Cheap Insurance for a Porsche Panamera in San Jose

The best way to find more affordable auto insurance rates is to regularly compare quotes from companies in San Jose.

• Step 1: Take a few minutes and learn about how your policy works and the steps you can take to prevent expensive coverage. Many rating factors that result in higher prices such as traffic citations and poor credit history can be remedied by making minor changes in your lifestyle.
• Step 2: Quote rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from one company like GEICO or Farmers Insurance, while agents who are independent can provide price quotes from multiple companies. Compare rates
• Step 3: Compare the new quotes to your current policy and determine if cheaper Panamera coverage is available in San Jose. If you find better rates and make a switch, ensure coverage does not lapse between policies.
• Step 4: Provide notification to your current company to cancel your current coverage and submit the application along with any required down payment to your new company or agent. Be sure to store the certificate verifying coverage in your vehicle’s glove compartment or console.

The key thing to remember is to try to use identical limits and deductibles on every quote and and to get price quotes from as many companies as possible. Doing this provides a level playing field and a thorough selection of prices.

It goes without saying that car insurance companies don’t want their customers to go rate shopping. People who compare rates once a year are highly likely to buy a new policy because of the good chance of finding better rates. A recent survey revealed that people who routinely shopped for cheaper coverage saved over $70 a month compared to people who never compared other company’s rates.

If finding the cheapest rates on auto insurance is the reason for your visit, then having a good understanding how to find and compare insurance premiums can help make the process easier.

The companies in the list below provide price comparisons in San Jose, CA. If multiple providers are shown, it’s a good idea that you compare several of them to find the cheapest auto insurance rates.

Lower rates by qualifying for discounts

Auto insurance companies do not advertise all possible discounts very clearly, so we took the time to find some of the more common and the more hidden credits available to you.

• Drivers Ed for Students – Reduce the cost of insurance for teen drivers by having them complete a driver education course if it’s offered in school.
• Passive Restraints and Air Bags – Factory options such as air bags or motorized seat belts can qualify for discounts of up to 25% or more.
• 55 and Retired – Older drivers may receive a slight reduction on a San Jose car insurance quote.
• Telematics Devices – Insureds who allow their company to spy on driving habits by using a telematics device in their vehicle such as State Farm’s In-Drive may get a rate reduction if they have good driving habits.
• No Claim Discounts – Insureds who avoid accidents and claims can save substantially when compared with insureds who have frequent claims or accidents.
• Safety Restraint Discount – Drivers who always wear seat belts and also require passengers to wear their seat belts can save 10% or more off the PIP or medical payment premium.
• New Vehicle Savings – Putting insurance on a new Panamera can save you some money because new vehicles have to meet stringent safety requirements.

Discounts reduce rates, but you should keep in mind that some of the credits will not apply to the entire policy premium. Most only apply to specific coverage prices like physical damage coverage or medical payments. Despite the appearance that you could get a free car insurance policy, you aren’t that lucky. Any qualifying discounts should definitely cut your overall bill.

The information below visualizes the comparison of Porsche Panamera insurance prices with and without some available policy discounts. The rates are based on a female driver, no claims or driving citations, California state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, claim-free, multi-policy, multi-car, and marriage discounts applied.

The best car insurance companies and some of the discounts are:

• State Farm offers discounts including defensive driving training, student away at school, good driver, Steer Clear safe driver discount, and good student.
• Farmers Insurance offers premium reductions for alternative fuel, multi-car, youthful driver, electronic funds transfer, bundle discounts, mature driver, and switch companies.
• GEICO has savings for federal employee, seat belt use, anti-theft, multi-vehicle, five-year accident-free, anti-lock brakes, and emergency military deployment.
• American Family may offer discounts for accident-free, mySafetyValet, bundled insurance, TimeAway discount, and air bags.
• Nationwide policyholders can earn discounts including defensive driving, business or organization, anti-theft, accident-free, multi-policy, family plan, and easy pay.
• Progressive discounts include online quote discount, homeowner, continuous coverage, multi-policy, and multi-vehicle.

