If saving money is your primary concern, then the best way to quote cheaper car insurance rates in Oakland is to start comparing prices yearly from companies who sell insurance in California. Price quotes can be compared by completing these steps.
Step 1: Get an understanding of what coverages are included in your policy and the measures you can take to lower rates. Many factors that cause high rates like traffic citations and poor credit can be amended by making minor changes in your lifestyle. This article gives more ideas to prevent high prices and get additional discounts that may have been overlooked.
Step 2: Obtain price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only quote rates from one company like Progressive or Allstate, while agents who are independent can quote rates from multiple sources.
Step 3: Compare the price quotes to your existing policy and determine if there is any savings. If you find a lower rate quote and decide to switch, make sure there is no lapse in coverage.
Step 4: Give proper notification to your current agent or company of your intention to cancel your current auto insurance policy. Submit the completed application along with a down payment for your new coverage. As soon as coverage is bound, place your new proof of insurance paperwork in an easily accessible location.
One key aspect of rate comparisons is to make sure you’re comparing the same liability limits and deductibles on every quote and and to get rates from every company you can. This helps ensure a level playing field and a thorough selection of prices.
Anyone knows that car insurance companies want to keep you from shopping around. Insureds who shop around for the cheapest rate are highly likely to switch car insurance companies because of the good chance of finding a cheaper policy. Remarkably, a study showed that drivers who compared rates once a year saved as much as $3,450 over four years compared to drivers who never compared rates.
If finding discount rates on Porsche Panamera insurance is your intention, then having a good understanding the best way to quote and compare coverages can help simplify the process.
Many insurance companies allow consumers to get coverage price quotes online. Comparing prices online for Porsche Panamera insurance in Oakland is quite easy because you just enter your personal and coverage information into a form. After you submit the form the quote system collects your driving record and credit report and quotes a price based on these and other factors. This helps simplify price comparisons, and it’s very important to have as many quotes as possible if you are searching for the cheapest possible prices on auto insurance.
To save time and find out what other companies charge, compare rates from the companies below. If you have your current policy handy, we recommend you complete the form with the coverage information exactly as shown on your declarations page. This makes sure you will get an apples-to-apples comparison for similar insurance coverage.
The following companies are our best choices to provide price comparisons in California. To find cheap auto insurance in Oakland, we recommend you visit as many as you can to get the best price comparison.
Insurance statistics for a Porsche Panamera
The rate information shown next covers different rate quotes for Porsche Panamera models. Learning how rate quotes are figured is important for you to make informed decisions when comparing rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Panamera S 4-Dr Hatchback | $472 | $924 | $424 | $26 | $126 | $1,972 | $164 |
| Panamera 4S AWD 4-Dr Hatchback | $472 | $1012 | $424 | $26 | $126 | $2,060 | $172 |
| Panamera Turbo AWD 4-Dr Hatchback | $540 | $1186 | $424 | $26 | $126 | $2,302 | $192 |
| Get Your Own Custom Quote Go | |||||||
Data variables include married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Rate quotes do not factor in zip code location which can decrease or increase insurance rates noticeably.
How high should deductibles be?
When comparing insurance rates, the most common question is the level to set your comp and collision deductibles. The tables below may help to illustrate how much more you’ll pay between high and low physical damage coverage deductibles. The first pricing table uses a $250 deductible for physical damage and the second rate table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Panamera S 4-Dr Hatchback | $606 | $1088 | $442 | $26 | $132 | $2,319 | $193 |
| Panamera 4S AWD 4-Dr Hatchback | $606 | $1190 | $442 | $26 | $132 | $2,421 | $202 |
| Panamera Turbo AWD 4-Dr Hatchback | $692 | $1396 | $442 | $26 | $132 | $2,713 | $226 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Panamera S 4-Dr Hatchback | $492 | $878 | $442 | $26 | $132 | $1,970 | $164 |
| Panamera 4S AWD 4-Dr Hatchback | $492 | $960 | $442 | $26 | $132 | $2,052 | $171 |
| Panamera Turbo AWD 4-Dr Hatchback | $564 | $1126 | $442 | $26 | $132 | $2,290 | $191 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Price information does not factor in Oakland location which can revise premiums noticeably.
We can derive from the above data that using a $250 deductible costs an average of $32 more each month or $384 every year averaged for all Panamera models than opting for the higher $500 deductible. Since the policyholder would be required to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you tend to average at a minimum 8 months between claim filings, you would save money if you elect the higher deductible.
Full coverage rates compared to liability-only
The chart below shows the comparison of Porsche Panamera insurance costs when comparing full coverage to liability only. The premium estimates are based on no claims or violations, $1,000 deductibles, drivers are not married, and no policy discounts are applied.
Are you wasting money on full coverage?
There is no clear-cut formula to delete physical damage coverage, but there is a general guideline. If the yearly cost of comp and collision coverage is about 10% or more 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 $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would receive is $4,000 after the policy deductible has been paid. If it’s costing you more than $400 a year for physical damage coverage, then you may want to consider only buying liability coverage.
There are some circumstances where eliminating full coverage is not a good idea. If you have an outstanding loan on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should not remove full coverage.
Auto insurance is an important decision
Despite the high insurance cost for a Porsche Panamera in Oakland, insuring your vehicle serves a purpose in several ways.
First, almost all states have compulsory liability insurance requirements which means the state requires specific minimum amounts of liability insurance in order to be legal. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
Second, if your Panamera has a loan, most lenders will require that you have physical damage coverage to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the lender may have to buy a policy to insure your Porsche at a significantly higher premium and require you to reimburse them a much higher amount than you were paying before.
Third, auto insurance protects your car and your assets. It will also pay for medical expenses for not only you but also any passengers injured in an accident. Liability insurance will also pay to defend you if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and collision coverage will pay to have it repaired.
The benefits of carrying enough insurance greatly outweigh the cost, especially for larger claims. According to a survey of 1,000 drivers, the average driver is overpaying over $810 a year so it’s very important to do a rate comparison every year to make sure the price is not too high.
Verify you’re applying every discount
Companies offering auto insurance don’t always publicize the entire discount list very clearly, so the following is a list of a few of the more common as well as some of the hidden credits available to lower your premiums when you buy Oakland car insurance online. If they aren’t giving you every credit you qualify for, you are paying more than you should be.
- Student Driver Training – Cut your cost by having your teen driver take driver’s ed class as it will make them better drivers and lower rates.
- Defensive Driver Discount – Taking time to complete a defensive driving course could earn you a small percentage discount and easily recoup the cost of the course.
- Discounts for Seat Belt Usage – Drivers who require all occupants to buckle up can save up to 15% on the premium charged for medical payments and/or PIP.
- Low Mileage Discounts – Low mileage vehicles could earn lower rates on the low mileage vehicles.
- Policy Bundle Discount – If you insure your home and vehicles and insure them with the same company you could get a discount of up to 20% and get you cheaper Panamera insurance.
- Senior Citizen Discount – Drivers that qualify as senior citizens can possibly qualify for a slight reduction on a Oakland car insurance quote.
- Responsible Drivers – Insureds without accidents may receive a discount up to 45% compared to accident prone drivers.
- Discount for Life Insurance – Select insurance companies reward you with a discounted rate on car insurance if you buy some life insurance too.
- Military Deployment Discount – Having a family member in the military could be rewarded with lower rates.
- Passive Restraint Discount – Vehicles equipped with air bags and/or automatic seat belt systems may get savings of 20% or more.
You should keep in mind that some of the credits will not apply to the overall cost of the policy. A few only apply to individual premiums such as liability and collision coverage. Despite the appearance that all those discounts means the company will pay you, company stockholders wouldn’t be very happy.
The information below illustrates the difference between Porsche Panamera insurance prices with and without discounts applied to the rates. The premium estimates are based on a female driver, no accidents or driving violations, California state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, marriage, homeowner, safe-driver, and claim-free discounts applied.
Car insurance companies that may offer quotes with most of the discounts above include:
If you are trying to find affordable Oakland car insurance quotes, ask all the companies how many discounts you can get. Depending on the company, some discounts may not apply to policies in Oakland. If you would like to choose from a list of providers who offer online Porsche Panamera insurance quotes in California, click here.
What if I want to buy from local Oakland car insurance agents?
