Sadly, a large majority of consumers kept their policy with the same company for over three years, and just short of a majority have never even shopped around for lower-cost coverage. With the average auto insurance premium being $1,376, Tennessee drivers can save hundreds of dollars each year by just comparing quotes, but they don't believe the actual amount they would save if they switched.
The best way we recommend to get discount Porsche Boxster insurance in Memphis is to compare quotes once a year from providers that sell auto insurance in Tennessee.
First, try to learn about how car insurance works and the modifications you can make to drop your rates. Many policy risk factors that result in higher rates such as your driving record and a poor credit rating can be eliminated by improving your driving habits or financial responsibility. Later in this article we will cover ideas to help prevent high rates and find overlooked discounts.
Second, quote rates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from a single company like GEICO or State Farm, while independent agencies can give you price quotes for a wide range of insurance providers. Select a company
Third, compare the new rates to the price on your current policy and see if there is a cheaper rate in Memphis. If you can save some money and change companies, ensure there is no coverage lapse between policies.
Fourth, notify your current company of your intent to cancel your current car insurance policy and submit payment along with a signed and completed policy application to your new carrier. As soon as you receive it, put the proof of insurance paperwork in a readily accessible location in your vehicle.
The most important part of this process is to try to compare similar deductibles and liability limits on each price quote and and to get price quotes from as many different companies as possible. Doing this enables an accurate price comparison and a complete price analysis.
Locating the best insurance company for you in Memphis seems hard but is not really that difficult. If you have a current auto insurance policy or just want a better rate, use these techniques to lower your rates without sacrificing coverage. Smart shoppers just need to know the most time-saving way to get comparison rates from many companies at once.
Cheap Porsche insurance prices in Memphis
The following companies have been selected to offer quotes in Memphis, TN. In order to find cheap auto insurance in Memphis, it's a good idea that you compare several of them to get the most affordable price.
Analysis of coverages
The information displayed next outlines estimates of rate quotes for Porsche Boxster models. Having a better idea how insurance policy rates are calculated is important for making decisions when shopping your coverage around.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Boxster 2-Dr Convertible||$256||$470||$252||$14||$76||$1,068||$89|
|Boxster S 2-Dr Convertible||$282||$530||$252||$14||$76||$1,154||$96|
|Get Your Own Custom Quote Go|
Data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Information does not factor in garaging location in Memphis which can affect premiums significantly.
The information below shows how different deductible levels and can increase or decrease Porsche Boxster premium costs for each different age category. The data is based on a single female driver, full physical damage coverage, and no additional discounts are factored in.
Full coverage rates vs. liability-only
The diagram below illustrates the comparison of Porsche Boxster insurance prices with and without full coverage. The premium estimates are based on no claims or violations, $1,000 deductibles, drivers are not married, and no policy discounts are applied.
Are you wasting money on full coverage?
There is no set guideline for eliminating physical damage insurance, but there is a general school of thought. If the annual cost of your full coverage insurance is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.
For example, let's assume your Porsche Boxster replacement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company will settle for is $3,000 after paying your deductible. If you are paying in excess of $300 a year to have full coverage, then it's probably a good time to buy liability coverage only.
There are a few situations where removing full coverage is not in your best interest. If you still have a loan on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not buy liability only.
Buy Porsche Boxster Insurance More Affordably
Lots of factors are considered when you quote your car insurance policy. Most are fairly basic such as your driving record, but other factors are more transparent such as your credit history or your commute time. Part of the auto insurance buying process is learning some of the elements that help calculate your auto insurance rates. If you have a feel for what determines premiums, this allows you to make educated decisions that could help you find better auto insurance rates.
Employer impacts rates - Jobs like military personnel, social workers, and emergency personnel generally have higher average rates because of job stress and extremely grueling work hours. Other professions such as scientists, athletes and retirees receive lower rates.
Safer cars lower prices - Cars with five star safety ratings can get you lower premiums. Safer cars reduce injuries and fewer serious injuries means your insurance company pays less and thus lower rates.
Cheaper auto insurance rates using GPS tracking and theft deterrents - Purchasing a vehicle with an alarm system can earn a premium discount. Anti-theft features like LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system all aid in stopping your vehicle from being stolen.
Policy add-ons may not be needed - There are a lot of add-on coverages that sound like a good idea at the time when buying auto insurance. Add-on coverages like vanishing deductibles, towing coverage, and term life insurance are examples of these. They may seem good when deciding what coverages you need, but if you've never needed them in the past get rid of them and save.
Is car insurance cheaper for males or females? - Statistics show women tend to be less risk to insure than men. That doesn't necessarily mean that females are better at driving than males. Both sexes are responsible for accidents at a similar rate, but the men tend to have more serious accidents. Not only are claims higher, but men get cited for more serious violations such as driving while intoxicated (DWI) or driving recklessly. Youthful male drivers are most likely to cause an accident and therefore are the most expensive to insure.
The information below illustrates the comparison of Porsche Boxster car insurance rates for male and female drivers. The price estimates are based on no driving violations, no at-fault accidents, full coverage, $250 deductibles, marital status is single, and no policy discounts are applied.
What are good liability coverage limits? - The liability coverage on your policy will protect you when a court rules you are at fault for an accident. This coverage provides you with a defense in court to defend your case. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so do not skimp.
Claims statistics for a Porsche Boxster - Insurers study historical loss data to help calculate a profitable premium rate. Models that have a trend towards higher claim severity or frequency will have higher premium rates.
The table below outlines the historical insurance loss data for Porsche Boxster vehicles. For each coverage category, the claim amount for all vehicles, regardless of make, model or trim level, is a value of 100. Percentages below 100 suggest losses that are better than average, while numbers that are greater than 100 indicate more frequent claims or a tendency for losses to be larger than average.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Porsche Boxster Convertible||135||47||121||31|
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Affordable Memphis insurance rates with discounts
Insurance can cost an arm and a leg, but there may be some discounts to reduce the price significantly. Some discounts apply automatically at the time of quoting, but some need to be requested specifically prior to receiving the credit.
- Switch and Save Discount - Select insurance companies give a discount for buying a policy prior to your current Boxster insurance policy expiration. It can save you around 10%.
- Federal Employees - Active or retired federal employment could provide a small rate reduction with a few insurance companies.
- Accident Forgiveness Coverage - This one is not really a discount per se, but companies like Allstate and GEICO may permit one accident before your rates go up if your claims history is clear for a specific time period.
- Air Bags and Passive Restraints - Vehicles with factory air bags and/or automatic seat belt systems may get savings up to 30%.
- Smart Student Discounts - Excelling in school could provide a savings of up to 20% or more. You can use this discount normally up to age 25.
- Senior Citizen Rates - Older drivers may receive lower premium rates.
- Pay Now and Pay Less - By paying your entire bill at once rather than paying in monthly installments you may reduce your total bill.
- Multiple Vehicles - Purchasing coverage when you have primary and secondary vehicles with the same insurance company can reduce rates for all insured vehicles.
A little note about advertised discounts, some credits don't apply to your bottom line cost. Most cut the cost of specific coverages such as medical payments or collision. So even though they make it sound like all the discounts add up to a free policy, it's just not the way it works.
The chart below illustrates the difference between Porsche Boxster yearly insurance costs with and without discounts applied to the policy premium. The data is based on a male driver, no claims or driving citations, Tennessee state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, safe-driver, multi-policy, homeowner, and marriage discounts applied.
Insurance companies that may offer quotes with many of the previously listed discounts include:
If you want cheaper Memphis auto insurance quotes, ask each company or agent what discounts are available to you. Some of the earlier mentioned discounts may not apply in Memphis. To find providers who offer discounts in Tennessee, follow this link.
Local Memphis car insurance agents
A lot of people would rather talk to an insurance agent and doing so can bring peace of mind Experienced insurance agents can make sure you are properly covered and will help you if you have claims. The biggest benefit of comparing rate quotes online is you can get the lowest rates and still have a local agent.
To make it easy to find an agent, after completing this simple form, the coverage information is instantly submitted to local insurance agents in Memphis who want to provide quotes and help you find cheaper coverage. You never need to find an agent on your own as quotes are delivered to you instantly. If for some reason you want to get a price quote from a specific insurance company, don't hesitate to jump over to their website to submit a rate quote request.
Finding the right provider requires you to look at more than just the bottom line cost. The answers to these questions are important, too.
- How much experience to they have in personal lines coverages?
- Is the agency active in community causes in Memphis?
- Do you work with a CSR or direct with the agent?
- If your car is in the repair shop, do you have coverage for a rental car?
- Are they able to influence company decisions when a claim is filed?
- What will you get paid if your car is a total loss? How is that amount determined?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
Shown below is a short list of car insurance companies in Memphis willing to provide price quotes for Porsche Boxster insurance in Memphis.
- State Farm: Warren Hodges
5170 Sanderlin Ave #204 - Memphis, TN 38117 - (901) 767-2000 - View Map
- Ron Willis - State Farm Insurance Agent
3486 Poplar Ave #102 - Memphis, TN 38111 - (901) 454-7912 - View Map
- Arther Wells - State Farm Insurance Agent
4205 Hacks Cross Rd #116 - Memphis, TN 38125 - (901) 363-9217 - View Map
- Derrick Hodges - State Farm Insurance Agent
7249 Winchester Rd - Memphis, TN 38125 - (901) 572-1985 - View Map
When in doubt talk to an agent
When quoting and comparing coverage for your personal vehicles, there is no "perfect" insurance plan. Your needs are not the same as everyone else's.
Here are some questions about coverages that might point out if your insurance needs would benefit from professional advice.
- Does medical payments coverage apply to all occupants?
- How much cheaper are high deductibles?
- Do I need roadside assistance coverage?
- What states are considered no-fault?
- Does my policy cover me when driving someone else's vehicle?
- When can I cancel my policy?
- What is UM/UIM insurance?
- Can I use my car for my catering business?
- When should I remove comp and collision on my Porsche Boxster?
If it's difficult to answer those questions but a few of them apply then you might want to talk to a licensed agent. To find an agent in your area, fill out this quick form. It's fast, doesn't cost anything and can help protect your family.
More comparisons equals affordable rates
We just covered a lot of ways to shop for Porsche Boxster insurance online. The key concept to understand is the more rate comparisons you have, the higher the chance of saving money. Consumers could even find that the lowest auto insurance rates come from a small mutual company.
Consumers who switch companies do it for a number of reasons such as denial of a claim, high rates after DUI convictions, lack of trust in their agent and even unfair underwriting practices. No matter why you want to switch, finding a new car insurance company is pretty easy and you might even save some money in the process.
When buying insurance coverage, you should never buy lower coverage limits just to save a few bucks. There are many occasions where someone dropped full coverage and found out when filing a claim that the small savings ended up costing them much more. Your goal should be to purchase a proper amount of coverage for the lowest price, but do not skimp to save money.
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)
- Who Has Affordable Car Insurance for Drivers Under 21 in Memphis? (FAQ)
- What Insurance is Cheapest for a Ford Fusion in Memphis? (FAQ)
- What Car Insurance is Cheapest for Infrequent Drivers in Memphis? (FAQ)
- Vehicle Safety Ratings (iihs.org)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- Winter Driving (Insurance Information Institute)
- Rollover Crash FAQ (iihs.org)