How to Save on Porsche Boxster Insurance in Dallas

It’s well known that car insurance companies don’t want policyholders to compare prices from other companies. People who compare rates once a year are highly likely to switch companies because of the good chance of finding better rates. Remarkably, a study showed that drivers who faithfully checked for cheaper rates saved over $865 a year compared to policyholders who never shopped around.

If finding the most affordable auto insurance in Dallas is your objective, knowing how to shop and compare coverages can save money and time.

Insurance for Porsche BoxsterThe best way to get budget Porsche Boxster insurance in Dallas is to compare prices once a year from companies that insure vehicles in Texas. Prices can be compared by completing these steps.

First, read about how auto insurance works and the things you can control to prevent expensive coverage. Many policy risk factors that cause rate increases like at-fault accidents and a substandard credit score can be controlled by being financially responsible and driving safely.

Second, request price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give prices from one company like GEICO and State Farm, while independent agencies can provide rate quotes from multiple sources. View companies

Third, compare the new rate quotes to the premium of your current policy and determine if cheaper Boxster coverage is available. If you can save some money, make sure there is no coverage gap between policies.

Fourth, provide proper notification to your current company of your intention to cancel your existing policy. Submit payment and a signed application for your new policy. Immediately upon receiving it, keep the new proof of insurance paperwork with your vehicle’s registration.

A good tip to remember is to make sure you’re comparing the same deductibles and limits on every quote request and and to compare as many carriers as you can. This ensures the most accurate price comparison and a complete price analysis.

How Car Insurance Companies Calculate Porsche Boxster Insurance Prices

A large part of saving on car insurance is knowing the different types of things that help determine the rates you pay for car insurance. If you have a feel for what determines premiums, this empowers consumers to make smart changes that may reward you with better car insurance rates.

The factors shown below are some of the things car insurance companies consider when setting your rate level.

Occupation stress can affect rates – Occupational choices like military generals, social workers, and miners tend to pay the highest rates due to intense work-related stress and long work days. Other occupations such as actors, students and the unemployed pay the least.

Deter vehicle theft – Owning a car with a theft deterrent system can help lower your rates. Systems that thwart thieves such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all hinder auto theft.

Type of car, truck or SUV determines base prices – The make and model of the car or truck you need insurance for makes a big difference in how high your rates are. The lowest premiums tend to be for low performance passenger cars, but there are many factors that impact the final cost.

The data below assumes a single male driver age 30, full coverage with $500 deductibles, and no discounts or violations. It shows Porsche Boxster rates compared to other makes and models that have different performances.

Which gender costs less? – Over time, data shows that men are more aggressive behind the wheel. The data does not necessarily mean that women are BETTER drivers than men. Both sexes get in at-fault accidents at a similar rate, but the males have costlier accidents. Men also statistically get higher numbers of serious violations like driving under the influence (DUI). Youthful male drivers are the most expensive to insure and therefore pay the highest rates.

The chart below visualizes the comparison of Porsche Boxster annual premium costs for male and female drivers. The costs are based on no claims or driving citations, full coverage, $1,000 deductibles, marital status is single, and no discounts are applied to the premium.

Insurance rates in urban areas – Choosing to live in a rural area can be a good thing when trying to find low car insurance rates. City drivers have to deal with more traffic problems and much longer commute distances. Less people living in that area means less chance of accidents as well as less vandalism and auto theft.

You might have higher prices if you are single – Your spouse actually saves money on your policy. It translates into being more stable financially and statistics prove married drivers tend to have fewer serious accidents.

Consolidate policies and save – Lots of insurance companies give a discount to policyholders that have more than one policy. It’s known as a multi-policy discount. Even though this discount sounds good, drivers will still want to comparison shop to confirm you are receiving the best rates possible.

Loss statistics for a Porsche Boxster – Insurance companies analyze historical claim data as a way to help calculate a profitable premium rate. Vehicles that the data shows to have higher losses will be charged more to insure.

The table shown below demonstrates the compiled insurance loss statistics for Porsche Boxster vehicles. For each coverage category, the statistical loss for all vehicles, regardless of manufacturer or model, is a value of 100. Values below 100 indicate better than average losses, while values over 100 point to more losses or a tendency for losses to be larger than average.

Auto Insurance Loss Data for Porsche Boxster Models
Specific Porsche Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Porsche Boxster Convertible 135 47 121 31

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

Auto insurance data for a Porsche Boxster

The coverage table displayed below showcases estimates of rate quotes for Porsche Boxster models. Having a good understanding how policy rates are formulated is important for you to make informed coverage decisions.