A small number of people would rather get professional advice from a licensed agent and we recommend doing that Insurance agents can point out coverage gaps and help file insurance claims. A nice benefit of getting free rate quotes online is that you can find lower rates and also buy local.
To help locate an agent, after submitting this short form, your coverage information is instantly submitted to companies in Oakland that can give you free Oakland car insurance quotes and help you find cheaper coverage. You never need to even leave your home as quotes are delivered immediately to you. If you have a need to quote rates for a specific company, you would need to go to their quote page and fill out their quote form.
Finding the right provider requires more thought than just the bottom line cost. These questions are important to ask:
- How would your car be valued if totaled?
- Do they offer claims assistance after hours?
- Will they make sure you get an adequate claim settlement?
- Do you qualify for any additional discounts?
- How often do they review policy coverages?
- Do they prorate repair cost based on vehicle mileage?
- Are they paid to recommend certain coverages?
- Are there any discounts for paying up front?
Information about specific coverages
Learning about specific coverages of car insurance aids in choosing the best coverages for your vehicles. Car insurance terms can be ambiguous and nobody wants to actually read their policy. These are typical coverage types found on most car insurance policies.
Collision coverage – This coverage covers damage to your Panamera resulting from a collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.
Collision insurance covers things such as backing into a parked car, colliding with another moving vehicle, sideswiping another vehicle, hitting a parking meter and hitting a mailbox. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. You can also bump up the deductible on your Panamera to get cheaper collision coverage.
Insurance for medical payments – Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses such as pain medications, rehabilitation expenses, hospital visits, prosthetic devices and ambulance fees. They are used to fill the gap from your health insurance program or if you do not have health coverage. It covers you and your occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is only offered in select states but it provides additional coverages not offered by medical payments coverage
Coverage for liability – This can cover damages or injuries you inflict on people or other property by causing an accident. Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show values of 15/30/5 that means you have $15,000 in coverage for each person’s injuries, a per accident bodily injury limit of $30,000, and a total limit of $5,000 for damage to vehicles and property.
Liability coverage pays for claims like loss of income, attorney fees and bail bonds. How much coverage you buy is a personal decision, but consider buying as much as you can afford. California requires drivers to carry at least 15/30/5 but drivers should carry more coverage.
The illustration below shows why the minimum limit may not be high enough to cover claims.
Uninsured Motorist or Underinsured Motorist insurance – Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they either have no liability insurance or not enough. It can pay for injuries to you and your family as well as damage to your Porsche Panamera.
Since many California drivers have only the minimum liability required by law (15/30/5 in California), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family.
Comprehensive coverage (or Other than Collision) – Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things like a broken windshield, damage from flooding and hitting a deer. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.
More effort can pay off
You just read quite a bit of information on how to reduce Porsche Panamera insurance auto insurance rates online in Oakland. It’s most important to understand that the more you quote Oakland car insurance, the better your comparison will be. You may even be surprised to find that the best auto insurance rates are with a small mutual company. Regional companies can often provide lower premium rates in certain areas as compared to the big name companies such as State Farm, GEICO and Nationwide.
Discount Porsche Panamera insurance in Oakland is attainable from both online companies and with local Oakland insurance agents, and you should compare price quotes from both so you have a total pricing picture. Some insurance companies don’t offer price quotes online and usually these small insurance companies prefer to sell through independent insurance agents.
As you prepare to switch companies, never buy less coverage just to save a little money. There are too many instances where someone dropped uninsured motorist or liability limits to discover at claim time that the few dollars in savings costed them thousands. Your goal is to buy a smart amount of coverage at the best cost, but do not skimp to save money.
Helpful resources
- Credit and Insurance Scores (Insurance Information Institute)
- Who Has Affordable Oakland Auto Insurance for Drivers with a DUI? (FAQ)
- How Much is Car Insurance for State Employees in Oakland? (FAQ)
- Who Has Affordable Oakland Auto Insurance for Drivers Over Age 60? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Nurses in Oakland? (FAQ)
- Who Has Affordable Auto Insurance Rates for High School Students in Oakland? (FAQ)
- How to Avoid Staged Accidents (State Farm)
- Neck Injury FAQ (iihs.org)
- Safety Tips for Teen Drivers (Insurance Information Institute)