Do you want a faster way to compare more affordable Porsche Cayman insurance in Memphis? Do you get exhausted from robbing Peter to pay Paul to keep your car insured? You are no different than millions of other people.
A recent auto insurance study revealed that a large majority of consumers have purchased from the same company for more than four years, and just short of a majority have never quoted auto insurance rates at all. Memphis drivers can cut their rates by $500 a year, but they assume it's a waste of time to find cheap auto insurance rates.
Many auto insurance companies compete for your insurance dollar, so it can be very hard to choose a company and get the definite cheapest price on Porsche Cayman insurance in Memphis.
When comparison shopping, there are several ways to compare quotes from different Memphis insurance companies. By far the easiest way to compare rates is to perform an online rate comparison.
Doing online quotes comparisons is so easy that it takes the place of having to call or drive to insurance agencies in your area. The fact that you can get quotes online has made agencies unnecessary unless you're the type of person who wants the trained advice of a local agency. Some companies do allow you to obtain prices from the web but purchase the actual policy in an agency.
Just remember that comparing more prices will increase your chances of finding a lower rate than you're paying now. Some companies don't provide Memphis Cayman insurance quotes over the internet, so it's important to compare price quotes from them, too.
The companies in the list below have been selected to offer price quotes in Tennessee. If multiple providers are shown, it's a good idea that you get prices from several of them to find the cheapest car insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cayman 2-Dr Coupe||$194||$386||$272||$16||$82||$950||$79|
|Cayman S 2-Dr Coupe||$282||$592||$298||$18||$90||$1,280||$107|
|Get Your Own Custom Quote Go|
Data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Information does not factor in vehicle garaging location which can affect insurance rates substantially.
Higher deductibles save money
The information below demonstrates how deductible levels and can influence Porsche Cayman premium costs for different age groups of insureds. The costs are based on a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
Porsche Cayman insurance premiums by gender and age
The information below compares Porsche Cayman car insurance rates for male and female drivers. The data is based on a clean driving record, no at-fault accidents, comprehensive and collision coverage, $500 deductibles, drivers are not married, and no policy discounts are applied.
Get cheap rates on Porsche Cayman insurance in Memphis with these six discounts
Buying car insurance is not cheap, but discounts can save money and there are some available that can drop the cost substantially. Many of these discounts will be applied automatically at quote time, but a few must be specially asked for before you get the savings. If you check and find you aren't receiving every discount you qualify for, you are not getting the best rate possible.
- Pay Upfront and Save - If you can afford to pay the entire bill rather than spreading payments over time you can actually save on your bill.
- Memphis Homeowners Pay Less - Owning your own home or condo may earn you a small savings because of the fact that having a home shows financial diligence.
- Theft Deterrent - Vehicles that have factory anti-theft systems can help prevent theft and qualify for as much as a 10% discount.
- Smart Student Discounts - Excelling in school can save 20 to 25%. Most companies allow this discount up until you turn 25.
- Club Memberships - Affiliation with specific professional or occupational memberships or organizations could earn you a nice discount on your next car insurance statement.
- Auto/Home Discount - If you insure your home and vehicles and insure them with the same company you could earn a discount of up to 20% and get you inexpensive Porsche Cayman insurance in Memphis.
Just know that many deductions do not apply to the overall cost of the policy. Most only reduce the cost of specific coverages such as liability and collision coverage. So when the math indicates you would end up receiving a 100% discount, nobody gets a free ride. Any amount of discount will bring down the cost of your policy.
The best car insurance companies and their possible discounts can be read below.
- GEICO policyholders can earn discounts including five-year accident-free, multi-policy, seat belt use, multi-vehicle, and membership and employees.
- Travelers offers discounts for IntelliDrive, payment discounts, home ownership, multi-policy, and new car.
- Farm Bureau may offer discounts for renewal discount, good student, safe driver, youthful driver, driver training, and multi-vehicle.
- Liberty Mutual offers discounts including new graduate, preferred payment discount, multi-car, safety features, newly married, and newly retired.
- American Family has discounts for multi-vehicle, air bags, defensive driver, accident-free, Steer into Savings, and mySafetyValet.
- Progressive discounts include multi-vehicle, multi-policy, continuous coverage, online signing, and good student.
When getting a coverage quote, ask every prospective company which credits you are entitled to. Some of the discounts discussed earlier may not apply to policyholders in Memphis. To see companies with the best Porsche Cayman insurance discounts in Tennessee, click this link.
Comparing prices from local Memphis insurance agencies
Some consumers prefer to buy from a local agent and doing that can be a smart decision A good thing about getting free rate quotes online is the fact that you can find cheap rate quotes and also buy local.
For easy comparison, once you complete this form (opens in new window), the quote information gets sent to insurance agents in Memphis that can provide free Memphis auto insurance quotes and help you find cheaper coverage. It makes it easy because there is no need to even leave your home due to the fact that quote results will go directly to you. You can find lower rates AND an agent nearby. If you have a need to compare prices from a specific car insurance provider, you can always search and find their rate quote page to submit a rate quote request.
Choosing an company requires you to look at more than just a cheap quote. Here are some questions you might want to ask.
- Do they have any clout with companies to ensure a fair claim settlement?
- How many years have they been established?
- Will you work with the agent or an assistant?
- Which companies do they recommend if they are an independent agency?
- Will the company cover a rental car if your car is getting fixed?
- Do they receive special compensation for putting your coverage with one company over another?
- What discounts might you be missing?
