Save on 2004 Porsche Carrera GT Insurance Rates

Are you a victim of an overpriced insurance policy? Believe me, you are not the only one feeling buyer’s remorse. With so many companies and agents to choose from, it is hard for the average consumer to find the lowest cost provider.

Elements that influence Porsche Carrera GT insurance rates

It’s important that you understand the factors that play a part in calculating your insurance coverage rates. Having a good understanding of what influences your rates empowers consumers to make smart changes that could result in better insurance coverage rates.

  • More than one policy can earn a discount – Many insurers will give a discount to customers who buy several policies from them. It’s known as a multi-policy discount. Discounts can be five, ten or even twenty percent. If you currently are using one company, it’s in your best interest to shop around to make sure you are getting the best deal.
  • The more you drive the more you pay – The more you drive every year the higher your rate. Most insurance companies rate vehicles based on how the vehicle is used. Cars left parked in the garage receive lower rates than those used for commuting. Make sure your insurance coverage policy is rated on the correct driver usage, because improper ratings can cost you money. If your policy improperly rates your Carrera GT can cost quite a bit.
  • Little extras can really add up – There are many extra bells and whistles that can waste your money when buying insurance coverage. Things like personal injury protection, accident forgiveness and additional equipment coverage may be wasting your money. These may sound like a good investment at first, but now you might not need them so remove them from your policy.
  • Optional equipment can affect rates – Driving a car with anti-theft technology or alarm system can help lower your rates. Theft prevention devices like GM’s OnStar, tamper alarm systems and vehicle immobilizers all hinder car theft.

Discounts are great for lower rates

The cost of insuring your cars can be expensive, but there are discounts available that you may not even be aware of. A few discounts will automatically apply when you complete an application, but lesser-known reductions have to be manually applied prior to receiving the credit. If you don’t get every credit available, you’re paying more than you need to.

  • Passive Restraint Discount – Vehicles with factory air bags or motorized seat belts can get savings up to 30%.
  • Government Employees – Active or retired federal employment can save as much as 8% for Carrera GT insurance with a few insurance companies.
  • Good Student – This discount can earn a discount of 20% or more. Earning this discount can benefit you until age 25.
  • Student in College – Children living away from home attending college without a vehicle on campus may qualify for this discount.
  • Auto/Home Discount – If you have multiple policies with one company you may earn up to 20% off your total premium.
  • Life Insurance – Some companies give lower rates if you buy auto and life insurance together.
  • One Accident Forgiven – Certain companies allow you one accident before raising your premiums if your claims history is clear for a certain period of time.
  • Paperwork-free – A few companies give back up to $50 simply for signing over the internet.
  • Seat Belts Save more than Lives – Drivers who require all occupants to use their safety belts can save 10% or more on the medical payments or PIP coverage costs.

A little note about advertised discounts, some credits don’t apply to all coverage premiums. Most only apply to the cost of specific coverages such as comprehensive or collision. Just because it seems like adding up those discounts means a free policy, companies wouldn’t make money that way. But any discount will reduce the amount you have to pay.

A partial list of companies that may have these discounts are:

It’s a good idea to ask all companies you are considering how you can save money. All car insurance discounts may not apply in your area.

You may need specialized coverage

When it comes to choosing adequate coverage, there really is not a single plan that fits everyone. Everyone’s needs are different and a cookie cutter policy won’t apply. Here are some questions about coverages that can help discover whether your personal situation might need professional guidance.

  • Will I be non-renewed for getting a DUI or other conviction?
  • I don’t drive much so do I pay less?
  • Do I need motorclub coverage?
  • At what point should I drop full coverage?
  • Does my policy cover me when driving someone else’s vehicle?
  • How much can I save by bundling my policies?
  • Where can I find DUI or SR-22 insurance?
  • Is pleasure use cheaper than using my 2004 Porsche Carrera GT to commute?
  • Do I need higher collision deductibles?
  • Why does it cost so much to insure a teen driver?

If you’re not sure about those questions but one or more may apply to you, you might consider talking to a licensed insurance agent. To find an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It’s fast, free and can help protect your family.

Car insurance coverages 101

Having a good grasp of your car insurance policy can be of help when determining appropriate coverage for your vehicles. The coverage terms in a policy can be confusing and reading a policy is terribly boring. Below you’ll find typical coverage types available from car insurance companies.

Comprehensive coverages – Comprehensive insurance will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims such as hitting a deer, vandalism and hitting a bird. The maximum payout a car insurance company will pay at claim time is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

Coverage for medical payments – Personal Injury Protection (PIP) and medical payments coverage pay for bills such as dental work, prosthetic devices and ambulance fees. The coverages can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. It covers all vehicle occupants in addition to being hit by a car walking across the street. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage

Auto liability insurance – Liability coverage protects you from damage or injury you incur to people or other property that is your fault. It protects you against other people’s claims. It does not cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 50/100/50 which stand for $50,000 bodily injury coverage, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Alternatively, you may have one limit called combined single limit (CSL) that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability coverage pays for claims like attorney fees, loss of income, funeral expenses and court costs. The amount of liability coverage you purchase is your choice, but buy as much as you can afford.

Uninsured and underinsured coverage – Uninsured or Underinsured Motorist coverage provides protection from other drivers when they either have no liability insurance or not enough. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your 2004 Porsche Carrera GT.

Since many drivers carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important. Usually these limits do not exceed the liability coverage limits.

Collision – This coverage covers damage to your Carrera GT caused by collision with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims like hitting a parking meter, backing into a parked car and colliding with another moving vehicle. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. Another option is to increase the deductible to save money on collision insurance.

Find Good Coverage for Less

We just showed you some good ideas how to compare 2004 Porsche Carrera GT insurance prices online. The key concept to understand is the more quotes you get, the better likelihood of reducing your rate. Drivers may discover the most savings is with a company that doesn’t do a lot of advertising. Smaller companies may have significantly lower rates on certain market segments than their larger competitors like Allstate, Geico and Progressive.

Cost effective insurance can be purchased both online and with local insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. Some insurance providers do not offer you the ability to get quotes online and usually these small, regional companies provide coverage only through local independent agents.

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