Before buying, ask all companies you are considering how you can save money. Some of the earlier mentioned discounts may not apply to policyholders in San Jose. To choose car insurance companies with discount car insurance rates in California, follow this link.

Statistics and details

The table displayed below showcases a range of rate quotes for Porsche Panamera models. Learning how auto insurance premiums are formulated helps drivers make smart policy decisions.

Price data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Prices do not factor in vehicle garaging location which can lower or raise auto insurance rates substantially.

How high should deductibles be?

One of the hardest decisions when shopping for auto insurance is how high should the deductibles for physical damage be. The comparisons below can help show the rate differences when you buy lower versus higher deductibles. The first rate quote example uses a $100 physical damage coverage deductible and the second price grid uses a $1,000 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Price information does not factor in San Jose location which can raise or lower premiums noticeably.

Based on these figures, using a $100 deductible could cost the average driver approximately $86 more each month or $1032 a year than buying the higher $1,000 deductible. Since you would pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you go at least 10 months between claim filings, you would more than likely save some money by going with a higher deductible.

The chart below highlights how deductible choice and can affect Porsche Panamera insurance costs for different age groups. The price estimates are based on a single female driver, comprehensive and collision coverage, and no additional discounts are factored in.

What Determines Porsche Panamera Insurance Prices?

Many factors are taken into consideration when pricing auto insurance. Some factors are common sense like a motor vehicle report, although others are not quite as obvious such as whether you are married or how financially stable you are.

The following are some of the major factors that factor into your premiums.

• Bad credit hurts insurance rates – Your credit history factor in determining what you pay. Therefore, if your credit score could use some work, you may save money insuring your Porsche Panamera by taking the time to improve your credit score. Drivers who have very high credit ratings tend to file fewer claims and have better driving records than drivers who have worse credit.
• Do you have enough liability insurance? – The liability section of your policy is the coverage that protects you if ever you are found liable for damages caused by your negligence. Liability provides you with a defense in court which can cost thousands of dollars. Liability insurance is pretty cheap compared to physical damage coverage, so buy as much as you can afford.

• Fast cars cost more to insure – The type of car or truck you own makes a substantial difference in your car insurance bill. Smaller low performance passenger models generally have the cheapest insurance rates, but the final cost of insurance is determined by many other factors.

  The following data is based on a married male driver age 20, full coverage with $100 deductibles, and no discounts or violations. It illustrates Porsche Panamera rates compared to other models that have different performance rating factors.

• Accidents drive up rates – Having a single ticket could increase your next policy renewal twenty percent or more. Careful drivers tend to pay less for car insurance as compared to those with violations. Drivers with severe tickets like DUI or reckless driving may face state-mandated requirements to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to prevent a license revocation.

  The chart below illustrates how violations and fender-benders can increase Porsche Panamera annual premium costs for each age group. The premiums are based on a single male driver, full coverage, $250 deductibles, and no discounts are applied to the premium.

• High comp and collision deductibles reduce prices – Comp and collision deductibles are the amount of money you are required to pay if a claim is determined to be covered. Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Some instances where coverage would apply would be colliding with a stationary object, hail damage, and having a roll-over accident. The more of the claim you are required to pay out-of-pocket, the less your company will charge you for insurance.
• GPS tracking and theft deterrents systems cut rates – Owning a car that has a built-in theft deterrent system can help lower your premiums. Theft prevention devices such as OnStar, LoJack tracking, and tamper alarms can help prevent your car from being stolen.
• Infrequent drivers can save – The more you drive your Porsche in a year the higher your rates will be. Most insurance companies price each vehicle’s coverage based on how the vehicle is used. Vehicles used primarily for pleasure use can get a lower rate as compared to vehicles used primarily for driving to work. A policy that improperly rates your Panamera is throwing money out the window. Double check that your car insurance coverage is rated on the correct usage for each vehicle.

