Frustrated by the number of insurance sources that you can choose from? Kentucky consumers have so many choices that it can really be a ton of work to find the lowest price for Porsche Cayman insurance in Lexington. Everyone knows that Lexington is an awesome place to live, but expensive insurance premiums can make it impossible to buy proper levels of coverage.
How to find more affordable Porsche Cayman insurance in Lexington
If you want to save money, the best way to find affordable quotes for Porsche Cayman insurance in Lexington is to start comparing rates regularly from insurance carriers who provide auto insurance in Kentucky. Drivers can shop around by following these steps.
- Get an understanding of auto insurance and the measures you can control to drop your rates. Many things that are responsible for high rates such as distracted driving and a not-so-good credit score can be remedied by making minor changes to your lifestyle. This article provides the details to help reduce premium rates and get discounts that may be overlooked.
- Request price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give rate quotes from a single company like Progressive or Allstate, while independent agencies can quote rates for many different companies.
- Compare the quotes to the premium of your current policy to see if switching to a new carrier will save money. If you find a lower rate quote and decide to switch, make sure coverage is continuous and does not lapse.
An important part of this process is to compare the same deductibles and limits on each price quote and and to get price estimates from all possible companies. Doing this helps ensure a fair rate comparison and plenty of rates choose from.
It’s amazing but a large majority of insurance policyholders kept their coverage with the same insurance company for well over three years, and roughly 40% of drivers have never shopped around. Most drivers in Kentucky can cut their rates by as much as $631 a year by just comparing quotes, but they underestimate how much money they would save if they replace their high priced policy.
It’s important to take a look at other company’s rates occasionally because rates are usually higher with each renewal. Even if you got the best premium rates on Porsche Cayman insurance in Lexington a few years ago you can probably find a lower rate today. Forget all the misinformation about insurance because you’re going to get a crash course in the quickest way to find lower rates on insurance.
These tips will tell you how auto insurance companies operate and some money-saving tips. If you have a current auto insurance policy, you will surely be able to shop for the lowest rates using the tips covered below. But Kentucky vehicle owners do need to understand how companies price insurance differently because rates fluctuate considerably.
Cheapest car insurance in Lexington, KY
The car insurance companies shown below can provide quotes in Lexington, KY. To buy cheap car insurance in Lexington, we recommend you get prices from several of them to get a more complete price comparison.
Car insurance data for a Porsche Cayman
The rate information displayed next outlines different insurance policy prices for Porsche Cayman models. Having insight into how policy premiums are formulated can aid in making decisions on which coverage to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cayman 2-Dr Coupe | $246 | $410 | $428 | $26 | $128 | $1,238 | $103 |
| Cayman S 2-Dr Coupe | $246 | $458 | $428 | $26 | $128 | $1,286 | $107 |
| Get Your Own Custom Quote Go | |||||||
Table data represents single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Rate quotes do not factor in specific Lexington garaging location which can influence auto insurance rates considerably.
Raise deductibles and save
When shopping for car insurance, a common question is the level to set your comp and collision deductibles. The comparison tables below can help you understand the price difference of buying low and high insurance deductibles. The first pricing table uses a $250 physical damage coverage deductible and the second price chart uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cayman 2-Dr Coupe | $350 | $652 | $326 | $20 | $98 | $1,471 | $123 |
| Cayman S 2-Dr Coupe | $350 | $728 | $326 | $20 | $98 | $1,547 | $129 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cayman 2-Dr Coupe | $284 | $526 | $326 | $20 | $98 | $1,254 | $105 |
| Cayman S 2-Dr Coupe | $284 | $588 | $326 | $20 | $98 | $1,316 | $110 |
| Get Your Own Custom Quote Go | |||||||
Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Rate quotes do not factor in specific garaging location which can raise or lower premium rates considerably.
Based on this data, using a $250 deductible costs roughly $18 more each month or $216 for a full year averaged for all Cayman models than selecting the higher $500 deductible. Since you would pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you normally average at a minimum 14 months between claims, you would probably be better off if you choose a higher deductible.
The chart below illustrates how choosing a deductible and can raise or lower Porsche Cayman insurance premiums for different categories of driver ages. The premiums assume a single female driver, full coverage, and no discounts are applied.
How Insurers Determine Porsche Cayman Insurance Rates
The best way to find cheaper auto insurance is to take a look at a few of the rating criteria that aid in calculating your premiums. When consumers understand what impacts premium levels, this allows you to make good choices that can earn you cheaper rates.
- Credit history impacts premium premiums – Having a bad credit history will be a significant factor in determining what you pay. Therefore, if your credit leaves room for improvement, you could potentially save money when insuring your Porsche Cayman by improving your rating. People that have high credit ratings tend to be better drivers and file fewer claims than drivers with bad credit.
- Job can influence rates – Careers such as fire fighters, airline pilots, and emergency personnel have higher premium rates in part from intense work-related stress and extremely grueling work hours. On the flip side, occupations like actors, athletes and performers generally pay rates lower than average.
- Deter vehicle theft – Owning a car with a theft deterrent system can earn a premium discount. Theft prevention features like GM’s OnStar, tamper alarm systems and vehicle immobilizers can thwart vehicle theft.
- Get better rates if you’re married – Having a wife or husband actually saves money compared to being single. Having a significant other means you’re more mature and responsible and insurance companies reward insureds because married drivers get in fewer accidents.
- Adjust comp and collision deductibles and save – Physical damage insurance, termed comprehensive and collision coverage on your policy, helps pay for damage to your vehicle. Some instances where coverage would apply are a dented fender, vandalism, and damage caused by flying debris. Physical damage deductibles are the amount of money the insured will be required to pay before a claim is paid by your company. The larger the amount the insured is willing to pay, the less money you will pay for auto insurance.
- Don’t skimp on liability coverage – The liability section of your policy will protect you when a jury decides you are liable for physical damage or personal injury to other. Liability provides legal defense coverage starting from day one. Carrying liability coverage is mandatory and cheap compared to comp and collision, so insureds should have plenty of protection for their assets.
- Drive fewer miles and save – Driving more miles in a year the more you’ll pay to insure it. The majority of insurers apply a rate based upon how much you drive. Cars that do not get driven very much cost less to insure than those that get driven frequently. Having the wrong rating on your Cayman may be costing you higher rates. It’s a smart idea to ensure your vehicle rating is showing the proper vehicle usage.
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Youthful drivers pay more – Older drivers are more cautious drivers, cause fewer claims and accidents, and receive fewer citations. Teenage drivers tend to be easily distracted when at the wheel of a vehicle so they pay higher auto insurance rates.
The next chart is based on a single driver, full coverage with $250 deductibles, and no discounts or violations.
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Porsche Cayman insurance claim data – Car insurance companies use statistical claims data in order to profitably underwrite each model. Vehicles that statistically have higher claim frequency or loss amount will have higher premium rates. The table below outlines the insurance loss data for Porsche Cayman vehicles.
For each policy coverage type, the claim amount for all vehicles averaged together is a value of 100. Values that are under 100 indicate better than average losses, while numbers above 100 indicate higher probability of having a loss or statistically larger claims.
Porsche Cayman Insurance Loss Statistics Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Porsche Cayman 2dr 183 40 99 36 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Discounts can help lower rates on Porsche Cayman insurance in Lexington
Some companies don’t always publicize all discounts in a way that’s easy to find, so the next list breaks down both the well known and also the lesser-known savings tricks you should be using when you buy Lexington auto insurance online. If you do not double check each discount possible, you could be saving more on your insurance.
- Discounts for Seat Belt Usage – Forcing all vehicle occupants to wear their seat belts can save up to 10 percent (depending on the company) off the medical payments premium.
- Driver Safety – Taking a course in safe driver could save 5% or more and also improve your driving technique.
- Passive Restraints and Air Bags – Vehicles equipped with air bags or automatic seat belts may earn rate discounts up to 30%.
- Accident Free – Claim-free drivers are rewarded with significantly better rates on Lexington auto insurance quote as compared to insureds who have frequent claims or accidents.
- Student Driver Training – It’s a good idea to have your young drivers enroll in driver’s education as it can save substantially.
- More Vehicles More Savings – Buying insurance for all your vehicles with one company can reduce rates for all insured vehicles.
- Include Life Insurance and Save – If the company offers life insurance, you could get a small discount if you purchase some life insurance too.
As a disclaimer on discounts, most discounts do not apply to the entire policy premium. The majority will only reduce the cost of specific coverages such as liability and collision coverage. Even though the math looks like all those discounts means the company will pay you, insurance companies wouldn’t stay in business. But any discount will help reduce your policy cost.
The diagram below shows the comparison of Porsche Cayman insurance prices with and without discounts applied to the rates. The data is based on a female driver, no claims or driving citations, Kentucky state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, multi-car, marriage, claim-free, and multi-policy discounts applied.
Auto insurance companies that may offer these discounts include:
When quoting, ask every prospective company how many discounts you can get. A few discounts may not apply to policyholders in every state. To find insurers with the best discounts in Lexington, click here.
Compare rates but work with a neighborhood Lexington auto insurance agent
Certain consumers prefer to sit down and talk to an agent and there is nothing wrong with that. The best thing about comparing rates online is that you can obtain the lowest rates and also buy local. Buying from local insurance agencies is especially important in Lexington.
For easy comparison, once you complete this simple form, your insurance data gets sent to insurance agents in Lexington who want to provide quotes for your insurance coverage. You don’t have to even leave your home because prices are sent immediately to your email address. You can find the lowest rates AND an agent nearby. If you wish to get a price quote from a specific insurance company, just find their quoting web page and fill out the quote form the provide.
Do you need an independent or exclusive auto insurance agent?
If you’re trying to find a good Lexington insurance agent, it’s important to understand the different agency structures and how they differ in how they can insure your vehicles. Agents in Lexington can be described as either independent agents or exclusive agents depending on their employer.
Independent Agents
Agents that choose to be independent do not have single company limitations so they have the ability to put coverage through many different insurance companies and find you the best rates. To transfer your coverage to a different company, the agent simply finds a different carrier and the insured can keep the same agent. When shopping rates, we highly recommend that you get quotes from a few independent agents in order to have the best price comparison. They often place coverage with additional companies that you may not be familiar with that many times have cheaper rates.
