Feel like you’re a prisoner to an overpriced car insurance policy? Believe me, you’re not alone.
Shockingly, the vast majority of car insurance customers in North Carolina have been with the same company for over three years, and about 40% of consumers have never taken the time to shop around. With the average premium in America being $1,847, drivers could save an average of almost $850 each year by just comparing quotes, but most just don’t grasp the rate savings if they swap their current policy for a cheaper one.
Steps to buying discount Porsche Cayenne insurance in Durham
The recommended way to find affordable quotes for Porsche Cayenne insurance in Durham is to compare quotes annually from companies in North Carolina.
Step 1: Try to learn a little about how car insurance works and the modifications you can make to prevent rate increases. Many risk factors that cause high rates like inattentive driving and a negative credit rating can be remedied by paying attention to minor details. This article provides information to help prevent high rates and find discounts that you may qualify for.
Step 2: Compare price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like Progressive or Allstate, while agents who are independent can provide rate quotes from multiple sources. Get quotes now
Step 3: Compare the price quotes to your existing rates to see if a cheaper rate is available in Durham. If you find better rates and change companies, verify that coverage does not lapse between policies.
Step 4: Give proper notification to your current agent or company of your decision to cancel the current policy. Submit a completed policy application and payment to your new company or agent. As soon as you can, place the new certificate verifying proof of insurance along with your vehicle registration.
The key aspect of shopping around is to try to compare the same physical damage deductibles and liability limits on every quote and and to look at as many car insurance companies as possible. Doing this ensures an apples-to-apples comparison and the best rate selection.
There are many insurers to insure vehicles with, and although it’s a good thing to be able to choose, it makes it harder to find the best rates for Porsche Cayenne insurance in Durham.
Do you qualify for discounts?
Insurance is not cheap nor is it fun to buy but there could be significant discounts to help bring down the price. Most are applied when you get a quote, but some discounts are required to be asked for before being credited.
- Defensive Driving Course – Taking time to complete a course in driver safety could earn you a small percentage discount and also improve your driving technique.
- Anti-lock Brakes – Cars, trucks, and SUVs with ABS and/or traction control have fewer accidents and therefore earn up to a 10% discount.
- Durham Homeowners Discount – Owning your own home or condo can earn you a little savings because of the fact that having a home shows financial diligence.
- Cautious Driver Discounts – Drivers without accidents can save as much as half off their rates than drivers with accidents.
- Memberships – Participating in specific professional or occupational memberships or organizations could qualify you for a break when getting a Durham auto insurance quote.
- Distant Student Discount – College-age children who are enrolled in higher education away from home and won’t have access to an insured vehicle could get you a discount.
Don’t be shocked that most of the big mark downs will not be given to the overall cost of the policy. Most only reduce the cost of specific coverages such as collision or personal injury protection. So when it seems like adding up those discounts means a free policy, it just doesn’t work that way.
The information below shows the comparison of Porsche Cayenne annual premium costs with and without discounts applied to the policy rates. The premium estimates are based on a female driver, no accidents, no driving violations, North Carolina state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, marriage, multi-policy, safe-driver, and multi-car discounts applied.
A few companies that may offer policyholders many of the previously listed discounts are:
When getting free Durham auto insurance quotes, it’s a good idea to all companies you are considering which credits you are entitled to. A few discounts might not be offered everywhere. To choose insurance companies who offer online Porsche Cayenne insurance quotes in North Carolina, click here to view.
Many insurance companies provide insurance quotes on the web. Getting quotes for Porsche Cayenne insurance in Durham is quite simple because it’s just a matter of typing in your required coverages into the form. Once entered, their system pulls your credit score and driving record and provides a quote based on the data you entered. Quoting online for Porsche Cayenne insurance in Durham makes comparing rates easy, and it is imperative to perform this step if you want to get the best rate on auto insurance.
If you want to find out if lower rates are available, compare rate quotes from the providers shown below. If you currently have coverage, we recommend you input your coverages exactly as shown on your declarations page. Using the same limits helps guarantee you’re receiving a rate comparison for exact coverage.
The providers in the list below offer comparison quotes in Durham, NC. If your goal is to find cheap car insurance in Durham, NC, it’s highly recommended you click on several of them to get a more complete price comparison.
