Save Money on Porsche 911 Insurance in Detroit

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It's hard to fathom, but most consumers in Michigan kept their coverage with the same auto insurance company for a minimum of four years, and almost 40% of drivers have never taken the time to shop around. With the average premium in the United States being $1,847, drivers could save themselves nearly 46.5% a year by just comparing rate quotes, but they assume it's a waste of time to go online and compare rates.

Insurance for Porsche 911The most effective way to find the cheapest price for auto insurance rates is to start comparing rates regularly from different companies in Detroit.

  1. It will benefit you to learn about how auto insurance works and the measures you can take to keep rates in check. Many things that are responsible for high rates like getting speeding tickets and bad credit can be improved by being financially responsible and driving safely. This article gives more information to keep prices down and find discounts that you may qualify for.
  2. Get rate quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only provide price estimates from a single company like GEICO or Allstate, while independent agencies can provide prices from multiple companies. View a list of agents
  3. Compare the price quotes to your existing policy and determine if there is any savings. If you find a better price and change companies, make sure there is no lapse in coverage.
  4. Provide proper notification to your current company of your intention to cancel your current policy. Submit payment and a signed application to the new company. Once the paperwork is finalized, put the proof of insurance certificate with your vehicle's registration.

One important bit of advice is to use identical coverages on every quote and and to get price estimates from as many car insurance companies as possible. This ensures a fair price comparison and a complete rate analysis.

Coverage statistics and figures

The information displayed next showcases estimates of insurance prices for Porsche 911 models. Being aware of how policy rates are figured can be valuable when making informed decisions when comparing rate quotes.

Porsche 911 Insurance Rates in Detroit, MI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
911 Carrera 2 2-Dr Coupe $512 $1166 $662 $40 $198 $2,578 $215
911 Carrera 4 2-Dr Coupe $556 $1166 $662 $40 $198 $2,622 $219
911 Carrera 2 Cabriolet 2-Dr Convertible $556 $1166 $564 $34 $168 $2,488 $207
911 Carrera 2 S 2-Dr Coupe $556 $1166 $662 $40 $198 $2,622 $219
911 Carrera 4 Cabriolet 2-Dr Convertible $556 $1166 $564 $34 $168 $2,488 $207
911 Carrera 4S 2-Dr Coupe $556 $1276 $662 $40 $198 $2,732 $228
911 Carrera Targa 2-Dr Coupe $556 $1276 $662 $40 $198 $2,732 $228
911 Carrera 2 S 2-Dr Convertible $556 $1276 $564 $34 $168 $2,598 $217
911 Carrera 4S Cabriolet 2-Dr Convertible $600 $1166 $564 $34 $168 $2,532 $211
911 Carrera Targa S 2-Dr Coupe $600 $1276 $662 $40 $198 $2,776 $231
911 GT3 2-Dr Coupe $600 $1386 $662 $40 $198 $2,886 $241
911 GT3 RS 2-Dr Coupe $686 $1496 $662 $40 $198 $3,082 $257
911 Turbo 2-Dr Coupe $686 $1496 $662 $40 $198 $3,082 $257
911 Turbo 2-Dr Convertible $686 $1604 $564 $34 $168 $3,056 $255
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Data rating is based on married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Michigan minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Price information does not factor in your specific Detroit location which can change prices substantially.

Policy deductible comparison

When shopping for auto insurance, a common question is what deductibles to buy. The rates below can help illustrate the premium difference when you buy lower versus higher policy deductibles. The first set of rates uses a $250 deductible and the second data table uses a $500 deductible.

