Porsche boxter, What expense an Insurance
Porsche Boxter
What is an expense on my car insurance?
Reputable insurance companies offer discounts to those who have cars that cost less than a certain amount. This typically means obtaining lower-cost or cheaper cars either through used car sales or by renting them out rather than buying them outright. If your car falls in the range of these eligible vehicles, you may be able to receive discounts ranging from 5% to 30%.
A Porshe Boxter is an expensive vehicle with a sticker price around $55,000 USD (Car). With this getting into a Porsche boxter will cost about $28,000 USD (Insurance) for five years with no deductible. So not only will the insurance cost be expensive, but you will have to carry a higher deductible as well that has to be paid up front. This will also make it much harder to sell your vehicle in the future and leave you more exposed in an event of a claim.
At this point of writing, a Porsche Boxter is a very expensive car with an insurance premium of around $28,000 USD over five years (Estimated). This is because car insurance generally assumes that you would own an average vehicle. Therefore no matter how high your depreciation is, the premium is based on this assumption. Even if you drive a Porsche Boxter normally and nothing happens, you will still be paying the same high premium.
Premiums are calculated at the time of sale of your vehicle. Since Porsches are extremely expensive vehicles and have a tendency to have higher depreciation rates, premium rates would be higher for these vehicles. With cars like this, insurance companies will only calculate their premiums after they know what vehicle they will insure based on their records of previous claims. This also means that having a higher deductible than usual would not affect your premium as much as other cars on average may.
If you want to own a car like this (Porsche Boxter), here are some insurance tips:
1. Maintain lower mileage - The higher the miles, the higher your premium will be. Even though this vehicle is insured for five years, try to get into a situation where you do not have to drive it as much. Have a second car or use public transportation where possible. You can also try to sell the vehicle at an early point of time so that you will not be paying high premiums for an additional two years.
2. Learn from your previous insurance companies - It is important that you learn from your previous insurance companies as they would have more information available than any other company. Talk to them about what type of driving you are doing and what they would recommend if anything in particular.
3. Don't buy a car that is extremely high in depreciation - It is important that you do not buy what your insurance company considers as a high risk vehicle. This would include high performance vehicles such as Porsches (Boxter or otherwise). In most cases, these vehicles have similar depreciation rates as cars with lower profit margins. If they have higher costs to insure as well, you may be paying for the same amount of insurance on both cars even though the Porsche may cost $20,000 more and you pay $13,000 more every year for an extra two years (five years). For this reason, it is important that you do not buy what your insurance company considers as high risk vehicles.
4. Rent a Porsche Boxter - If you want to drive a Porsche Boxter, you can rent one for a week or two and drive it to your destination. This means that you will not have to pay depreciation costs and will only pay the insurance costs which may be much lower than paying for a full year's worth of premiums on owning the vehicle.
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Conclusion from this article:
It is important that you keep your insurance premiums low as possible. While there are various tips and strategies that can help you to do so, two of the most effective tips are actually quite simple - maintain lower mileage (mileage is the number one factor in calculating premiums) and learn from your previous insurance companies. Knowing more about your previous insurance companies would let you know what type of driving they are doing, i.e. what types of claims they make and how often they make them on a per car basis. This way, you could compare the type of driving that they do versus what you do.