Shockingly, most auto insurance customers have remained with the same auto insurance company for well over three years, and just under half have never even compared quotes to find lower-cost rates. Drivers in Florida can cut their rates by about $1,126 a year, but they underestimate the benefits if they switched to a cheaper policy.
Really, the only way to find affordable quotes for car insurance rates in Tampa is to compare prices regularly from insurers in Florida. Rate comparisons can be done by following these guidelines.
- Spend a few minutes and learn about how insurance companies determine prices and the modifications you can make to prevent rate increases. Many rating factors that result in higher prices like speeding and an unacceptable credit history can be amended by being financially responsible and driving safely.
- Request rate estimates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from a single company like Progressive or State Farm, while independent agencies can provide price quotes from multiple insurance companies.
- Compare the new rates to your existing policy to see if cheaper Boxster coverage is available in Tampa. If you find better rates and decide to switch, ensure coverage does not lapse between policies.
- Provide adequate notice to your current company of your intention to cancel your current coverage. Submit any necessary down payment along with the completed application to the new company. Once received, put the certificate verifying coverage with your registration paperwork.
The key thing to know about shopping around is to make sure you’re comparing the same physical damage deductibles and liability limits on each quote request and and to get rates from as many carriers as you can. This helps ensure an accurate price comparison and the most accurate and complete price analysis.
Locating the most cost-effective car insurance policy in Tampa can be much easier if you know how to start. If you have a current car insurance policy or just want a better rate, use these cost-cutting techniques to save money and still get good coverage. Drivers just have to understand the proper way to shop for car insurance online.
Finding Porsche Boxster insurance in Tampa, FL
Cutting your insurance rates is a fairly straight forward process. Just invest a little time to compare rate quotes online with multiple companies.
Comparison shopping price quotes online is easy and it makes it obsolete to make phone calls or go to each insurance agency near you. Buying insurance online can eliminate the need for a local agent unless your situation requires the personal advice that can only be provided by a licensed insurance agent. Some companies do allow you to obtain prices from the web and still use a local agent.
The following companies are our best choices to provide comparison quotes in Florida. To locate the best cheap auto insurance in Tampa, we suggest you click on several of them to get a more complete price comparison.
Rates and detailed analysis
The rate information displayed next showcases a range of insurance policy prices for Porsche Boxster models. Understanding more about how auto insurance premiums are calculated can help guide drivers when making decisions on the best policy to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Boxster 2-Dr Convertible | $312 | $612 | $334 | $20 | $100 | $1,378 | $115 |
| Boxster S 2-Dr Convertible | $344 | $692 | $334 | $20 | $100 | $1,490 | $124 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Premium amounts do not factor in specific garaging location which can change prices significantly.
The example below illustrates how your deductible choice and can impact Porsche Boxster insurance rates for different age groups. The rates are based on a single female driver, comp and collision included, and no policy discounts are applied.
Rate comparison of full coverage and liability-only
The illustration below compares Porsche Boxster insurance costs with full physical damage coverage compared to only buying liability only. The premium estimates are based on no driving violations, no at-fault accidents, $500 deductibles, single marital status, and no discounts are factored in.
Should you be buying full coverage?
There is no written rule to stop buying comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of coverage is about 10% or more of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.
For example, let’s assume your Porsche Boxster claim settlement value is $8,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $7,000 after the deductible is paid. If you are paying in excess of $700 a year for comprehensive and collision coverage, then you might want to consider buying only liability coverage.
There are some situations where buying only liability insurance is not recommended. If you haven’t satisfied your loan, you have to maintain full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage on your policy.
Why car insurance is not optional
Despite the potentially high cost of Porsche Boxster insurance, paying for car insurance may be required for several reasons.
- Almost all states have compulsory liability insurance requirements which means the state requires a minimum amount of liability coverage in order to be legal. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your vehicle has a loan, most banks will make it mandatory that you have insurance to guarantee their interest in the vehicle. If coverage lapses or is canceled, the lender will be forced to insure your Porsche at an extremely high rate and force you to pay for it.
- Car insurance protects both your vehicle and your assets. It will also pay for medical expenses that are the result of an accident. Liability coverage, the one required by state law, also pays expenses related to your legal defense if you cause an accident and are sued. If mother nature or an accident damages your car, comprehensive (other-than-collision) and collision coverage will cover the repair costs.
The benefits of carrying adequate insurance more than offset the price you pay, especially if you ever need it. Despite what companies tell you, the average driver is currently overpaying as much as $750 every year so compare rates at every renewal to make sure the price is not too high.
Insurance is unique, just like you
Keep in mind that when it comes to choosing adequate coverage for your personal vehicles, there isn’t really a cookie cutter policy. Coverage needs to be tailored to your specific needs.
For instance, these questions can aid in determining whether your personal situation will benefit from professional help.
- Can good grades get a discount?
- Is my vehicle covered by my employer’s policy when using it for work?
- Do I have coverage if my license is suspended?
- Should I get collision insurance on every vehicle?
- What is motorclub and do I need it?
- Are all vehicle passengers covered by medical payments coverage?
- Can my teen driver be rated on a liability-only vehicle?
- Do I have coverage when making deliveries for my home business?
If you’re not sure about those questions but you know they apply to you, you might consider talking to an insurance agent. To find lower rates from a local agent, take a second and complete this form. It only takes a few minutes and can help protect your family.
Car insurance coverage basics
Learning about specific coverages of your policy can help you determine the best coverages at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording.
Med pay and Personal Injury Protection (PIP)
Coverage for medical payments and/or PIP pay for short-term medical expenses like nursing services, surgery, hospital visits, doctor visits and prosthetic devices. They are used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. They cover both the driver and occupants and will also cover if you are hit as a while walking down the street. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage
Collision insurance
This pays for damage to your Boxster resulting from colliding with an object or car. A deductible applies then your collision coverage will kick in.
Collision insurance covers things like sideswiping another vehicle, crashing into a ditch and hitting a mailbox. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also increase the deductible on your Boxster to save money on collision insurance.
Uninsured/Underinsured Motorist (UM/UIM)
Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your Porsche Boxster.
Since a lot of drivers only carry the minimum required liability limits (Florida limits are 10/20/10), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea.
Liability insurance
Liability insurance can cover damage or injury you incur to people or other property by causing an accident. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 10/20/10 which stand for $10,000 in coverage for each person’s injuries, $20,000 for the entire accident, and a total limit of $10,000 for damage to vehicles and property.
Liability coverage protects against things such as bail bonds, medical expenses, structural damage and repair costs for stationary objects. How much coverage you buy is a personal decision, but buy as much as you can afford. Florida state minimum liability requirements are 10/20/10 but you should consider buying more coverage.
The chart below demonstrates why minimum state limits may not be adequate.
Comprehensive insurance
This coverage pays to fix your vehicle from damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive can pay for things such as hitting a bird, hitting a deer, a tree branch falling on your vehicle, falling objects and vandalism. The maximum payout your car insurance company will pay is the ACV or actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.
Compare. Compare. Compare.
Drivers who switch companies do it for many reasons like an unsatisfactory settlement offer, lack of trust in their agent, poor customer service or even extreme rates for teen drivers. No matter why you want to switch, finding the right insurance provider is actually quite simple.
While you’re price shopping online, it’s very important that you do not skimp on critical coverages to save a buck or two. There have been many situations where someone dropped physical damage coverage and learned later that saving that couple of dollars actually costed them tens of thousands. Your goal should be to buy the best coverage you can find at the lowest possible cost while still protecting your assets.
Throughout this article, we presented a lot of ways to get a better price on Porsche Boxster insurance in Tampa. The most important thing to understand is the more you quote Tampa car insurance, the better your chances of lowering your premium rates. You may even discover the most savings is with the smaller companies.
More tips and info about insurance can be found in the articles below:
- Choosing an Insurance Company (Insurance Information Institute)
- What Car Insurance is Cheapest for Drivers with Accidents in Tampa? (FAQ)
- What Insurance is Cheapest for a Honda Accord in Tampa? (FAQ)
- What Car Insurance is Cheapest for a Ford Explorer in Tampa? (FAQ)
- How Much are Car Insurance Rates for Drivers with a DUI in Tampa? (FAQ)
- Who Has Affordable Auto Insurance for Unemployed Drivers in Tampa? (FAQ)
- What Auto Insurance is Cheapest for Handicapped Drivers in Tampa? (FAQ)
- Who Has the Cheapest Car Insurance for Active Military in Tampa? (FAQ)
- How Much is Auto Insurance for a Honda Civic in Tampa? (FAQ)
- Auto Insurance 101 (About.com)
- Keeping Children Safe in Crashes Video (iihs.org)
- Credit Impacts Car Insurance Rates (State Farm)