Save Money on Porsche Cayenne Insurance in Newark

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Insurance rates Porsche Cayenne in NewarkThe easiest way to get low-cost Porsche Cayenne insurance is to compare quotes annually from providers who sell auto insurance in Newark. This can be done by following these steps.

  • Step 1: Try to comprehend how companies set rates and the measures you can take to prevent expensive coverage. Many factors that result in higher rates such as your driving record and an unacceptable credit score can be improved by making minor driving habit or lifestyle changes. Keep reading for ideas to get low prices and get bigger discounts that may have been overlooked.
  • Step 2: Quote rates from direct, independent, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from a single company like Progressive or Allstate, while agents who are independent can give you price quotes from multiple sources.
  • Step 3: Compare the new rate quotes to your current policy to see if a cheaper price is available. If you find a lower rate and change companies, make sure there is no lapse in coverage.
  • Step 4: Provide notification to your current company of your intention to cancel your current policy. Submit payment and a signed application to the newly selected company. Immediately put the certificate verifying proof of insurance in an accessible location in your vehicle.

The critical component of shopping around is to try to compare identical coverage information on every quote and and to compare as many companies as possible. Doing this guarantees an accurate price comparison and and a good selection of different prices.

It's shocking but the vast majority of drivers have remained with the same car insurance company for well over three years, and practically 40% of car insurance customers have never even compared quotes to find cheaper rates. Most drivers in New Jersey could cut their rates by as much as 40% a year just by getting comparison quotes, but they just feel it's too hard to compare rates.

Six Things That Determine Your Insurance Costs

A large part of saving on car insurance is knowing some of the elements that come into play when calculating your car insurance rates. If you understand what determines premiums, this allows you to make educated decisions that will entitle you to cheaper rates.

Listed below are some of the things used by companies to determine your prices.

  • Is auto insurance cheaper for women or men? - Statistics have proven that women are safer drivers than men. That doesn't necessarily mean that females are better at driving than males. Both sexes get in at-fault accidents in similar percentages, but the men tend to have more serious accidents. Men also get higher numbers of serious violations like driving under the influence (DUI).

    The example below compares Porsche Cayenne car insurance rates for male and female drivers. The data is based on no violations or accidents, full physical damage coverage, $500 deductibles, single status, and no other discounts are factored in.

  • Save money with higher coverage deductibles - Comprehensive and collision coverage deductibles tell how much you are required to spend out-of-pocket if a covered claim is submitted. Insurance for physical damage to your car, also called comprehensive and collision insurance, covers damage that occurs to your car. Some coverage claims could be a windshield broken by a bird, animal collisions, and damage caused by road hazards. The more of the claim you have to pay, the better rate you will receive.
  • Safer cars cost less to insure - Cars with five star safety ratings cost less to insure. Vehicles engineered for safety reduce the chance of injuries and better occupant protection translates into fewer and smaller insurance claims and thus lower rates.
  • Single drivers may pay more - Being married can get you a discount when buying car insurance. Marriage may mean you are less irresponsible and it's statistically proven that married drivers get in fewer accidents.
  • Prevent policy lapses - Allowing your car insurance policy to lapse can be a fast way to pay more for car insurance. Not only will you pay higher rates, failure to provide proof of insurance could result in a revoked license or a big fine. You may need to submit proof of financial responsibility or a SR-22 with the New Jersey motor vehicle department to get your license reinstated.
  • Premiums are affected by your credit rating - Your credit rating will be a significant factor in determining what you pay. If your credit score leaves room for improvement, you could pay less to insure your Porsche Cayenne by taking the time to improve your credit score. Drivers with excellent credit scores tend to be more responsible and file fewer claims than those with poor credit.
  • Insurance losses for a Porsche Cayenne - Insurers study historical loss data when determining insurance costs. Vehicles that the statistics show to have higher claim amounts or frequency will cost more for specific coverages. The information below illustrates the collected loss data for Porsche Cayenne vehicles.

    For each insurance policy coverage type, the statistical loss for all vehicles, without regard to make or model, is a value of 100. Numbers that are below 100 are indicative of better than average losses, while numbers above 100 indicate frequent claims or statistically larger claims.

    Car Insurance Loss Data for Porsche Cayenne Models
    Specific Porsche Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Porsche Cayenne 4dr 4WD 176 100 138 58 53 77
    Porsche Cayenne Hybrid 4dr 4WD 119
    BETTER
    AVERAGE
    WORSE

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

Insurance rate breakdown

The coverage table below covers a range of policy rates for Porsche Cayenne models. Being aware of how insurance policy premiums are established is important to be able to make decisions on the best policy coverages.

Porsche Cayenne Insurance Rates in Newark, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayenne $442 $874 $544 $32 $162 $2,054 $171
Cayenne S $484 $990 $544 $32 $162 $2,212 $184
Cayenne GTS $484 $1104 $544 $32 $162 $2,326 $194
Cayenne S Transyberia $484 $1104 $544 $32 $162 $2,326 $194
Cayenne GTS PD Edition 3 $524 $1220 $544 $32 $162 $2,482 $207
Cayenne Turbo $566 $1220 $544 $32 $162 $2,524 $210
Cayenne Turbo S $648 $1448 $544 $32 $162 $2,834 $236
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Table data represents single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Prices do not factor in specific location information which can decrease or increase coverage prices greatly.

Can higher deductibles save money?

One of the more difficult decisions when buying car insurance is which deductible level should you buy. The rates below may help to conceptualize the premium difference when you buy lower versus higher insurance deductibles. The first set of prices uses a $250 deductible for comp and collision and the second set of rates uses a $500 deductible.

