We don’t have to tell you that car insurance companies don’t want you comparing rates. Drivers who shop around at least once a year are likely to move their business because there is a good probability of finding coverage at a more affordable price. A study showed that people who shopped around annually saved approximately $3,400 over four years compared to other drivers who don’t regularly compare prices.
If finding budget-friendly car insurance in Lexington is your ultimate objective, then having a good understanding how to quote prices and compare insurance premiums can make it simple to find affordable coverage.
Really, the only way to find affordable quotes for Porsche Boxster insurance is to annually compare prices from providers that insure vehicles in Lexington.
- Step 1: Read about coverages and the steps you can take to prevent expensive coverage. Many rating factors that result in higher prices such as inattentive driving and a not-so-good credit history can be remedied by improving your driving habits or financial responsibility.
- Step 2: Obtain price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from a single company like Progressive or State Farm, while independent agencies can quote prices for a wide range of companies. Start a quote
- Step 3: Compare the new rate quotes to your current policy to determine if you can save on Boxster insurance in Lexington. If you find a better price, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Step 4: Give proper notification to your current agent or company of your intention to cancel the current policy and submit payment and a signed application to your new insurance company. As soon as you can, place your new proof of insurance paperwork in your vehicle.
A crucial key to this process is to make sure you’re comparing the same level of coverage on every quote request and and to analyze every insurance company. Doing this ensures the most accurate price comparison and a thorough price selection.
If you’re already insured or are looking for a new policy, you will benefit by learning to cut your premiums while maximizing coverage. Our goal in writing this article teach you a little about how insurance works and also save some money in the process Consumers just have to know the proper methods to compare different rates on the web.
Cheapest Porsche Boxster insurance quotes in Lexington
The companies shown below provide quotes in Lexington, KY. If you wish to find cheap auto insurance in Lexington, KY, it’s highly recommended you click on several of them to get the best price comparison.
Porsche Boxster coverage statistics
The rate information below covers detailed analysis of insurance costs for Porsche Boxster models. Learning how insurance premiums are calculated is important for drivers to make decisions on the best policy to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Boxster 2-Dr Convertible | $346 | $792 | $336 | $20 | $100 | $1,594 | $133 |
| Boxster S 2-Dr Convertible | $382 | $896 | $336 | $20 | $100 | $1,734 | $145 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Price estimates do not factor in specific location information which can change price quotes substantially.
Cost of full coverage
The illustration below illustrates the comparison of Porsche Boxster yearly insurance costs with liability coverage only compared to full coverage. The prices are based on no claims or driving violations, $100 deductibles, drivers are single, and no other discounts are factored in.
When to stop buying physical damage coverage
There is no definitive formula of when to stop paying for comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of your full coverage insurance is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.
For example, let’s assume your Porsche Boxster replacement cost is $8,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would receive is $7,000 after paying your deductible. If premiums are more than $700 a year for full coverage, then you may need to consider dropping full coverage.
There are a few cases where only buying liability is not a good idea. If you still owe a portion of the original loan, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not opt for liability only.
Lower rates by qualifying for discounts
Companies that sell car insurance don’t always list the complete list of policy discounts very clearly, so the following list contains both well-publicized as well as some of the hidden credits available to you.
- Drivers Education – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class in school or through a local driver safety program.
- Drive Safe and Save – Drivers who avoid accidents could pay up to 40% less than drivers with accident claims.
- New Car Discount – Buying insurance on a new vehicle is cheaper since new vehicles have better safety ratings.
- Discount for Multiple Policies – When you have multiple policies and insure them both with the same insurance company you could save at least 10 to 15 percent or more.
- Onboard Data Collection – Insureds who allow driving data submission to analyze vehicle usage through the use of a telematics system such as Drivewise from Allstate or Snapshot from Progressive could save a few bucks as long as the data is positive.
- Discount for Life Insurance – Not all insurance companies offer life insurance, but some may give you a small discount if you purchase some life insurance in addition to your auto policy.
- Lexington Homeowners Pay Less – Just being a homeowner can help you save on car insurance because of the fact that having a home is proof of financial responsibility.
- No Charge for an Accident – This one is not really a discount per se, but companies like GEICO and Liberty Mutual allow you one accident without raising rates if you are claim-free prior to the accident.
- Seat Belts Save – Using a seat belt and requiring all passengers to wear their seat belts could save 15% on the premium charged for medical payments and/or PIP.
- Organization Discounts – Belonging to qualifying clubs or civic groups is a good way to get lower rates when shopping for car insurance.
Consumers should know that most of the big mark downs will not be given to all coverage premiums. Most only reduce individual premiums such as liability, collision or medical payments. Even though it may seem like adding up those discounts means a free policy, it doesn’t quite work that way. But any discount will help lower the amount you pay for coverage.
The illustration below illustrates the difference between Porsche Boxster insurance rates with and without some available policy discounts. The premiums assume a female driver, no claims or driving violations, Kentucky 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, marriage, safe-driver, multi-car, multi-policy, and homeowner discounts applied.
A list of companies and the discounts they provide are outlined below.
- State Farm offers discounts including multiple autos, defensive driving training, driver’s education, student away at school, safe vehicle, multiple policy, and anti-theft.
