Are you irritated from trying to scrape together enough money to buy insurance? You are in the same boat as the majority of other people in Colorado.
Unbelievable but true according to a study a large majority of drivers have remained with the same insurance company for a minimum of four years, and 38% of customers have never even shopped around for affordable coverage. Many consumers in Fort Collins could pocket $605 a year by just shopping around, but they just feel it's too hard to compare rate quotes online. Companies like GEICO, 21st Century and Progressive constantly blast consumers with ads and it is difficult to see through the cute green geckos and mayhem and find the best price available.
It's a good habit to check insurance prices occasionally because prices are adjusted regularly by insurance companies. If you had the best deal on Porsche Panamera insurance in Fort Collins at your last renewal you may be paying too much now. You'll find quite a bit of inaccurate information about Panamera insurance out there, but in this article, you're going to get some solid techniques on how to reduce your insurance bill.
If you have coverage now or just want to save money, you will benefit by learning to cut your premiums and still have adequate protection. Locating the most cost-effective insurance policy in Fort Collins can initially seem challenging. You only need to know the tricks to compare rate quotes instantly.
Cheap Fort Collins insurance rates with discounts
Some companies do not list all possible discounts very well, so the below list has a few of the more common and also the lesser-known discounts that you may qualify for.
- Multi-car Discount - Drivers who insure multiple vehicles on the same insurance policy could earn a price break for each car.
- Accident Forgiveness Coverage - This one is not really a discount per se, but companies like State Farm and Progressive permit an accident without getting socked with a rate hike with the catch being you have to be claim-free prior to being involved in the accident.
- Distant College Student Discount - Children who live away from home at college and don't have a car may be able to be covered for less.
- Pay Upfront and Save - If paying your policy premium upfront instead of monthly or quarterly installments you could save 5% or more.
- Auto/Life Discount - Not all insurance carriers offer life insurance, but some may give you better premium rates if you take out a life policy as well.
- No Claim Discounts - Drivers with accident-free driving histories get the best insurance rates as opposed to frequent claim filers.
A little note about advertised discounts, most of the big mark downs will not be given to the entire policy premium. Some only reduce specific coverage prices like collision or personal injury protection. So when the math indicates you would end up receiving a 100% discount, companies wouldn't make money that way.
A partial list of companies who might offer most of these discounts include:
Before purchasing a policy, check with every company which credits you are entitled to. All car insurance discounts might not be offered on policies in Fort Collins. To see a list of insurance companies who offer online Porsche Panamera insurance quotes in Colorado, click this link.
The quickest method to compare policy rates for Porsche Panamera insurance in Fort Collins is to understand car insurance companies allow for online access to give free rates quotes. All consumers are required to do is give the companies some data such as your education level, if you require a SR-22, what you do for a living, and distance driven. That information is automatically sent to insurance carriers in your area and you receive quotes almost instantly.
To get price quotes for your Porsche Panamera now, click here and complete the quick form.
The companies shown below have been selected to offer free quotes in Fort Collins, CO. If more than one company is shown, we suggest you click on several of them in order to find the most competitive rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Panamera S 4-Dr Hatchback||$288||$534||$358||$22||$108||$1,310||$109|
|Panamera 4S AWD 4-Dr Hatchback||$438||$870||$362||$22||$108||$1,800||$150|
|Panamera Turbo AWD 4-Dr Hatchback||$612||$1364||$474||$28||$142||$2,620||$218|
|Get Your Own Custom Quote Go|
Cost estimates assume single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Premium amounts do not factor in garaging location in Fort Collins which can affect rates noticeably.
Full coverage versus liability-only
The example below illustrates the comparison of Porsche Panamera insurance costs with full physical damage coverage compared to only buying liability only. The premiums assume no claims or driving violations, $250 deductibles, single female driver, and no discounts are taken into consideration.
When to buy liability coverage only
There is no clear-cut formula that works best for making the decision to drop full coverage, but there is a general guideline you can use. If the annual cost of coverage is more than 10% of the settlement you would receive from your company, then it might be time to buy liability only.
For example, let's say your Porsche Panamera settlement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company would pay you is $6,000 after the policy deductible has been paid. If you are paying more than $600 a year for full coverage, then it could be time to drop full coverage.
There are some conditions where only buying liability is not advised. If you haven't paid off your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not buy liability only.
Lower Insurance Rates with These Tips
Many different elements are used when you quote your car insurance policy. Some factors are common sense like your driving record, but some are more obscure like where you live or how financially stable you are.
- Low physical damage deductibles cost more - Physical damage protection, also called comprehensive and collision insurance, helps pay for damage to your vehicle. Some instances where coverage would apply would be a dented fender, hail damage, and damage caused by flying debris. The deductibles you choose define the amount you are willing to pay in the event of a claim. The more the insured is willing to pay, the lower your rates will be.
- Does your job cost you more? - Occupations like lawyers, architects and accountants tend to pay higher rates than the rest of us because of job stress and lots of time spent away from family. Other occupations like professors, athletes and performers have the lowest average rates.
- Premiums may be higher where you live - Living in less populated areas of the country can save you money when talking about insurance. Fewer drivers and short commutes translates into fewer accidents in addition to lower liability claims Residents of big cities tend to have more aggressive driving styles and more time behind the wheel. More time commuting means more chance of being in an accident.
- Get better costs if you're married - Having a spouse helps lower the price on insurance. It demonstrates that you tend to be more mature and responsible and statistics prove married drivers get in fewer accidents.
- High credit scores save money - A driver's credit score is likely to be a major factor in calculating your insurance rates. Therefore, if your credit rating could use some work, you could be paying less to insure your Porsche Panamera by spending a little time repairing your credit. Insureds with high credit scores tend to be better drivers and file fewer claims than drivers who have poor credit scores.
- Cheaper prices for being claim-free - Companies in Colorado provide most affordable rates to policyholders that do not abuse their auto insurance. If you are the type of insured that files lots of claims you can definitely plan on much higher rates or policy non-renewal. Auto insurance is designed for major claims that would cause financial hardship.
- How old are your drivers? - Young drivers in Colorado are known to be inattentive and easily distracted when driving therefore insurance rates are much higher. Older people have been proven to be more responsible, file fewer claims, and tend to be get fewer driving tickets.
- More performance means higher costs - The performance level of the car, truck or SUV you need insurance for makes a significant difference in your auto insurance rates. Due to the fact that the Porsche Panamera falls in the luxury sport sedan class, insuring your vehicle will cost considerably higher than the average rate where you live in Fort Collins. Economy passenger cars usually have the lowest rates, but there are many factors that impact the final cost.
- Porsche Panamera historical loss data - Insurers study historical loss data when setting premium prices. Models that the statistics show to have a trend towards higher claims will cost more for specific coverages. The table below demonstrates the compiled insurance loss statistics for Porsche Panamera vehicles.
For each coverage category, the loss probability for all vehicles averaged together is set at 100. Numbers below 100 imply a favorable loss record, while percentages above 100 show a trend for more claims or an increased probability of a larger loss.
Porsche Panamera Insurance Loss Statistics
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Porsche Panamera 4dr 236 94 265 57 Porsche Panamera GTS 4dr 4WD 246 48 467 Porsche Panamera Turbo 4dr 4WD 242
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
It's not one size fits all
When buying adequate coverage, there really is no one size fits all plan. Coverage needs to be tailored to your specific needs.
Here are some questions about coverages that can aid in determining whether your personal situation may require specific advice.
- Do I need medical payments coverage since I have good health insurance?
- How much liability insurance is required?
- Should I buy full coverage?
- Is my cargo covered for damage or theft?
- Should I pay a claim out-of-pocket?
- Is other people's property covered if stolen from my vehicle?
- What is the ISO rating for a Porsche Panamera?
- Do I have any recourse if my insurance company denies a claim?
- Can I get a multi-policy discount?
- How can I get high-risk coverage after a DUI?
If you don't know the answers to these questions but you know they apply to you then you might want to talk to an agent. To find lower rates from a local agent, fill out this quick form. It's fast, free and can help protect your family.
Comparing rates from local Fort Collins auto insurance agents
Many drivers would rather buy from a licensed agent. Agents can help you build your policy and help file insurance claims. One of the best bonuses of comparing insurance prices online is you may find cheaper auto insurance rates but still work with a licensed agent.
