Insuring a Porsche

A Porsche is the quintessential sports car. With splendid combinations of power, performance, handling and style, these vehicles epitomize everything that a sports car is supposed to be. While you'll have to pay a premium to get your hands on one, you won't have to fork over nearly as much money as you would for many other sports cars. Besides, it is clear that these cars are more than worth it. Throughout its history, the automaker has distinguished itself by producing consistently high-quality sports cars. Unlike many other automakers, this one has never really produced a true dud. You're sure to have a blast driving one of their cars around town, but you should be prepared to pay a premium for insurance. In fact, the average annual cost to insure a Porsche is $2,342.87, and the brand ranks 33rd on a list of 36 brands. That shouldn't really come as a surprise. Find out why their cars are so pricey to insure by checking out the following information.

How Porsche Rose to Prominence

An automobile engineer named Ferdinand Porsche is the man who lent his name to this prestigious brand. He was in charge of the Porsche Engineering Office in Stuttgart, Germany, and he got into the car-making game in 1931. Thanks to his previous experience with Daimler and Mercedes, he was more than ready to create vehicles of his own. Some of the auto manufacturer's most iconic cars were produced during the 1950s, which is when the Spyder and Speedster debuted. The unforgettable 911 was unveiled in the 1960s and cemented the brand's place at the top of the world of sports cars. Popularity flagged briefly, but the Boxster breathed new life into the brand in 1997.

Standard Safety Features have Little Impact on Insurance Expenses

It's true that safer cars are cheaper to insure. When you're dealing with a vehicle that's as sporty and expensive as these, though, you can't expect safety to reduce the price of protection by very much. Most of the brand's vehicles are fitted out with several key safety features. However, crash tests are not performed on them due to their exorbitant price tags. They are quite safe, but their safety does next to nothing to bring down the amount that you'll have to pay to insure one.

Customer Statistics

Top 5 Insurance Companies

Coverage Type

  • State Farm
    9%
  • Allstate
    5%
  • Geico
    5%
  • Farmers
    3%
  • American
    2%

Male Vs. Female (percent)

Average Age (years)

84 Male
16 Female
37

Credit Score

Education

Important Factors

  • Price
    50%
  • Coverage options
    50%

High MSRPs Make Expenses Soar

Many of the cars cost well into the six-figure range, but not all of them. The Porsche Cayenne, for instance, has a starting MSRP of just below $50,000. That is still a lot more than most people are willing or able to pay. The Panamera has a starting price of around $75,000, and you will pay a lot more by adding just a few options. The gorgeous Porsche 911 Carrera will run you at least $100,000. These high price tags are primarily responsible for the expensive insurance premiums that go along with these cars.

Very Few Issues with Theft

Car thieves are fond of targeting generic vehicles that are unlikely to attract attention. Clearly, these vehicles are going to be noticed. As a result, these cars aren't stolen very often. On the lists that are compiled by the National Insurance Crime Bureau, you won't find a single Porsche. After spending so much on a car, you're sure to keep it safely under lock and key while not driving it.

The average cost to insure various Porsche models is as follows:

  • 911 Carrera 6-Cylinder - $2,089.00
  • Cayenne 6-Cylinder - $1,687.00
  • Panamera 6-Cylinder - 2,158.00

Model Statistics

CAYENNE
$2,500
CAYENNE

Average Annual Cost to Insure

BOXSTER
N/A
BOXSTER

Average Annual Cost to Insure

CAYMAN
N/A
CAYMAN

Average Annual Cost to Insure

944
N/A
Sorry, No Model Image

Average Annual Cost to Insure

911 CARRERA
N/A
911 CARRERA

Average Annual Cost to Insure

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