2019 Porsche 718 Cayman Insurance Cost in 2024 – 7 Tips to Save

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: May 27, 2024

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Searching for cheaper insurance rates for your Porsche 718 Cayman? Nobody likes paying for insurance, particularly when it costs too dang much.

People have many car insurance companies to purchase coverage from, and though it is a good thing to be able to choose, lots of choices makes it harder to compare company pricing.

Auto insurance companies offer many types of discounts

Auto insurance is expensive, but there’s a good chance there are discounts that many consumers don’t even know exist. Some discounts will apply at the time of quoting, but lesser-known reductions have to be manually applied before you will receive the discount. If you do not double check each discount you deserve, you are paying more than you should be.

  • Early Switch Discount – A few larger companies allow discounts for signing up before your current expiration date. This can save 10% or more.
  • Good Drivers – Insureds who avoid accidents can pay as much as 50% less for 718 Cayman insurance than drivers with accident claims.
  • Military Discounts – Having an actively deployed family member could be rewarded with lower prices.
  • Paper-free Discount – A few larger online companies provide a small discount for completing your application online.
  • Discount for Good Grades – Excelling in school may save you up to 25%. Earning this discount can benefit you up to age 25.
  • Seat Belts Save – Drivers who require all occupants to buckle up before driving can save a little off PIP or medical payments premium.
  • Professional Memberships – Being in qualifying clubs or civic groups is a simple method to lower premiums on your next auto insurance statement.

Keep in mind that most credits do not apply to the overall cost of the policy. Some only reduce the price of certain insurance coverages like liability and collision coverage. If you do the math and it seems like having all the discounts means you get insurance for free, auto insurance companies aren’t that generous.

Companies and some of the premium reductions they offer are detailed below.

  • Esurance offers premium reductions for emergency road assistance, Switch & Save, good driver, claim free, and online shopper.
  • The Hartford may have discounts that include defensive driver, driver training, air bag, bundle, good student, vehicle fuel type, and anti-theft.
  • AAA may offer discounts for multi-policy, education and occupation, good student, good driver, AAA membership discount, and anti-theft.
  • GEICO has savings for driver training, emergency military deployment, membership and employees, anti-lock brakes, seat belt use, and defensive driver.
  • State Farm discounts include Drive Safe & Save, student away at school, driver’s education, good student, multiple autos, safe vehicle, and accident-free.

When getting a coverage quote, ask every prospective company which discounts you qualify for. A few discounts might not apply in your state.

Do I just need basic coverages?

When buying the best insurance coverage for your vehicles, there really is no best way to insure your cars. Everyone’s situation is unique so your insurance should reflect that These are some specific questions may help you determine if you might need professional guidance.

  • How do I insure my teen driver?
  • Can I make deliveries for my home business?
  • Is my teenager covered with friends in the car?
  • Does my policy cover my teen driver if they drive my company car?
  • Do I need roadside assistance coverage?
  • Is my nanny covered when driving my vehicle?

If you don’t know the answers to these questions but one or more may apply to you then you might want to talk to an insurance agent. To find an agent in your area, complete your zip code.

Brand name doesn’t guarantee savings

Companies like State Farm, Allstate and GEICO endlessly run television, radio, and online ads. They all say the same thing of big savings just by moving your policy. It sounds good, but how can they all charge less that you’re paying now?

Insurance companies have an ideal profile for the type of customer that will generate a profit. A good example of a driver they prefer might have to be over age 30, has no claims, and the vehicle is rated for pleasure use. Anyone who matches those parameters will get a cheap rate quote and therefore will pay quite a bit less when switching companies.

Consumers who do not match the “perfect” profile will get higher premiums which results in the customer not purchasing. The ad wording is “customers who switch” not “all people who quote” will save that much if they switch. That’s why companies can truthfully advertise the savings. This emphasizes why it’s extremely important to do a price quote comparison at every renewal. It’s impossible to know which company will be your best fit.

Insurance coverages 101

Having a good grasp of insurance can be of help when determining which coverages you need at the best deductibles and correct limits. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording. Listed below are the usual coverages available from insurance companies.

Comprehensive protection

Comprehensive insurance 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 things like rock chips in glass, damage from a tornado or hurricane, a broken windshield, a tree branch falling on your vehicle and damage from getting keyed. The highest amount a insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Medical expense coverage

Coverage for medical payments and/or PIP reimburse you for expenses for things like ambulance fees, chiropractic care and EMT expenses. They are often utilized in addition to your health insurance policy or if you lack health insurance entirely. It covers all vehicle occupants and also covers any family member struck as a pedestrian. PIP is not available in all states but can be used in place of medical payments coverage

Liability auto insurance

This protects you from damage that occurs to other’s property or people in an accident. This coverage protects you from legal claims by others. It does not cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 50/100/50 that translate to $50,000 bodily injury coverage, $100,000 for the entire accident, and property damage coverage for $50,000.

Liability coverage pays for things like structural damage, funeral expenses, repair costs for stationary objects, medical services and emergency aid. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible.

Coverage for collisions

Collision insurance will pay to fix damage to your 718 Cayman resulting from colliding with another vehicle or an object, but not an animal. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision insurance covers things such as rolling your car, colliding with a tree and crashing into a ditch. Paying for collision coverage can be pricey, so consider removing coverage from lower value vehicles. Another option is to choose a higher deductible to get cheaper collision coverage.

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries as well as your vehicle’s damage.

Since many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important.

A tidy conclusion

When trying to cut insurance costs, it’s very important that you do not skimp on critical coverages to save a buck or two. In many cases, someone dropped collision coverage and discovered at claim time they didn’t have enough coverage. Your focus should be to purchase plenty of coverage at the best price.

Some companies do not offer online quoting and these regional carriers sell through independent insurance agents. Affordable 2019 Porsche 718 Cayman insurance can be found online as well as from insurance agents, so compare prices from both in order to have the best chance of saving money.

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