Coverage statistics and figures
The coverage table shown next showcases estimates of insurance prices for Porsche Cayenne models. Having a good grasp of how insurance policy premiums are figured can help guide drivers when making smart choices when choosing a car insurance company.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cayenne | $262 | $506 | $302 | $18 | $90 | $1,178 | $98 |
| Cayenne S | $286 | $572 | $302 | $18 | $90 | $1,268 | $106 |
| Cayenne GTS | $286 | $638 | $302 | $18 | $90 | $1,334 | $111 |
| Cayenne S Transyberia | $286 | $638 | $302 | $18 | $90 | $1,334 | $111 |
| Cayenne GTS PD Edition 3 | $310 | $706 | $302 | $18 | $90 | $1,426 | $119 |
| Cayenne Turbo | $334 | $706 | $302 | $18 | $90 | $1,450 | $121 |
| Cayenne Turbo S | $382 | $838 | $302 | $18 | $90 | $1,630 | $136 |
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Above prices assume single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, homeowner, and safe-driver. Price information does not factor in specific Durham garaging location which can modify coverage prices substantially.
Men versus women drivers and insurance cost
The chart below compares Porsche Cayenne insurance rates for male and female drivers. The premiums assume a clean driving record, no claims, comprehensive and collision coverage, $100 deductibles, drivers are not married, and no policy discounts are applied.
Rate difference between full and liability-only coverage
The example below illustrates the difference between Porsche Cayenne insurance costs with full coverage and liability only. The data is based on no violations or accidents, $500 deductibles, drivers are not married, and no policy discounts are applied.
Should you pay for full coverage?
There is no definitive formula for dropping full coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is more than around 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.
For example, let’s pretend your Porsche Cayenne claim settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, you would only receive $8,000 after paying your deductible. If it’s costing you more than $800 annually for full coverage, then it’s probably a good time to buy liability coverage only.
There are some situations where only buying liability is not financially feasible. If you still owe a portion of the original loan, you have to carry full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should not eliminate full coverage.
Porsche Cayenne Insurance Costs Can Be More Affordable
Lots of factors are part of the calculation when pricing auto insurance. Some are obvious like an MVR report, although others are not as apparent like your vehicle usage or how safe your car is.
- Bad credit hurts insurance costs – Your credit history can be an important factor in determining what you pay. Drivers who have high credit scores tend to be better drivers and file fewer claims than drivers who have lower ratings. Therefore, if your credit rating leaves room for improvement, you may save money insuring your Porsche Cayenne if you improve your credit rating.
- Your address can push rates up or down – Being located in areas with lower population has definite advantages when buying car insurance. Less people means less chance of accidents as well as less vandalism and auto theft. People who live in big cities regularly have more traffic problems and more time behind the wheel. Longer commute distances can result in more accidents.
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Costs go up with performance – The performance level of the car you are insuring makes a substantial difference in your rates. Economy passenger cars generally have the cheapest insurance rates, but there are many factors that impact the final cost.
The chart below uses these assumptions: single male driver age 40, full coverage with $1000 deductibles, and no discounts or violations. It compares Porsche Cayenne policy rates compared to other models that have different performances.
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Avoid traffic tickets – Good drivers have lower premiums than bad drivers. Just one ticket may increase your cost forty percent or more. Drivers who have received dangerous citations like DUI, reckless driving or excessive speeding may be required to file a SR-22 with their state’s licensing department in order to legally drive.
The chart below demonstrates how speeding tickets and at-fault claims increase Porsche Cayenne insurance costs for different categories of driver ages. The premiums assume a married female driver, full physical damage coverage, $500 deductibles, and no additional discounts are factored in.
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Age of drivers impacts premiums – Youthful drivers in North Carolina are statistically proven to be careless and easily distracted when driving with friends so they pay higher car insurance rates. More experienced drivers are more cautious drivers, cause fewer claims and accidents, and usually have better credit.
The following data uses these assumptions: single driver, full coverage with $500 deductibles, and no discounts or violations.
- Pay more of a claim out-of-pocket – Coverage for physical damage, also known as collision and other-than-collision, helps pay for damage to your vehicle. Examples of covered claims are colliding with a building, hail damage, and damage from a fallen tree branch. Your deductibles define the amount you are required to pay before your car insurance pays a claim. The more expense you are required to pay out-of-pocket, the less your company will charge you for insurance.
- Policy add-ons add up – Insurance policies have a lot of additional extra coverages you can purchase on your car insurance policy. Insurance for replacement cost coverage, accidental death, and extra life insurance coverage are examples of these. The coverages may be enticing when deciding what coverages you need, but if they’re wasting money consider taking them off your policy.
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Porsche Cayenne claim data – Auto insurance companies include the past claim trends for vehicles when determining insurance costs. Models that historically have higher frequency or amount of claims will have higher rates for specific coverages. The table below illustrates the insurance loss data used by companies for Porsche Cayenne vehicles.
For each insurance policy coverage type, the claim amount for all vehicles as a whole is a value of 100. Numbers below 100 suggest a positive loss record, while values over 100 indicate more frequent losses or an increased probability of a larger loss.
Porsche Cayenne Insurance Loss Statistics 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 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Insurance agents can help
A lot of people still like to get professional advice from a licensed agent and doing so can bring peace of mind Good agents can point out coverage gaps and help you file claims. One of the great benefits of price shopping on the web is that drivers can save money and get lower rates and also buy local. And supporting local agents is still important in Durham.
After filling out this short form, your information is immediately sent to agents in your area who want to provide quotes and help you find cheaper coverage. You never need to even leave your home because prices are sent to you directly. If you want to compare rates for a specific company, you can always navigate to their website and submit a quote form there.
Finding the right company requires you to look at more than just a cheap price quote. You should also get answers to these questions.
- When do they do a full risk review?
- Who is covered by the car insurance policy?
- Do they offer rental car reimbursement?
- Has the agent ever had any license suspensions?
- Are there any discounts for paying up front?
Auto insurance is not optional in North Carolina
Despite the high cost, auto insurance is required by state law in North Carolina and it also provides benefits you may not be aware of.
- Almost all states have compulsory liability insurance requirements which means you are required to carry specific limits of liability in order to license the vehicle. In North Carolina 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.
- If you have a lien on your Porsche, it’s most likely the lender will require that you have insurance to guarantee loan repayment. If you let the policy lapse, the bank will be required to insure your Porsche at an extremely high rate and force you to pay much more than you were paying before.
- Auto insurance preserves your vehicle and your assets. Insurance will also pay for medical expenses for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If damage is caused by hail or an accident, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of buying enough insurance more than offset the price you pay, particularly if you ever have a claim. Today the average American driver is overpaying more than $865 each year so shop around each time the policy renews to ensure rates are inline.
Persistence will pay off
More affordable insurance in Durham can be purchased both online and from local agencies, so you should be comparing quotes from both to have the best selection. Some companies don’t offer the ability to get quotes online and many times these small insurance companies only sell coverage through independent agents.
We just showed you many ideas to lower your Porsche Cayenne insurance rates in Durham. The key concept to understand is the more quotes you get, the better chance you’ll have of finding affordable Durham auto insurance quotes. Consumers could even find that the best rates are with the least-expected company. These companies often have lower car insurance rates on specific markets than their larger competitors like Allstate, GEICO and Progressive.
Steps to finding discount Porsche Cayenne insurance in Durham
If saving the most money is your goal, then the best way to find low-cost prices for Porsche Cayenne insurance in Durham is to begin comparing prices regularly from insurance carriers who sell auto insurance in North Carolina. Drivers can shop around by completing these steps.
First, spend some time learning about what is in your policy and the measures you can control to keep rates low. Many risk factors that cause rate increases like distracted driving and an unfavorable credit rating can be amended by making minor changes in your lifestyle.
Second, compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give prices from a single company like GEICO or Allstate, while independent agents can quote rates from many different companies.
Third, compare the new rate quotes to your existing coverage to see if a cheaper price is available. If you find a lower rate and decide to switch, make sure coverage does not lapse between policies.
Fourth, provide proper notification to your current company of your intent to cancel your current policy and submit a completed policy application and payment to the new company. Once the paperwork is finalized, place your new certificate of insurance in an accessible location in your vehicle.
A valuable tip to remember is to use similar deductibles and liability limits on each quote request and and to compare as many different companies as possible. This provides an accurate price comparison and a thorough selection of prices.
To learn more, feel free to visit these articles:
- Frontal Crash Tests (iihs.org)
- How Much is Durham Car Insurance for Teenage Females? (FAQ)
- Who Has Cheap Durham Auto Insurance for Business Use? (FAQ)
- Rental Car Insurance Tips (Insurance Information Institute)
- Booster Seat Ratings (iihs.org)