drivers is the level to set your comp and collision deductibles. The rates shown below outline the differences in premium rates when you buy lower versus higher physical damage deductibles. The first rate estimation uses a $250 deductible for physical damage and the second set of rates uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Boxster 2-Dr Convertible | $406 | $736 | $354 | $20 | $106 | $1,647 | $137 |
| Boxster S 2-Dr Convertible | $446 | $834 | $354 | $20 | $106 | $1,785 | $149 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Boxster 2-Dr Convertible | $250 | $464 | $354 | $20 | $106 | $1,194 | $100 |
| Boxster S 2-Dr Convertible | $276 | $524 | $354 | $20 | $106 | $1,280 | $107 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Rates do not factor in the specific area where the vehicle is garaged which can affect premiums considerably.
Based on this data, using a $250 deductible costs approximately $39 more each month or $468 each year than choosing the higher $1,000 deductible. Because you would pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you average more than 19 months between claim filings, you would more than likely save some money if you elect the higher deductible.
How to determine if raising deductibles makes sense
| Average monthly premium for $250 deductibles: | $143 |
| Average monthly premium for $1,000 deductibles (subtract): | – $104 |
| Monthly savings from raising deductible: | $39 |
| Difference between deductibles ($1,000 – $250): | $750 |
| Divide difference by monthly savings: | $750 / $39 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 19 months |
Impact of violations and accidents on rates
The diagram below demonstrates how traffic citations and at-fault fender-benders can impact Porsche Boxster insurance rates for each age group. The information is based on a single male driver, comp and collision included, $500 deductibles, and no discounts are factored in.
Rate comparison of full coverage and liability-only
The diagram below compares Porsche Boxster auto insurance rates with full physical damage coverage and with liability coverage only. Data assumes no claims, a clean driving record, $500 deductibles, drivers are not married, and no discounts are taken into consideration.
When to stop buying full coverage
There is no specific rule that is best for determining when to drop comprehensive and collision coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is more than around 10% of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.
For example, let’s assume your Porsche Boxster replacement value is $7,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $6,000 after paying the physical damage deductible. If you are paying more than $600 annually to have full coverage, then you might consider buying liability only.
There are a few situations where dropping physical damage coverage is not in your best interest. If you haven’t satisfied your loan, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not drop full coverage.
Miami auto insurance discounts
Not many people think insurance is cheap, but there are discounts available that could help you make your next renewal payment. Some trigger automatically when you get a quote, but once in a while a discount must be asked for prior to receiving the credit.
- Driver’s Ed – Teen drivers should take driver’s ed class as it can save substantially.
- Theft Prevention System – Cars and trucks equipped with anti-theft or alarm systems are stolen with less frequency and will save you 10% or more on Boxster insurance in Miami.
- Discounts for Government Workers – Simply working for the federal government may qualify for a discount when you quote Miami car insurance depending on your company.
- Sign Early and Save – A few companies offer discounts for buying a new policy early. This discount can save up to 10%.
- ABS and Traction Control Discounts – Anti-lock brake equipped vehicles have fewer accidents and earn discounts up to 10%.
- No Claim Discounts – Insureds who avoid accidents and claims pay much less in comparison to drivers with a long claim history.
Don’t be surprised that some credits don’t apply to the entire cost. Most cut the price of certain insurance coverages like liability and collision coverage. Just because it seems like you could get a free auto insurance policy, it’s just not the way it works. Any qualifying discounts will help lower your policy premiums.
The information below visualizes the comparison of Porsche Boxster car insurance costs with and without discounts applied to the policy premium. The price estimates are based on a female driver, no violations or claims, Florida state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, marriage, multi-car, homeowner, multi-policy, and safe-driver discounts applied.
Companies that may offer most of these discounts may include but are not limited to:
It’s a good idea to ask every prospective company to apply every possible discount. Depending on the company, some discounts may not apply to policyholders in your state. If you would like to view auto insurance companies that have a full spectrum of discounts in Florida, follow this link.
Do I need special coverages?
Always remember that when buying adequate coverage for your vehicles, there isn’t really a perfect coverage plan. Every situation is different so your insurance needs to address that.
These are some specific questions may help you determine whether your personal situation might need an agent’s assistance.
- What is the difference between comprehensive and collision coverage?
- Does my policy cover me when driving someone else’s vehicle?
- Can my teen drive my company car?
- Do I have newly-acquired coverage?
- What is motorclub and do I need it?
- When can my company non-renew my policy?
- If my pet gets injured in an accident are they covered?
- Are my custom wheels covered?
If you’re not sure about those questions but you know they apply to you, you might consider talking to a licensed agent. If you want to speak to an agent in your area, take a second and complete this form or you can also visit this page to select a carrier