Insurance Costs - 986 Forum - The Community for Porsche Boxster & Cayman Owners

jci-joe · 02-20-2007, 05:29 PM

One thing I did not check on before buying my 99 box was the cost of insurance. I was shocked when I got the quote. $48 per month. I was expecting in the $100-$150 range. I am 38 years old with no points (I didn't say no tickets, that sales training pays off). This is a 3rd vehicle and I have it listed as an occational driver.

Wondering what others pay.

bmx672 · 02-20-2007, 05:51 PM

I'm 38 as well... I to was surprised at the low quote... about the same as you! I've been with the same co for 22 years with only 1 ticket!!!

j.fro · 02-20-2007, 06:27 PM

I'm also 38! I pay about $60/month with 250/500 coverage 2000 986 S. A couple of years ago I had an 04 Dodge truck and was looking at a 99 Boxster. I figured the insurance would keep me in the truck. I called Geico and they quoted me about $50/mo with 25/50. The truck was considerably more! I asked the agent about this and she said that if I went into the side of somebody's house with the truck, I would do way more damage then with the little Porsche...thus the difference. At 38, I suppose we're outside of the "generally reckless" range. I would also guess that Porsche owners overall are more likely to be very carefull with their hard earned babies.

racer_d · 02-20-2007, 09:34 PM

Mine's about $500/year on my 2000, nonS. Mid 30s, family man. 3rd car. Cost was only $30/6mo more than my 911sc. That car was rated as "standard performance".. as opposed to high performance. Cant remember what bracket the Boxster falls into. They know folks like us aren't out street racing, have jobs and are more responsible. That said, the same 911 that cost me $500/year in VA cost me $1800/year in NJ

Rodger · 02-21-2007, 02:49 AM

I have two cars, the '00 Boxster S added about $50/month. Funny thing is, whether I drive it zero miles or 10,000 miles, it's still the same price. I figured they would cut me a discount for not driving it all winter.

Boxtaboy · 02-21-2007, 02:58 AM

Dang. I'm with Geico too, but they're charging me $1400/year with 250/500 coverage. 01 Boxster, no prior accidents or tickets. Mid-30s age bracket. Guess NYC adds a premium.

ohioboxster · 02-21-2007, 03:29 AM

Ohio, 37, no points 52.00 a month zero deductible on comp 500 coll. , towing and a rental car. My Explorer 60.00 a month, figure that one

Chills · 02-21-2007, 05:09 AM

I'm 30 years old and I pay $36.50 a month for the Box's insurance. Full coverage, towing, rental reimbursement, the works. Gotta love USAA.

Brucelee · 02-21-2007, 05:14 AM

What others pay won't help you.

Too many variables for a valid comparison.

Suggest you price shop in your locale.

aren040 · 02-21-2007, 08:14 AM

Too many variables for an accurate measure.

Location, credit score, age, coverage type, if you have a family, multiple policy coverage, all play a big part. There is a lot more I am sure but that's all I could think of right now.

I on the other hand pay less per month for my Boxster than I did for my WRX.

YellowJacket · 02-21-2007, 08:26 AM

At 24, I pay $75/mo. for 500/500 primary vehicle, including discounts for married, multi-car, multi-line. No tickets, but an accident about 2 years ago. My next bill should have the accident dropped off, and I'll be turning the magical 25 years old, so it should go down a bit more.

I asked my agent why this car is significantly cheaper to insure than any of my BMW's were. He said that Porsche's are rated as one of the cheapest cars to insure due to the types of people who own them. Repair costs are high, but owners tend to be older, more mature, more courteous, etc. On the other hand, BMW is one of the most expensive due to primarly younger, less mature, more "spirited" drivers + the high cost of repairs.

Anyway, as previously stated, too many variables and not enough sample to draw broad conclusions, but enough andectodal evidence to say that Boxsters are fairly cheap to insure, I'd say!

