Compare 2005 Porsche Carrera GT Car Insurance Rates

Searching for better insurance coverage rates for your Porsche Carrera GT? Paying for high-priced Porsche Carrera GT insurance can drain your personal savings, especially in this economy. Shopping your coverage around is a smart way to tighten up your finances. Insurance companies such as Allstate, Liberty Mutual and State Farm all claim big savings with fancy advertisements and it is challenging if not impossible to ignore the promise of big savings and take the time to shop coverage around.

It’s a good habit to get comparison quotes every six months because prices are usually higher with each renewal. Even if you got the best price for Carrera GT insurance on your last policy you will most likely find a better rate today. There is a lot of bad information regarding insurance coverage on the web, but with this article, you’re going to get some excellent ideas to put money back in your pocket.

Why your Porsche Carrera GT insurance rates may be high

An important part of buying insurance is that you know the factors that go into determining the price you pay for insurance. Knowing what determines base rates empowers consumers to make smart changes that could result in better insurance rates.

Listed below are a few of the “ingredients” used by your company to calculate premiums.

  • A clean driving record saves money – A bad driving record has a big impact on rates. Even one citation can increase rates by as much as thirty percent. Good drivers tend to pay less for car insurance than their less careful counterparts. If you have dangerous violations like DWI, reckless driving or hit and run convictions may find they need to submit a SR-22 form with the DMV in their state in order to prevent a license revocation.
  • Younger drivers pay higher rates – Youthful drivers are known to get distracted easily when behind the wheel so insurance rates are higher. Older insureds are more responsible, file fewer claims and tend to be better behind the wheel.
  • Pay less after the wedding – Having a wife or husband helps lower the price on insurance. Having a significant other is viewed as being more responsible and it’s proven that married couples file fewer claims.
  • You might want pay the small claims yourself – Auto insurance companies award discounts to drivers who are claim-free. If you tend to file frequent claims, you can look forward to either a policy non-renewal or much higher rates. Your insurance policy is designed for larger claims.
  • Lower rates with optional equipment – Purchasing a vehicle with a theft deterrent system can get you a discount on your insurance. Anti-theft features such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping auto theft.
  • Safe vehicles cost less to insure – Safer cars are cheaper to insure. Safer cars protect occupants better and better occupant protection translates into savings for insurance companies and lower rates for you. If the Porsche Carrera GT has ratings of a minimum four stars on you may qualify for a discount.
  • Your occupation can affect rates – Did you know your job can affect your rates? Careers like lawyers, executives and dentists tend to have the highest average rates due to job stress and lengthy work days. Other occupations like scientists, historians and performers receive lower rates for Carrera GT insurance.
  • Protect yourself with liability coverage – Your policy’s liability coverage is the coverage that protects you if a court rules you are at fault for causing damage or personal injury in an accident. It provides you with a defense in court which can be incredibly expensive. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so drivers should carry high limits.

Pay less for 2005 Porsche Carrera GT insurance

Insurance can be prohibitively expensive, buy you may qualify for discounts to cut the cost considerably. Some trigger automatically when you get a quote, but a few must be specifically requested before being credited. If they aren’t giving you every credit you deserve, you are throwing money away.

  • Seat Belts Save more than Lives – Buckling up and requiring all passengers to buckle their seat belts could cut 10% or more on the medical payments or PIP coverage costs.
  • E-sign – Certain companies will discount your bill up to fifty bucks simply for signing online.
  • Sign Early and Save – A few companies offer discounts for signing up before your current policy expires. It can save you around 10%.
  • Discounts for Safe Drivers – Drivers who don’t get into accidents may receive a discount up to 45% less for Carrera GT insurance than their less cautious counterparts.
  • Lower Rates for Military – Having a family member in the military could mean lower rates.
  • Defensive Driving Course – Taking a driver safety course could possibly earn you a 5% discount if you qualify.
  • Drive Less and Save – Low mileage vehicles could qualify for better rates on cars that stay parked.
  • Homeowners Pay Less – Being a homeowner may earn you a small savings because maintaining a house requires personal responsibility.
  • No Charge for an Accident – Some insurance companies will forgive one accident before hitting you with a surcharge as long as you don’t have any claims prior to the accident.
  • Bundle and Save – If you have multiple policies with one company you will save at least 10% off all policies.

