Unimaginable but true, nearly 70% of consumers renewed their policy with the same company for more than four years, and approximately 38% of consumers have never even compared quotes to find affordable rates. Drivers in Maryland could save themselves up to $800 a year just by comparing rates, but most undervalue the actual amount they would save if they switched to a cheaper policy.
If you want to save money, the best way to find lower priced car insurance rates in Baltimore is to do an annual price comparison from providers in Maryland.
First, read about how auto insurance works and the steps you can take to keep rates in check. Many rating criteria that cause high rates such as traffic violations, accidents, and a less-than-favorable credit history can be remedied by improving your driving habits or financial responsibility. Later in this article we will cover information to get lower rates and get additional discounts.
Second, quote rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give rate quotes from a single company like Progressive and State Farm, while independent agencies can provide prices from multiple sources. Select a company
Third, compare the price quotes to your existing coverage to see if you can save by switching companies. If you can save some money and buy the policy, ensure coverage does not lapse between policies.
A key point to remember is to try to use the same level of coverage on each quote and and to get rate quotes from all possible companies. This enables a fair rate comparison and maximum price selection.
Our objective is to help you learn how to effectively get price quotes and also save some money in the process If you are already insured, you stand a good chance to be able to find better prices using the concepts covered in this article. Drivers just need to use the fastest way to get comparison quotes on the web.
The quickest method we recommend to compare car insurance company rates for Porsche Panamera insurance in Baltimore is to know the trick auto insurance companies participate in a system to compare rate quotes. All you need to do is spend a couple of minutes providing details like how you use your vehicles, your general credit rating, the ages of drivers, and if it has an anti-theft system. Your information is instantly sent to many highly-rated insurers and they return quotes immediately.
To find lower affordable Porsche Panamera insurance rates now, click here and find out if lower rates are available in Baltimore.
The auto insurance companies shown below have been selected to offer free quotes in Maryland. If multiple companies are listed, we suggest you visit several of them in order to find the lowest rates.
Auto insurance policy discounts you can’t miss
Some providers don’t always publicize every discount they offer in a way that’s easy to find, so the list below details both well-publicized and the harder-to-find discounts you could be receiving when you buy Baltimore auto insurance online.
- Save over 55 – Older drivers could receive better auto insurance rates.
- Fewer Miles Equal More Savings – Driving less could earn substantially lower prices.
- Passive Restraints and Air Bags – Vehicles equipped with air bags and/or automatic seat belt systems may get savings of 20% or more.
- Safety Course Discount – Taking time to complete a course teaching safe driver skills could possibly earn you a 5% discount and also improve your driving technique.
- Theft Prevention System – Cars, trucks, and SUVs optioned with advanced anti-theft systems have a lower chance of being stolen and earn discounts up to 10% off your Baltimore auto insurance quote.
- Professional Organizations – Joining a civic or occupational organization in Baltimore could trigger savings on your next auto insurance statement.
- Accident Waiver – This one is not really a discount per se, but a handful of insurance companies will forgive one accident before raising your premiums so long as you haven’t had any claims for a set time period.
As is typical with insurance, some credits don’t apply to all coverage premiums. A few only apply to the price of certain insurance coverages like comprehensive or collision. Despite the appearance that having all the discounts means you get insurance for free, that’s just not realistic. Any qualifying discounts will definitely lower the premium cost.
The diagram below illustrates the difference between Porsche Panamera auto insurance rates with and without discounts applied to the policy rates. Data assumes a male driver, no claims or violations, Maryland state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, multi-car, safe-driver, multi-policy, and homeowner discounts applied.
Insurance companies that have some of the discounts shown above include:
If you want inexpensive Baltimore auto insurance quotes, ask all the companies which discounts you may be entitled to. Savings may not be available in your area.
