What affects the price of car insurance?
Car insurance companies base cost on several risk factors, including:
Your age: Older drivers normally have more experience on the road than young drivers. This means they're statistically less likely to be in accidents, so they often benefit from cheaper insurance.
Your occupation: Some occupations are considered risky by insurers. This can be because you spend more time on the road or are likely to park in locations where your car is at risk of damage or theft. It can also be because of the types of people you're likely to associate with.
Your car: Insurers categorise cars into groups from 1-50. The higher the insurance group, the more you'll pay for insurance. Porsches are expensive, powerful cars and it can be costly to repair or replace them. Because of this, models tend to fall into groups 35-50 and cost more to insure. You'll also pay more if your car has any modifications.
Where you live: Living in busy areas with high rates of vehicle theft will mean you'll pay more for car insurance compared to quiet areas with lower risk.
Your driving history: Previous claims and convictions may increase the price you pay.
How can I save money on my Porsche car insurance?
Insurers base their prices on risk
But, this doesn't mean there aren't still ways to save money. There are several things you can do to help get cheaper car insurance:
Increase your voluntary excess
Selecting a higher voluntary excess will mean you may pay less for your car insurance. But you should make sure you set it at a level you can afford if you need to pay. Don't forget to consider the compulsory excess, as you'll need to pay this too.
Improve your car's security
Adding features like alarms, car trackers and immobilisers. Parking in a secure garage and using a steering wheel lock can also deter thieves.
Build up your no-claims bonus (NCB)
Each year you drive without making a claim, you get a year added to your NCB. The more NCB you've built up, the bigger the discount you could get on your insurance. Some policies allow you to protect your NCB, so you can make a certain number of claims in a year without affecting your discount.
Pay annually rather than monthly
Insurers add interest and admin fees when you choose to pay monthly. So, by opting to pay annually you could save up to 16%2 on your car insurance.
Shop around and compare quotes
You don't have to accept the renewal price your insurer offers. Opting to shop around instead of auto-renewing is the easiest way to ensure you're getting the best price for your Porsche insurance. The best time to shop around is 26 days2 before your renewal date.
Estimate your mileage accurately
The more miles you drive, the higher your insurance will cost. Having an accurate estimate when getting a quote means you'll only be paying for the miles you actually drive. On average, our customers drive 6,621 miles per year2. If you don't drive many miles, you might benefit from a pay-as-you-gopolicy.
2Based on Confused.com data November 2023 - April 2024.
What types of insurance can I get for my Porsche?
Third-party
Third-party, fire and theft
Comprehensive
*Based on Confused.com data January - June 2023
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Page last reviewed: 24/04/2024
Reviewed by: Louise Thomas
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