Porsche 911 insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
911 Carrera 2 2-Dr Coupe $808 $1700 $690 $40 $206 $3,469 $289
911 Carrera 4 2-Dr Coupe $876 $1700 $690 $40 $206 $3,537 $295
911 Carrera 2 Cabriolet 2-Dr Convertible $876 $1700 $586 $34 $176 $3,397 $283
911 Carrera 2 S 2-Dr Coupe $876 $1700 $690 $40 $206 $3,537 $295
911 Carrera 4 Cabriolet 2-Dr Convertible $876 $1700 $586 $34 $176 $3,397 $283
911 Carrera 4S 2-Dr Coupe $876 $1860 $690 $40 $206 $3,697 $308
911 Carrera Targa 2-Dr Coupe $876 $1860 $690 $40 $206 $3,697 $308
911 Carrera 2 S 2-Dr Convertible $876 $1860 $586 $34 $176 $3,557 $296
911 Carrera 4S Cabriolet 2-Dr Convertible $946 $1700 $586 $34 $176 $3,467 $289
911 Carrera Targa S 2-Dr Coupe $946 $1860 $690 $40 $206 $3,767 $314
911 GT3 2-Dr Coupe $946 $2020 $690 $40 $206 $3,927 $327
911 GT3 RS 2-Dr Coupe $1082 $2182 $690 $40 $206 $4,225 $352
911 Turbo 2-Dr Coupe $1082 $2182 $690 $40 $206 $4,225 $352
911 Turbo 2-Dr Convertible $1082 $2342 $586 $34 $176 $4,245 $354
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Porsche 911 insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
911 Carrera 2 2-Dr Coupe $658 $1372 $690 $40 $206 $2,966 $247
911 Carrera 4 2-Dr Coupe $712 $1372 $690 $40 $206 $3,020 $252
911 Carrera 2 Cabriolet 2-Dr Convertible $712 $1372 $586 $34 $176 $2,880 $240
911 Carrera 2 S 2-Dr Coupe $712 $1372 $690 $40 $206 $3,020 $252
911 Carrera 4 Cabriolet 2-Dr Convertible $712 $1372 $586 $34 $176 $2,880 $240
911 Carrera 4S 2-Dr Coupe $712 $1500 $690 $40 $206 $3,148 $262
911 Carrera Targa 2-Dr Coupe $712 $1500 $690 $40 $206 $3,148 $262
911 Carrera 2 S 2-Dr Convertible $712 $1500 $586 $34 $176 $3,008 $251
911 Carrera 4S Cabriolet 2-Dr Convertible $768 $1372 $586 $34 $176 $2,936 $245
911 Carrera Targa S 2-Dr Coupe $768 $1500 $690 $40 $206 $3,204 $267
911 GT3 2-Dr Coupe $768 $1630 $690 $40 $206 $3,334 $278
911 GT3 RS 2-Dr Coupe $880 $1758 $690 $40 $206 $3,574 $298
911 Turbo 2-Dr Coupe $880 $1758 $690 $40 $206 $3,574 $298
911 Turbo 2-Dr Convertible $880 $1888 $586 $34 $176 $3,564 $297
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Michigan minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Rate quotes do not factor in zip code location which can affect rates substantially.

Based on this data, we can arrive at the conclusion that using a $250 deductible will cost you roughly $46 more each month or $552 for a full year averaged for all 911 models than selecting the higher $500 deductible. Because you would pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you have more than 5 months between claims, you would probably save some money if you opt for a higher deductible.

How to determine when to raise your deductibles

Average monthly premium for $250 deductibles: $310
Average monthly premium for $500 deductibles (subtract): - $264
Monthly savings from raising deductible: $46
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $46
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 5 months

Full coverage versus liability-only in Detroit

The example below visualizes the comparison of Porsche 911 insurance premiums with full coverage and liability only. The premiums assume no violations or accidents, $100 deductibles, marital status is single, and no policy discounts are applied.

When to switch to liability coverage only

There is no clear-cut formula to stop paying for physical damage coverage, but there is a guideline you can consider. If the annual cost of your full coverage insurance is 10% or more of replacement cost minus your deductible, then you may want to consider only buying liability coverage.

For example, let's say your Porsche 911 replacement cost is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $7,000 after paying the physical damage deductible. If you are currently paying more than $700 a year for full coverage, the it may be a good time to stop paying for full coverage.

There are some circumstances where dropping full coverage is not a good idea. If you still have a loan on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not consider dropping full coverage.

