Has it been over a year since you last compared quotes for low-cost Porsche 911 insurance in Chicago? There isn’t a single person who likes paying for auto insurance, especially knowing it costs too dang much.
Inconceivable but true, the vast majority of auto insurance customers have remained with the same auto insurance company for well over three years, and roughly 40% of drivers have never taken the time to shop around. Many consumers in Chicago could pocket as much as 40% a year by just shopping around, but they don’t understand how simple it is to find cheaper rates by getting comparison quotes.
Many insurance companies vie for your hard-earned dollar, so it can be very hard to choose a provider to get the best rates possible on Porsche 911 insurance in Chicago.
Consumers need to compare premium rates before your policy renews because rates fluctuate regularly. If you had the lowest rate on Porsche 911 insurance in Chicago a few years ago you will most likely find a better price today. Forget anything you know (or think you know) about auto insurance because we’re going to show you one of the quickest ways to remove unneeded coverages and save money.
If you currently have a car insurance policy, you will definitely be able to buy cheaper insurance using the techniques presented in this article. Locating the most cost-effective insurance policy in Chicago is quite easy. Nevertheless, Illinois drivers must comprehend the methods companies use to market on the web because rates fluctuate considerably.
Buy Porsche 911 Insurance Cheaper
Consumers need to have an understanding of the factors that help calculate your policy premiums. When you know what positively or negatively determines base rates, this allows you to make educated decisions that may result in lower premium levels. Lots of things are used in the calculation when you quote your car insurance policy. Most are fairly basic like your driving record, but some are less obvious like your continuous coverage or your financial responsibility.
The list below includes just a few of the factors used by insurance companies to determine rates.
- Higher premiums for stressful employers – Did you know your auto insurance rates can be affected by your occupation? Occupations such as real estate brokers, social workers and miners generally have the highest rates due to intense work requirements and lots of time spent away from family. On the other hand, jobs like actors, historians and retirees have lower than average premiums.
- Eliminate incidental coverages – There are quite a few additional extra coverages that you can buy on your auto insurance policy. Insurance for things like replacement cost coverage, better glass coverage, and extra life insurance coverage are some examples. They may sound like good ideas at first, but if you’ve never needed them in the past think about removing them and cutting costs.
- Multi-policy discounts can save money – Lots of companies give discounts to clients who have multiple policies with them, otherwise known as a multi-policy discount. This can amount to 10 percent or more. Even though this discount sounds good, consumers should still compare other company rates to help ensure you have the lowest rates. Consumers may find better rates even if you insure with multiple companies
- Traffic violations can increase premiums – How you drive has a big impact on rates. Just one speeding ticket may increase your cost by twenty percent. Good drivers pay less for auto insurance as compared to careless drivers. Drivers who have severe tickets like hit and run, DWI or reckless driving convictions might be required by their state to submit a SR-22 form with their state’s department of motor vehicles in order to continue driving.
- Porsche 911 insurance loss data – Auto insurance companies analyze the history of losses when determining insurance costs. Models that the statistics show to have higher loss trends will have higher rates.
The data below shows the historical loss data for Porsche 911 vehicles. For each type of coverage, the claim amount for all vehicles, regardless of make, model or trim level, is considered to be 100. Values under 100 represent a good loss history, while values that are above 100 indicate more frequent losses or an increased chance of larger losses than average.
Insurance Loss Ratings for Porsche 911 Vehicles
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Porsche 911 Carrera 2dr 191 47 173 24 Porsche 911 Carrera Convertible 197 51 224 36 Porsche 911 Turbo 2dr 4WD 349 367
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
When quoting car insurance, remember that making a lot of price comparisons helps improve the odds of finding lower pricing. Some smaller insurers do not give online price quotes, so it’s important to compare price estimates from them as well.
The companies in the list below are our best choices to provide quotes in Illinois. If more than one company is shown, we recommend you visit two to three different companies to get the lowest price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|911 Carrera 2 2-Dr Coupe||$216||$404||$342||$20||$102||$1,084||$90|
|911 Carrera 4 2-Dr Coupe||$370||$768||$262||$16||$78||$1,494||$125|
|911 Carrera 2 Cabriolet 2-Dr Convertible||$286||$662||$250||$14||$76||$1,288||$107|
|911 Carrera 2 S 2-Dr Coupe||$256||$534||$246||$14||$74||$1,124||$94|
|911 Carrera 4 Cabriolet 2-Dr Convertible||$370||$768||$222||$14||$66||$1,440||$120|
|911 Carrera 4S 2-Dr Coupe||$186||$408||$268||$16||$80||$958||$80|
|911 Carrera Targa 2-Dr Coupe||$284||$696||$246||$14||$74||$1,314||$110|
|911 Carrera 2 S 2-Dr Convertible||$336||$772||$228||$14||$68||$1,418||$118|
|911 Carrera 4S Cabriolet 2-Dr Convertible||$398||$768||$222||$14||$66||$1,468||$122|
|911 Carrera Targa S 2-Dr Coupe||$342||$864||$294||$18||$88||$1,606||$134|
|911 GT3 2-Dr Coupe||$246||$592||$352||$20||$106||$1,316||$110|
|911 GT3 RS 2-Dr Coupe||$370||$818||$352||$20||$106||$1,666||$139|
|911 Turbo 2-Dr Coupe||$352||$850||$294||$18||$88||$1,602||$134|
|911 Turbo 2-Dr Convertible||$456||$1056||$222||$14||$66||$1,814||$151|
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Illinois minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Price estimates do not factor in zip code location which can change premiums considerably.
Gender-based auto insurance premiums
The chart below illustrates the comparison of Porsche 911 insurance prices for male and female drivers. Data assumes no claims or driving citations, comprehensive and collision coverage, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.
Tickets and at-fault accidents raise rates
The illustration below illustrates how speeding tickets and fender-benders can drive up Porsche 911 auto insurance costs for different ages of insureds. The premiums assume a single female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied.
Cost comparison with and without full coverage
The diagram below illustrates the difference between Porsche 911 insurance rates with full coverage and liability only. The data assumes no claims or driving violations, $250 deductibles, single male driver, and no policy discounts are applied.
When to buy liability coverage only
There is no definitive guideline to delete comp and collision coverage, but there is a general guideline. If the yearly cost of full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let’s assume your Porsche 911 settlement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company will settle for is $3,000 after paying your deductible. If it’s costing in excess of $300 annually for physical damage coverage, then it may be the right time to buy liability only.
There are some cases where removing full coverage is not a good plan. If you haven’t satisfied your loan, you have to carry full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should not drop full coverage.
Car insurance is not optional
Even though it’s not necessarily cheap to insure a Porsche in Chicago, car insurance may not be optional for several reasons.
- Most states have minimum mandated liability insurance limits which means state laws require specific limits of liability in order to drive the car legally. In Illinois these limits are 20/40/15 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you have a lien on your 911, more than likely the lender will stipulate that you buy full coverage to ensure loan repayment if the vehicle is totalled. If you default on your policy, the lender may have to buy a policy to insure your Porsche at a much higher rate and force you to pay for the much more expensive policy.
- Car insurance protects your Porsche 911 and your assets. It also can pay for many types of medical costs for not only you but also any passengers injured in an accident. As part of your policy, liability insurance will also pay for a defense attorney if you are sued as the result of an accident. If your car is damaged in a storm or accident, your policy will pay to restore your vehicle to like-new condition.
The benefits of having insurance outweigh the cost, especially with large liability claims. But the average American driver is overpaying over $820 a year so it’s recommended you shop around every year to help ensure money is not being wasted.
Take advantage of these premium slashing discounts
Some companies don’t always list their entire list of discounts in an easy-to-find place, so the below list has a few of the more common and the more hidden discounts that you can inquire about if you buy Chicago car insurance online.
- Federal Government Employee – Being employed by or retired from a federal job could provide a small rate reduction depending on your company.
- New Car Discount – Buying a new car instead of a used 911 can be considerably cheaper because newer models have to meet stringent safety requirements.
- Bundle and Save – If you combine your auto and homeowners policies with the same insurance company you could earn a discount of up to 20% off your total 911 insurance premium.
- Claim-Free Discount – Chicago drivers who stay claim-free pay much less as opposed to frequent claim filers.
- Home Ownership Discount – Owning a home in Chicago may trigger a policy discount on car insurance due to the fact that maintaining a home is proof of financial responsibility.
- Renewal Discounts – Some insurance companies give discounts for buying a new policy before your current expiration date. You may see this discount when you get Chicago car insurance quotes online.
- Fewer Miles Equal More Savings – Keeping the miles down on your Porsche may allow you to get lower prices on the low mileage vehicles.
