Save Money on Porsche Cayman Insurance in New Orleans

Really, the only way to find the cheapest price for Porsche Cayman insurance in New Orleans is to do a yearly price comparison from providers that sell auto insurance in Louisiana. This can be done by following these steps.

First, try to learn about what is in your policy and the things you can control to prevent high rates. Many policy risk factors that are responsible for high rates like inattentive driving and a less-than-favorable credit history can be improved by being financially responsible and driving safely. This article provides the details to keep prices down and earn larger discounts.

Second, obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give prices from one company like GEICO or Allstate, while agents who are independent can quote prices from multiple sources. Begin your rate comparison

Third, compare the new rate quotes to the premium of your current policy and see if you can save money. If you can save money and switch companies, make sure coverage does not lapse between policies.

Fourth, give notification to your current company of your intent to cancel your current policy and submit payment and a signed application for the new coverage. When you receive it, place your new certificate verifying proof of insurance with the vehicle registration.

A tip to remember is that you’ll want to make sure you compare identical deductibles and limits on every price quote and and to compare every company you can. This guarantees an apples-to-apples comparison and the most accurate and complete price analysis.

Insurance rates Porsche Cayman in New OrleansIt’s easy to assume that car insurance companies don’t want policyholders to shop around. Drivers who shop around at least once a year will most likely switch to a new company because of the high probability of finding coverage at a cheaper rate. A survey found that consumers who regularly compared price quotes saved an average of $850 each year compared to policyholders who never shopped around for better prices.

If saving money on Porsche Cayman insurance is the reason you’re here, then understanding how to get rate quotes and compare cheaper coverage can save time and make the process easier.

Companies offering Porsche Cayman insurance in Louisiana

The auto insurance companies shown below provide free quotes in New Orleans, LA. If your goal is to find cheaper auto insurance in LA, we recommend you get rate quotes from several of them to find the cheapest auto insurance rates.

Rate information and statistics

The rate information shown next highlights estimates of rate quotes for Porsche Cayman models. Having a good grasp of how car insurance prices are established can help you make smart choices when buying a car insurance policy.

Porsche Cayman Insurance Rates in New Orleans, LA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayman 2-Dr Coupe $452 $854 $478 $28 $144 $1,956 $163
Cayman S 2-Dr Coupe $452 $954 $478 $28 $144 $2,056 $171
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Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Louisiana minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Rates do not factor in garaging location in New Orleans which can decrease or increase prices significantly.

An analysis of deductible level

One common question asked by New Orleans drivers is how high should the physical damage coverage deductibles be. The tables below highlight the premium difference between high and low physical damage deductibles. The first table uses a $100 deductible for comp and collision and the second set of prices uses a $1,000 deductible.

Porsche Cayman insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayman 2-Dr Coupe $554 $1108 $464 $28 $140 $2,319 $193
Cayman S 2-Dr Coupe $554 $1236 $464 $28 $140 $2,447 $204
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Porsche Cayman insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayman 2-Dr Coupe $308 $584 $464 $28 $140 $1,524 $127
Cayman S 2-Dr Coupe $308 $652 $464 $28 $140 $1,592 $133
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Louisiana minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Rate quotes do not factor in the specific area where the vehicle is garaged which can influence premiums considerably.

We can estimate from the data above that using a $100 deductible costs about $69 more each month or $828 annually than quoting the higher $1,000 deductible. Since the policyholder would be required to pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you average more than 13 months between claim filings, you would most likely save money by selecting a higher deductible. Below is an example of how we made this calculation.

Average monthly premium for $100 deductibles: $199
Average monthly premium for $1,000 deductibles (subtract): – $130
Monthly savings from raising deductible: $69
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $69
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 13 months

Accidents and violations increase rates

The information below shows how traffic citations and at-fault fender-benders influence Porsche Cayman auto insurance costs for different categories of driver ages. The rates are based on a single female driver, comp and collision included, $1,000 deductibles, and no other discounts are factored in.

Liability only or full coverage

The chart below illustrates the comparison of Porsche Cayman insurance costs with liability coverage only compared to full coverage. The data assumes no accidents, no driving violations, $1,000 deductibles, single marital status, and no discounts are applied.

Should you buy full coverage or liability only?

There is no definitive rule to exclude physical damage coverage on your policy, but there is a general school of thought. If the yearly cost of full coverage is more than around 10% of replacement cost minus your deductible, then it could be time to drop full coverage.

