If your goal is the lowest price, then the best way to save on Porsche Panamera insurance is to compare prices once a year from providers in Anchorage.
- First, try to learn a little about how companies set rates and the steps you can take to prevent expensive coverage. Many risk factors that cause rate increases like traffic citations, accidents, and a poor credit rating can be remedied by making small lifestyle or driving habit changes.
- Second, compare prices from direct, independent, and exclusive agents. Exclusive and direct companies can only provide price estimates from one company like GEICO or State Farm, while agents who are independent can provide rate quotes from many different companies.
- Third, compare the new rate quotes to your current policy premium to see if switching to a new carrier will save money. If you can save some money and switch companies, make sure there is no lapse in coverage.
- Fourth, notify your agent or company to cancel your current coverage. Submit the required down payment along with the signed application to your new agent or company. Once the application is submitted, place your new certificate of insurance in an accessible location in your vehicle.
A valuable tip to remember is that you’ll want to compare the same physical damage deductibles and liability limits on each quote request and and to compare as many auto insurance providers as possible. This enables an accurate price comparison and a complete price analysis.
Everyone knows that auto insurance companies don’t want you quoting rates from other companies. Insureds who shop for lower rates are inclined to buy a new policy because there is a great chance of finding coverage at a more affordable price. A study showed that people who routinely shopped around saved over $850 each year compared to those who don’t make a habit of comparing rates.
If finding budget-friendly insurance in Anchorage is your goal, learning the best way to compare insurance premiums can make the process more efficient.
Quoting and comparing the lowest cost car insurance coverage in Anchorage is easy to do. In essence, each driver who is looking for cheaper car insurance will more than likely find a lower price. But Alaska drivers need to learn how companies calculate your car insurance rates because it can help you find the best coverage.
The are a couple different ways to obtain and compare prices from different Anchorage insurance companies. The best method to find the cheapest insurance rates is simply to get online rate quotes.
Online shopping is fast and free, and it makes it a waste of time to waste gas driving to each insurance agency near you. Shopping for car insurance online can eliminate the need for a local agent unless you have a complicated situation and need the peace of mind of a local agency. Some companies do allow you to get prices online but still have the advice of a local agent.
When comparing car insurance rates, know that comparing a large number of companies gives you a better chance of getting more affordable rates. Some companies don’t provide rate quotes online, so it’s recommended that you also compare price estimates from the smaller companies as well.
The companies shown below are our best choices to provide free rate quotes in Alaska. If you want to find the cheapest auto insurance in Anchorage, AK, we suggest you visit as many as you can to get the most competitive price.
Statistics and details
The rate table below highlights estimates of rate quotes for Porsche Panamera models. Learning more about how prices are figured can aid in making smart choices when buying a car insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Panamera S 4-Dr Hatchback||$414||$800||$272||$16||$82||$1,584||$132|
|Panamera 4S AWD 4-Dr Hatchback||$414||$874||$272||$16||$82||$1,658||$138|
|Panamera Turbo AWD 4-Dr Hatchback||$476||$1026||$272||$16||$82||$1,872||$156|
|Get Your Own Custom Quote Go|
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Alaska minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Price information does not factor in Anchorage location which can change premiums greatly.
Cost of full coverage
The example below shows the comparison of Porsche Panamera insurance costs with full physical damage coverage compared to only buying liability only. The rates are based on no claims, a clean driving record, $250 deductibles, single status, and no other discounts are factored in.
When to drop comprehensive and collision
There isn’t a steadfast formula for dropping physical damage coverage on your policy, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is about 10% or more of any settlement you would receive from your insurance company, then it’s probably a good time to buy liability coverage only.
For example, let’s pretend your Porsche Panamera claim settlement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would receive is $5,000 after you pay the deductible. If you are paying in excess of $500 a year for physical damage coverage, then you may need to consider dropping full coverage.
There are a few situations where buying only liability insurance is not recommended. If you haven’t satisfied your loan, you must maintain physical damage coverage to protect the lienholder’s interest in the vehicle. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should maintain full coverage.
Protect your Porsche vehicle and other assets
Even though it can be expensive, insuring your vehicle may be required and benefits you in several ways.
- Most states have mandatory liability insurance requirements which means you are required to buy specific minimum amounts of liability if you drive a vehicle. In Alaska these limits are 50/100/25 which means you must have $50,000 of bodily injury coverage per person, $100,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you bought your Porsche Panamera with a loan, almost every bank will stipulate that you carry insurance to guarantee loan repayment. If you do not pay your insurance premiums, the bank may buy a policy for your Porsche at a much higher premium rate and force you to pay for the much more expensive policy.
- Insurance safeguards not only your vehicle but also your financial assets. Insurance will also pay for medical transport and hospital expenses that are the result of an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if anyone sues you for causing an accident. If damage is caused by hail or an accident, comprehensive (other-than-collision) and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of insuring your Panamera are definitely more than the cost, specifically if you ever have a liability claim. The average driver in America is currently overpaying as much as $865 each year so it’s recommended you shop around each time the policy renews to ensure rates are inline.
Score discounts to get cheaper Anchorage insurance rates
Some companies don’t always list all possible discounts in an easy-to-find place, so here is a list some of the more common in addition to some of the lesser obvious credits available to you.
- E-sign – A few larger online companies may give you up to $50 just for signing your application online.
- Organization Discounts – Affiliation with certain professional organizations is a simple method to lower premiums when getting a Anchorage car insurance quote.
- Switch and Save Discount – Some companies reward drivers for buying a policy prior to the expiration date on your current Panamera insurance policy. This can save 10% or more.
- Government Employees – Federal government employees could provide a small rate reduction with a few insurance companies.
- More Vehicles More Savings – Purchasing coverage when you have multiple vehicles on the same insurance policy can reduce the rates for all insured vehicles.
Just know that most discounts do not apply to the entire policy premium. Most cut individual premiums such as medical payments or collision. So even though it sounds like you would end up receiving a 100% discount, it’s just not the way it works.
The chart below illustrates the difference between Porsche Panamera auto insurance rates with and without discounts applied. The costs are based on a female driver, no violations or accidents, Alaska state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, claim-free, homeowner, multi-car, and safe-driver discounts applied.
Large insurance companies and some of the discounts are shown below.
- Farm Bureau may have discounts that include good student, multi-vehicle, 55 and retired, driver training, multi-policy, renewal discount, and safe driver.
- MetLife offers discounts for multi-policy, claim-free, good driver, accident-free, defensive driver, good student
- Progressive may offer discounts for homeowner, online quote discount, multi-policy, online signing, good student, continuous coverage, and multi-vehicle.
- AAA has discounts for anti-theft, multi-policy, pay-in-full, good student, and education and occupation.
- American Family offers discounts including Steer into Savings, multi-vehicle, good student, good driver, air bags, accident-free, and mySafetyValet.
- GEICO has savings for five-year accident-free, defensive driver, membership and employees, air bags, federal employee, military active duty, and seat belt use.
- State Farm includes discounts for multiple policy, accident-free, anti-theft, passive restraint, and Steer Clear safe driver discount.
If you need cheaper Anchorage car insurance quotes, ask every company to apply every possible discount. Some credits might not be offered on policies in your area. To view insurance companies who offer insurance discounts in Anchorage, click this link.
When to contact an insurance agency
Some people still prefer to talk to a local agent and there is nothing wrong with that. A nice benefit of comparing rate quotes online is the fact that drivers can get cheap rate quotes and still have a local agent. And providing support for local insurance agents is still important in Anchorage.
After completing this simple form, the quote information is submitted to local insurance agents in Anchorage that can provide free Anchorage car insurance quotes for your coverage. You won’t even need to leave your house because prices are sent to your email. You’ll get the best rates without the usual hassles of price shopping. If you want to get a comparison quote for a specific company, feel free to go to their quote page to submit a rate quote request.
Listed below are Anchorage car insurance companies that can give you price quote information for Porsche Panamera insurance in Anchorage.
500 W 36th Ave #210 – Anchorage, AK 99503 – (907) 770-2400 – View Map
Kevin Dykman Agency
4450 Cordova St #120 – Anchorage, AK 99503 – (907) 563-5300 – View Map
Finding the right provider requires more thought than just the premium amount. These are valid questions to ask:
- If you raise deductibles, how much can you save?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- What company do they have the most business with?
- Are they giving you every discount you deserve?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- Are claim adjusters local or do you have to take your car somewhere else?
- What companies can they write with?
If you receive positive responses to your questions and cheap Panamera insurance quotes, chances are good that you have found an insurer that can provide insurance coverage. But remember, consumers can cancel a policy at any point so never assume that you are permanently stuck with any specific agency for the full term.
Ratings for Alaska auto insurance companies
Buying coverage from the top insurance provider can be difficult considering how many companies there are in Alaska. The company rank data in the next section may help you analyze which providers you want to consider comparing prices from.