Listed below is a short list of independent insurance agencies in Lexington who can help you get free insurance rate quotes.
- Al Torstrick Insurance Agency
343 Waller Ave #101 – Lexington, KY 40504 – (859) 233-1461 – View Map - Kent Smith Insurance / The Randolph Scott Agency
1025 Dove Run Rd #302 – Lexington, KY 40502 – (859) 225-5616 – View Map - Nationwide Insurance: Turner Ins Group LLC
3320 Clays Mill Rd #211 – Lexington, KY 40503 – (859) 219-0972 – View Map
Exclusive Insurance Agencies
These type of agents are contracted to one company such as State Farm, Allstate, and Farm Bureau. Exclusive agencies are unable to give you multiple price quotes so they have to upsell other benefits. They are very knowledgeable on their company’s products which helps them sell on service rather than price. A lot of people buy from the same agent for years primarily because of the brand name and the convenience of having a single billing for all their coverages.
Listed below is a list of exclusive insurance agencies in Lexington who can help you get price quotes.
- State Farm: Mike Brownell
501 Darby Creek Rd – Lexington, KY 40509 – (859) 543-8454 – View Map - Dwight McCarty – State Farm Insurance Agent
3620 Walden Dr #211 – Lexington, KY 40517 – (859) 971-0266 – View Map - State Farm – Bob Pitman
851 Corporate Dr Ste 200 – Lexington, KY 40503 – (859) 223-1191 – View Map
Finding a good insurance agency requires you to look at more than just a cheap price. These are valid questions to ask:
- Do they see any coverage gaps in your plan?
- What kind of financial rating does the company have?
- Who are their largest clients?
- Is every driver in your family covered?
- Are you getting all the discounts the company offers?
Lexington car insurance company ratings
Picking a good quality car insurance company is hard considering how many different companies insure vehicles in Lexington. The rank data listed below can help you choose which car insurance providers to look at shopping your coverage with.
Top 10 Lexington Car Insurance Companies Ranked by Claims Service
- Travelers
- Allstate
- Nationwide
- State Farm
- GEICO
- Liberty Mutual
- American Family
- Esurance
- AAA Insurance
- The Hartford
Top 10 Lexington Car Insurance Companies Ranked by Value
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- Erie Insurance
- The General
- Esurance
- 21st Century
Different people need different car insurance coverages
When it comes to a policy for your vehicles, there really is no “perfect” insurance plan. Each situation is unique.
For instance, these questions may help highlight if your situation would benefit from an agent’s advice.
- How high should my medical payments coverage be?
- How can I get my company to pay me more for my totaled car?
- Which companies are cheaper for teen drivers?
- Am I covered if hit by an uninsured driver?
- Do I have coverage for damage caused while driving under the influence?
- Does liability extend to a camper or trailer?
- Am I covered if I break a side mirror?
If you’re not sure about those questions, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, complete this form.
Final considerations
Consumers who switch companies do it for any number of reasons including policy cancellation, high rates after DUI convictions, questionable increases in premium and lack of trust in their agent. It doesn’t matter what your reason, switching companies can be easy and end up saving you some money.
There are still a few companies who don’t offer rates over the internet and many times these small, regional companies prefer to sell through independent agents. More affordable auto insurance in Lexington is available both online and from local agencies, so you should compare both to have the best chance of lowering rates.
As you prepare to switch companies, it’s not a good idea to buy less coverage just to save a little money. In many cases, drivers have reduced uninsured motorist or liability limits only to find out that their decision to reduce coverage ended up costing them more. Your goal is to get the best coverage possible at an affordable rate while still protecting your assets.
How to find affordable quotes for Porsche Cayman insurance in Lexington
If saving the most money is your goal, then the best way to find the cheapest price for Porsche Cayman insurance in Lexington is to compare prices annually from providers who sell auto insurance in Kentucky. You can shop around by following these steps.
Step 1: Spend some time learning about what coverages are included in your policy and the measures you can control to prevent expensive coverage. Many rating factors that cause high rates such as getting speeding tickets and a bad credit score can be controlled by making minor driving habit or lifestyle changes.
Step 2: Get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can provide rates from one company like GEICO or Allstate, while independent agencies can quote rates from multiple companies.
Step 3: Compare the quotes to the premium of your current policy and see if there is a cheaper rate in Lexington. If you can save money and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
A valuable tip to remember is to compare the same level of coverage on every quote and to quote with as many companies as possible. Doing this ensures a fair price comparison and a thorough price selection.
Much more information about auto insurance in Kentucky can be found at the links below
- Bodily Injury Coverage (Liberty Mutual)
- Who Has the Cheapest Lexington Car Insurance Rates for Drivers Under 21? (FAQ)
- How Much are Lexington Auto Insurance Rates for a Hyundai Elantra? (FAQ)
- Who Has the Cheapest Car Insurance for Active Military in Lexington? (FAQ)
- What are my Rights when Filing a Claim? (Insurance Information Institute)
- Insuring a Leased Car (Insurance Information Institute)