If you want to save money, the best way to get low-cost Porsche Cayman insurance is to start comparing rates regularly from insurers who sell insurance in Colorado Springs.
First, take a few minutes and learn about individual coverages and the modifications you can make to prevent rate increases. Many things that result in higher prices such as speeding tickets, careless driving and a negative credit score can be rectified by making minor changes to your lifestyle. Keep reading for additional ideas to help prevent costly coverage and get discounts that may be overlooked.
Second, obtain price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from one company like GEICO or Farmers Insurance, while agents who are independent can quote prices for many different companies.
Third, compare the new quotes to your existing rates and determine if there is any savings. If you find better rates, make sure coverage does not lapse between policies.
Fourth, give proper notification to your current agent or company to cancel your current coverage. Submit payment along with a signed and completed policy application to your new agent or company. As soon as you receive it, put the new certificate of insurance somewhere easily accessible.
The key aspect of shopping around is that you use the same amount of coverage on each quote and and to analyze as many different insurance providers as possible. Doing this helps ensure the most accurate price comparison and maximum price selection.
It’s hard to fathom, but a large majority of drivers have been with the same company for a minimum of four years, and just under half have never quoted insurance rates at all. Colorado drivers could cut their rates by almost $610 a year just by shopping around, but they don’t want to take the time to go online and compare rates.
Cheap Porsche Cayman insurance in Colorado Springs
Companies don’t always advertise their entire list of discounts very well, so the list below details both well-publicized in addition to some of the lesser obvious ways to save on car insurance.
- Discounts for Seat Belt Usage – Buckling up and requiring all passengers to use their safety belts can save 10% or more on the medical payments or PIP coverage costs.
- More Vehicles More Savings – Insuring all your vehicles with the same company qualifies for this discount.
- Own a Home – Owning your own home or condo can help you save on car insurance because of the fact that having a home is proof of financial responsibility.
- Bundled Policy Discount – If you can combine your auto and homeowners policy and place coverage with the same company you could get a discount of 10% to 20% off each policy.
- Defensive Driver Discounts – Passing a defensive driving course could possibly earn you a 5% discount depending on where you live.
Drivers should understand that most credits do not apply to the entire policy premium. Most only cut specific coverage prices like liability, collision or medical payments. Even though the math looks like all those discounts means the company will pay you, insurance companies wouldn’t stay in business.
The information below compares Porsche Cayman car insurance costs with and without discounts applied to the premium. The premiums assume a female driver, no claims, a clean driving record, Colorado state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, multi-policy, marriage, safe-driver, and homeowner discounts applied.
A few of the larger companies and their offered discounts include:
- State Farm has discounts for accident-free, driver’s education, multiple autos, anti-theft, safe vehicle, and Steer Clear safe driver discount.
- Progressive has savings for homeowner, continuous coverage, online signing, multi-vehicle, good student, online quote discount, and multi-policy.
- Travelers includes discounts for hybrid/electric vehicle, multi-policy, continuous insurance, save driver, early quote, and home ownership.
- American Family offers premium reductions for mySafetyValet, defensive driver, TimeAway discount, air bags, early bird, and accident-free.
- Liberty Mutual may have discounts that include multi-car, safety features, teen driver discount, new move discount, hybrid vehicle, newly married, and preferred payment discount.
Double check with each company which discounts can lower your rates. Some discounts might not be offered on policies in every state. To see insurers who offer online Porsche Cayman insurance quotes in Colorado Springs, follow this link.
Porsche Cayman insurance quotes comparison
Finding a lower price on Porsche Cayman insurance is not a difficult process. All you need to do is spend a few minutes comparing rate quotes from different insurance companies.
Getting free rate quotes online is quite simple, and it makes it a waste of time to waste gas driving to and from local Colorado Springs insurance agencies. The fact that you can get quotes online makes this unnecessary unless you have a need for the professional abilities that only a licensed agent can provide. It is possible with some companies find lower rates online but have a local agent actually write the policy.
The companies shown below are our best choices to provide free rate quotes in Colorado Springs, CO. If you wish to find the best cheap car insurance in Colorado Springs, we recommend you visit as many as you can to get the best price comparison.
Auto insurance statistics for a Porsche Cayman
The information shown next outlines different insurance coverage prices for Porsche Cayman models. Understanding how insurance premiums are figured is important to be able to make decisions when shopping around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cayman 2-Dr Coupe | $224 | $498 | $456 | $28 | $136 | $1,342 | $112 |
| Cayman S 2-Dr Coupe | $224 | $556 | $456 | $28 | $136 | $1,400 | $117 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Prices do not factor in the specific area where the vehicle is garaged which can raise or lower coverage prices substantially.
Policy deductibles
One common question asked by Colorado Springs drivers is which deductibles should you choose. The premium rates below highlight the difference in cost between high and low coverage deductibles. The first rate estimation uses a $100 physical damage coverage deductible and the second rate chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cayman 2-Dr Coupe | $420 | $838 | $352 | $20 | $106 | $1,761 | $147 |
| Cayman S 2-Dr Coupe | $420 | $936 | $352 | $20 | $106 | $1,859 | $155 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cayman 2-Dr Coupe | $232 | $442 | $352 | $20 | $106 | $1,152 | $96 |
| Cayman S 2-Dr Coupe | $232 | $492 | $352 | $20 | $106 | $1,202 | $100 |
| Get Your Own Custom Quote Go | |||||||
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Premium amounts do not factor in specific Colorado Springs garaging location which can alter premium rates considerably.
Based on the above data, using a $100 deductible will cost you approximately $53 more each month or $636 annually averaged for all Cayman models than quoting the higher $1,000 deductible. Since the policyholder would be required to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you usually have at least 17 months between claim filings, you would probably save some money if you choose the higher deductible.
The diagram below illustrates how your choice of deductibles and can change Porsche Cayman insurance costs for each different age category. The premiums are based on a single male driver, full coverage, and no discounts are applied.
Does full coverage make sense?
The example below illustrates the comparison of Porsche Cayman insurance premiums with liability coverage only compared to full coverage. The premiums assume no accidents or driving violations, $100 deductibles, single status, and no policy discounts are applied.
Guidelines for dropping full coverage
There is no definitive rule of when to eliminate physical damage coverage, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than around 10% of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your Porsche Cayman book value is $9,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would receive is $8,000 after you pay the deductible. If you are paying more than $800 a year for physical damage coverage, then it might be time to consider dropping full coverage.
There are a few cases where removing full coverage is not a good idea. If you still have a lienholder on your title, you must maintain physical damage coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should keep full coverage in place.
Can’t I compare prices from local Colorado Springs car insurance agents?
Certain consumers prefer to sit down with an agent and that is recommended in a lot of cases Good insurance agents can help you build your policy and will help you if you have claims. An additional benefit of getting free rate quotes online is the fact that you can find better rates and still have a local agent. And providing support for local agencies is definitely important in Colorado Springs.
For easy comparison, once you complete this simple form, the quote information is instantly submitted to agents in your area who will give you quotes to get your business. There is no need to visit any agencies because quoted prices will be sent instantly to you. If you need to compare prices from a specific auto insurance provider, you can always go to their quote page and give them your coverage information.
If you want to use an insurance agent, there are a couple of types of agencies and how they function. Auto insurance policy providers can be categorized as either exclusive agents or independent agents. Either type can insure your vehicles, but it’s important to know the difference in how they write coverage since it can impact the kind of agent you use.
Independent Auto Insurance Agents (or Brokers)
Independent agencies are not locked into one company and that allows them to write policies with lots of companies and find you the best rates. If premiums increase, an independent agent can move your coverage and you stay with the same agent. If you are comparing rate quotes, we highly recommend that you compare quotes from independent agents for the best price selection.
Featured below is a list of independent agencies in Colorado Springs that may be able to give you price quotes.
Jensen Insurance Agency
125 N Parkside Dr #201f – Colorado Springs, CO 80909 – (719) 635-9557 – View Map
WIN Insurance Agency
3485 Academy Blvd N Ste 101 – Colorado Springs, CO 80917 – (719) 599-9494 – View Map
Mary Beth Stiltner Insurance Agency
1880 Dublin Blvd # C – Colorado Springs, CO 80918 – (719) 528-1555 – View Map
Exclusive Auto Insurance Agencies
These agents are contracted to one company like Farmers Insurance or State Farm. These agents are not able to give you multiple price quotes so they really need to provide good service. Exclusive agencies are well schooled on sales techniques which helps offset the inability to provide other markets.
Shown below are exclusive agencies in Colorado Springs that can give you rate quotes.
J.R. Rodney State Farm®
1825 Main St #D – Colorado Springs, CO 80911 – (719) 392-7366 – View Map
American Family Insurance – Diane Christensen
1957 W Uintah St – Colorado Springs, CO 80904 – (719) 477-1636 – View Map
Dave Beadles – State Farm Insurance Agent
308 W Fillmore St #106 – Colorado Springs, CO 80907 – (719) 632-5433 – View Map
Selecting an insurance agency needs to be determined by more than just the bottom line cost. The answers to these questions are important, too.
- Will you work with the agent or an assistant?
- Is the agency active in community causes in Colorado Springs?
- Are they primarily personal or commercial lines agents in Colorado Springs?
- Will you get a loaner vehicle if you car is being repaired?
- Do they prorate repair cost based on vehicle mileage?
- Are aftermarket or OEM parts used to repair vehicles?
If you feel you receive positive responses to these questions and locked in a price quote, you’ve probably found an auto insurance agent that is reputable and can properly insure your vehicles.
Buying the right vehicle insurance in Colorado is an important decision
Despite the fact that auto insurance is not cheap in Colorado Springs, auto insurance is required in Colorado but also provides important benefits.
First, most states have compulsory liability insurance requirements which means you are required to buy specific minimum amounts of liability protection in order to drive the car. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
Second, if you have a lien on your Porsche Cayman, it’s guaranteed your bank will force you to have full coverage to guarantee payment of the loan. If you do not keep the policy in force, the lender may insure your Porsche at an extremely high rate and require you to reimburse them much more than you were paying before.
Third, insurance safeguards both your assets and your car. It will also cover medical expenses for not only you but also any passengers injured in an accident. Liability insurance, one of your policy coverages, will also pay for a defense attorney if you cause an accident and are sued. If damage is caused by hail or an accident, comprehensive and/or collision insurance will pay to have it repaired.
The benefits of buying enough insurance definitely exceed the cost, especially when you need to use it. Unknowingly, the average driver is overpaying over $850 per year so you should quote your policy with other companies once a year at a minimum to make sure the price is not too high.
Car insurance coverage information
Having a good grasp of a car insurance policy can help you determine appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. Below you’ll find typical coverage types offered by car insurance companies.
Medical expense insurance – Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses like ambulance fees, X-ray expenses and pain medications. They are used to fill the gap from your health insurance policy or if you do not have health coverage. Medical payments and PIP cover all vehicle occupants as well as being hit by a car walking across the street. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage
Collision coverage – This coverage covers damage to your Cayman caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for claims such as sideswiping another vehicle, damaging your car on a curb and hitting a mailbox. Collision is rather expensive coverage, so consider dropping it from lower value vehicles. Another option is to increase the deductible on your Cayman to get cheaper collision coverage.
Liability coverages – This coverage will cover injuries or damage you cause to a person or their property that is your fault. It protects you against other people’s claims. It does not cover your injuries or vehicle damage.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 25/50/15 which stand for a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and a total limit of $15,000 for damage to vehicles and property. Occasionally you may see a combined limit which combines the three limits into one amount and claims can be made without the split limit restrictions.
Liability coverage pays for things such as pain and suffering, repair bills for other people’s vehicles, bail bonds and medical expenses. How much coverage you buy is a personal decision, but buy as high a limit as you can afford. Colorado requires minimum liability limits of 25/50/15 but it’s recommended drivers buy more coverage.
The chart below shows why buying the state minimum limits may not be enough coverage.
Comprehensive (Other than Collision) – This covers damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things like fire damage, damage from flooding, damage from a tornado or hurricane, a tree branch falling on your vehicle and hitting a deer. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Protection from uninsured/underinsured drivers – This protects you and your vehicle’s occupants from other drivers when they either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family and damage to your Porsche Cayman.
Since a lot of drivers only carry the minimum required liability limits (Colorado limits are 25/50/15), their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea. Usually the UM/UIM limits are set the same as your liability limits.
Best car insurance in Colorado Springs
Finding the right insurer can be a challenge considering how many choices drivers have in Colorado. The company information in the lists below could help you choose which auto insurance companies you want to consider when comparing rates.
Top 10 Colorado Springs Car Insurance Companies Ranked by Value
- USAA
- American Family
- The Hartford
- Titan Insurance
- The General
- Mercury Insurance
- AAA Insurance
- State Farm
- Nationwide
- Safeco
The best rates come from being thorough
You just learned a lot of techniques to compare Porsche Cayman insurance premium rates in Colorado Springs. The most important thing to understand is the more companies you get prices for, the better chance you’ll have of finding inexpensive Colorado Springs car insurance quotes. You may even be surprised to find that the best price on car insurance is with an unexpected company. Smaller companies may often insure only within specific states and give better rates than the large multi-state companies such as GEICO and State Farm.
When getting Colorado Springs car insurance quotes online, make sure you don’t buy lower coverage limits just to save a few bucks. In many cases, someone sacrificed collision coverage only to regret at claim time that the few dollars in savings costed them thousands. The aim is to get the best coverage possible at a price you can afford but still have enough coverage for asset protection.
More information can be found on the following sites:
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Who Has the Cheapest Colorado Springs Auto Insurance Rates for State Employees? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for a Ford Fusion in Colorado Springs? (FAQ)
- How Much is Auto Insurance for Low Credit Scores in Colorado Springs? (FAQ)
- How Much is Auto Insurance for a Dodge Grand Caravan in Colorado Springs? (FAQ)
- Who Has the Cheapest Colorado Springs Auto Insurance Quotes for Lyft Drivers? (FAQ)
- Who Has Cheap Car Insurance Quotes for Safe Drivers in Colorado Springs? (FAQ)
- Safety Belts FAQ (iihs.org)
- Understanding Car Crashes Video (iihs.org)
- Think You’re a Safe Driver? (State Farm)
- Understanding Your Insurance Deductible (Insurance Information Institute)