How Much Does Porsche Insurance Cost? The Porsche Owner's Guide to Auto Insurance

Boxer, 911, Cayman, Cayenne, and Panamera - Porsche. The mere mention of the name conjures an image of a uniquely engineered (distinct exhaust notes and 500-hp) machine boasting style and luxury, not to mention precision handling. It’s every man’s (and woman’s) dream. But, this vision has a price – not only the cost of the vehicle or maintenance, but also the premiums for the auto insurance.

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In 1930, Ferdinand Porsche designed the first car in Germany. As the world’s largest manufacturer of sports cars, Porsche has been a pioneer of groundbreaking advancements from the Lohner-Porsche electric car in 1900 to the rear-end engine location of the 911 in 1963. Today, the Cayenne Diesel, Cayenne S Hybrid, and the Panamera are making history. According to Ryan McIntyre of Jim Ellis Porsche in Atlanta, GA, “The Cayenne has been our best seller since its release, but the Panamera was launched in 2010 and is becoming another big player.” Bill Anderson, a Porsche dealer in Fayetteville, NC says, “My best guess on the most sales per state would be Florida and California depending on the time of year. . . and the prices can range from $48,100 up to $172,000 not including freight and available options.” Ryan also says his typical customer is “Males in their 50s who are successful.”

So, how does this information affect your quest for auto insurance? Insurance for high-end (fast) sports cars is costly, and every Porsche owner wants a comprehensive policy to protect their investment. Those two factors together are a recipe for expensive insurance premiums. On the other hand, the typical Porsche customer is an actuary’s ideal policyholder - i.e., age 35 – 50, homeowner, stable employment, and usually with a good driving history.

I contacted Allstate insurance company and got monthly (six month) quotes for a male with the following information:
- Age 50
- Residence: Atlanta, GA
- stable insurance coverage history (no coverage gaps)
- anti-theft features on car
- driver’s training (for which Allstate offers a savings of $91 off of their Featured Plan)

Allstate's quotes for the above information were $38 monthly for the Economy Plan, $48 monthly for the Featured Plan, and $177 monthly for the Enhanced Plan. Nationwide and The Hartford Insurance Company had similar rates.

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Equipping yourself with information, comparing coverage options, and avoiding unnecessary claims are simple, quick and cost effective strategies. So, when you do slide behind the wheel of your new Porsche, you will have two reasons to smile. Not only are you the proud owner of one of the world’s finest sports cars, but you also finessed a great deal on your auto insurance. Go ahead. Bask in your achievement. You deserve it.