For example, let’s assume your Porsche Cayman book value is $6,000 and you have $1,000 deductibles. If your vehicle is destroyed, you would only receive $5,000 after the policy deductible has been paid. If it’s costing in excess of $500 a year for physical damage coverage, then you might want to think about dropping full coverage.

There are a few situations where removing full coverage is not in your best interest. If you haven’t satisfied your loan, you have to carry full coverage as part of the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not opt for liability only.

These discounts can lower your car insurance rates

Companies don’t necessarily list their entire list of discounts very well, so the list below gives a summary of a few of the more well known in addition to some of the lesser obvious credits that you can use to lower your rates.

As a sidenote, some of the credits will not apply to the overall cost of the policy. Most only apply to the price of certain insurance coverages like medical payments or collision. Despite the fact that it seems like having all the discounts means you get insurance for free, it doesn’t quite work that way. But all discounts will bring down the cost of your policy.

The diagram below shows the difference between Porsche Cayman car insurance costs with and without policy discounts. The rates are based on a female driver, a clean driving record, no at-fault accidents, Louisiana 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, safe-driver, homeowner, multi-car, marriage, and multi-policy discounts applied.

A few of the larger companies and some of the premium reductions they offer are outlined below.

Double check with all companies you are considering which discounts you qualify for. Some of the discounts discussed earlier may not be available in your area. If you would like to see a list of insurance companies with significant discounts in New Orleans, click this link.

Will just any policy work for me?

Always keep in mind that when comparing adequate coverage for your vehicles, there isn’t really a one-size-fits-all type of policy. Your needs are not the same as everyone else’s and your auto insurance should unique, too. These are some specific questions might point out whether or not you may require specific advice.

If you don’t know the answers to these questions but a few of them apply, you may need to chat with a licensed insurance agent. If you don’t have a local agent, complete this form or you can go here for a list of companies in your area.

You may require the services of an insurance agent

A lot of people would prefer to get advice from a local agent and there is nothing wrong with that. A nice benefit of price shopping on the web is the fact that drivers can get cheap rate quotes but still work with a licensed agent. Buying from local agents is important especially in New Orleans.

Insurance agents in New OrleansTo find an agent, once you fill out this form (opens in new window), your coverage information is immediately sent to local insurance agents who will give you quotes for your business. It’s much easier because you don’t need to contact an agency since price quotes are sent to you. It’s the lowest rates without requiring a lot of work. If you wish to get a price quote for a specific company, you would need to find their quoting web page and give them your coverage information.

Pick the best car insurance agent in New Orleans for you

When researching a reliable insurance agency, it’s helpful to know the different types of agents from which to choose. New Orleans agents can be categorized as either independent or exclusive.

Independent Agents (or Brokers)

Agents that elect to be independent are not restricted to one company and that allows them to write policies amongst many companies depending on which coverage is best. If you are not satisfied with one company, your agent can switch companies and you can keep the same agent.

When searching for an agent, we highly recommend that you check rates from multiple independent agents to ensure the widest selection of prices. A lot of them also have access to different regional companies which can save you money.

Below is a partial list of independent agencies in New Orleans who may provide price quote information.

More insurance agents

Exclusive Agents

Exclusive insurance agents can usually just insure with one company and examples are American Family, State Farm, and AAA. Exclusive agencies are unable to provide rate quotes from other companies so they have to upsell other benefits. Exclusive agents are very knowledgeable in insurance sales and that allows them to sell at a higher price point. Consumers sometimes buy insurance from these agents primarily because of the brand and solid financial strength.

The following are exclusive insurance agents in New Orleans that are able to give comparison quotes.

More insurance agents

Selecting an auto insurance agent requires more thought than just the premium amount. The answers to these questions are important, too.

Persistence will pay off

When getting New Orleans auto insurance quotes online, it’s very important that you do not buy lower coverage limits just to save a few bucks. There have been many cases where an insured dropped physical damage coverage only to regret that they should have had better coverage. Your focus should be to purchase plenty of coverage at the lowest possible cost.

Some insurance providers do not offer rate quotes online and many times these small insurance companies only sell coverage through independent agents. Discount Porsche Cayman insurance is available online and also from your neighborhood New Orleans agents, and you should be comparing both to have the best chance of lowering rates.

Much more information about auto insurance in Louisiana is available at these links: