Has it been over a year since you last compared quotes for lower-priced Porsche Panamera insurance in Las Vegas? Shopping for the cheapest Porsche Panamera insurance in Las Vegas is challenging if you're new to online quotes. But don't be dismayed because comparing rates is actually very simple.
Amazingly, a recent NerdWallet.com study showed that most drivers in Nevada kept their coverage with the same insurance company for more than four years, and 38% of drivers have never compared rates with other companies. Consumers in the United States could save an average of almost $850 each year just by getting comparison quotes, but they just don't understand how much money they would save if they bought a different policy.
Buying affordable auto insurance in Las Vegas is easy if you know what you're doing. If you have auto insurance now, you will be able to buy cheaper auto insurance using these techniques. Nevertheless, Nevada consumers need to learn how companies market on the web and use it to your advantage.
How to get the cheapest Porsche Panamera insurance in Las Vegas, Nevada
When comparing auto insurance rates, know that comparing all the rates in your area helps locate more affordable rates. Not every company provides online price quotes, so it's important to also get prices from them as well.
The following companies offer comparison quotes in Nevada. If multiple companies are listed, we suggest you visit two to three different companies in order to find the lowest rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Panamera S 4-Dr Hatchback||$344||$612||$308||$18||$92||$1,374||$115|
|Panamera 4S AWD 4-Dr Hatchback||$380||$824||$416||$24||$124||$1,768||$147|
|Panamera Turbo AWD 4-Dr Hatchback||$474||$1120||$372||$22||$112||$2,100||$175|
|Get Your Own Custom Quote Go|
Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Nevada minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Estimates do not factor in Las Vegas location which can revise premiums considerably.
Comparison of auto insurance rates by gender and age
The illustration below shows the difference between Porsche Panamera insurance costs for male and female drivers. The prices are based on no claims, a clean driving record, comprehensive and collision coverage, $100 deductibles, drivers are not married, and no discounts are factored in.
Cost comparison with and without full coverage
The diagram below visualizes the comparison of Porsche Panamera insurance costs with and without physical damage coverage. The premiums are based on a clean driving record, no claims, $500 deductibles, married female driver, and no other discounts are factored in.
When to stop buying full coverage
There is no definitive guideline to stop buying full coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.
For example, let's assume your Porsche Panamera claim settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $8,000 after the deductible is paid. If you are currently paying more than $800 a year for your policy with full coverage, then it may be the right time to buy liability only.
There are some scenarios where dropping full coverage is not a good idea. If you haven't satisfied your loan, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not buy liability only.
Rate comparison for different deductibles
The information below demonstrates how deductibles and can affect Porsche Panamera insurance costs for each age group. The information is based on a married female driver, full coverage, and no additional discounts are factored in.
These discounts can reduce Porsche Panamera insurance rates
Car insurance companies don't always advertise their entire list of discounts in an easy-to-find place, so below is a list both well-publicized and the harder-to-find credits that may apply to you.
- Safety Course Discount - Completing a course teaching safe driver skills could possibly earn you a 5% discount depending on where you live.
- Sign Early and Save - Select insurance companies give a discount for switching to them prior to the expiration date on your current Panamera insurance policy. The savings is around 10%.
- Organization Discounts - Being a member of a civic or occupational organization in Las Vegas can get you a small discount on your policy.
- Multi-Vehicle Discounts - Insuring primary and secondary vehicles with the same company may reduce the rate for each vehicle.
- Discount for Passive Restraints - Vehicles with factory air bags may earn rate discounts up to 30%.
- Las Vegas Homeowners Discount - Simply owning a home can earn you a little savings since home ownership means you have a higher level of financial diligence.
- No Charge for an Accident - Not necessarily a discount, but some companies like Liberty Mutual, Allstate and State Farm may permit one accident before they charge you more for coverage if you are claim-free for a certain period of time.
- Drive Safe and Save - Insureds who avoid accidents can pay as much as 50% less than drivers with accidents.
- College Student - Any of your kids living away from Las Vegas attending college and don't have a car may be insured at a cheaper rate.
One thing to note about discounts is that most credits do not apply to the entire policy premium. Some only reduce the price of certain insurance coverages like comprehensive or collision. So when the math indicates all the discounts add up to a free policy, that's just not realistic.
Popular insurance companies and some of their more popular discounts are outlined below.
- State Farm offers discounts including anti-theft, Steer Clear safe driver discount, defensive driving training, accident-free, good student, and multiple policy.
- GEICO may have discounts that include five-year accident-free, federal employee, military active duty, good student, multi-policy, and membership and employees.
- Allstate discounts include good student, utility vehicle, good payer, anti-lock brakes, eSmart discount, and new car.
- SAFECO offers premium reductions for safe driver, homeowner, anti-theft, teen safe driver, teen safety rewards, and bundle discounts.
- Farm Bureau policyholders can earn discounts including good student, youthful driver, multi-vehicle, driver training, safe driver, 55 and retired, and renewal discount.
- Progressive offers discounts for online signing, online quote discount, homeowner, good student, multi-policy, and multi-vehicle.
- AAA may offer discounts for multi-car, AAA membership discount, good student, education and occupation, and anti-theft.
It's a good idea to ask every company how you can save money. All car insurance discounts might not be offered in every state. For a list of companies that offer multiple discounts in Las Vegas, click this link.
Get rate quotes but still have a local Las Vegas insurance agent
Certain consumers would prefer to go talk to an agent and that can be a smart move A nice benefit of comparing rate quotes online is the fact that drivers can get the best rates but also keep your business local.
After completing this simple form, the coverage information is sent to local insurance agents in Las Vegas who will return price quotes to get your business. It simplifies rate comparisons since you won't have to search for an agent since rate quotes are delivered to your email. You'll get the best rates and an insurance agent to talk to. If for some reason you want to get a rate quote from a particular provider, don't hesitate to find their quoting web page and give them your coverage information.
Choosing the best insurance company requires you to look at more than just a cheap price. The answers to these questions are important, too.
- Do they make recommendations based only on price?
- Does the agent have a valid license to sell insurance in Nevada?
- How will an accident affect your rates?
- Do you work with a CSR or direct with the agent?
- How is replacement cost determined on your vehicle?
- Do they have a Better Business Bureau rating in Las Vegas?
When researching a local agent, you need to know there are two types of insurance agents and how they work. Insurance agencies in Las Vegas can either be exclusive or independent agents depending on their company appointments.
Exclusive Auto Insurance Agencies
Exclusive agents can only provide pricing for a single company and some examples include Farmers Insurance, American Family, State Farm and Allstate. Exclusive agents cannot compare other company's rates so you might not find the best rates. They are very knowledgeable on sales techniques which helps offset the inability to provide other markets. Consumers frequently use the same exclusive agent primarily because of the brand name and strong financial ratings.
Below is a short list of exclusive agencies in Las Vegas who may provide you with price quote information.
- Juan Diaz - State Farm Insurance Agent
1718 S Eastern Ave - Las Vegas, NV 89104 - (702) 489-4242 - View Map
- Allstate Insurance: Sergio A Chavez
4676 W Charleston Blvd - Las Vegas, NV 89102 - (702) 462-9100 - View Map
- Gary Gibson - State Farm Insurance Agent
Ste B3, 3220 S Durango Dr - Las Vegas, NV 89117 - (702) 901-8787 - View Map
These type of agents are not restricted to one company and that allows them to write policies with lots of companies and find you the best rates. If they find a cheaper price, your agent can just switch to a different company and the insured can keep the same agent.
If you are trying to find cheaper rates, you will definitely want to include at least one independent agent to have the best price comparison. Many can place coverage with smaller companies which can save you money.
Below is a list of independent insurance agencies in Las Vegas that are able to give price quote information.
- Safeguard Insurance LLC
5225 S Durango Dr - Las Vegas, NV 89113 - (702) 638-0022 - View Map
- Estrella Auto Insurance
2349 E Bonanza Rd - Las Vegas, NV 89101 - (702) 671-4081 - View Map
- Superior Insurance
2511 Stewart Ave - Las Vegas, NV 89101 - (702) 721-7575 - View Map
How You Can Control Porsche Panamera Insurance Prices
Many factors are considered when quoting car insurance. Most are fairly basic such as your driving record, but some are less obvious such as your credit history or how financially stable you are. It's important that you understand some of the elements that help calculate your auto insurance rates. When you know what positively or negatively determines base rates, this empowers consumers to make smart changes that will entitle you to lower rates.
- Better auto insurance rates for uninterrupted coverage - Having an insurance coverage lapse is a quick way to bump up your auto insurance costs. Not only will rates go up, not being able to provide proof of insurance may result in a fine, jail time, or a revoked license.
- High comp and collision deductibles lower premiums - Coverage for physical damage, aka comp and collision, protects your Porsche from damage. Some examples of covered claims could be a windshield shattered by a rock, vandalism, and damage caused by flying debris. Comprehensive and collision coverage deductibles define the amount you are required to pay before your auto insurance pays a claim. The more money you are required to pay out-of-pocket, the less money you will pay for auto insurance.
- Do you know you're credit rating? - A driver's credit score can be an important factor in determining what you pay for auto insurance. Drivers who have excellent credit tend to file fewer claims and have better driving records than drivers who have lower credit ratings. So if your credit leaves room for improvement, you could be paying less to insure your Porsche Panamera if you improve your credit rating.
- GPS tracking and theft deterrents reduce auto insurance rates - Buying a car with a theft deterrent system can help bring down rates. Systems that thwart thieves like GM's OnStar, tamper alarm systems and vehicle immobilizers can thwart car theft and help bring rates down.
- Multiple policies with one company - Most auto insurance companies give lower prices to buyers that have more than one policy, otherwise known as a multi-policy discount. If you currently are using one company, it's always a smart idea to comparison shop to guarantee you are still saving the most.
- Your age impacts your costs - Drivers with little experience have a tendency to be careless and easily distracted when driving with friends so auto insurance rates are higher. Older people have been proven to be more responsible, tend to file fewer claims, and get fewer tickets.
- Loss statistics for a Porsche Panamera - Insurers factor in historical loss data to help calculate premium rates. Vehicles that have increased losses will have higher rates for specific coverages.
The next table shows the actual insurance loss data for Porsche Panamera vehicles. For each insurance policy coverage type, the loss probability for all vehicles, regardless of make, model or trim level, equals 100. Numbers that are below 100 indicate a favorable loss history, while percentages above 100 point to more losses or an increased chance of larger losses than average.
Porsche Panamera Insurance Claim Statistics
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Porsche Panamera 4dr 236 94 265 57 Porsche Panamera GTS 4dr 4WD 246 48 467 Porsche Panamera Turbo 4dr 4WD 242
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Why you need insurance for your Panamera
Despite the fact that auto insurance is not cheap in Las Vegas, auto insurance is required in Nevada but also provides important benefits.
- The majority of states have mandatory liability insurance requirements which means the state requires a minimum amount of liability protection if you don't want to risk a ticket. In Nevada these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you bought your Porsche with a loan, it's most likely the lender will stipulate that you have full coverage to guarantee loan repayment. If you let the policy lapse, the lender may insure your Porsche for a much higher rate and require you to fork over for it.
- Auto insurance preserves both your car and your personal assets. Insurance will also pay for medical transport and hospital expenses for not only you but also any passengers injured in an accident. Liability insurance also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If you have damage to your Porsche as the result of the weather or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage.
The benefits of having insurance more than cancel out the cost, particularly if you ever have a claim. Despite what companies tell you, the average driver is overpaying more than $850 per year so it's important to compare rates at every renewal to ensure rates are inline.
Cheap insurance rates are possible
Insureds who switch companies do it for many reasons like not issuing a premium refund, being labeled a high risk driver, high prices or policy cancellation. It doesn't matter why you want to switch finding a great new company can be easy and end up saving you some money.
As you prepare to switch companies, you should never skimp on coverage in order to save money. In many instances, someone dropped liability coverage limits and learned later they didn't purchase enough coverage. Your aim should be to buy the best coverage you can find at the best cost but still have enough coverage for asset protection.
Throughout this article, we presented many ways to get a better price on Porsche Panamera insurance in Las Vegas. It's most important to understand that the more quotes you get, the higher your chance of finding affordable Porsche Panamera insurance quotes. You may even find the lowest rates are with a company that doesn't do a lot of advertising.
More tips and info about insurance is located at these sites:
- Safe Vehicles for Teens (iihs.org)
- Who Has Affordable Auto Insurance for High School Students in Nevada? (FAQ)
- Who Has Cheap Auto Insurance in Nevada? (FAQ)
- What Auto Insurance is Cheapest for a Nissan Rogue in Nevada? (FAQ)
- Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- What to do at the Scene of an Accident (Insurance Information Institute)