• Men tend to take more risk – Over the last 50 years, statistics have shown that females tend to be a little less risky than males. This data doesn’t prove that females are better drivers. Both sexes have fender benders in similar numbers, but the males cause more damage and cost insurance companies more money. In addition to higher claims, males also get more serious tickets like DWI (DUI) or reckless driving. Teenage male drivers are the most expensive to insure so it costs more to insure them.

  The illustration below shows the difference between Porsche Panamera auto insurance rates for male and female drivers. The premiums are based on no claims or driving violations, comp and collision included, $500 deductibles, drivers are not married, and no discounts are applied.

• Loss probability for a Porsche Panamera – Companies use past insurance losses when they file their rates in each state. Vehicles that the statistics show to have increased claim numbers or amounts will have a higher premium rate. The table below outlines the collected loss data for Porsche Panamera vehicles.

  For each type of coverage, the claim amount for all vehicles, regardless of make, model or trim level, is considered to be 100. Values under 100 are indicative of better than average losses, while percentage numbers above 100 point to more claims or tendency to have larger claims.

  
  

  Porsche Panamera Insurance Loss Statistics

  Specific Porsche Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Porsche Panamera 4dr	236	94	265	57
  Porsche Panamera GTS 4dr 4WD	246	48	467
  Porsche Panamera Turbo 4dr 4WD	242

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Statistics from IIHS.org for 2013-2015 Model Years

When to contact an agent

Some consumers prefer to talk to a local agent and that is just fine! Good agents can make sure you are properly covered and will help you if you have claims. A nice benefit of price shopping on the web is that drivers can save money and get cheap insurance quotes and still choose a local agent. Supporting neighborhood agents is important especially in San Jose.

To find an agent, once you fill out this quick form, your coverage information is immediately sent to local insurance agents who can give free rate quotes for your insurance coverage. You never need to leave your computer because prices are sent straight to your inbox. If for some reason you want to compare rates from one company in particular, you would need to visit that company’s website and fill out the quote form the provide.

If you want to use a local insurance agency, you need to know there are two different agency structures and how they can service your needs differently. Agents in San Jose are either exclusive or independent. Either one can sell affordable insurance policies, but it’s important to point out the difference in the companies they write for because it can factor into your selection of an agent.

Independent Insurance Agencies or Brokers

Independent agents are normally appointed by many insurers so they can write business through many different insurance companies and find the cheapest rate. To move your coverage to a new company, they can switch companies in-house and you won’t have to switch agencies. When searching for an agent, it’s recommended you compare quotes from multiple independent agents so that you can do a thorough price comparison.

The following is a small list of independent agencies in San Jose that may be able to provide cheap rate quotes.

View more agents

Exclusive Insurance Agents

These type of agents can only place business with one company such as State Farm, AAA, and Liberty Mutual. Exclusive agents cannot place coverage with different providers so they have no alternatives for high prices. Exclusive agencies are well schooled on their company’s products which helps them compete with independent agents.

Below are exclusive insurance agencies in San Jose that can give you rate quotes.

View more agents

Picking the best auto insurance agent should depend on more than just the bottom line cost. Here are some questions you might want to ask.

• Do you need full coverage on every vehicle?
• Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
• Are they actively involved in the community?
• If your car is in the repair shop, do you have coverage for a rental car?
• Is the quote a firm price?

Cheaper car insurance rates are available

As you quote San Jose car insurance, it’s a bad idea to buy lower coverage limits just to save a few bucks. There have been many situations where drivers have reduced physical damage coverage to discover at claim time they didn’t have enough coverage. The aim is to buy enough coverage at the best price but still have enough coverage for asset protection.

We just covered a lot of techniques to find affordable Porsche Panamera insurance in San Jose. The most important thing to understand is the more price quotes you have, the more likely it is that you will get a better rate. Drivers may even discover the lowest premium rates are with a lesser-known regional company. Some small companies can often provide lower prices in certain areas compared to the large companies like Allstate and Progressive.

Even more information can be found in these articles:

• How Does Hitting a Deer Impact Insurance Rates? (Allstate)
• How Much is San Jose Auto Insurance for Drivers with a DUI? (FAQ)
• Driving in Bad Weather (Insurance Information Institute)
• Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)