How to Compare Pittsburgh Porsche Cayman Insurance

When shopping for more affordable insurance, are you frustrated by the crazy number of insurance providers in Pittsburgh? Many other drivers are too. Pennsylvania people have so many providers to choose from that it can quickly become a big hassle to lower your rates for Porsche Cayman insurance in Pittsburgh. If you’ve ever been there, you know that Pittsburgh is a great place to live, but having to pay for pricey insurance can make it very difficult to make ends meet.

Insurance for Porsche CaymanIt’s safe to assume that insurance companies don’t want their customers to go rate shopping. Insureds who shop rates annually will probably buy a different policy because there is a good probability of finding lower rate quotes. A recent survey found that people who shopped around every year saved over $865 annually compared to drivers who don’t make a habit of comparing rates.

If finding the cheapest price for insurance in Pittsburgh is your ultimate goal, then having a good understanding how to quote prices and compare coverages can help you succeed in finding affordable rates.

It’s a good habit to quote other rates occasionally since prices tend to go up over time. Even if you think you had the best price on Porsche Cayman insurance in Pittsburgh last year you will most likely find a better rate today. There is a lot of wrong information about Cayman insurance on the web, but you can learn some great ways to put money back in your pocket.

Compare Porsche Cayman insurance rates

Just remember that making a lot of price comparisons provides better odds of finding a lower rate than you’re paying now.

The car insurance companies shown below have been selected to offer free quotes in Pennsylvania. If multiple companies are listed, we recommend you get prices from several of them in order to find the lowest rates.

Facts and figures for Porsche Cayman insurance

The premium information shown next covers detailed analysis of insurance premium costs for Porsche Cayman models. Learning as much as possible about how auto insurance premiums are calculated can be useful when making decisions when shopping your coverage around.

Porsche Cayman Insurance Rates in Pittsburgh, PA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayman 2-Dr Coupe $448 $786 $432 $26 $130 $1,822 $152
Cayman S 2-Dr Coupe $448 $876 $432 $26 $130 $1,912 $159
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Data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Pennsylvania minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Rates do not factor in your specific Pittsburgh location which can revise rates substantially.

Choosing deductibles

When shopping for insurance, a common question is at what level do you set your deductibles. The premium rates below may aid in understanding the differences in price when you select higher and lower physical damage coverage deductibles. The first rate comparisons uses a $250 physical damage deductible and the second pricing table uses a $500 deductible.

Porsche Cayman insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayman 2-Dr Coupe $352 $658 $330 $20 $98 $1,483 $124
Cayman S 2-Dr Coupe $352 $734 $330 $20 $98 $1,559 $130
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Porsche Cayman insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayman 2-Dr Coupe $286 $530 $330 $20 $98 $1,264 $105
Cayman S 2-Dr Coupe $286 $592 $330 $20 $98 $1,326 $111
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Pennsylvania minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, homeowner, and multi-policy. Premium costs do not factor in your specific Pittsburgh location which can increase or decrease coverage rates greatly.

Based on the data above, we can derive that using a $250 deductible costs roughly $19 more each month or $228 for a full year than choosing the higher $500 deductible. Due to the fact that you would have to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you go at least 13 months between claims, you would save money by selecting a higher deductible.

How to calculate deductible break even period

Average monthly premium for $250 deductibles: $127
Average monthly premium for $500 deductibles (subtract): – $108
Monthly savings from raising deductible: $19
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $19
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 13 months

One big caveat is that higher deductibles means you will have to pay more at claim time. You need to have some money saved in the event you have to pay more for the deductible.

The diagram below shows how different deductible levels and can raise or lower Porsche Cayman insurance costs for different age categories. The costs are based on a married male driver, full physical damage coverage, and no discounts are factored in.

Responsible drivers pay cheaper insurance rates

The information below demonstrates how citations and at-fault fender-benders can affect Porsche Cayman insurance rates for each age group. The rate quotes are based on a single female driver, full physical damage coverage, $100 deductibles, and no discounts are applied.

Insurance rates by age and gender

The example below illustrates the difference between Porsche Cayman yearly insurance costs for male and female drivers. The data assumes no violations or claims, comp and collision included, $500 deductibles, single marital status, and no policy discounts are applied.

Should you buy full coverage?

The illustration below shows the comparison of Porsche Cayman annual premium costs with and without physical damage coverage. Data assumes no claims or violations, $250 deductibles, single status, and no discounts are applied to the premium.

When to stop buying physical damage coverage

There is no clear-cut formula to exclude physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is more than 10% of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.

For example, let’s say your Porsche Cayman replacement cost is $8,000 and you have $1,000 deductibles. If your vehicle is severely damaged, you would only receive $7,000 after the policy deductible has been paid. If premium cost is more than $700 annually for full coverage, then it might be time to buy liability only.

There are some circumstances where removing full coverage is not in your best interest. If you still have a loan on your vehicle, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should keep full coverage in place.

How You Can Control Porsche Cayman Insurance Premiums

Many things are considered when quoting car insurance. Some factors are common sense like an MVR report, but some are not quite as obvious such as your credit history or how safe your car is.

Better credit means lower costs – An insured’s credit rating is a large factor in determining premium rates. If your credit score can be improved, you may save money insuring your Porsche Cayman if you clean up your credit. Drivers who have excellent credit tend to be more responsible and file fewer claims than drivers who have poor credit.

Urban residents pay more – Living in less populated areas of the country has definite advantages when talking about car insurance. Fewer drivers means fewer accidents and also fewer theft and vandalism claims. Drivers who live in large Pennsylvania cities tend to have congested traffic and higher rates of accident claims. Higher commute times means a statistically higher chance of an accident.

You might pay higher prices if you are single – Your spouse actually saves money when shopping for car insurance. It means you’re more stable financially and it’s statistically proven that drivers who are married file infrequent claims.

Expect high rates for teens – Mature drivers tend to be more responsible, file fewer claims, and get fewer tickets. Young drivers have a tendency to be inattentive when at the wheel of a vehicle therefore car insurance rates are much higher.

The next chart assumes a single driver, full coverage with $100 deductibles, and no discounts or violations.

Alarms and GPS tracking lower car insurance rates – Driving a car that has a built-in theft deterrent system can earn a premium discount. Anti-theft devices such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can thwart car theft.

High coverage deductibles equal low rates – Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, insures against damage to your Porsche. Some instances where coverage would apply are colliding with a building, damage caused by hail, and having your car stolen. Your deductibles tell how much you are willing to pay in the event of a claim. The more of the claim you are required to pay out-of-pocket, the less money you will pay for car insurance.

Insurance loss data for Porsche Cayman vehicles – Car insurance companies use past insurance losses to help set a rate to offset losses. Vehicles that historically have a trend towards higher claims will cost more for coverage. The table shown below demonstrates the insurance loss data used by companies for Porsche Cayman vehicles.

For each type of coverage, the claim amount for all vehicles, regardless of manufacturer or model, equals 100. Values that are below 100 imply a favorable loss record, while numbers that are greater than 100 point to more frequent losses or statistically larger losses.

Car Insurance Loss Data for Porsche Cayman Models
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Porsche Cayman 2dr 183 40 99 36

Empty fields indicate not enough data collected
Data Source: (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Protect more than your Porsche vehicle

Even though it’s not necessarily cheap to insure a Porsche in Pittsburgh, auto insurance may not be optional for several reasons.

The benefits of carrying enough insurance more than cancel out the cost, especially for larger claims. On average, a vehicle owner in Pittsburgh is overpaying over $825 a year so it’s important to compare rates every year to be sure current rates are still competitive.