Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent Benji Carr

UPDATED: Oct 5, 2015

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Looking for lower car insurance rates? Shoppers have lots of choices when shopping for the lowest priced Porsche 918 Spyder insurance. They can either waste time struggling with agents to compare prices or save time using the internet to make rate comparisons.

There is a better way to compare car insurance rates and we’ll show you the best way to compare rates for a new or used Porsche and locate the best price possible from local insurance agents and online providers.

Smart consumers take time to do rate comparisons every six months because insurance rates are variable and change quite frequently. Just because you found the best rate on 918 Spyder coverage last year you can probably find a better price now. Forget anything you know (or think you know) about car insurance because we’re going to show you the right way to find better rates and still maintain coverage.

If you have insurance now or are just looking to switch companies, you can follow these tips to cut your premiums and still get good coverage. This article will instruct you on how to effectively get price quotes and some tricks to saving. Consumers just need to learn the proper methods to find the lowest price on the web.

Four factors that determine insurance costs

Many things are used when premium rates are determined. Some factors are common sense like your driving record, although others are more obscure such as your marital status and annual miles driven.It’s important that you understand some of the elements that go into determining your policy premiums. When you understand what impacts premium levels, this allows you to make good choices that could result in lower rates.

Shown below are most of the major factors companies use to determine your premiums.

  • Reduce prices by staying claim free – Insurance companies generally give the best rates to people who are not frequent claim filers. If you’re an insured who likes to file claims you can look forward to either higher rates or even cancellation. Auto insurance is designed for larger claims.
  • Urban residents pay more – Residing in small towns and rural areas may provide you with better prices when insuring your vehicles. People in densly populated areas tend to have more road rage incidents and a longer drive to work. Fewer drivers means reduced accidents as well as less vandalism and auto theft.
  • Never have coverage lapses – Having a gap between insurance policy dates is a quick way to drive up your policy premiums. In addition to paying higher premiums, being ticketed for driving with no insurance may result in fines and jail time.
  • Liability limits are a factor – The liability coverage on your policy is the coverage that protects you if ever a court rules you are at fault for an accident. Your liability coverage provides legal defense coverage which can cost a lot. This coverage is relatively inexpensive when compared to the cost of physical damage coverage, so drivers should carry high limits.

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These discounts can reduce auto insurance rates

Buying auto insurance is not cheap, but you may be missing some discounts that can help lower your rates. Certain reductions will be credited when you purchase, but lesser-known reductions have to be specially asked for prior to getting the savings.

  • Distant Student Discount – Kids who are enrolled in a college that is more than 100 miles from home and do not have a car may be able to be covered for less.
  • Driver Education Discount – Have your child complete a driver education course in school or through a local driver safety program.
  • Use Seat Belts – Using a seat belt and requiring all passengers to wear their seat belts may be able to save a few bucks off the medical payments premium.
  • Professional Memberships – Being in specific professional or occupational memberships or organizations could trigger savings when getting a auto insurance quote.
  • Paper-free Discount – Some companies will give you a small discount just for signing your application on the web.
  • Discount for Home Ownership – Owning your own home or condo can earn you a little savings because of the fact that having a home is proof that your finances are in order.
  • Renewal Discounts – A few companies offer discounts for switching to them early. This discount can save up to 10%.
  • Claim-Free Discount – Good drivers with no accidents pay much less as compared to drivers who are more careless.
  • Discount for Low Mileage – Fewer annual miles on your Porsche can qualify you for cheaper prices.

You should keep in mind that most discounts do not apply to the entire policy premium. Most only apply to the cost of specific coverages such as collision or personal injury protection. So even though it sounds like you would end up receiving a 100% discount, nobody gets a free ride. But any discount will definitely reduce your policy premium.

A few of the larger companies and some of the discounts include:

  • GEICO policyholders can earn discounts including defensive driver, membership and employees, emergency military deployment, good student, driver training, and multi-policy.
  • Travelers discounts include multi-policy, good student, IntelliDrive, home ownership, multi-car, save driver, and continuous insurance.
  • Farm Bureau includes discounts for driver training, safe driver, multi-vehicle, good student, and renewal discount.
  • Liberty Mutual offers discounts including teen driver discount, hybrid vehicle, preferred payment discount, newly married, and new graduate.
  • American Family may have discounts that include TimeAway discount, mySafetyValet, multi-vehicle, defensive driver, and Steer into Savings.
  • Progressive has discounts for good student, online quote discount, multi-vehicle, online signing, multi-policy, continuous coverage, and homeowner.

