Save Money on Porsche Boxster Insurance in Cincinnati

If your goal is the lowest price, then the best way to find more affordable Porsche Boxster insurance is to regularly compare quotes from companies that sell auto insurance in Cincinnati.

Step 1: Spend some time learning about how companies price auto insurance and the factors you can control to keep rates in check. Many policy risk factors that drive up the price like speeding and a less-than-favorable credit rating can be remedied by making lifestyle changes or driving safer.

Step 2: Request price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give prices from one company like Progressive or State Farm, while independent agencies can provide rate quotes from multiple companies.

Step 3: Compare the new rates to your current policy premium to see if a cheaper price is available in Cincinnati. If you find a lower rate, make sure there is no coverage gap between policies.

A good tip to remember is to make sure you’re comparing the same coverage limits and deductibles on each quote and to quote with every company you can. This helps ensure an accurate price comparison and maximum price selection.

It’s easy to assume that insurance companies don’t want you to look for cheaper rates. People who shop for lower rates will, in all likelihood, switch car insurance companies because they stand a good chance of finding discount prices. A study discovered that drivers who regularly shopped around saved $70 a month compared to people who never compared prices.

If finding the most affordable insurance in Cincinnati is your objective, then learning a little about the best ways to shop for cheaper coverage can save time and make the process easier.

Why Your Insurance Costs might be higher

Lots of factors are part of the calculation when you get a price on insurance. A few of the factors are predictable like your driving record, but some are more obscure such as whether you are married or your commute time. One of the most helpful ways to save on car insurance is to to have a grasp of the rating factors that help calculate your car insurance rates. If you have a feel for what impacts premium levels, this helps enable you to make changes that could result in cheaper rates.

Job and insurance premiums – Careers like military personnel, air traffic controllers, and medical professionals usually pay higher premium rates attributed to stressful work requirements and lots of time spent at work. On the flip side, occupations such as actors, athletes and the unemployed pay the least.

Performance makes a difference – The performance of the car or truck you own makes a big difference in your rates. Economy passenger cars usually are quite affordable to insure, but your final cost has many other factors.

The chart below assumes a married male driver age 20, full coverage with $250 deductibles, and no discounts or violations. It compares Porsche Boxster policy rates compared to other vehicles that have different performance rating factors.

Is car insurance cheaper for males or females? – Statistics show women are more cautious behind the wheel. That doesn’t necessarily mean that women are better drivers. Women and men are responsible for at-fault accidents in similar numbers, but the males get into accidents with more damage. Not only that, but men also get cited for more serious violations like reckless driving and DUI.

The chart below illustrates the difference between Porsche Boxster yearly insurance costs for male and female drivers. The prices are based on no violations or claims, full physical damage coverage, $1,000 deductibles, single status, and no additional discounts are factored in.

Good credit scores equal low premiums – Your credit rating can be a huge factor in your rate calculation. Therefore, if your credit can use some improvement, you could save money insuring your Porsche Boxster by improving your credit score. People that have good credit tend to be more responsible as compared to drivers with worse credit.

Limits of liability coverage – Your policy’s liability coverage is the protection if you are ruled to be at fault for causing damage or personal injury in an accident. Your liability coverage provides legal defense coverage to defend your case. It is affordable coverage compared to insuring for physical damage coverage, so drivers should buy more than the minimum limits required by law.

Teenagers vs. mature drivers – Young drivers in Ohio tend to be careless and easily distracted in a vehicle therefore car insurance rates are much higher. Older people are shown to be more cautious, statistically cause fewer accidents, and usually have better credit.

The next chart is based on a single driver, full coverage with $250 deductibles, and no discounts or violations.

Marriage is a good thing – Having a significant other may earn you lower rates compared to being single. Having a significant other translates into being less irresponsible and it’s proven that drivers who are married file infrequent claims.

Put fewer miles on your vehicle – The more you drive your Porsche every year the more it will cost to insure it. A lot of companies calculate prices based upon how you use the vehicle. Autos that do not get driven very much cost less to insure than vehicles that are driven to work every day. An improperly rated Boxster may be costing you. Ask your agent if your declarations sheet properly reflects how each vehicle is driven.

Insurance losses for a Porsche Boxster – Insurance companies factor in historical loss data when they set coverage costs for each model. Vehicles that the data shows to have increased claim numbers or amounts will have higher rates.

The next table illustrates the insurance loss data used by companies for Porsche Boxster vehicles. For each coverage category, the claim probability for all vehicles, as a total average, is equal to 100. Numbers below 100 mean the vehicle has better than average losses, while values over 100 point to more claims or an increased likelihood of larger losses.

Porsche Boxster coverage analysis

The information shown next outlines estimates of insurance costs for Porsche Boxster models. Having a better idea how auto insurance policy rates are figured helps drivers make decisions when choosing a new policy provider.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Premium amounts do not factor in the specific area where the vehicle is garaged which can increase or decrease price quotes noticeably.

Higher deductibles lower rates

When comparing car insurance rates, the most common question is the level to set your comp and collision deductibles. The rates below sum up the costs and benefits between low and high deductibles. The first pricing table uses a $100 physical damage deductible and the second data table uses a $1,000 deductible.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Price information does not factor in vehicle garaging location which can lower or raise insurance rates considerably.

