Best Insurance for a Porsche Boxster in San Francisco

Inconceivable but true, a large majority of car insurance policyholders kept buying from the same company for at least the last four years, and nearly 40% of drivers have never taken the time to shop around. With the average premium in California being $1,387, drivers could save about $469 a year by just shopping around, but most just don’t grasp the actual amount they would save if they bought a different policy.

The easiest way to find cheaper quotes for Porsche Boxster insurance in San Francisco is to compare quotes once a year from different companies in California. You can compare prices by completing these steps.

1. Learn about how companies set rates and the measures you can take to prevent expensive coverage. Many rating criteria that drive up the price like getting speeding tickets and a negative credit rating can be amended by making minor changes in your lifestyle. Keep reading for more ideas to get lower rates and find additional discounts.
2. Obtain price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give prices from one company like Progressive or Farmers Insurance, while independent agencies can quote rates from many different companies.
3. Compare the new rates to your existing rates to see if you can save by switching companies. If you can save some money and make a switch, make sure there is no coverage gap between policies.

The key thing to know about shopping around is that you use similar limits and deductibles on each quote and and to compare as many companies as feasibly possible. Doing this ensures an apples-to-apples comparison and a thorough price selection.

Shopping for cheaper car insurance policy in San Francisco is not as confusing as people think. Essentially each driver who shops for car insurance stands a good chance to find a cheaper policy. Although California consumers must comprehend how companies determine how much to charge and apply this information to your search.

When quoting insurance, remember that getting more free quotes increases your odds of finding more affordable rates.

The auto insurance companies shown below provide free quotes in California. If multiple companies are shown, it’s highly recommended you visit two to three different companies in order to find the cheapest rates.

Best reasons to buy auto insurance in California

Even though it can be expensive, auto insurance may be required for several reasons.

• Almost all states have compulsory liability insurance requirements which means the state requires a minimum amount of liability insurance coverage if you don’t want to risk a ticket. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
• If your Porsche has a lienholder, more than likely the lender will make it mandatory that you have full coverage to protect their interest in the vehicle. If you let the policy lapse, the bank may buy a policy for your Porsche at a much higher premium rate and require you to fork over for the expensive policy.
• Insurance protects your vehicle and your assets. It also can pay for medical expenses for not only you but also any passengers injured in an accident. As part of your policy, liability insurance will also pay attorney fees if someone files suit against you as the result of an accident. If you have damage to your Porsche as the result of the weather or an accident, your auto insurance policy will pay all costs to repair after the deductible has been paid.

The benefits of insuring your car definitely exceed the price paid, especially when you need to use it. The average driver in California is currently overpaying as much as $810 a year so compare rates at every renewal to save money.

Rate information and statistics

The price information displayed next outlines estimates of insurance prices for Porsche Boxster models. Having a better idea how insurance policy premiums are figured is important to be able to make decisions when shopping around.

Premium data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Table data does not factor in vehicle location which can increase or decrease prices substantially.

Physical damage deductible comparison

One of the more difficult decisions when buying car insurance is how high should the physical damage deductibles be. The rates below can help you visualize the costs and benefits of buying low and high insurance deductibles. The first set of prices uses a $250 deductible for comprehensive and collision coverage and the second set of rates uses a $500 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Table data does not factor in specific location information which can impact rates greatly.

Based on this data, using a $250 deductible will cost you roughly $23 more each month or $276 each year than buying the higher $500 deductible. Due to the fact that you would have to pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you tend to go at a minimum 11 months between claims, you would probably be better off if you elect the higher deductible.

Does full coverage make sense?

The illustration below shows the difference between Porsche Boxster insurance costs with liability coverage only compared to full coverage. The premiums assume no claims or driving citations, $250 deductibles, single marital status, and no additional discounts are factored in.

When to stop paying for full coverage

There isn’t a steadfast formula for eliminating full coverage, but there is a general convention. If the annual cost of having full coverage is about 10% or more of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.

For example, let’s pretend your Porsche Boxster book value is $5,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after paying the physical damage deductible. If you are paying over $400 a year for your policy with full coverage, then it might be time to consider dropping full coverage.

There are some scenarios where removing full coverage is not recommended. If you haven’t satisfied your loan, you have to carry full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not remove full coverage.

Lower-cost San Francisco auto insurance rates with discounts

Auto insurance is not an enjoyable expense, but you might find some hidden discounts that you may not even know about. Some discounts apply automatically when you purchase, but a few must be asked for before you will receive the discount. If you don’t get every credit you qualify for, you’re just leaving money on the table.

• Theft Prevention Discount – Cars and trucks with anti-theft systems can help prevent theft and earn discounts up to 10% off your San Francisco auto insurance quote.
• Save with More Vehicles Insured – Drivers who insure all your vehicles on one policy can reduce the rates for all insured vehicles.
• Service Members Pay Less – Being on active deployment in the military may qualify for rate reductions.
• 55 and Retired – Older drivers may receive a small discount on rates.
• Full Payment Discount – If you pay your bill all at once as opposed to paying monthly you could save 5% or more.

It’s important to note that most of the big mark downs will not be given to your bottom line cost. The majority will only reduce individual premiums such as physical damage coverage or medical payments. Despite the fact that it seems like adding up those discounts means a free policy, companies don’t profit that way.

The chart below shows the comparison of Porsche Boxster car insurance costs with and without discounts being applied to the rates. The rate quotes are based on a female driver, no claims or driving citations, California state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, safe-driver, multi-policy, multi-car, marriage, and claim-free discounts applied.

To see a list of auto insurance companies who offer online Porsche Boxster insurance quotes in San Francisco, click here to view.

Which policy gives me the best coverage?

When choosing the best insurance coverage for your vehicles, there really is not a cookie cutter policy. Your needs are unique to you.

These are some specific questions can aid in determining whether you will benefit from professional help.

• Am I covered if I break a side mirror?
• What is high-risk coverage and where do I buy it?
• Is my dog or cat covered if injured in an accident?
• Is borrowed equipment or tools covered if stolen or damaged?
• Does my policy cover me if I wreck while driving under the influence?
• Why are teen drivers so expensive to add on to my policy?

If you can’t answer these questions then you might want to talk to a licensed agent. If you want to speak to an agent in your area, take a second and complete this form.