Top 10 Anchorage Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 94%
- AAA Insurance – 91%
- State Farm – 90%
- GEICO – 89%
- The Hartford – 89%
- The General – 88%
- 21st Century – 88%
- Allstate – 88%
- Liberty Mutual – 88%
- Esurance – 87%
Top 10 Anchorage Car Insurance Companies by A.M. Best Rank
- USAA – A++
- State Farm – A++
- GEICO – A++
- Esurance – A+
- Allstate – A+
- Progressive – A+
- The Hartford – A+
- The General – A-
- AAA Insurance – A
- Liberty Mutual – A
Do I just need basic coverages?
Keep in mind that when it comes to choosing proper insurance coverage for your vehicles, there really is no one size fits all plan. Everyone’s situation is a little different.
For example, these questions can help discover whether your personal situation would benefit from professional advice.
- When does my teenage driver need to be added to my policy?
- Is my Porsche Panamera covered if I use it for business?
- Should I carry comprehensive and collision coverage?
- When can I cancel my policy?
- Can I afford low physical damage deductibles?
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
If you don’t know the answers to these questions but you know they apply to you then you might want to talk to a licensed agent. If you want to speak to an agent in your area, complete this form.
The coverage is in the details
Knowing the specifics of a auto insurance policy aids in choosing the best coverages and proper limits and deductibles. Policy terminology can be ambiguous and nobody wants to actually read their policy.
Uninsured/Underinsured Motorist (UM/UIM)
This coverage gives you protection from other motorists when they either have no liability insurance or not enough. Covered losses include injuries to you and your family as well as damage to your Porsche Panamera.
Due to the fact that many Alaska drivers only purchase the least amount of liability that is required (50/100/25), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked. Most of the time these coverages are set the same as your liability limits.
Liability coverage protects you from damage or injury you incur to other people or property by causing an accident. It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 50/100/25 which stand for a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and $25,000 of coverage for damaged property. Alternatively, you may have a combined limit that pays claims from the same limit rather than limiting it on a per person basis.
Liability coverage protects against claims such as attorney fees, emergency aid, funeral expenses and legal defense fees. How much liability coverage do you need? That is your choice, but you should buy as large an amount as possible. Alaska state minimum liability requirements are 50/100/25 but it’s recommended drivers buy higher limits.
The chart below shows why low liability limits may not provide adequate coverage.
Med pay and Personal Injury Protection (PIP)
Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses like prosthetic devices, EMT expenses and funeral costs. They are used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. Personal injury protection coverage is not universally available but it provides additional coverages not offered by medical payments coverage
Collision coverage protection
This pays for damage to your Panamera resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.
Collision insurance covers claims such as crashing into a building, hitting a parking meter, rolling your car and driving through your garage door. Collision coverage makes up a good portion of your premium, so consider removing coverage from lower value vehicles. Another option is to bump up the deductible on your Panamera to save money on collision insurance.
This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things such as hail damage, a tree branch falling on your vehicle and fire damage. The maximum payout a auto insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Cheap car insurance is out there
In this article, we covered a lot of ways to reduce Porsche Panamera insurance premium rates online in Anchorage. The most important thing to understand is the more companies you get prices for, the better your chances of lowering your prices. You may even be surprised to find that the best price on car insurance is with a small local company.
When trying to cut insurance costs, make sure you don’t buy poor coverage just to save money. There are a lot of situations where consumers will sacrifice full coverage and discovered at claim time that the savings was not a smart move. Your goal is to purchase a proper amount of coverage at an affordable rate, but do not sacrifice coverage to save money.
Insureds change insurance companies for a number of reasons such as unfair underwriting practices, high rates after DUI convictions, not issuing a premium refund or even delays in paying claims. It doesn’t matter what your reason, finding a new company is less work than it seems.
For more information, link through to these articles:
- Side Impact Crash Tests (iihs.org)
- What Insurance is Cheapest for Veterans in Anchorage? (FAQ)
- How Much is Anchorage Auto Insurance for a Kia Forte? (FAQ)
- What Auto Insurance is Cheapest for 16 Year Olds in Anchorage? (FAQ)
- What Car Insurance is Cheapest for Electric Cars in Anchorage? (FAQ)
- Who Has Cheap Auto Insurance for College Students in Anchorage? (FAQ)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
- Vehicle Size and Weight FAQ (iihs.org)
- Comprehensive Coverage (Liberty Mutual)
- Senior Drivers (Insurance Information Institute)