Why Your Insurance Premiums might be higher

Many factors are taken into consideration when quoting car insurance. Some factors are common sense such as your driving record, although some other factors are more transparent like your vehicle usage and annual miles driven. One of the most helpful ways to save on car insurance is to to have a grasp of the different types of things that help determine your policy premiums. If you have a feel for what determines base rates, this enables informed choices that can earn you better car insurance rates.

Listed below are a few of the "ingredients" companies use to determine prices.

  • Add-on coverages that may not be needed - Insurance companies have many extra add-on coverages that you can buy if you aren't careful. Insurance for things like rental car reimbursement, death and dismemberment, and motor club memberships could be just wasting money. These coverages may sound good when buying your policy, but your money might be better spent on other coverage so think about removing them and cutting costs.
  • Gender and insurance coverage premiums - The statistics show women tend to be less risk to insure than men. The data does not necessarily mean that women are better drivers. Females and males are in auto accidents in similar numbers, but the male of the species get into accidents with more damage. Men also statistically get more serious tickets like reckless driving and DUI.

    The diagram below shows the comparison of Porsche 911 yearly insurance costs for male and female drivers. The rates are based on a clean driving record, no at-fault accidents, full coverage, $100 deductibles, marital status is single, and no discounts are applied to the premium.

  • Do you have enough liability? - Your car insurance policy's liability coverage will afford coverage if ever you are determined to be liable for personal injury or accident damage. Liability insurance provides legal defense coverage to defend your case. Liability is cheap when compared with rates for comp and collision, so drivers should make sure they buy enough to cover all assets.
  • Don't get traffic citations - Drivers with clean records pay lower auto insurance prices than bad drivers. Just one driving citation may cause rates to rise by as much as twenty percent. Drivers unfortunate enough to have careless violations like DUI, reckless driving or excessive speeding are required to prove financial responsibility to the state department of motor vehicles in order to keep their license.

    The illustration below illustrates how traffic citations and at-fault fender-benders can influence Porsche 911 insurance prices for each different age category. The information is based on a single male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied.

  • More traffic equals higher prices - Choosing to live in small towns and rural areas has it's advantages if you are looking for the lowest rates. People in densely populated areas tend to have more auto accidents and higher rates of accident claims. Fewer drivers on the road corresponds to lower accident rates in addition to fewer liability claims.
  • Prevent theft and save - Buying a car that has an advanced theft prevention system can help bring down rates. Anti-theft devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can thwart auto theft.
  • Get better rates if married - Being married may save some money on your policy. Having a significant other is viewed as being more mature than a single person and it's statistically proven that married drivers tend to have fewer serious accidents.
  • Insurance loss data for a Porsche 911 - Insurers use past insurance losses to help calculate a profitable premium price. Models that tend to have higher number or severity of losses will have a higher cost to insure.

    The information below illustrates the collected loss data for Porsche 911 vehicles. For each coverage category, the claim amount for all vehicles, without regard to make or model, is a value of 100. Numbers under 100 suggest losses that are better than average, while values that are above 100 indicate more frequent claims or an increased chance of larger losses than average.

    Insurance Loss Ratings for Porsche 911 Vehicles
    Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Porsche 911 Carrera 2dr 191 47 173 24
    Porsche 911 Carrera Convertible 197 51 224 36
    Porsche 911 Turbo 2dr 4WD 349 367
    BETTER
    AVERAGE
    WORSE

    Empty fields indicate not enough data collected
    Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Cheap auto insurance is out there

As you restructure your insurance plan, it's a bad idea to buy poor coverage just to save money. In many cases, an insured cut comprehensive coverage or liability limits to discover at claim time they didn't have enough coverage. Your goal is to purchase a proper amount of coverage at a price you can afford but still have enough coverage for asset protection.

We've covered a lot of ways to lower your Porsche 911 insurance prices in Detroit. It's most important to understand that the more rate quotes you have, the better your comparison will be. Consumers may even find the most savings is with a small local company.

Cheaper Porsche 911 insurance in Detroit is definitely available online and also from your neighborhood Detroit agents, and you need to comparison shop both in order to have the best price selection to choose from. Some insurance companies may not offer online rate quotes and usually these smaller providers prefer to sell through local independent agents.

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