Auto Insurance Rates for a Porsche 911 in Anchorage

How long have you put off shopping around for cheaper Porsche 911 insurance in Anchorage? Are you burned out from scraping nickels together to keep your car insured? You are no different than many other Alaska consumers.

It’s an obvious conclusion that insurance companies don’t want you to compare rates. People who shop around for cheaper rates are likely to switch car insurance companies because they stand a good chance of finding a policy with more affordable rates. A recent survey found that people who made a habit of comparing rates saved $850 each year compared to drivers who didn’t regularly shop around.

If finding low prices for insurance is your ultimate goal, knowing how to get price quotes and compare insurance premiums can make it easier to shop your coverage around.

How to save on Porsche 911 insurance in Anchorage

The best way we recommend to find cheaper quotes for Porsche 911 insurance is to annually compare prices from providers that sell auto insurance in Anchorage. Price quotes can be compared by following these guidelines.

• Step 1: Get a basic knowledge of what coverages are included in your policy and the modifications you can make to prevent expensive coverage. Many factors that cause high rates such as traffic citations and a not-so-good credit rating can be rectified by making lifestyle changes or driving safer.
• Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give prices from a single company like Progressive or State Farm, while independent agents can quote prices for a wide range of insurance providers.
• Step 3: Compare the price quotes to your existing policy and see if there is a cheaper rate. If you find a lower rate quote, make sure there is no lapse in coverage.
• Step 4: Tell your current agent or company of your decision to cancel your current coverage. Submit the signed application along with the required initial payment to your new carrier. As soon as you can, place your new certificate of insurance in a readily accessible location in your vehicle.

One thing to remember is to try to use similar coverage information on each price quote and and to analyze as many carriers as you can. This guarantees a level playing field and a complete price analysis.

Numerous insurers battle for your business, and because of this it can be hard to compare insurers and get the definite lowest rate on Porsche 911 insurance in Anchorage.

It’s smart to do price comparisons on a regular basis because rates change quite often. Just because you had the lowest rate on Porsche 911 insurance in Anchorage on your last policy there is a good chance you can find better prices now. Block out anything you think you know about car insurance because you’re going to get a crash course in how to use the internet to lower your annual insurance bill.

The companies in the list below are our best choices to provide comparison quotes in Alaska. If you want cheap car insurance in Anchorage, AK, we recommend you visit several of them to get a more complete price comparison.

Three reasons to not skimp on auto insurance

Despite the high insurance cost for a Porsche 911 in Anchorage, maintaining insurance is required in Alaska but it also protects you in many ways.

• Most states have mandatory liability insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability protection if you drive a vehicle. In Alaska these limits are 50/100/25 which means you must have $50,000 of bodily injury coverage per person, $100,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
• If you have a loan on your 911, it’s guaranteed your bank will make it a condition of the loan that you buy insurance to ensure the loan is repaid in case of a total loss. If you do not keep the policy in force, the bank or lender will purchase a policy for your Porsche at a more expensive rate and force you to reimburse them much more than you were paying before.
• Auto insurance preserves not only your vehicle but also your financial assets. It will also reimburse you for hospital and medical expenses that are the result of an accident. Liability insurance, one of your policy coverages, also covers legal expenses if you are sued as the result of an accident. If mother nature or an accident damages your car, collision and comprehensive coverages will pay all costs to repair after the deductible has been paid.

The benefits of insuring your car more than offset the price you pay, especially if you ever need it. Unknowingly, the average driver is wasting up to $800 each year so smart consumers compare quotes every year to be sure current rates are still competitive.

Car insurance data for a Porsche 911

The coverage information below showcases estimates of prices for Porsche 911 models. Knowing how premiums are calculated is important to be able to make smart choices when comparing insurance quotes.

Data variables include single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Rate quotes do not factor in specific location which can affect auto insurance rates significantly.

Can higher deductibles save money?

The hardest decision when buying coverage is the level to set your comp and collision deductibles. The figures shown below can help illustrate the rate difference between high and low physical damage deductibles. The first set of prices uses a $250 deductible for comprehensive and collision coverage and the second set of prices uses a $1,000 deductible.

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Alaska minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Information does not factor in specific location information which can lower or raise coverage rates noticeably.

We can derive from the above data that using a $250 deductible costs roughly $37 more each month or $444 a year averaged for all 911 models than requesting the higher $1,000 deductible. Since you would pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you tend to go more than 20 months between claim filings, you would come out ahead if you choose a higher deductible.

Car insurance premiums by gender

The illustration below illustrates the comparison of Porsche 911 insurance prices for male and female drivers. The premium estimates are based on no claims or driving violations, full physical damage coverage, $1,000 deductibles, drivers are single, and no additional discounts are factored in.

Should you buy full coverage?

The example below illustrates the difference between Porsche 911 annual premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The data assumes no violations or accidents, $100 deductibles, marital status is single, and no additional discounts are factored in.

When to switch to liability coverage only

There is no set rule of when to phase out physical damage coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.

For example, let’s assume your Porsche 911 settlement value is $8,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would get paid by your company is $7,000 after paying your deductible. If premium cost is more than $700 annually for comprehensive and collision coverage, then it’s probably a good time to buy liability coverage only.

There are some conditions where buying only liability insurance is not advised. If you haven’t satisfied your loan, you are required to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should keep full coverage.

Auto insurance discounts are available to cut your rates

Auto insurance is not cheap nor is it fun to buy but you might be missing out on some discounts that you may not even be aware of. Some discounts apply automatically at quote time, but some need to be asked about prior to getting the savings.

• Air Bags and Passive Restraints – Options like air bags or motorized seat belts may earn rate discounts of up to 25% or more.
• Save with a New Car – Adding a new car to your policy is cheaper because newer vehicles keep occupants safer.
• Pay Early and Save – If you pay your entire premium ahead of time instead of paying each month you can actually save on your bill.
• Drive Safe and Save – Accident-free drivers can save up to 40% or more on their Anchorage auto insurance quote than less cautious drivers.
• Telematics Data Discounts – Insureds that choose to allow driving data submission to study when and where they use their vehicle by using a telematics device like Allstate’s Drivewise could see a rate decrease as long as the data is positive.
• Good Students Pay Less – Performing well in school could provide a savings of up to 20% or more. This discount can apply up until you turn 25.
• Paper-free Discount – Many insurance companies will give a small break just for signing your application on your computer.

One thing to note about discounts is that most discount credits are not given to the overall cost of the policy. Most cut the cost of specific coverages such as liability, collision or medical payments. Even though the math looks like adding up those discounts means a free policy, it doesn’t quite work that way.

The illustration below shows the difference between Porsche 911 car insurance costs with and without discounts applied to the policy premium. The prices are based on a male driver, no tickets, no at-fault accidents, Alaska state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, multi-policy, safe-driver, multi-car, and claim-free discounts applied.

Car insurance companies who might offer these money-saving discounts include:

• Progressive
• GEICO
• State Farm
• Esurance
• The Hartford

If you want cheaper Anchorage auto insurance quotes, ask each insurance company which discounts you may be entitled to. All car insurance discounts may not apply to policyholders in your state.

Auto insurance is unique, just like you

When quoting and choosing the best auto insurance coverage, there really is no one size fits all plan. Your financial needs are unique and your policy should reflect that.
These are some specific questions might point out whether your personal situation may require specific advice.

• What is high-risk coverage and where do I buy it?
• What if I total my Porsche 911 and owe more than it’s worth?
• Is my state a no-fault state?
• Am I covered when driving someone else’s vehicle?
• Can I drive in Mexico and have coverage?
• Can I rate high risk drivers on liability-only vehicles?

If you don’t know the answers to these questions then you might want to talk to an agent. To find lower rates from a local agent, complete this form or click here for a list of auto insurance companies in your area. It is quick, free and can provide invaluable advice.

Alaska car insurance companies

Insuring your vehicle with the best insurer can be a challenge considering how many companies sell insurance in Alaska. The company rank data in the next section may help you select which companies you want to consider purchasing a policy from.

Top 10 Anchorage Car Insurance Companies Ranked by Customer Service

1. State Farm
2. GEICO
3. The Hartford
4. Progressive
5. The General
6. Allstate
7. American Family
8. AAA Insurance
9. Liberty Mutual
10. Farmers Insurance

Top 10 Anchorage Car Insurance Companies Ranked by Claims Service

1. State Farm
2. Esurance
3. AAA Insurance
4. Progressive
5. GEICO
6. Liberty Mutual
7. Allstate
8. The Hartford
9. The General
10. Farmers Insurance