Different types of Memphis car insurance agents
If you are wanting to purchase car insurance from a local insurance agency, you should know the different types of agents and how they can service your needs differently. Car insurance agencies are categorized either independent agents or exclusive agents depending on their employer.
Exclusive Insurance Agencies
Exclusive agencies can only provide one company's prices and some examples include Allstate, State Farm and Farmers Insurance. They generally cannot provide rate quotes from other companies so they have no alternatives for high prices. Exclusive insurance agents are highly trained on their company's products which helps overcome the inability to quote other rates.
Listed below is a short list of exclusive agencies in Memphis that can give you comparison quotes.
Dan Crawford - State Farm Insurance Agent
5705 Stage Rd #160 - Memphis, TN 38134 - (901) 372-4400 - View Map
Independent Agencies or Brokers
Independent agents do not sell for just one brand and that is an advantage because they can write policies with multiple insurance companies and find the cheapest rate. If your agent finds better pricing, your agent can switch companies and the insured can keep the same agent. When comparing car insurance rates, you absolutely need to compare quotes from a few independent agents in order to have the best price comparison.
Shown below are independent insurance agencies in Memphis that are able to give comparison quotes.
It's not one size fits all
When it comes to the best insurance coverage for your vehicles, there is no cookie cutter policy. Every situation is different and a cookie cutter policy won't apply. For instance, these questions may help highlight if you will benefit from professional help.
- What is an umbrella policy?
- Do I have ACV or replacement cost coverage?
- Are there companies who specialize in insuring high-risk drivers?
- How much cheaper are high deductibles?
- Is borrowed equipment or tools covered if stolen or damaged?
- Am I covered if I back into my garage door?
- Am I covered when delivering products for my home-based business?
If you can't answer these questions but one or more may apply to you, then you may want to think about talking to an insurance agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies.
Buying the right vehicle insurance in Tennessee is an important decision
Despite the high cost of buying insurance for a Porsche Cayman in Memphis, maintaining insurance may be required and benefits you in several ways.
- The majority of states have compulsory liability insurance requirements which means you are required to buy specific minimum amounts of liability coverage in order to drive the car legally. In Tennessee 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 you have a loan on your vehicle, it's guaranteed your bank will have a requirement that you buy full coverage to ensure they get paid if you total the vehicle. If you do not keep the policy in force, the bank may buy a policy for your Porsche at a much higher premium rate and make you pay for it.
- Insurance protects your Porsche Cayman and your assets. It will also pay for most medical and hospital costs for not only you but also any passengers injured in an accident. One policy coverage, liability insurance, will also pay for a defense attorney if you are named as a defendant in an auto accident. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay to have it repaired.
The benefits of insuring your Cayman outweigh the cost, specifically if you ever have a liability claim. Despite what companies tell you, the average driver overpays as much as $850 per year so it's important to compare rates at least once a year to ensure rates are competitive.
Auto insurance policy specifics
Knowing the specifics of your policy can help you determine the right coverages and proper limits and deductibles. The terms used in a policy can be confusing and even agents have difficulty translating policy wording. These are typical coverage types available from auto insurance companies.
Liability coverages - This coverage can cover damages or injuries you inflict on other people or property. It protects you from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 25/50/15 that means you have $25,000 in coverage for each person's injuries, $50,000 for the entire accident, and a total limit of $15,000 for damage to vehicles and property.
Liability can pay for things such as medical services, court costs, pain and suffering, bail bonds and repair costs for stationary objects. How much coverage you buy is a personal decision, but buy as much as you can afford. Tennessee state law requires minimum liability limits of 25/50/15 but you should consider buying higher limits.
Collision - This will pay to fix damage to your Cayman resulting from colliding with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.
Collision coverage pays for things such as colliding with another moving vehicle, rolling your car, hitting a mailbox, sustaining damage from a pot hole and scraping a guard rail. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. You can also choose a higher deductible on your Cayman to bring the cost down.
Comprehensive (Other than Collision) - This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage protects against things such as damage from flooding, hitting a deer, fire damage, theft and hail damage. The maximum payout you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much it's not worth carrying full coverage.
Protection from uninsured/underinsured drivers - Your UM/UIM coverage gives you protection when other motorists are uninsured or don't have enough coverage. Covered losses include medical payments for you and your occupants as well as damage to your Porsche Cayman.
Due to the fact that many Tennessee drivers only carry the minimum required liability limits (25/50/15 in Tennessee), it only takes a small accident to exceed their coverage. That's why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.
Medical expense insurance - Medical payments and Personal Injury Protection insurance provide coverage for immediate expenses like X-ray expenses, doctor visits, hospital visits and dental work. The coverages can be used in conjunction with a health insurance program or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state and may carry a deductible
Smart consumers save more
We just covered a lot of techniques to find lower-cost Porsche Cayman insurance in Memphis. It's most important to understand that the more times you quote, the better your chances of lowering your auto insurance rates. You may even find the lowest priced car insurance comes from a small mutual company. Regional companies can often provide lower auto insurance rates in certain areas compared to the large companies like Allstate, GEICO and Progressive.
When shopping online for car insurance, never sacrifice coverage to reduce premiums. There have been many cases where an insured dropped collision coverage to discover at claim time that the few dollars in savings costed them thousands. Your goal is to purchase a proper amount of coverage at an affordable rate but still have enough coverage for asset protection.
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
- Who Has the Cheapest Tennessee Car Insurance for Inexperienced Drivers? (FAQ)
- Older Driver Statistics (Insurance Information Institute)
- Senior Drivers (Insurance Information Institute)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)