- GEICO policyholders can earn discounts including military active duty, multi-policy, emergency military deployment, anti-lock brakes, driver training, and federal employee.
- Progressive includes discounts for online quote discount, online signing, continuous coverage, multi-vehicle, homeowner, multi-policy, and good student.
- 21st Century offers premium reductions for teen driver, anti-lock brakes, driver training, theft prevention, defensive driver, and homeowners.
- American Family discounts include Steer into Savings, accident-free, TimeAway discount, air bags, and mySafetyValet.
- The Hartford has discounts for defensive driver, anti-theft, good student, bundle, driver training, air bag, and vehicle fuel type.
- AAA offers discounts for education and occupation, multi-policy, good driver, multi-car, pay-in-full, AAA membership discount, and anti-theft.
If you want affordable Lexington car insurance quotes, ask every insurance company which credits you are entitled to. Some of the earlier mentioned discounts may not apply in your area. To locate insurance companies offering car insurance discounts in Lexington, click this link.
Insurance is not optional
Even though Lexington Boxster insurance rates can get expensive, buying insurance is required in Kentucky but also provides important benefits.
- Most states have minimum mandated liability insurance limits which means state laws require a minimum amount of liability insurance in order to be legal. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your Porsche Boxster has a lienholder, more than likely the lender will make it mandatory that you carry insurance to guarantee their interest in the vehicle. If you do not pay your insurance premiums, the lender may insure your Porsche at a much higher rate and force you to pay much more than you were paying before.
- Insurance protects both your Porsche and your personal assets. It will also pay for medical bills for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of insuring your car are definitely more than the cost, especially for larger claims. But the average driver in Kentucky is wasting up to $800 each year so shop around at every renewal to make sure the price is not too high.
How to find a good Lexington auto insurance company
Selecting the best auto insurance provider can be challenging considering how many companies sell insurance in Kentucky. The company rank data in the next section could help you analyze which coverage providers to look at comparing price quotes from.
Top 10 Lexington Car Insurance Companies Ranked by Customer Service
- USAA
- Travelers
- AAA Insurance
- Nationwide
- Safeco Insurance
- Progressive
- State Farm
- The Hartford
- The General
- Esurance
Top 10 Lexington Car Insurance Companies Overall
- Travelers
- USAA
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
- American Family
Can’t I compare rate quotes from local Lexington insurance agencies?
Many drivers still prefer to get professional advice from a licensed agent and that can be a smart move Insurance agents can point out coverage gaps and help in the event of a claim. A nice benefit of comparing rates online is you may find lower rates and also buy local.
For easy comparison, once you complete this quick form, the coverage information is instantly submitted to insurance agents in Lexington that can give you free Lexington car insurance quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to leave your house due to the fact that quote results will go to your email. If for some reason you want to get a rate quote from a specific company, feel free to go to their quote page and submit a quote form there.
Deciding on an insurer requires more thought than just a low price. The questions below may impact your decision as well.
- Are they primarily personal or commercial lines agents in Lexington?
- What insurance companies do they work with in Lexington?
- Does the company have a local claim office in Lexington?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- Which insurance company do they prefer to write with?
- Are you getting all the discounts the company offers?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
- How long has the business existed?
If you would like to find a local Lexington insurance agency, it helps to know the two types of insurance agents from which to choose. Insurance policy providers are either exclusive or independent (non-exclusive). Either can insure your vehicles properly, but it’s a good idea to understand the differences since it can affect the type of agent you choose.
Exclusive Insurance Agents
Agents that choose to be exclusive generally can only insure with one company like Allstate, Farmers Insurance, State Farm, and AAA. They generally cannot provide prices from multiple companies so it’s a take it or leave it situation. Exclusive agencies are highly trained on their company’s products and that enables them to sell even at higher rates. Consumers frequently buy from exclusive agents partially due to the brand and solid financial strength.
Shown below are Lexington exclusive insurance agents that are able to give price quote information.
- Stewart Perry – State Farm Insurance Agent
2128 Nicholasville Rd – Lexington, KY 40503 – (859) 277-7195 – View Map - Russ Tucker – State Farm Insurance Agent
1206 N Broadway – Lexington, KY 40505 – (859) 259-0404 – View Map - State Farm: Bethany Hicks
1050 Chinoe Rd #100 – Lexington, KY 40502 – (859) 264-0246 – View Map
Independent Agents
Agents of this type are not required to write business for one company and that gives them the ability to insure through many different insurance companies and find the cheapest rate. If they find a cheaper price, they simply move your policy to a different company and you don’t have to find a new agent. If you are trying to find cheaper rates, you will definitely want to contact a few independent agents to have the most options to choose from. Many independent agencies also insure through companies that do not advertise much that many times have cheaper rates.
The following are independent agents in Lexington that are able to give price quotes.
- Kentucky Insurance Inc
1750 Alexandria Dr – Lexington, KY 40504 – (859) 277-8877 – View Map - Reynolds Insurance Agency Inc
1500 Leestown Rd #160 – Lexington, KY 40511 – (859) 412-4636 – View Map - Sullivan Insurance Agency
635 N Broadway – Lexington, KY 40508 – (859) 233-1637 – View Map
After you get acceptable answers to these questions and an acceptable price quote, you have narrowed it down to an insurance agent that is reputable and can properly service your insurance policy.