Data for Porsche Panamera insurance
The rate table displayed next highlights a range of insurance premium costs for Porsche Panamera models. Having a better idea how insurance prices are determined is important to be able to make smart choices when buying a policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Panamera S 4-Dr Hatchback | $532 | $1230 | $458 | $28 | $138 | $2,386 | $199 |
| Panamera 4S AWD 4-Dr Hatchback | $532 | $1346 | $458 | $28 | $138 | $2,502 | $209 |
| Panamera Turbo AWD 4-Dr Hatchback | $610 | $1576 | $458 | $28 | $138 | $2,810 | $234 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Information does not factor in specific Baltimore garaging location which can raise or lower auto insurance rates noticeably.
The example below highlights how deductible selection and can affect Porsche Panamera yearly insurance costs for different age groups of insureds. The rate quotes are based on a single male driver, full physical damage coverage, and no discounts are applied.
Difference between full coverage and liability only rates
The chart below illustrates the difference between Porsche Panamera insurance costs with and without full coverage. The costs are based on no accidents or driving violations, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.
Guidelines for eliminating full coverage
There is no clear-cut formula for eliminating full coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than around 10% of replacement cost minus your deductible, then it might be time to consider dropping full coverage.
For example, let’s pretend your Porsche Panamera settlement value is $7,000 and you have $1,000 deductibles. If your vehicle is destroyed, you would only receive $6,000 after the policy deductible has been paid. If you are paying over $600 a year for comprehensive and collision coverage, then it could be time to drop full coverage.
There are some circumstances where buying only liability insurance is not financially feasible. If you still have a loan on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.
Insurance agent or online?
Many drivers just want to sit down and talk to an agent and that is recommended in a lot of cases Professional agents can help determine the best coverages and help you file claims. One of the benefits of comparing insurance prices online is that you can find cheap insurance rates and still have an agent to talk to. Buying insurance from small agencies is definitely important in Baltimore.
By using this quick form, your information is submitted to companies in Baltimore who will return price quotes to get your business. You never need to do any legwork because prices are sent immediately to you. If you want to compare prices from a particular provider, just go to their quote page and fill out their quote form.
Choosing the best insurer is decision based upon more than just the quoted price. Before buying a policy in Baltimore, get answers to these questions.
- How much experience to they have in personal lines coverages?
- Will a damage claim use OEM or aftermarket replacement parts?
- How would your car be valued if totaled?
- Are they paid to recommend certain coverages?
- Do they reduce claim amounts on high mileage vehicles?
Insurance Rate Influencing Factors
A large part of saving on car insurance is knowing the factors that go into determining your policy premiums. If you know what positively or negatively impacts your premiums, this enables you to make decisions that could result in better car insurance rates. Many things are taken into consideration when premium rates are determined. Some are obvious such as your driving record, although some other factors are not as apparent such as your credit history or how safe your car is.
The factors shown below are a few of the things utilized by car insurance companies to help set your prices.
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Rates increase with driving citations – Good drivers pay less for auto insurance compared to drivers with tickets. Getting just one ticket can increase the cost of insurance by as much as twenty percent. Drivers who have multiple violations such as DUI, reckless driving or excessive speeding may be required to complete a SR-22 with their state in order to drive a vehicle legally.
The diagram below demonstrates how traffic citations and at-fault claims can raise Porsche Panamera auto insurance costs for different ages of insureds. The premiums are based on a single male driver, comprehensive and collision coverage, $500 deductibles, and no additional discounts are factored in.
- More traffic equals higher prices – Being located in areas with lower population has definite advantages when talking about car insurance. Fewer drivers on the road translates into fewer accident claims in addition to fewer liability claims. Drivers in populated Maryland areas regularly have much more traffic and a longer drive to work. Longer commute distances statistically corresponds to a higher accident and claim rate.
- Choose high IIHS safety ratings and save – Cars with five star safety ratings tend to have better insurance rates. Vehicles built for safety protect occupants better and better occupant protection means lower claim amounts and cheaper rates on your policy. If your Porsche has ratings of a minimum four stars on Safercar.gov you are probably receiving a discount.