RandallNeighbour · 02-21-2007, 08:43 AM

Living in Harris County, Texas (Houston) sucks when it comes to insurance. I pay 1100 a year for full coverage an I have not had a ticket in 12 years, nor an accident in 5 years. I also have good credit. However, I was amazed that my boxster costs a few bucks a year less than my Lexus LS400, which is 2 years older than my Porsche.

thomschoon · 02-21-2007, 08:57 AM

We pay around $300 per month for 3 cars, two P-cars and the wifes Caddy SUV, when we moved to Philly from DC we figured we would get a nice drop, it actually went up another 20%

You really cant compare between people because your zip code could make a drastic difference as well as your history and what extras you add on such as rental car etc. In the end it is just part of the cost of doing business and not really worth worrying about.

aren040 · 02-21-2007, 10:10 AM

Quote:

Originally Posted by YellowJacket

At 24, I pay $75/mo. for 500/500 primary vehicle, including discounts for married, multi-car, multi-line. No tickets, but an accident about 2 years ago. My next bill should have the accident dropped off, and I'll be turning the magical 25 years old, so it should go down a bit more.

I asked my agent why this car is significantly cheaper to insure than any of my BMW's were. He said that Porsche's are rated as one of the cheapest cars to insure due to the types of people who own them. Repair costs are high, but owners tend to be older, more mature, more courteous, etc. On the other hand, BMW is one of the most expensive due to primarly younger, less mature, more "spirited" drivers + the high cost of repairs.

Anyway, as previously stated, too many variables and not enough sample to draw broad conclusions, but enough andectodal evidence to say that Boxsters are fairly cheap to insure, I'd say!

Not too sure about that. Take me for example.

I am 25, married, no kids, and have the Boxster insured as a daily 70% me and 30% the wife (driving), I rent my place for the time being, and I have no speeding tickets and no accidents on my record. I have tow and car rental in my coverage and my coverage is pretty much topped out. I pay about 180 a month for that here is sunny Southern California.

See the giant price difference there...? There are a lot of factors that account for that difference.

porsche986spyder · 02-21-2007, 10:19 AM

I have Gieco and pay $113/month. Full coverage. Allot of it has to do with how far you travel in your car every day. Like to and from work. The closer I moved to work the lower my rates went down. Also, I hate to say this but they check your credit history. Something they don't tell you. Doesn't seem fair that they should base your rates on your credit history. I guess they think they may not get paid or will get paid late if your credit is bad.

FrayAdjacent · 02-21-2007, 11:05 AM

When I was about to pounce on a Boxster, I called my insurance co (USAA) and asked what my insurance rate would do.

Going from a 2003 Hyundai Tiburon to a 2001 Boxster, my rate went DOWN about $90/6 months. I pay about $110 a month, which includes my renter's insurance, and my 911 which is an 'occasional driver', even though she's been down and out for a long time.

Rates on the Boxster are probably lower, since there's not a ton of teenagers out there smashing them up.

BTW, I'm 30 with no tickets (on my record, that is!) and no wrecks. NEVER had a claim.

alikhan78 · 02-21-2007, 12:32 PM

I'm with Geico as well, I'm paying about $1200 a year for 250/250. I'm 28, my wife is also on the coverage..

Quote:

Originally Posted by Boxtaboy

Dang. I'm with Geico too, but they're charging me $1400/year with 250/500 coverage. 01 Boxster, no prior accidents or tickets. Mid-30s age bracket. Guess NYC adds a premium.

MNBoxster · 02-21-2007, 01:47 PM

Hi,

Our Boxster, insured as an Occasional Driver w/ agreed upon value through Leland-West. 5k mi./yr. (never reached this yet), No Tix or Accidents, Ages 43/53 - pay $244/yr.

Daily Drivers ('04 Jaguar S-Type (hers), '95 Honda Passport 5-Spd. LX (mine)), Full 500/500 coverage ($1k deductible) on the Jag, Liability only on the Honda (GEICO) - $825/yr.

As Bruce stated, there are too many variables, such as Demographic (age, marital status), Driving Record, Zip Code, Credit Rating, etc. that any direct comparison is virtually impossible. But, if you put in the time, you can save a bundle. Also, shop it every period, things can change dramatically in 6 mos. time. Hope this helps...

Happy Motoring!... Jim'99

bosxter7 · 02-21-2007, 02:40 PM

im paying 3500 a year witch was super luckey because the 5 other companies i went to ranged around 8700$-14000$ a year and then i found one about a hour away with that low price im paying now :dance:

Bavarian Motorist · 02-21-2007, 02:58 PM

18 here, accident history, couple points, daily driver, and I'm afraid to look at what I pay every month.