Porsche Cayenne insurance policy rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayenne $514 $848 $480 $28 $144 $2,039 $170
Cayenne S $562 $960 $480 $28 $144 $2,199 $183
Cayenne GTS $562 $1072 $480 $28 $144 $2,311 $193
Cayenne S Transyberia $562 $1072 $480 $28 $144 $2,311 $193
Cayenne GTS PD Edition 3 $610 $1184 $480 $28 $144 $2,471 $206
Cayenne Turbo $658 $1184 $480 $28 $144 $2,519 $210
Cayenne Turbo S $754 $1406 $480 $28 $144 $2,837 $236
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Porsche Cayenne insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Cayenne $418 $684 $480 $28 $144 $1,754 $146
Cayenne S $458 $774 $480 $28 $144 $1,884 $157
Cayenne GTS $458 $864 $480 $28 $144 $1,974 $165
Cayenne S Transyberia $458 $864 $480 $28 $144 $1,974 $165
Cayenne GTS PD Edition 3 $496 $954 $480 $28 $144 $2,102 $175
Cayenne Turbo $536 $954 $480 $28 $144 $2,142 $179
Cayenne Turbo S $612 $1134 $480 $28 $144 $2,398 $200
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Rate quotes do not factor in your specific Newark location which can impact premium rates noticeably.

Using the premium rates above, we can conclude that using a $250 deductible costs about $29 more each month or $348 each year than choosing the higher $500 deductible. Because you would pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you average more than 9 months between claim filings, you would probably come out ahead if you choose the higher deductible.

The illustration below highlights how deductible choice and can influence Porsche Cayenne premium costs for each age group. Data assumes a single male driver, comprehensive and collision coverage, and no discounts are applied.

Careless Newark drivers pay higher rates

The diagram below demonstrates how speeding tickets and accident claims can drive up Porsche Cayenne insurance costs for different ages of insureds. The rate quotes are based on a single female driver, full coverage, $1,000 deductibles, and no discounts are applied.

Do you qualify for discounts?

Car insurance is not an enjoyable expense, but you may qualify for discounts that could drop your premiums quite a bit. Some of these discounts will be visible when you quote, but once in a while a discount must be manually applied in order for you to get them.Discount car insurance

  • Membership in Organizations - Belonging to a qualifying organization is a good way to get lower rates on your next renewal.
  • Data Collection Discounts - Drivers who elect to allow their insurance company to study when and where they use their vehicle remotely such as Progressive's Snapshot could save a few bucks as long as the data is positive.
  • Government Employees - Active or retired federal employment can save as much as 8% but check with your company.
  • Passive Restraints - Vehicles with factory air bags may earn rate discounts of 25 to 30%.
  • Good Drivers - Insureds who avoid accidents can save as much as half off their rates than drivers with accident claims.
  • Defensive Driver Discount - Participating in a class that teaches safe driver techniques could save 5% or more if your company offers it.
  • Use Seat Belts - Drivers who always wear seat belts and also require passengers to use their safety belts may be able to save a few bucks off the personal injury premium cost.
  • More Vehicles More Savings - Buying coverage for all your vehicles on one policy can reduce rates for all insured vehicles.
  • Senior Discount - Drivers that qualify as senior citizens can get a discount up to 10%.
  • E-sign - Certain companies will discount your bill up to fifty bucks simply for signing on your computer.

As a footnote on discounts, most of the big mark downs will not be given to all coverage premiums. Some only reduce specific coverage prices like collision or personal injury protection. Even though it appears you can get free auto insurance, nobody gets a free ride.

The chart below illustrates the difference between Porsche Cayenne insurance prices with and without discounts applied to the policy premium. The premiums assume a male driver, no accidents or driving violations, New Jersey state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, marriage, homeowner, safe-driver, and claim-free discounts applied.

To choose companies who offer cheap Porsche Cayenne insurance quotes in Newark in New Jersey, click this link.

Best car insurance company in New Jersey

Ending up with the right company can be difficult considering how many companies sell insurance in Newark. The information in the lists below could help you choose which providers you want to consider comparing rate quotes with.

Best Car Insurance Companies in Newark
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Mercury Insurance 87 96 100 87% A+ 93.4
The Hartford 88 96 91 93% A+ 92.6
Progressive 84 94 99 90% A+ 92.4
Travelers 84 93 100 87% A++ 92.3
State Farm 84 93 95 87% A++ 91
Farmers Insurance 87 92 90 85% A 90.6
Safeco Insurance 85 91 87 86% A 88.4
USAA 71 93 98 87% A++ 88
GEICO 73 93 95 85% A++ 87.1
21st Century 85 85 91 89% A 86.9
Liberty Mutual 72 91 97 83% A 86.4
AAA Insurance 85 85 88 86% A 85.8
Nationwide 71 90 93 83% A+ 84.9
Allstate 69 92 92 83% A+ 84.4
American Family 77 96 80 85% A 83.8
Esurance 70 80 89 77% A+ 79.2
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Data Source: Insure.com Best Car Insurance Companies

One last note

In this article, we presented some good ideas how you can reduce Porsche Cayenne insurance prices online in Newark. The most important thing to understand is the more price quotes you have, the higher your chance of finding affordable Newark car insurance quotes. You may even be surprised to find that the lowest prices come from an unexpected company. Regional companies can often insure niche markets at a lower cost than the large multi-state companies such as State Farm and Allstate.

While you're price shopping online, don't be tempted to buy poor coverage just to save money. In many cases, an insured cut liability coverage limits only to regret at claim time that their decision to reduce coverage ended up costing them more. Your goal is to buy enough coverage at an affordable rate, but don't skip important coverages to save money.

Some insurance providers may not have rates over the internet and many times these regional carriers only sell through independent agents. Budget-friendly insurance in Newark is definitely available from both online companies in addition to local insurance agencies, and you need to comparison shop both in order to have the best price selection to choose from.

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