If you are trying to find cheap auto insurance quotes, ask all the companies to give you their best rates. A few discounts may not apply everywhere.

Slick advertising tricks that work

Consumers can’t escape the ads that claim the cheapest premium rates by Progressive, GEICO, Allstate and State Farm. All the companies make an identical promise that drivers can save some big amount if you change your car insurance policy to them.

How does every company make the same claim?

Many companies require specific criteria for a prospective insured that earns them the highest profit. A good example of a driver they prefer might be over the age of 45, has a clear driving record, and has excellent credit. Any person who matches that profile will get a cheap rate quote and most likely will cut their rates if they switch.

Consumers who do not meet these criteria must pay a higher rate which leads to the driver buying from a lower-cost company. The trick is to say “customers who switch” not “all people who quote” save money. That is how companies can truthfully make claims like that.

This really emphasizes why drivers must compare price quotes frequently. It’s just not possible to know with any certainty which company will provide you with the cheapest prices.

When do I need an agent’s advice?

When it comes to choosing proper insurance coverage for your vehicles, there really is no “best” method to buy coverage. Everyone’s needs are different.

These are some specific questions may help highlight if your situation would benefit from an agent’s advice.

  • Are all vehicle passengers covered by medical payments coverage?
  • Do I need PIP (personal injury protection) coverage in my state?
  • Should I have combined single limit or split liability limits?
  • Is my custom paint covered by insurance?
  • Am I covered when driving a rental car?
  • Is my Porsche 918 Spyder covered if I use it for business?
  • What is no-fault insurance?
  • Are my friends covered when driving my 2015 Porsche 918 Spyder?
  • How do I buy GAP insurance?

If it’s difficult to answer those questions, then you may want to think about talking to an insurance agent. If you don’t have a local agent, complete this form. It only takes a few minutes and can provide invaluable advice.

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Auto insurance coverage information

Understanding the coverages of your insurance policy can be of help when determining the right coverages at the best deductibles and correct limits. Insurance terms can be impossible to understand and nobody wants to actually read their policy.

Collision coverage protection

This will pay to fix damage to your 918 Spyder resulting from colliding with another vehicle or an object, but not an animal. A deductible applies then the remaining damage will be paid by your insurance company.

Collision can pay for claims like driving through your garage door, sustaining damage from a pot hole and damaging your car on a curb. Paying for collision coverage can be pricey, so consider dropping it from lower value vehicles. You can also bump up the deductible to get cheaper collision coverage.

Medical expense insurance

Medical payments and Personal Injury Protection insurance provide coverage for expenses for things like dental work, surgery, rehabilitation expenses and prosthetic devices. The coverages can be used in conjunction with a health insurance policy or if you are not covered by health insurance. It covers not only the driver but also the vehicle occupants and also covers being hit by a car walking across the street. PIP is only offered in select states but it provides additional coverages not offered by medical payments coverage

Liability car insurance

Liability insurance protects you from damage or injury you incur to other’s property or people that is your fault. This coverage protects you from claims by other people. It does not cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 25/50/25 which means $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and $25,000 of coverage for damaged propery. Some companies may use one number which is a combined single limit which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage protects against claims such as loss of income, structural damage and medical services. The amount of liability coverage you purchase is your choice, but consider buying as much as you can afford.

Comprehensive (Other than Collision)

This will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage protects against things like damage from flooding, damage from getting keyed and falling objects. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Protection from uninsured/underinsured drivers

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they are uninsured or don’t have enough coverage. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your Porsche 918 Spyder.

Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family. Normally your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Summing up your insurance coverage search

Drivers leave their current company for a number of reasons such as unfair underwriting practices, policy cancellation, high prices and even delays in paying claims. No matter why you want to switch, finding a new company is not as hard as you think.

We covered many tips how you can reduce 2015 Porsche 918 Spyder insurance car insurance rates online. The key thing to remember is the more you quote auto insurance, the better chance you’ll have of finding cheap auto insurance. Consumers may even find the biggest savings come from an unexpected company.

Cheaper 2015 Porsche 918 Spyder insurance is attainable on the web in addition to many insurance agents, so you should compare both to have the best chance of lowering rates. Some insurance providers do not provide online rate quotes and many times these small insurance companies provide coverage only through independent insurance agencies.

To learn more, take a look at the resources below: