Searching for low-cost insurance for a Porsche Panamera in Tennessee can turn out to be difficult, but you can learn the following methods to find lower rates. There are more efficient ways to find auto insurance online so we’re going to tell you the quickest way to compare rates on a Porsche and obtain the lowest price from both online companies and Memphis agents.
Discounts can help to save on Porsche Panamera insurance in Memphis
Some providers don’t necessarily list their entire list of discounts very clearly, so the following list contains some of the more common and the more hidden credits that may apply to you.
- Discounts for New Vehicles – Buying coverage on a new vehicle may earn a small discount since newer models have better safety ratings.
- Life Insurance Discount – Not all companies offer life insurance, but some may give you a small discount if you purchase life insurance from them.
- Low Mileage – Driving less could be rewarded with better car insurance rates on cars that stay parked.
- Service Members Pay Less – Being on active deployment in the military may qualify for rate reductions.
- Bundled Policy Discount – If you combine your auto and home policies and place coverage with the same company you could earn a discount of over 10 percent off each policy depending on the company.
- Claim-Free Discount – Drivers with accident-free driving histories can earn big discounts in comparison with frequent claim filers.
- Telematics Data – Memphis drivers who agree to allow companies to monitor driving manner by using a telematics device in their vehicle such as Allstate’s Drivewise and State Farm’s In-Drive system may see discounts if they exhibit good driving behavior.
As is typical with insurance, some of the credits will not apply to the entire policy premium. Most only cut the price of certain insurance coverages like medical payments or collision. Even though the math looks like you can get free auto insurance, nobody gets a free ride.
The diagram below illustrates the difference between Porsche Panamera insurance prices with and without discounts applied to the policy premium. The rate quotes are based on a male driver, no driving violations, no at-fault accidents, Tennessee state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, marriage, safe-driver, homeowner, and multi-policy discounts applied.
Companies and a partial list of their discounts are detailed below.
- American Family may have discounts that include early bird, multi-vehicle, good student, accident-free, and TimeAway discount.
- State Farm has discounts for good student, multiple autos, Steer Clear safe driver discount, accident-free, and student away at school.
- 21st Century policyholders can earn discounts including air bags, theft prevention, automatic seat belts, early bird, homeowners, and teen driver.
- Travelers offers discounts for payment discounts, student away at school, good student, home ownership, and hybrid/electric vehicle.
- GEICO offers premium reductions for defensive driver, air bags, emergency military deployment, five-year accident-free, and daytime running lights.
Before buying, ask each company or agent which discounts you may be entitled to. Some discounts may not be available in your state. If you would like to see a list of providers who offer car insurance discounts in Tennessee, click here to view.
The auto insurance companies shown below are ready to provide comparison quotes in Tennessee. If you want cheaper car insurance in Memphis, we recommend you click on several of them to find the most competitive auto insurance rates.
Insurance coverage details
The premium information below highlights a range of insurance coverage prices for Porsche Panamera models. Learning a little about how policy rates are calculated can help drivers make informed decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Panamera S 4-Dr Hatchback | $316 | $660 | $350 | $20 | $104 | $1,450 | $121 |
| Panamera 4S AWD 4-Dr Hatchback | $316 | $722 | $350 | $20 | $104 | $1,512 | $126 |
| Panamera Turbo AWD 4-Dr Hatchback | $360 | $846 | $350 | $20 | $104 | $1,680 | $140 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Premium costs do not factor in vehicle garaging location which can alter premium rates significantly.
Physical damage deductibles
When buying car insurance, a common question is how high should the physical damage coverage deductibles be. The following tables illustrate the costs and benefits between high and low comp and collision deductibles. The first set of rates uses a $250 deductible for physical damage and the second price grid uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Panamera S 4-Dr Hatchback | $396 | $712 | $288 | $18 | $86 | $1,525 | $127 |
| Panamera 4S AWD 4-Dr Hatchback | $396 | $778 | $288 | $18 | $86 | $1,591 | $133 |
| Panamera Turbo AWD 4-Dr Hatchback | $452 | $912 | $288 | $18 | $86 | $1,781 | $148 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Panamera S 4-Dr Hatchback | $322 | $574 | $288 | $18 | $86 | $1,288 | $107 |
| Panamera 4S AWD 4-Dr Hatchback | $322 | $628 | $288 | $18 | $86 | $1,342 | $112 |
| Panamera Turbo AWD 4-Dr Hatchback | $368 | $736 | $288 | $18 | $86 | $1,496 | $125 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Estimates do not factor in specific location information which can modify coverage prices greatly.
Based on the figures above, using a $250 deductible will cost you about $21 more each month or $252 for a full year across all Porsche Panamera models than requesting the higher $500 deductible. Because you would be required to pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you tend to have at least 12 months between claims, you would save more money going with the higher deductible.
How to calculate if a higher deductible is a good decision
| Average monthly premium for $250 deductibles: | $136 |
| Average monthly premium for $500 deductibles (subtract): | – $115 |
| Monthly savings from raising deductible: | $21 |
| Difference between deductibles ($500 – $250): | $250 |
| Divide difference by monthly savings: | $250 / $21 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 12 months |
Tickets and at-fault accidents raise rates
The diagram below demonstrates how speeding tickets and at-fault accidents can influence Porsche Panamera yearly insurance costs for different age groups. The premiums are based on a single male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied to the premium.
Rate difference between full and liability-only coverage
The example below shows the difference between Porsche Panamera car insurance costs with and without physical damage coverage. The costs are based on a clean driving record, no claims, $500 deductibles, single status, and no additional discounts are factored in.
Deciding between full coverage and liability only
There is no definitive rule for eliminating physical damage coverage on your policy, but there is a general school of thought. If the yearly cost of comp and collision coverage is more than around 10% of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let’s pretend your Porsche Panamera settlement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would receive is $5,000 after paying your policy deductible. If premiums are more than $500 a year for physical damage coverage, then you might want to think about dropping full coverage.
There are a few situations where removing full coverage is not in your best interest. If you still have a loan on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.
Insurance can be complex
When it comes to buying your policy, there isn’t really a best way to insure your cars. Each situation is unique.
Here are some questions about coverages that might help in determining whether or not you could use an agent’s help.
- How do I buy GAP insurance?
- Do I have ACV or replacement cost coverage?
- Am I covered if I hit my neighbor’s mailbox?
- How many claims can I have before being canceled?
- Can I afford low physical damage deductibles?
- Are my tools covered if they get stolen from my vehicle?
If it’s difficult to answer those questions but a few of them apply, you may need to chat with a licensed agent. If you want to speak to an agent in your area, take a second and complete this form. It is quick, free and you can get the answers you need.
Car insurance is available from agents near you
A small number of people still prefer to go talk to an agent and that is a personal choice. Good agents can point out coverage gaps and help submit paperwork. A good thing about comparing rate quotes online is you can get cheap rate quotes but also keep your business local.
Once you complete this simple form, the coverage information is transmitted to companies in Memphis who will gladly provide quotes to get your business. There is no reason to find an agent as quotes are delivered straight to your inbox. If you wish to compare prices for a specific company, don’t hesitate to find their quoting web page and give them your coverage information.
Picking the best insurance company shouldn’t rely on just a cheap price quote. These are some questions your agent should answer.
- Are they in the agency full-time?
- Do they prorate repair cost based on vehicle mileage?
- What discounts might you be missing?
- In the event of vehicle damage, can you pick the collision repair facility?
- What will you get paid if your car is a total loss? How is that amount determined?
- Are they primarily personal or commercial lines agents in Memphis?
- Do they see any coverage gaps in your plan?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
If you would like to find a reliable insurance agency, there are a couple of types of agencies and how they differ in how they can insure your vehicles. Car insurance agents can be described as either independent (non-exclusive) or exclusive. Either can sell car insurance policies, but it’s worth mentioning how they differ because it can impact your agent selection.
Exclusive Agencies
These type of agents work for only one company and some examples include State Farm, Allstate and AAA. They are unable to give you multiple price quotes so you need to shop around if the rates are high. Exclusive agents are trained well on sales techniques which helps offset the inability to provide other markets. Consumers sometimes use the same agent primarily because of the brand legacy rather than low price.
Listed below are exclusive agencies in Memphis who can help you get rate quotes.
- Derrick Hodges – State Farm Insurance Agent
7249 Winchester Rd – Memphis, TN 38125 – (901) 572-1985 – View Map - Zach Jaworski – State Farm Insurance Agent
6060 Primacy Pkwy #221 – Memphis, TN 38119 – (901) 794-3691 – View Map - Ruby Williams – State Farm Insurance Agent
3624 Austin Peay Hwy #5 – Memphis, TN 38128 – (901) 388-0000 – View Map
Independent Car Insurance Agents
Agents that elect to be independent are not required to write business for one company so they can quote policies with a variety of different insurance companies and get you the best rates possible. If they find a lower price, they simply move your policy to a different company which makes it simple for you.
If you are trying to find cheaper rates, it’s recommended you contact at a minimum one independent agency for the best price selection. They also have the ability to place coverage with additional companies that you may not be familiar with which could offer lower prices.
Shown below is a short list of independent insurance agents in Memphis that are able to give rate quotes.
- First Reliable Insurance Agency
5495 Winchester Rd Suite 3 – Memphis, TN 38115 – (901) 362-6052 – View Map - AutoSave Insurance
2550 Poplar Ave – Memphis, TN 38112 – (901) 458-1630 – View Map - Nationwide Insurance: Daysha J Palacio-Miller
1850 Poplar Crest Cove Ste 102 – Memphis, TN 38119 – (901) 762-8585 – View Map
If you receive good responses as well as affordable Porsche Panamera insurance rates in Memphis quotes, most likely you have located an auto insurance agent that meets your needs to insure your vehicles. But keep in mind you have the power to terminate your policy for any reason so don’t feel that you’re stuck with any specific agency for the full policy term.
What is the best car insurance company in Memphis?
Picking a good quality company can be challenging considering how many choices there are in Memphis. The company information in the next section could help you analyze which coverage providers to look at putting your business with.
Top 10 Memphis Car Insurance Companies Overall
- Travelers
- USAA
- Mercury Insurance
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
Top 10 Memphis Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
A conclusion for your car insurance search
We just presented many ideas to save on Porsche Panamera insurance in Memphis. The most important thing to understand is the more providers you compare, the better your chances of lowering your rates. Drivers may even discover the most savings is with an unexpected company.
When buying insurance coverage, never sacrifice coverage to reduce premiums. There have been many situations where someone dropped liability limits or collision coverage only to discover later they didn’t have enough coverage. The proper strategy is to buy the best coverage you can find at the lowest possible cost.
Lower-priced car insurance in Memphis is attainable on the web and also from your neighborhood Memphis agents, and you should be comparing both so you have a total pricing picture. There are still a few companies who don’t offer rates over the internet and usually these small insurance companies only sell coverage through independent agents.
Steps to finding affordable Porsche Panamera insurance in Memphis
If saving money is your primary concern, then the best way to find discount Porsche Panamera insurance is to annually compare prices from different companies who provide auto insurance in Memphis. You can compare rates by following these steps.
- Try to learn a little about how insurance companies determine prices and the modifications you can make to drop your rates. Many things that drive up the price like speeding and a substandard credit history can be rectified by making minor changes to your lifestyle.
- Compare price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from a single company like Progressive or State Farm, while agents who are independent can provide prices from multiple sources.
- Compare the price quotes to the premium of your current policy and determine if cheaper Panamera coverage is available in Memphis. If you can save money and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Provide notification to your current company to cancel your existing policy and submit a down payment and signed policy application to your new company or agent. As soon as you receive it, put the proof of insurance paperwork with the vehicle registration.
The key aspect of shopping around is to use similar limits and deductibles on each quote and and to get quotes from every insurance company. Doing this guarantees the most accurate price comparison and and a good selection of different prices.
Additional learning opportunities
- Protecting Teens from Drunk Driving (Insurance Information Institute)
- What Auto Insurance is Cheapest for Low Credit Scores in Memphis? (FAQ)
- What Insurance is Cheapest for Low Income Drivers in Memphis? (FAQ)
- What Insurance is Cheapest for Inexperienced Drivers in Memphis? (FAQ)
- What Insurance is Cheapest for College Graduates in Memphis? (FAQ)
- Parking Tips to Reduce Door Dings (State Farm)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)
- Rental Car Insurance Tips (Insurance Information Institute)