Truthfully, the best way to get low-cost Porsche Cayenne insurance is to compare prices annually from different companies in Lexington. You can shop around by following these steps.
- First, read and learn about the different coverages in a policy and the modifications you can make to prevent expensive coverage. Many rating factors that are responsible for high rates like traffic citations, accidents, and an unacceptable credit history can be eliminated by making minor changes in your lifestyle.
- Second, request rate estimates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only provide price estimates from a single company like GEICO or State Farm, while agents who are independent can quote prices from multiple insurance companies. View insurance agents
- Third, compare the new rates to your existing coverage to see if cheaper Cayenne coverage is available. If you can save some money and change companies, make sure coverage is continuous and does not lapse.
The critical component of shopping around is to try to compare identical limits and deductibles on every quote request and to quote with as many companies as you can. This enables an accurate price comparison and a complete rate analysis.
A recent insurance study revealed that most insurance policyholders have been with the same company for four years or more, and 38% of customers have never shopped around. With the average premium in Kentucky being $2,134, drivers could save themselves as much as 30% a year just by comparing rates, but most undervalue the amount of money they would save if they switch to a new company.
The method we recommend to compare car insurance company rates for Porsche Cayenne insurance in Lexington is to know the trick most of the bigger providers actually pay money for the chance to compare their rates. The one thing you need to do is spend a couple of minutes providing details including level of coverage desired, any included safety features, an estimate of your credit level, and how your vehicles are used. The data gets transmitted to insurance carriers in your area and you receive quotes with very little delay.
To get price quotes for your Porsche Cayenne now, click here then complete the form.
The companies in the list below can provide comparison quotes in Lexington, KY. To get the best car insurance in Lexington, KY, we recommend you visit two to three different companies in order to get a fair rate comparison.
Rates and data analysis
The rate table below outlines estimates of coverage costs for Porsche Cayenne models. Learning how policy premiums are determined is important for drivers to make decisions when choosing a new policy provider.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cayenne | $278 | $534 | $396 | $24 | $118 | $1,350 | $113 |
| Cayenne S | $304 | $606 | $396 | $24 | $118 | $1,448 | $121 |
| Cayenne GTS | $304 | $676 | $396 | $24 | $118 | $1,518 | $127 |
| Cayenne S Transyberia | $304 | $676 | $396 | $24 | $118 | $1,518 | $127 |
| Cayenne GTS PD Edition 3 | $330 | $746 | $396 | $24 | $118 | $1,614 | $135 |
| Cayenne Turbo | $356 | $746 | $396 | $24 | $118 | $1,640 | $137 |
| Cayenne Turbo S | $408 | $886 | $396 | $24 | $118 | $1,832 | $153 |
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Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Table data does not factor in specific garaging location which can change auto insurance rates greatly.
Violations and accidents raise rates
The information below demonstrates how traffic citations and accident claims can increase Porsche Cayenne insurance rates for different age groups of insureds. The premium estimates are based on a single female driver, comp and collision included, $1,000 deductibles, and no additional discounts are factored in.
Difference between full coverage and liability only rates
The illustration below compares Porsche Cayenne auto insurance rates when comparing full coverage to state minimum liability only. The premiums assume a clean driving record, no claims, $500 deductibles, drivers are not married, and no discounts are factored in.
When to stop paying for full coverage
There is no set guideline of when to drop physical damage coverage, but there is a general guideline. If the yearly cost of full coverage is more than 10% of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your Porsche Cayenne claim settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $6,000 after paying your deductible. If you are paying over $600 a year to have full coverage, then it could be time to drop full coverage.
There are some scenarios where buying only liability insurance is not recommended. If you still have a lienholder on your title, you have to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should maintain full coverage.
Insurance in Kentucky serves several purposes
Despite the high cost of buying insurance for a Porsche Cayenne in Lexington, buying insurance may be required for several reasons.
- Most states have mandatory insurance requirements which means state laws require specific minimum amounts of liability coverage 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 Cayenne has a loan, most lenders will force you to buy insurance to guarantee payment of the loan. If you do not pay your insurance premiums, the lender may insure your Porsche at a much higher rate and force you to reimburse them the higher premium.
- Insurance protects not only your Porsche Cayenne but also your assets. It will also cover hospital and medical expenses for you, your passengers, and anyone else injured in 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 you have damage to your Porsche as the result of the weather or an accident, collision and comprehensive coverages will pay to repair the damage.
The benefits of buying enough insurance outweigh the cost, particularly if you ever have a claim. But the average driver in Kentucky overpays as much as $810 a year so it’s very important to do a rate comparison once a year at a minimum to ensure rates are inline.
Educate yourself about auto insurance coverages
Knowing the specifics of your auto insurance policy can be of help when determining the right coverages at the best deductibles and correct limits. The terms used in a policy can be ambiguous and coverage can change by endorsement.
Collision coverage – Collision insurance will pay to fix damage to your Cayenne resulting from a collision with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for things such as backing into a parked car, rolling your car, scraping a guard rail, damaging your car on a curb and hitting a parking meter. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to choose a higher deductible on your Cayenne to bring the cost down.
Comprehensive insurance – This pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive insurance covers things such as fire damage, damage from getting keyed and damage from a tornado or hurricane. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP pay for expenses for things like nursing services, pain medications, surgery and rehabilitation expenses. The coverages can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay
Liability insurance – Liability insurance can cover damage or injury you incur to a person or their property by causing an accident. Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show liability limits of 25/50/10 that translate to $25,000 bodily injury coverage, $50,000 for the entire accident, and property damage coverage for $10,000. Alternatively, you may have one number which is a combined single limit which provides one coverage limit with no separate limits for injury or property damage.
Liability coverage protects against things like medical expenses, attorney fees and funeral expenses. How much coverage you buy is a personal decision, but consider buying as much as you can afford. Kentucky requires drivers to carry at least 25/50/10 but you should think about purchasing higher limits.
The next chart shows why buying minimum limits may not provide you with enough coverage.
Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage provides protection when the “other guys” do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants and damage to your Porsche Cayenne.
Since many Kentucky drivers carry very low liability coverage limits (Kentucky limits are 25/50/10), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea. Most of the time these limits are set the same as your liability limits.