Porsche Boxster Insurance Rates in Dallas, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Boxster 2-Dr Convertible $322 $682 $310 $18 $94 $1,426 $119
Boxster S 2-Dr Convertible $354 $772 $310 $18 $94 $1,548 $129
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Above prices assume married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Rate quotes do not factor in Dallas location which can revise insurance rates greatly.

Raise deductibles and save

One of the hardest decisions when shopping for auto insurance is at what level do you set your deductibles. The rates below highlight the differences in premium rates between low and high comp and collision deductibles. The first set of rates uses a $100 physical damage coverage deductible and the second set of prices uses a $500 deductible.

Porsche Boxster insurance premium estimates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Boxster 2-Dr Convertible $412 $804 $324 $20 $96 $1,681 $140
Boxster S 2-Dr Convertible $454 $908 $324 $20 $96 $1,827 $152
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Porsche Boxster insurance premium estimates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Boxster 2-Dr Convertible $300 $542 $324 $20 $96 $1,282 $107
Boxster S 2-Dr Convertible $332 $614 $324 $20 $96 $1,386 $116
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Rate information does not factor in vehicle location which can decrease or increase coverage rates substantially.

Using the premium rates above, we can conclude that using a $100 deductible will cost you approximately $34 more each month or $408 every year than opting for the higher $500 deductible. Since the policyholder would be required to pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you tend to go more than 12 months between claims, you would save more money if you elect the higher deductible.

How to determine if higher deductibles are a good idea

Average monthly premium for $100 deductibles: $146
Average monthly premium for $500 deductibles (subtract): – $112
Monthly savings from raising deductible: $34
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $34
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 12 months

An important thing to remember is that raising deductibles to save money means you pay more out-of-pocket when you have to file a claim. That will necessitate some money saved in order to pay the deductible.

The information below shows how choosing a deductible and can raise or lower Porsche Boxster yearly insurance costs for different age categories. The information is based on a married male driver, comprehensive and collision coverage, and no policy discounts are applied.

Illustration showing the impact of accidents and violations

The chart below demonstrates how traffic citations and accident claims impact Porsche Boxster insurance premiums for each age group. The premium estimates are based on a single male driver, full coverage, $1,000 deductibles, and no discounts are applied.

Porsche Boxster liability-only versus full coverage

The chart below visualizes the comparison of Porsche Boxster yearly insurance costs with full physical damage coverage and with liability coverage only. The premium estimates are based on no violations or claims, $100 deductibles, single marital status, and no discounts are factored in.

Deciding between full coverage and liability only

There is no definitive guideline to eliminate physical damage coverage on your policy, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than about 10% of replacement cost minus your deductible, then you might want to consider buying only liability coverage.

For example, let’s say your Porsche Boxster settlement value is $7,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would receive is $6,000 after you pay the deductible. If it’s costing in excess of $600 a year for physical damage coverage, then you may need to consider dropping full coverage.

There are a few cases where removing full coverage is not advised. If you still owe money on your vehicle, you have to maintain full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.

Determine discounts to get cheap Dallas insurance quotes

Some insurance providers do not list all possible discounts very clearly, so we break down some of the best known and also the lesser-known discounts you could be receiving when you buy Dallas auto insurance online.Insurance discounts

You should keep in mind that some of the credits will not apply the whole policy. Most cut the price of certain insurance coverages like liability and collision coverage. So despite the fact that it appears all the discounts add up to a free policy, insurance companies wouldn’t stay in business.

The illustration below shows the difference between Porsche Boxster insurance costs with and without some available policy discounts. The premiums assume a male driver, no claims or driving violations, Texas state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, multi-car, marriage, safe-driver, and claim-free discounts applied.

To see insurance companies that can offer you the previously mentioned discounts in Dallas, click this link.

Be persistent and save

Low-cost Porsche Boxster insurance in Dallas is attainable on the web in addition to local insurance agencies, and you should compare rates from both to get a complete price analysis. There are still a few companies who may not offer online price quotes and many times these small, regional companies prefer to sell through independent insurance agents.

As you prepare to switch companies, it’s not a good idea to buy less coverage just to save a little money. There are a lot of situations where an insured dropped liability coverage limits and found out when filing a claim that saving that couple of dollars actually costed them tens of thousands. Your aim should be to buy enough coverage at a price you can afford but still have enough coverage for asset protection.

Insureds who switch companies do it for a variety of reasons including policy non-renewal, lack of trust in their agent, an unsatisfactory settlement offer or being labeled a high risk driver. It doesn’t matter what your reason, switching companies is pretty easy and you might even save some money in the process.

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