Upon completion of this short form, the coverage information is sent to local insurance agents in Fort Collins that give free quotes and help you find cheaper coverage. You never need to drive around since price quotes are sent to you. If you have a need to compare prices from a particular provider, don't hesitate to search and find their rate quote page and complete a quote there.
Finding the right provider should depend on more than just a low price. These questions are important to ask:
- Do they get extra compensation for selling add-on coverages?
- Will their companies depreciate repairs to your car based on the mileage?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- Is the agency covered by Errors and Omissions coverage?
- Can glass repairs be made at your home?
The difference between Fort Collins car insurance agents
If you need to find a good Fort Collins insurance agent, it's important to understand the types of insurance agents and how they can quote your rates. Car insurance policy providers can be classified as either independent (non-exclusive) or exclusive. Both types of agents can insure your vehicles properly, but it's a good idea to understand how they differ since it could factor into your agent selection.
Exclusive agencies work for only one company such as Allstate, State Farm and Farm Bureau. Exclusive agents cannot give you multiple price quotes so they have to upsell other benefits. They are well trained in insurance sales which helps overcome the inability to quote other rates.
The following is a short list of exclusive insurance agents in Fort Collins that are able to give price quotes.
Allstate Insurance: Greg L. Howell
816 S College Ave - Fort Collins, CO 80524 - (970) 482-2200 - View Map
Independent agencies do not work for one specific company and that is an advantage because they can write policies with multiple insurance companies depending on which coverage is best. If your agent finds better pricing, the agent simply finds a different carrier which is easy for the insured.
If you are trying to find cheaper rates, we recommend you compare quotes from several independent insurance agents so that you have a good selection of quotes to compare.
The following is a list of independent insurance agencies in Fort Collins who can help you get price quotes.
If you receive good feedback to all your questions and locked in a price quote, chances are good that you have found an insurance agent that will properly insure your vehicles.
Three main reasons to buy car insurance
Despite the potentially high cost of Porsche Panamera insurance, insurance may be required for several reasons.
- Almost all states have minimum liability requirements which means the state requires a minimum amount of liability protection if you don't want to risk a ticket. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your vehicle has a loan, more than likely the lender will make it a condition of the loan that you have full coverage to guarantee their interest in the vehicle. If you default on your policy, the bank may insure your Porsche at a more expensive rate and force you to pay much more than you were paying before.
- Car insurance preserves your car and your assets. It will also cover most medical and hospital costs for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, also covers all legal expenses up to the policy limit if you are named as a defendant in an auto accident. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of insuring your Panamera more than cancel out the cost, especially for larger claims. According to a recent study, the average American driver is currently overpaying as much as $865 each year so compare rates at least once a year to help ensure money is not being wasted.
Quote more and you will save more
There are still a few companies who may not offer online rate quotes and most of the time these small, regional companies prefer to sell through independent agents. Affordable Porsche Panamera insurance in Fort Collins is possible both online and also from your neighborhood Fort Collins agents, and you need to comparison shop both to have the best rate selection.
Consumers who switch companies do it for any number of reasons including questionable increases in premium, high rates after DUI convictions, being labeled a high risk driver and even high prices. Regardless of your reason for switching companies, finding a great new company is not as hard as you think.
As you shop your coverage around, make sure you don't skimp on critical coverages to save a buck or two. In too many instances, drivers have reduced liability coverage limits and learned later they didn't have enough coverage. The goal is to buy the best coverage you can find at the lowest possible cost while not skimping on critical coverages.
Additional information is located on the following sites:
- Cellphones, Texting and Driving (iihs.org)
- Who Has Affordable Car Insurance Quotes for a Dodge Ram in Colorado? (FAQ)
- How Much is Colorado Auto Insurance for First-time Drivers? (FAQ)
- What is the Best Cheap Auto Insurance in Highlands Ranch, Colorado? (FAQ)
- Who Has the Cheapest Car Insurance for Ride Shares in Colorado? (FAQ)
- Driving in Bad Weather (Insurance Information Institute)
- Senior Drivers (Insurance Information Institute)
- Understanding your Policy (NAIC.org)
- Choosing an Insurance Company (Insurance Information Institute)