The most effective way to save money on Porsche Cayman insurance is to compare prices regularly from different companies who provide auto insurance in Jersey City.
Step 1: It will benefit you to learn about the different coverages in a policy and the measures you can control to keep rates in check. Many policy risk factors that result in higher rates like at-fault accidents, speeding tickets, and poor credit can be controlled by paying attention to minor details. This article provides the details to get low prices and find additional discounts.
Step 2: Compare prices from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can provide rates from one company like Progressive or State Farm, while independent agents can give you price quotes for a wide range of companies.
Step 3: Compare the new quotes to the premium of your current policy to see if a cheaper price is available. If you can save some money and decide to switch, make sure there is no coverage gap between policies.
One thing to point out is to make sure you enter similar coverage information on each price quote and and to get rate quotes from as many different companies as possible. This enables an apples-to-apples comparison and maximum price selection.
It’s an obvious conclusion that car insurance companies want to keep you from comparing rates. Consumers who shop around for cheaper prices are inclined to switch car insurance companies because there is a high probability of finding more affordable rates. Remarkably, a study showed that consumers who routinely compared rates saved an average of $860 a year as compared to drivers who never shopped around for cheaper prices.
If finding discount rates on auto insurance is the reason you’re reading this, knowing how to shop for insurance coverage can help simplify the task of finding more affordable coverage.
It’s important to know that quoting more will increase your chances of finding a lower rate.
The companies in the list below are our best choices to provide free quotes in Jersey City, NJ. To find the best car insurance in NJ, it’s a good idea that you click on several of them to get the best price comparison.
Three reasons to not skimp on car insurance
Even though it’s not necessarily cheap to insure a Porsche in Jersey City, insurance may not be optional for several reasons.
First, just about all states have compulsory liability insurance requirements which means the state requires specific limits of liability coverage in order to get the vehicle licensed. In New Jersey these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
Second, if you bought your vehicle with a loan, most lenders will make it a condition of the loan that you buy full coverage to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the lender may insure your Porsche at a more expensive rate and make you pay the higher premium.
Third, insurance protects not only your car but also your financial assets. It will also pay for medical transport and hospital expenses for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, will also pay attorney fees if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will pay to repair the damage.
The benefits of carrying adequate insurance definitely exceed the cost, especially for larger claims. According to a recent study, the average American driver is overpaying over $825 a year so smart consumers compare quotes at every renewal to be sure current rates are still competitive.
Porsche Cayman insurance charts and tables
The premium table below covers a range of insurance policy prices for Porsche Cayman models. Understanding how insurance prices are figured is important for drivers to make smart choices when purchasing an insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cayman 2-Dr Coupe||$274||$622||$544||$32||$162||$1,634||$136|
|Cayman S 2-Dr Coupe||$274||$694||$544||$32||$162||$1,706||$142|
|Get Your Own Custom Quote Go|
Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Table data does not factor in the specific area where the vehicle is garaged which can alter prices significantly.
The chart below shows how choosing a deductible and can increase or decrease Porsche Cayman insurance rates for each age group. The information is based on a married male driver, comp and collision included, and no discounts are factored in.
Comparison of insurance rates by gender and age
The chart below shows the difference between Porsche Cayman annual premium costs for male and female drivers. The price estimates are based on a clean driving record, no at-fault accidents, comp and collision included, $500 deductibles, single status, and no other discounts are factored in.
Cost of full coverage
The information below shows the difference between Porsche Cayman insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in New Jersey. The data assumes a clean driving record, no at-fault accidents, $1,000 deductibles, drivers are single, and no policy discounts are applied.
When to drop comp and collision
There is no exact rule to exclude full coverage on your policy, but there is a guideline you can use. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let’s assume your Porsche Cayman claim settlement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $6,000 after paying your deductible. If it’s costing you more than $600 a year for comprehensive and collision coverage, then you may need to consider dropping full coverage.
There are a few situations where removing full coverage is not recommended. If you haven’t paid off your loan, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.
Determine discounts on Jersey City insurance
Some insurance providers don’t list all available discounts in an easy-to-find place, so we took the time to find both the well known and the more hidden credits available to lower your premiums when you buy Jersey City auto insurance online.
- Passive Restraint Discount – Vehicles with factory air bags may get savings of 20% or more.
- Clubs and Organizations – Being a member of a civic or occupational organization in Jersey City is a good way to get lower rates on your next insurance statement.
- Waiver for an Accident – Not a discount per se, but companies like Liberty Mutual and GEICO may permit one accident without raising rates if your claims history is clear for a certain period of time.
- Resident Student – Any of your kids who are enrolled in a college that is more than 100 miles from Jersey City and leave their car at home may be able to be covered for less.
- Multiple Vehicles – Purchasing coverage when you have multiple vehicles on one policy can reduce the rates for all insured vehicles.
Don’t be shocked that some of the credits will not apply to your bottom line cost. Most only reduce specific coverage prices like comprehensive or collision. So when the math indicates all those discounts means the company will pay you, nobody gets a free ride. Any amount of discount will bring down your overall bill.
The illustration below shows the difference between Porsche Cayman insurance costs with and without policy discounts. The costs are based on a female driver, no claims or driving violations, New Jersey state minimum liability limits, full 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, multi-policy, marriage, claim-free, and homeowner discounts applied.
Some of the larger companies that possibly offer many of the previously listed discounts are:
If you want cheaper Jersey City auto insurance quotes, ask every company which discounts they offer. Some of the discounts discussed earlier might not be offered in every state. If you would like to see a list of companies that offer multiple discounts in Jersey City, click this link.
Auto insurance agents near you
A lot of people would rather buy from a local agent and that is OK! An additional benefit of comparing rate quotes online is that you can find the lowest rates but still work with a licensed agent. Buying from local agents is especially important in Jersey City.
After completing this simple form, your insurance data is instantly submitted to agents in your area that can provide free Jersey City auto insurance quotes for your coverage. You won’t even need to do any legwork since price quotes are sent to the email address you provide. You’ll get the best rates and a licensed agent to work with. If for some reason you want to quote rates from a specific company, don’t hesitate to navigate to their website to submit a rate quote request.
Independent or Exclusive: It’s your choice
If you want to buy car insurance from a local insurance agency, it’s important to understand the different types of agents that you can select. Jersey City agents can be classified as either independent agents or exclusive agents.
Independent Car Insurance Agencies or Brokers
Independent agencies are not employed by one company so they can insure your vehicles amongst many companies and find you cheaper rates. If your agent finds better pricing, they simply move the coverage in-house which is easy for the insured. When shopping rates, you will want to compare quotes from multiple independent agents to get the most accurate price comparison. Most can insure with less well-known companies which may have better rates.
Listed below is a small list of independent agents in Jersey City who can help you get pricing information.
- Royale Insurance Agency
2184 John F. Kennedy Blvd – Jersey City, NJ 07305 – (201) 656-1800 – View Map
- Preferred Choice Insurance Agency
225 Newark Ave – Jersey City, NJ 07302 – (201) 616-7644 – View Map
- AllState Agent
07305, 701 NJ-440 – Jersey City, NJ 07304 – (201) 515-3499 – View Map
Exclusive agencies normally can only provide a single company’s rates like Allstate, Farmers Insurance, State Farm, and AAA. These agents are unable to shop your coverage around so they really need to provide good service. Exclusive agencies are well schooled on their company’s products which helps them compete with independent agents. Consumers frequently choose to use an exclusive agent mainly due to the brand rather than low rates.
Shown below is a list of exclusive insurance agencies in Jersey City who can help you get comparison quotes.
- Farmers Insurance – Mofalc Meinga
447 Central Ave – Jersey City, NJ 07307 – (201) 435-1616 – View Map
- State Farm Insurance – Freddy Duran
1025 Summit Ave – Jersey City, NJ 07307 – (201) 604-3874 – View Map
- Hemant Jiwnani – State Farm Insurance Agent
2770 John F Kennedy Blvd, FL-1 – Jersey City, NJ 07306 – (201) 653-1770 – View Map
Selecting an insurance agency requires more thought than just the quoted price. Get answers to these questions too.
- Which members of your family are coverage by the policy?
- Is there any savings for paying the full premium?
- Does the agency support the community they serve?
- What company do they have the most business with?
- Do they have any clout with companies to ensure a fair claim settlement?
- Can you choose the body shop in case repairs are needed?
- Has the agent ever had any license suspensions?
When to get professional advice
When it comes to choosing adequate coverage, there really is not a “perfect” insurance plan. Everyone’s situation is a little different and your auto insurance should unique, too.
For example, these questions could help you determine if your situation would benefit from professional advice.
- Does my Porsche Cayman qualify for pleasure use?
- Do I have coverage when using my vehicle for my home business?
- Is rental equipment covered for theft or damage?
- Why do I only qualify for high-risk insurance?
- Is my Porsche Cayman covered if I use it for business?
- Should I file a claim if it’s only slightly more than my deductible?
- How high should deductibles be on a Porsche Cayman?
- At what point should I drop full coverage?
- How high should my uninsured/underinsured coverage be in New Jersey?
If it’s difficult to answer those questions but you know they apply to you then you might want to talk to an agent. To find an agent in your area, take a second and complete this form or click here for a list of auto insurance companies in your area.
Affordable auto insurance rates are out there
While you’re price shopping online, don’t be tempted to skimp on critical coverages to save a buck or two. There are many occasions where an insured dropped physical damage coverage and learned later that it was a big mistake. Your strategy should be to find the BEST coverage at the best price, but do not sacrifice coverage to save money.
Discount Porsche Cayman insurance in Jersey City is available from both online companies and with local Jersey City insurance agents, so you need to quote Jersey City auto insurance with both in order to have the best chance of saving money. Some auto insurance companies don’t offer online price quotes and usually these smaller providers prefer to sell through local independent agencies.
More tips and info about auto insurance can be read in the articles below:
- What is Covered by GAP Insurance? (Allstate)
- How Much is Auto Insurance for a Hyundai Elantra in Jersey City? (FAQ)
- Who Has the Cheapest Jersey City Car Insurance Quotes for Used Cars? (FAQ)
- How Much are Jersey City Auto Insurance Quotes for Drivers Over Age 50? (FAQ)
- What Insurance is Cheapest for 18 Year Olds in Jersey City? (FAQ)
- Who Has Cheap Jersey City Auto Insurance for a Chevrolet Equinox? (FAQ)
- Who Has the Cheapest Jersey City Car Insurance Rates for Retired Military? (FAQ)
- Who Has Cheap Car Insurance Quotes for Teenage Males in Jersey City? (FAQ)
- Parking Tips to Reduce Door Dings (State Farm)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- Understanding Car Crashes Video (iihs.org)