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With age comes lower costs – Teen drivers in Maryland are known to be inattentive when driving therefore car insurance rates are much higher. More mature drivers have been proven to be more responsible, cost insurance companies less in claims, and tend to be get fewer driving tickets.
The chart below assumes a single driver, full coverage with $500 deductibles, and no discounts or violations.
- Policy lapses raise car insurance rates – Not maintaining insurance can get you a ticket and your next policy will cost more because you let your insurance coverage expire. Not only will you pay more, not being able to provide proof of insurance can result in fines or a revoked license. You may then be required to prove you have insurance by filing a SR-22 with the Maryland motor vehicle department.
- Pay more out-of-pocket – Insurance for physical damage, termed comprehensive and collision coverage on your policy, covers your vehicle from damage. A few examples of covered claims are a broken side mirror, flood damage, and damage from a fallen tree branch. Physical damage deductibles are the amount of money you are required to spend if the claim is covered. The more money the insured is willing to pay, the lower your rates will be.
- Liability protection is peace of mind – The liability section of your policy kicks in if ever a court rules you are at fault for damages from an accident. Your policy’s liability insurance provides legal defense which can cost thousands of dollars. This coverage is very inexpensive compared to comp and collision, so do not skimp.
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Insurance loss statistics a Porsche Panamera – Insurance companies analyze historical claim data when they calculate premium rates for each model. Models that have higher frequency or amount of claims will cost more for coverage.
The table below outlines the actual insurance loss data for Porsche Panamera vehicles. For each policy coverage type, the statistical loss for all vehicles, as an average, is set at 100. Percentage numbers below 100 indicate a favorable loss history, while values that are 100 or greater show a trend for more claims or a tendency for losses to be larger than average.
Porsche Panamera Insurance Loss 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 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Car insurance protects more than just your car
Even though it’s not necessarily cheap to insure a Porsche in Baltimore, insurance is not optional due to several reasons.
- Just about all states have minimum liability requirements which means state laws require a minimum amount of liability insurance coverage in order to drive the car legally. In Maryland these limits are 30/60/15 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your Panamera has a lienholder, more than likely the lender will have a requirement that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the bank may buy a policy for your Porsche at an extremely high rate and force you to pay for the expensive policy.
- Car insurance preserves not only your Porsche but also your assets. Insurance will also pay for medical expenses for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, 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 cover the repair costs.
The benefits of having car insurance more than cancel out the cost, particularly if you ever have a claim. The average driver in Maryland overpays as much as $855 a year so it’s important to compare rates each time the policy renews to be sure current rates are still competitive.
Get the best coverage at the best price
As you shop your coverage around, do not buy lower coverage limits just to save a few bucks. There have been many cases where someone sacrificed physical damage coverage only to discover later that it was a big error on their part. The goal is to buy enough coverage for the lowest cost.
People switch companies for a variety of reasons including unfair underwriting practices, delays in paying claims, poor customer service or policy cancellation. It doesn’t matter why you want to switch finding the right insurance provider is less work than it seems.
A few companies don’t offer online quoting and usually these regional insurance providers only sell coverage through independent agencies. Cost effective Porsche Panamera insurance is possible both online and also from your neighborhood Baltimore agents, so compare prices from both to have the best rate selection.
More information is located at the links below
- Your Car has been Stolen: Now What? (Allstate)
- Who Has Affordable Baltimore Car Insurance Quotes for Drivers Over Age 60? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Low Credit Scores in Baltimore? (FAQ)
- How Much are Car Insurance Quotes for Ride Shares in Baltimore? (FAQ)
- What Car Insurance is Cheapest for Seniors in Baltimore? (FAQ)
- How Much are Baltimore Auto Insurance Rates for Drivers with Bad Credit? (FAQ)
- Safety Features for Your New Car (State Farm)
- Safe Vehicles for Teens (iihs.org)