We can estimate from the data above that using a $100 deductible could cost the average driver approximately $32 more each month or $384 a year averaged for all Boxster models than buying the higher $1,000 deductible. Since the policyholder would be required to pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to average more than 28 months between claims, you would probably save some money by selecting a higher deductible.

Comparison of full coverage and liability-only policies

The information below illustrates the comparison of Porsche Boxster premium costs with liability coverage only compared to full coverage. The costs are based on no claims, a clean driving record, $100 deductibles, drivers are not married, and no policy discounts are applied.

When to stop buying physical damage coverage

There is no written rule of when to phase out full coverage, but there is a broad guideline. If the annual cost of having full coverage is more than about 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.

For example, let’s pretend your Porsche Boxster claim settlement value is $7,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would receive is $6,000 after paying your policy deductible. If you are currently paying more than $600 annually for your policy with full coverage, then you might want to consider buying only liability coverage.

There are some conditions where buying only liability insurance is not recommended. If you still owe a portion of the original loan, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not buy liability only.

Lower rate quotes by receiving discounts

Some insurers do not advertise every discount available in an easy-to-find place, so the below list has some of the best known and the harder-to-find credits that may apply to you.

• More Vehicles More Savings – Insuring multiple cars or trucks on one policy qualifies for this discount.
• Save with a New Car – Adding a new car to your policy can save you some money since new model year vehicles are generally safer.
• No Claim Discounts – Insureds with no claims or accidents get the best auto insurance rates when compared to bad drivers.
• Theft Prevention Discount – Anti-theft and alarm system equipped vehicles are less likely to be stolen so companies will give you a small discount.
• Own a Home – Simply owning a home may earn you a small savings because owning a home means you have a higher level of financial diligence.
• Memberships – Being in certain professional organizations could trigger savings on auto insurance.
• Active Service Discounts – Being deployed in the military could trigger a small discount.
• ABS Braking Discount – Vehicles that have steering control and anti-lock brakes can avoid accidents and the ABS can save up to 10%.
• Waiver for an Accident – This one is not really a discount per se, but a handful of insurance companies will allow you to have one accident without the usual rate increase so long as you are claim-free for a set time period.
• Low Miles Discount – Fewer annual miles on your Porsche may allow you to get lower rates due to less chance of an accident.

You should keep in mind that most of the big mark downs will not be given to your bottom line cost. Some only reduce the cost of specific coverages such as collision or personal injury protection. Even though it appears you can get free auto insurance, you’re out of luck. But all discounts should help lower your policy cost.

The example below illustrates the difference between Porsche Boxster insurance costs with and without discounts applied to the rates. The costs are based on a female driver, no claims or driving violations, Ohio 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 multi-car, safe-driver, homeowner, claim-free, multi-policy, and marriage discounts applied.

To see a list of auto insurance companies who offer online Porsche Boxster insurance quotes in Ohio, click here.

Cincinnati auto insurance companies

Finding a high-quality company can be difficult considering how many different companies there are to choose from in Cincinnati. The ranking data in the lists below may help you decide which car insurance providers to look at to insure your vehicles.

Top 10 Cincinnati Car Insurance Companies Ranked by Value

1. USAA
2. GEICO
3. AAA Insurance
4. Erie Insurance
5. State Farm
6. Liberty Mutual
7. Safeco Insurance
8. Allstate
9. 21st Century
10. Travelers

Top 10 Cincinnati Car Insurance Companies Ranked by Customer Satisfaction

1. USAA – 92%
2. Erie Insurance – 88%
3. American Family – 88%
4. State Farm – 88%
5. Nationwide – 88%
6. 21st Century – 88%
7. AAA Insurance – 87%
8. Liberty Mutual – 87%
9. Farmers Insurance – 87%
10. The Hartford – 87%

You can lower your insurance rates

When trying to cut insurance costs, it’s not a good idea to skimp on critical coverages to save a buck or two. In many cases, someone dropped full coverage and found out when filing a claim that it was a big mistake. The aim is to get the best coverage possible for the lowest cost, but don’t skip important coverages to save money.

There are still a few companies who do not provide price quotes online and most of the time these regional carriers provide coverage only through independent insurance agencies. More affordable insurance in Cincinnati is definitely available from both online companies and also from your neighborhood Cincinnati agents, and you should compare price quotes from both to get a complete price analysis.

Additional information can be found at the links below

• Information for Teen Drivers (GEICO)
• What Insurance is Cheapest for Low Income Drivers in Cincinnati? (FAQ)
• Who Has Cheap Cincinnati Auto Insurance Quotes for a School Permit? (FAQ)
• Who Has the Cheapest Cincinnati Car Insurance Rates for a Dodge Ram? (FAQ)
• Who Has Affordable Cincinnati Auto Insurance for a 20 Year Old Male? (FAQ)
• How Much is Auto Insurance for Drivers with Accidents in Cincinnati? (FAQ)
• Who Has Affordable Car Insurance Rates for a Chevrolet Equinox in Cincinnati? (FAQ)
• How Much is Cincinnati Auto Insurance for Used Cars? (FAQ)
• Driving in Bad Weather (Insurance Information Institute)
• What are my Rights when Filing a Claim? (Insurance Information Institute)
• Neck Injury FAQ (iihs.org)