It’s important to understand that most discounts do not apply to all coverage premiums. Most only cut the cost of specific coverages such as physical damage coverage or medical payments. Even though it may seem like all the discounts add up to a free policy, it doesn’t quite work that way. Any amount of discount will cut the amount you have to pay.

For a list of providers with the best auto insurance discounts, click here to view.

Advertising myths

Consumers can’t get away from ads that promise big savings by companies like State Farm, GEICO and Progressive. All the ads make an identical promise about savings if you move to them.

How does each company make the same claim?

All the different companies can use profiling for the type of customer that makes them money. For instance, a desirable insured might be profiled as between the ages of 30 and 50, has no driving citations, and has a high credit rating. A driver who fits that profile will get the preferred rates and as a result will probably save quite a bit of money when switching.

Potential insureds who are not a match for these standards must pay higher rates and this can result in the driver buying from a lower-cost company. The ads say “people who switch” not “people who quote” save that much money. That’s why insurance companies can confidently make the claims of big savings.

This illustrates why it’s extremely important to compare as many rates as you can. It’s just too difficult to predict which car insurance company will fit your personal profile best.

Tailor your coverage to you

When buying the right insurance coverage, there isn’t really a best way to insure your cars. Each situation is unique and a cookie cutter policy won’t apply. For instance, these questions may help you determine whether your personal situation might need an agent’s assistance.

  • Should I carry comprehensive and collision coverage?
  • Does coverage extend to Mexico or Canada?
  • What can I do if my company won’t pay a claim?
  • Are rock chip repairs covered?
  • How can I get my company to pay me more for my totalled car?
  • What is the difference between comprehensive and collision coverage?

If you’re not sure about those questions, you may need to chat with a licensed agent. To find an agent in your area, complete this form or you can also visit this page to select a carrier It only takes a few minutes and may give you better protection.

Insurance policy coverages for a Porsche Carrera GT

Understanding the coverages of your insurance policy can help you determine the right coverages and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and even agents have difficulty translating policy wording. Listed below are the normal coverages found on most insurance policies.

Coverage for medical payments

Med pay and PIP coverage pay for immediate expenses like pain medications, prosthetic devices, rehabilitation expenses, funeral costs and nursing services. They are often used in conjunction with a health insurance policy or if you do not have health coverage. They cover both the driver and occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay

Comprehensive coverages

Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things such as hitting a deer, a tree branch falling on your vehicle, damage from a tornado or hurricane, theft and damage from flooding. The highest amount you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Coverage for collisions

Collision coverage pays for damage to your Carrera GT resulting from colliding with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things such as rolling your car, colliding with another moving vehicle and driving through your garage door. This coverage can be expensive, so you might think about dropping it from lower value vehicles. Another option is to choose a higher deductible to get cheaper collision coverage.


Liability coverage will cover damage that occurs to other people or property. It protects YOU against claims from other people. Liability doesn’t cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have policy limits of 25/50/25 which means a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property. Some companies may use one number which is a combined single limit which provides one coverage limit with no separate limits for injury or property damage.

Liability coverage pays for things like repair bills for other people’s vehicles, medical expenses, court costs and repair costs for stationary objects. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as large an amount as possible.

Uninsured and underinsured coverage

This protects you and your vehicle’s occupants when other motorists either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is very important. Frequently the UM/UIM limits are identical to your policy’s liability coverage.

A penny saved is a penny earned

Affordable 2005 Porsche Carrera GT insurance can be sourced on the web and also from your neighborhood agents, and you should be comparing both to have the best selection. Some insurance companies may not provide the ability to get a quote online and these small insurance companies work with independent agents.

Throughout this article, we presented some good ideas how to shop for insurance online. The key thing to remember is the more rate comparisons you have, the better chance you’ll have of finding lower rates. You may even find the best price on insurance coverage is with a small mutual company. These smaller insurers can often insure niche markets at a lower cost compared to the large companies like Allstate, GEICO and Progressive.

Even more information is available by following these links: