Car insurance for Porsche

How much does it cost to insure a Porsche?

The average cost of full coverage car insurance in the United States is $2,458 per year. On average, Porsche insurance costs about $3,513 per year for the same coverage.

Because car insurance premiums are individualized based on several rating factors, the price you pay may be higher or lower. Your driving record, ZIP code, age, the coverage types you choose and more are all used to determine rates. Each car insurance company sets rates differently, as well, which is why the cost of auto insurance varies by carrier.

The make and model of the car you drive also makes a difference. For a luxury vehicle like a Porsche, you can expect to pay more for insurance than you would for a more traditional consumer car. The base price, safety features, cost to repair, price of parts and likelihood of being in an accident all contribute to the cost of Porsche car insurance.

• Price of parts: Porsche uses high-quality materials on its vehicles, so the price of parts to repair a Porsche can be higher than it is for other makes. This could increase Porsche auto insurance premiums because claims costs might be higher.
• Safety features: Vehicles with robust safety features can be cheaper to insure, thanks to the lower risk of collisions and claims. While Porsches aren’t rated by key U.S. safety organizations like the National Highway Traffic Safety Administration (NHTSA) and the Insurance Institute for Highway Safety (IIHS), models with driver assistance technology could see lower insurance rates.
• Performance capabilities: How you drive can impact your insurance as much as what you drive. Sports cars built for high-speed driving may be subject to higher insurance rates due to the potential for risky driving.

Car insurance for a Porsche: by model

In addition to car insurance rates varying based on your personal rating factors, they can also vary based on each vehicle model. Different models have different repair costs and safety features which can change the cost of insurance.

Car insurance for Porsche 718 Boxster

Available as a coupe or a convertible, the Porsche 718 Boxster is a highly rated sports car. With a starting price of just under $77,000, it’s one of the most affordable Porsches to buy — and to insure.

Car insurance for Porsche 718 Cayman

The 718 Cayman is one of the sportiest cars that Porsche offers. With a base price of $74,795 and similar features to the Boxster, the Cayman also has similar rates for car insurance, costing just a bit more than the Boxster.

Car insurance for Porsche Cayenne

Available in two body styles with gas-powered and hybrid powertrains, the Porsche Cayenne SUV starts at $86,695, with prices as high as $131,495 for the Cayenne Coupe GTS. The Cayenne comes with more safety features than the 718 models and the Panamera, though it has a higher base price, depending on the trim package. The pricier Cayenne typically commands higher car insurance costs, likely due to its higher price and performance features.

Cheapest car insurance companies for Porsche

Car insurance rates also vary by carrier since each car insurance company sets its own rates. As a result, no single carrier offers the best insurance for Porsche vehicles — it’s all about comparing rates to find the best fit for your profile and insurance needs. The table below shows average annual full coverage premiums for the Porsche models featured from several of the largest auto insurance providers in the country, based on market share.

Though your rates will differ based on your personal driving profile and coverage choices, it may be helpful to know the average premium for several companies as you are shopping for car insurance. If you currently own a Porsche, you might consider switching companies if you find a carrier that offers a lower premium for the coverage you need.

Average annual premium for full coverage by model

Porsche features that impact insurance costs

Auto insurance manufacturers all have unique features that can affect the price of car insurance. Some aspects of Porsche vehicles that may impact rates are:

• Airbags: Porsche models come standard with front and knee airbags, but some models include curtain and rear airbags. The more airbags a car has, the more you might save on car insurance.
• Advanced driver assistance systems (ADAS): Advanced safety features like lane keeping assist, blind-spot monitoring and forward collision mitigation are available or standard on many Porsche models. While you may not get a direct discount for these features, some insurers may consider them when writing premiums for your Porsche. 
• Engine size: When buying a Porsche, you’ll have a choice between various engine builds, each of which delivers a different performance payload. More powerful engines are built for speed, which could make them a higher insurance risk. 
• Comfort and convenience features: Every optional package and feature — from ventilated seats to heated steering wheels and voice controls — adds to the cost to insure your Porsche.

Other car insurance coverage for Porsche

Cost is not the only feature to consider when shopping for car insurance for a Porsche. It's also important to ensure you have the right amount and type of coverage to protect your investment. 

For most Porsche vehicles, full coverage is a must-have. While it’s not a legal requirement, it’s typically required by lenders if your Porsche is leased or financed. A full coverage car insurance policy includes comprehensive coverage, which pays up to the actual cash value of your Porsche if it’s damaged by things like theft, vandalism, severe weather or hitting an animal, and collision coverage, which pays for damage caused by crashes. 

Despite the name, though, full coverage doesn’t cover everything. You may want to consider optional endorsements like gap insurance and roadside assistance when insuring your Porsche. Gap insurance, which is available from most major insurers, covers the difference between your outstanding loan balance and your insurance payout if the vehicle is totaled or stolen while you still owe a significant amount on your loan. Roadside assistance is an affordable add-on for many full coverage policies and could add value to your policy. 

Of course, if your goal is to reduce ownership costs, you may have the option of purchasing the minimum coverage required by your state’s laws. But in most cases, insurance professionals advise against only carrying minimum coverage. If you’re struggling to balance costs with coverage, you may want to speak with a licensed insurance agent about the best coverage package for you. 

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze November 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $50,000 property damage liability per accident
• $100,000 uninsured motorist bodily injury per person
• $300,000 uninsured motorist bodily injury per accident
• $500 collision deductible
• $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually. 

These are sample rates and should only be used for comparative purposes. 

Model: To determine cost by vehicle type, we evaluated our base profile with the following vehicles applied: Porsche 718 Boxster, Porsche 718 Cayman, Porsche Cayenne and Toyota Camry (base).