- Theft Deterrent System – Cars with anti-theft systems have a lower chance of being stolen and will qualify for a discount on a Chicago car insurance quote.
- Telematics Data – Chicago drivers who agree to allow companies to track their driving habits by using a telematic data system such as In-Drive from State Farm or Allstate’s Drivewise system could possibly reduce rates if their driving habits are good.
- Military Deployment Discount – Having an actively deployed family member may qualify for rate reductions.
Please keep in mind that most credits do not apply to the overall cost of the policy. Most only cut specific coverage prices like collision or personal injury protection. So even though it sounds like all the discounts add up to a free policy, nobody gets a free ride.
Some of the insurance companies who might offer these discounts include:
Check with each company or agent to give you their best rates. All car insurance discounts might not be offered on policies in Chicago. If you would like to choose from a list of car insurance companies who offer car insurance discounts in Illinois, follow this link.
Local agents and car insurance
A small number of people would prefer to go talk to an agent and doing that can be a smart decision An additional benefit of getting free rate quotes online is the fact that you can find better rates and still choose a local agent.
By using this form (opens in new window), your coverage information is submitted to local insurance agents who will return price quotes for your car insurance coverage. You don’t have to contact any insurance agencies as quotes are delivered to your email. Get lower rates without the usual hassles of price shopping. If you wish to get a price quote from a specific company, feel free to find their quoting web page and submit a quote form there.
Choosing an insurer is decision based upon more than just the premium amount. Ask your prospective agent these questions:
- Does the company use OEM repair parts?
- Which members of your family are coverage by the policy?
- Are they in the agency full-time?
- Do the companies they represent have a solid financial rating?
- What insurance company do they write the most business with?
When finding a local insurance agency, it can be helpful to understand the types of agencies to choose from. Insurance agencies in Chicago may be either independent or exclusive depending on the company they work for.
Exclusive Car Insurance Agents
Exclusive agencies generally can only insure with one company and examples are AAA, Allstate, State Farm, or Farmers Insurance. Exclusive agencies are unable to provide other company’s prices so you need to shop around if the rates are high. They are very knowledgeable in insurance sales which helps offset the inability to provide other markets.
Listed below is a list of exclusive insurance agents in Chicago willing to provide rate quotes.
Independent Car Insurance Agencies
Agents that elect to be independent do not write with just one company and that allows them to write policies with lots of companies depending on which coverage is best. If they quote lower rates, the business is moved internally without you having to go to a different agency. When comparison shopping, you will definitely want to include price quotes from multiple independent agents so that you have a good selection of quotes to compare.
The following is a short list of independent agents in Chicago that are able to give comparison quotes.
Do I need special coverages?
When quoting and comparing your policy for your personal vehicles, there really isn’t a one-size-fits-all type of policy. Coverage needs to be tailored to your specific needs so your insurance needs to address that.
These are some specific questions may help you determine if you would benefit from professional advice.
- Are my company tools covered if they get stolen?
- What does UM/UIM cover?
- What can I do if my company denied a claim?
- How can I get my company to pay me more for my totalled car?
- If I drive on a suspended license am I covered?
- Am I covered when driving in Canada or Mexico?
One last thing about your coverage
We just showed you many ways to get a better price on Porsche 911 insurance in Chicago. The most important thing to understand is the more you quote Chicago car insurance, the better likelihood of getting affordable Chicago car insurance quotes. Consumers may even find the lowest prices are with an unexpected company. Some small companies may only write in your state and offer lower rates than the large multi-state companies such as State Farm and Allstate.
Discount Porsche 911 insurance in Chicago is definitely available online as well as from insurance agents, so you need to shop Chicago car insurance with both to get a complete price analysis. Some insurance companies do not offer online quoting and usually these smaller companies only sell through independent agents.
To read more, feel free to visit the following helpful articles:
- Booster Seat Ratings (iihs.org)
- Who Has Cheap Auto Insurance Rates for Veterans in Chicago? (FAQ)
- How Much are Car Insurance Quotes for 19 Year Olds in Chicago? (FAQ)
- Who Has Affordable Auto Insurance for High Mileage Drivers in Chicago? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Ride Shares in Chicago? (FAQ)
- How Much are Chicago Auto Insurance Quotes for Retired Military? (FAQ)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)
- Prepare your Teens for Safe Driving (InsureUonline.org)