Online price comparisons for the cheapest Porsche Cayman insurance in Chicago can be difficult if you’ve never received online quotes. But don’t throw in the towel because finding more affordable rates for Porsche Cayman insurance in Chicago is actually fairly simple.
It’s hard to believe, but most car insurance customers have bought car insurance from the same company for four years or more, and approximately 40% of consumers have never compared car insurance rates at all. Many consumers in Illinois can save up to 40% each year, but most undervalue how much money they would save if they changed companies.
It’s important to compare rates as often as possible because car insurance prices are variable and change quite frequently. Despite the fact that you may have had the best deal on Porsche Cayman insurance in Chicago a year ago you will most likely find a better premium rate today. Forget all the misinformation about car insurance because we’re going to show you the tricks you need to know to find lower rates on car insurance.
To find cheap prices, there are a couple of ways of comparing rate quotes from different Chicago insurance companies. The best method to find the lowest Porsche Cayman rates involves getting comparison quotes online. When comparing car insurance rates, know that comparing a wide range of rates helps increase your odds of locating more affordable rates. Some insurance companies are not set up to provide online Chicago Cayman insurance quotes, so it’s important to also get rates from the smaller companies as well.
The companies in the list below provide price quotes in Illinois. If multiple providers are shown, we suggest you get prices from several of them in order to find the most affordable rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cayman 2-Dr Coupe | $260 | $420 | $342 | $20 | $102 | $1,144 | $95 |
| Cayman S 2-Dr Coupe | $310 | $716 | $352 | $20 | $106 | $1,504 | $125 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Illinois minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Rate information does not factor in vehicle location which can influence coverage rates greatly.
Porsche Cayman insurance costs by gender and age
The example below shows the comparison of Porsche Cayman insurance costs for male and female drivers. The rates are based on no claims or violations, full coverage, $1,000 deductibles, marital status is single, and no discounts are taken into consideration.
Responsible drivers pay cheaper auto insurance rates
The chart below shows how traffic citations and at-fault claims drive up Porsche Cayman annual premium costs for different categories of driver ages. The costs are based on a married female driver, comprehensive and collision coverage, $100 deductibles, and no discounts are taken into consideration.
Best reasons to buy auto insurance in Illinois
Despite the potentially high cost of Porsche Cayman insurance, paying for auto insurance serves an important purpose.
First, just about all states have minimum mandated liability insurance limits which means state laws require specific limits of liability in order to be legal. 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.
Second, if you have a lien on your Cayman, almost every bank will make it a condition of the loan that you buy insurance to ensure loan repayment if the vehicle is totalled. If the policy lapses, the lender will be forced to insure your Porsche at a much higher premium rate and force you to reimburse them for the much more expensive policy.
Third, auto insurance preserves your Porsche and your assets. It will also reimburse you for medical bills for not only you but also any passengers injured in an accident. One policy coverage, liability insurance, will also pay to defend you if anyone sues you for causing 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 buying auto insurance greatly outweigh the cost, specifically if you ever have a liability claim. On average, a vehicle owner in Chicago is overpaying more than $855 a year so you should quote rates at every policy renewal to ensure rates are inline.
Slash rates with these eight money saving discounts
Not too many consumers would say insurance is affordable, but you may be missing some discounts that you may not even know about. Most are applied when you purchase, but a few must be manually applied prior to getting the savings.
- Discounts for Seat Belt Usage – Buckling up and requiring all passengers to fasten their seat belts could save 15% on the medical payments or PIP coverage costs.
- Bundled Policy Discount – When you have multiple policies with one insurance company you could get a discount of up to 20% and get you cheaper Cayman insurance.
- Government Employee Discount – Simply working for the federal government could provide a small rate reduction depending on your insurance provider.
- New Vehicle Savings – Insuring a new Cayman can get you a discount since newer vehicles have better safety ratings.
- Student Discount for Driver Training – Have your child take driver’s ed class if offered at their school.
- Cautious Drivers – Drivers who avoid accidents may receive a discount up to 45% compared to rates paid by drivers with frequent claims.
- College Student – Any of your kids who are attending college and don’t have a car may qualify for this discount.
- Own a Home and Save – Owning a home in Chicago may trigger a policy discount on insurance because owning a home requires a higher level of personal finance.
Don’t be surprised that most credits do not apply to the whole policy. Most only reduce the cost of specific coverages such as liability and collision coverage. Just because it seems like adding up those discounts means a free policy, you aren’t that lucky.
If you would like to view insurance companies that provide some of the discounts listed above in Illinois, click this link.
Buying from insurance agents
Many people still like to buy from a licensed agent and we recommend doing that One of the benefits of getting free rate quotes online is that drivers can save money and get cheaper premium rates and still have an agent to talk to.
Once you complete this simple form, the quote information is instantly submitted to insurance agents in Chicago that provide free Chicago car insurance quotes and help you find cheaper coverage. You won’t need to contact any insurance agencies since price quotes are sent to the email address you provide. You can find better rates and a licensed agent to work with. If you wish to compare rates from a specific company, you just need to find their quoting web page and give them your coverage information.
Picking the best insurer requires you to look at more than just a cheap quote. Here are some questions you should ask.
- Does the agent have a valid license to sell insurance in Illinois?
- How experienced are they in personal risk management?
- Can you get a list of referrals?
- Do they assist clients in filing claims?
- Do they see any coverage gaps in your plan?
- What will you get paid if your car is a total loss? How is that amount determined?
- If you are a high risk driver, do they have special markets for your coverage?
- Is there any savings for paying the full premium?
When researching a reliable agent, it’s important to understand the different types of agencies and how they function. Agencies in Chicago can be categorized as either independent agents or exclusive agents.
Exclusive Insurance Agencies
Agents in the exclusive channel have only one company to place business with and some examples include Farmers Insurance and State Farm. Exclusive agents cannot place coverage with different providers so you need to shop around if the rates are high. Exclusive agencies are well schooled on sales techniques and that can be a competitive advantage. Consumers sometimes buy insurance from these agents partially due to the brand legacy rather than low price.
Listed below are exclusive insurance agents in Chicago who can help you get comparison quotes.
- Dave Rundle – State Farm Insurance Agent
4316 W 63rd St – Chicago, IL 60629 – (773) 735-0135 – View Map - Neal Gallo – State Farm Insurance Agent
6666 N Western Ave – Chicago, IL 60645 – (773) 743-6565 – View Map - Liane Williams – State Farm Insurance Agent
3143 W 71st St – Chicago, IL 60629 – (773) 436-7500 – View Map
Independent Insurance Agents
Agents that elect to be independent are not locked into one company so as a result can place your coverage through lots of different companies and get you the best rates possible. If prices rise, they simply move your policy to a different company which is easy for the insured. If you need cheaper auto insurance rates, we recommend you include rate quotes from several independent insurance agents to get the most accurate price comparison. They often place coverage with smaller regional carriers who may have lower rates.
The following is a short list of independent agencies in Chicago that can give you price quote information.
- Amigo Insurance Agency
5902 W Fullerton Ave – Chicago, IL 60639 – (877) 999-2644 – View Map - Beyer Insurance Agency
35 E Upper Wacker Dr #1730 – Chicago, IL 60601 – (312) 922-5300 – View Map - KSA Insurance Agency
7158 W Grand Ave – Chicago, IL 60707 – (773) 804-9000 – View Map
Insurance specifics
Understanding the coverages of insurance can help you determine appropriate coverage for your vehicles. Insurance terms can be difficult to understand and reading a policy is terribly boring.
Auto collision coverage
Collision insurance will pay to fix damage to your Cayman resulting from colliding with a stationary object or other vehicle. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for things such as crashing into a building, rolling your car, damaging your car on a curb, crashing into a ditch and backing into a parked car. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. Another option is to increase the deductible on your Cayman to bring the cost down.
Uninsured Motorist or Underinsured Motorist insurance
Your UM/UIM coverage gives you protection from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants and damage to your Porsche Cayman.
Because many people have only the minimum liability required by law (20/40/15), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.
Insurance for medical payments
Coverage for medical payments and/or PIP pay for bills for things like prosthetic devices, dental work, nursing services and surgery. They are utilized in addition to your health insurance plan or if there is no health insurance coverage. Coverage applies to you and your occupants and also covers getting struck while a pedestrian. PIP is not an option in every state but can be used in place of medical payments coverage
Liability insurance
This protects you from damage or injury you incur to people or other property that is your fault. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 20/40/15 which stand for $20,000 in coverage for each person’s injuries, $40,000 for the entire accident, and property damage coverage for $15,000.
Liability insurance covers claims like attorney fees, medical expenses, legal defense fees, court costs and structural damage. How much liability coverage do you need? That is your choice, but buy as large an amount as possible. Illinois state law requires minimum liability limits of 20/40/15 but you should think about purchasing better liability coverage.
Comprehensive coverage (or Other than Collision)
Comprehensive insurance will pay to fix damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims such as falling objects, damage from getting keyed, a broken windshield and damage from a tornado or hurricane. The maximum payout your insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Lower rates by being persistent
Budget-conscious Porsche Cayman insurance can be purchased on the web as well as from independent agents in Chicago, and you need to price shop both to get a complete price analysis. Some insurance providers may not provide the ability to get quotes online and most of the time these small, regional companies work with independent agents.
When you buy Chicago car insurance online, you should never skimp on critical coverages to save a buck or two. There have been many cases where an insured dropped liability coverage limits and found out when filing a claim that they should have had better coverage. Your objective should be to get the best coverage possible at the best price while still protecting your assets.
We’ve covered a lot of information how to reduce Porsche Cayman insurance premium rates online in Chicago. The key thing to remember is the more quotes you get, the better your comparison will be. You may even discover the lowest priced car insurance comes from some of the lesser-known companies.
More detailed car insurance information is available in the articles below:
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- What Auto Insurance is Cheapest for Teachers in Chicago? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for Welfare Recipients in Chicago? (FAQ)
- Who Has Cheap Car Insurance Quotes for Uninsured Drivers in Chicago? (FAQ)
- Preventing Carjacking and Theft (Insurance Information Institute)
- Child Safety Seats (Insurance Information Institute)