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2004 Porsche Carrera GT Insurance Rates

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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UPDATED: Jun 12, 2015

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Searching for the cheapest auto insurance rates for your Porsche Carrera GT? Tired of scraping the payment together each month for car insurance? You are in the same boat as many other drivers. Having so many options, it can be challenging to choose the lowest price company.

It’s a good idea to do rate comparisons yearly since insurance rates are usually higher with each renewal. If you had the best rates on Carrera GT coverage a few years ago the chances are good that you can find a lower rate today. Starting right now, forget anything you know (or think you know) about auto insurance because you’re going to learn the things you must know in order to lower your annual insurance bill.

Finding the best rates is easy if you know what you’re doing. If you are insured now or are looking for a new policy, you can learn to shop for the lowest rates and still get good coverage. Vehicle owners just need to learn the proper methods to compare prices over the internet.

Are you getting all your discounts?

Companies offering auto insurance don’t necessarily list all available discounts in an easy-to-find place, so we break down some of the more common and also the lesser-known ways to save on insurance. If they aren’t giving you every credit you qualify for, you’re paying more than you need to.

  • Multi-car Discount – Insuring more than one vehicle on one policy could earn a price break for each car.
  • Seat Belts Save – Drivers who require all occupants to use a seat belt can save up to 15% off your medical payments premium.
  • Employee of Federal Government – Being employed by or retired from a federal job could cut as much as 10% off on Carrera GT coverage with a few insurance companies.
  • Multiple Policy Discount – If you have multiple policies with the same company you may earn at least 10% off all policies.
  • Good Student – A discount for being a good student can save 20 to 25%. This discount can apply up to age 25.
  • Pay Now and Pay Less – By paying your policy upfront rather than paying monthly you could save up to 5%.
  • Auto/Life Discount – Select insurance companies reward you with better rates if you take out a life insurance policy as well.
  • Low Mileage – Keeping the miles down on your Porsche could qualify for lower rates on the low mileage vehicles.
  • Military Discounts – Being deployed with a military unit may qualify for rate reductions.
  • Driver’s Ed – Require your teen driver to successfully complete driver’s ed class if offered at their school.

As a disclaimer on discounts, most discounts do not apply to all coverage premiums. The majority will only reduce individual premiums such as physical damage coverage or medical payments. So even though they make it sound like it’s possible to get free car insurance, you won’t be that lucky.

A partial list of companies who might offer these money-saving discounts include:

Before buying, ask each insurance company which discounts you may be entitled to. Some discounts may not be available everywhere.

Tailor your coverage to you

When it comes to buying the best auto insurance coverage for your personal vehicles, there is no perfect coverage plan. Every insured’s situation is different and a cookie cutter policy won’t apply. For example, these questions might point out whether or not you will benefit from professional help.

  • Will I lose any money if I cancel my policy before it expires?
  • Does my 2004 Porsche Carrera GT qualify for pleasure use?
  • Do I need more liability coverage?
  • Why am I required to buy liability insurance?
  • Does insurance cover damages from a DUI accident?
  • What is the rate difference between pleasure use and commuting?
  • Can I make deliveries for my home business?

If you don’t know the answers to these questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It’s fast, free and may give you better protection.

Is there deception in advertising?

Consumers can’t get away from ads for car insurance savings from the likes of Progressive, GEICO, Allstate and State Farm. All the companies make an identical promise that you can save after switching your coverage to them.

But how can every company make the same claim?

Insurance companies are able to cherry pick for the right customer that earns them a profit. An example of a desirable insured could be over the age of 40, insures multiple vehicles, and drives less than 7,500 miles a year. A driver who matches those parameters is entitled to the best price and most likely will pay quite a bit less when switching companies.

Consumers who fall outside this ideal profile will be charged a more expensive rate which leads to business not being written. The ad wording is “drivers who switch” not “everyone that quotes” save that kind of money. That is how companies can truthfully make the claims of big savings. That is why it is so important to quote coverage with many companies. It’s not possible to predict the company that will provide you with the cheapest Porsche Carrera GT insurance rates.

Car insurance coverages for a Porsche Carrera GT

Having a good grasp of car insurance can be of help when determining appropriate coverage and the correct deductibles and limits. Policy terminology can be confusing and nobody wants to actually read their policy. Listed below are typical coverage types offered by car insurance companies.

Liability coverage – This coverage protects you from damage or injury you incur to a person or their property that is your fault. It protects you from legal claims by others. Liability doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show values of 100/300/100 which stand for a limit of $100,000 per injured person, $300,000 for the entire accident, and $100,000 of coverage for damaged property.

Liability insurance covers claims like repair costs for stationary objects, attorney fees and emergency aid. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as large an amount as possible.

Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage gives you protection from other drivers when they do not carry enough liability coverage. This coverage pays for injuries to you and your family as well as damage to your 2004 Porsche Carrera GT.

Since many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Medical payments coverage and PIP – Med pay and PIP coverage provide coverage for short-term medical expenses like ambulance fees, rehabilitation expenses and hospital visits. They can be used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. They cover you and your occupants and also covers if you are hit as a while walking down the street. PIP is not available in all states and may carry a deductible

Comprehensive coverage – This coverage pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive can pay for claims such as falling objects, a broken windshield and rock chips in glass. The maximum payout a car insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Collision coverage – This coverage covers damage to your Carrera GT resulting from a collision with an object or car. You have to pay a deductible and then insurance will cover the remainder.

Collision can pay for claims such as scraping a guard rail, backing into a parked car, crashing into a building, hitting a parking meter and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. It’s also possible to raise the deductible to get cheaper collision coverage.

What is YOUR best insurance company?

Lower-priced 2004 Porsche Carrera GT insurance is possible both online and with local insurance agents, and you should compare price quotes from both to have the best selection. There are still a few companies who do not offer the ability to get a quote online and many times these regional insurance providers only sell through independent insurance agents.

We just presented a lot of tips how to save on insurance. The most important thing to understand is the more quotes you get, the better likelihood of reducing your rate. You may be surprised to find that the lowest premiums are with some of the lesser-known companies. They may cover specific market segments cheaper as compared to the big name companies such as GEICO and State Farm.

For more information, link through to the articles below:

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