Car Insurance Quotes for a Porsche Boxster in Minneapolis

It’s safe to conclude that auto insurance companies want to keep your business as long as possible. People who get price quotes annually will most likely buy a different policy because there is a good probability of finding a policy with better rates. A survey found that people who regularly compared price quotes saved over $3,400 over four years as compared to drivers who don’t make a habit of comparing rates.

If finding budget-friendly car insurance is your ultimate objective, then having a good understanding how to find companies and compare car insurance can make the process less intimidating.

Insurance rates Porsche Boxster in MinneapolisIf you want to find the absolute lowest rates, then the best way to find affordable quotes for Porsche Boxster insurance in Minneapolis is to compare prices once a year from companies in Minnesota.

A good tip to remember is to compare the same coverage limits and deductibles on each quote and to quote with as many companies as possible. Doing this helps ensure a level playing field and a complete price analysis.

If you are paying for car insurance now, you will most likely be able to find the best rates using the concepts covered in this article. This article’s goal is to familiarize you with the most effective way to quote insurance and some tips to save money. But Minnesota consumers can benefit from knowing the methods companies use to determine what you pay because rates are impacted by many factors.

Why Smart Buyers Pay Less for Porsche Boxster Insurance

A large part of saving on auto insurance is knowing the rating factors that are used to determine the level of your policy premiums. When consumers understand what determines premiums, this allows you to make educated decisions that will entitle you to cheaper rates. Lots of factors are part of the calculation when you get a price on insurance. Some are obvious such as your driving record, but other factors are less obvious such as your marital status and annual miles driven.

Porsche Boxster insurance analysis

The price information below outlines detailed analysis of insurance premium costs for Porsche Boxster models. Having a better understanding of how auto insurance policy rates are calculated can assist in making informed coverage decisions.

Porsche Boxster Insurance Rates in Minneapolis, MN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Boxster 2-Dr Convertible $330 $756 $350 $20 $104 $1,560 $130
Boxster S 2-Dr Convertible $364 $854 $350 $20 $104 $1,692 $141
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Table data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Minnesota minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Rates do not factor in zip code location which can impact insurance rates substantially.

Where to set your deductibles

One frequently asked question is where to set your physical damage deductibles. The rates below may help you to understand the rate fluctuation between low and high deductibles. The first data set uses a $100 deductible and the second price grid uses a $500 deductible.

Porsche Boxster insurance premium estimates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Boxster 2-Dr Convertible $344 $668 $270 $16 $80 $1,403 $117
Boxster S 2-Dr Convertible $378 $756 $270 $16 $80 $1,525 $127
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Porsche Boxster insurance premium estimates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Boxster 2-Dr Convertible $250 $452 $270 $16 $80 $1,068 $89
Boxster S 2-Dr Convertible $276 $512 $270 $16 $80 $1,154 $96
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Price information does not factor in vehicle garaging location which can raise or lower coverage rates considerably.

Based on the figures above, using a $100 deductible costs about $29 more each month or $348 each year than selecting the higher $500 deductible. Since you would pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you go more than 14 months between claims, you would probably be better off if you choose a higher deductible. The illustration below shows the way you can do this calculation yourself.

Average monthly premium for $100 deductibles: $122
Average monthly premium for $500 deductibles (subtract): – $93
Monthly savings from raising deductible: $29
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $29
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 14 months

One big caveat is that increasing deductibles to lower your rates results in a higher out-of-pocket expense when you do file a claim. You must have enough disposable savings in the event you have to pay the deductible to have repairs made.

The information below illustrates how choosing a deductible and can change Porsche Boxster insurance prices for different age categories. The costs are based on a married female driver, comp and collision included, and no other discounts are factored in.

Difference between liability only and full coverage rates

The example below shows the difference between Porsche Boxster insurance premiums with full coverage and liability only. The rates are based on no violations or claims, $1,000 deductibles, single status, and no additional discounts are factored in.

When to stop buying comprehensive and collision coverage

There is no set guideline to drop full coverage on your policy, but there is a general convention. If the annual cost of comprehensive and collision coverage is 10% or more of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.

For example, let’s assume your Porsche Boxster claim settlement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company would pay you is $5,000 after paying your deductible. If premiums are more than $500 annually for physical damage coverage, then it might be time to buy liability only.

There are a few situations where only buying liability is not in your best interest. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should not consider dropping full coverage.

You may qualify for discounts for Porsche Boxster insurance in Minneapolis

Some companies don’t list all available discounts very well, so the list below gives a summary of some of the best known and also the lesser-known auto insurance savings. If you aren’t receiving every discount possible, you are just wasting money.Discount auto insurance

Policy discounts save money, but some credits don’t apply to the overall cost of the policy. Some only apply to the cost of specific coverages such as liability, collision or medical payments. Even though it may seem like having all the discounts means you get insurance for free, nobody gets a free ride.

The chart below illustrates the difference between Porsche Boxster insurance rates with and without discounts applied to the policy premium. The data is based on a male driver, no accidents, no driving violations, Minnesota state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, multi-policy, homeowner, claim-free, and multi-car discounts applied.

A few popular companies and some of the premium reductions they offer include:

If you are trying to find affordable Porsche Boxster insurance quotes, ask each company or agent which credits you are entitled to. A few discounts may not be offered in every state. To see a list of providers that provide some of the discounts listed above in Minnesota, follow this link.

Ratings for Minnesota auto insurance companies

Choosing the right car insurance company can be rather challenging considering how many different companies there are to choose from in Minneapolis. The company information shown below can help you analyze which auto insurers you want to consider to insure your vehicles.

Top 10 Minneapolis Car Insurance Companies Ranked by Claims Service

  1. Progressive
  2. Travelers
  3. Liberty Mutual
  4. Nationwide
  5. USAA
  6. AAA Insurance
  7. GEICO
  8. Safeco Insurance
  9. Mercury Insurance
  10. Esurance

Shop smart and save

More affordable auto insurance in Minneapolis is attainable from both online companies as well as from insurance agents, and you need to comparison shop both so you have a total pricing picture. A few companies do not provide rates over the internet and many times these smaller companies only sell through independent agencies.

You just read some good ideas how you can save on Porsche Boxster insurance in Minneapolis. The key concept to understand is the more rate comparisons you have, the higher the chance of saving money. You may even be surprised to find that the lowest premium rates are with a company that doesn’t do a lot of advertising.

Insureds who switch companies do it for a number of reasons such as delays in responding to claim requests, policy cancellation, denial of a claim and high prices. No matter why you want to switch, finding a new company can be easier than you think.

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