The Best Auto Insurance for Porsches

As America’s largest insurer, State Farm is a reliable choice for insuring all types of vehicles, including Porsches. The company’s balance of availability, flexibility, discounts, and customer service make it the best overall option for insuring your Porsche.

Components of Porsche Coverage

State Farm provides best-in-class insurance coverage for luxury vehicles. You can construct your own coverage, with the following recommended for Porsche owners:

• Liability insurance: Nearly every state requires minimum liability coverage to cover property damage and medical expenses for others after an accident where you are at fault. You’ll want to purchase much higher than state minimum limits if you have enough assets to own a Porsche.
• Comprehensive and collision insurance: Collision and comprehensive coverage pay for damage to your Porsche. Collision covers damage from an at-fault accident, while comprehensive covers damage from natural disasters, theft, or other non-collision incidents like vandalism. You’ll want to purchase high limits for your Porsche since it is so expensive to fix or replace. In fact, for a 2020 911 Coupe, repairs cost an average of $6,701, with an additional $8,858 in maintenance fees.¹
• Uninsured motorist coverage: This coverage protects your vehicle and injuries if the other driver in an accident doesn’t have enough insurance to cover your losses. Uninsured motorist property damage coverage, in particular, is crucial for Porsche owners, since you can’t count on other drivers having sufficient coverage for your valuable car.
• Personal injury protection (PIP) and/or medical payment coverage: These coverages cover medical bills for you and your passengers, no matter who is at fault. Every car owner should purchase this coverage.
• Towing and roadside assistance: When your Porsche needs towing, jumpstarts, or a locksmith, State Farm ensures you will get the support you need.

State Farm’s baseline sports car insurance should meet the needs of most Porsche owners.

Save Based on Driving Habits

Your Porsche probably isn’t the only car you own. If that’s the case, you may put fewer miles on it, unlocking potential discounts. Tracking your driving and being smart about the way you drive can help you save big on your State Farm premiums.

The average car owner in the United States drives 13,476 miles per year, according to the Federal Highway Administration.² That’s 37 miles a day!

If you drive significantly less than that, you’ll qualify for up to a 30 percent discount on your auto insurance through State Farm. If you drive your Porsche only occasionally, you should sign up for Drive Safe & Save. Here’s how it works:

1. Download the Drive Safe & Save app.
2. Enroll in the program through the app.
3. Wait to receive a Bluetooth beacon from State Farm.
4. Install the Bluetooth beacon in your Porsche.
5. Track your driving for two weeks.
6. State Farm will provide you a discount on your premium based on your driving habits.³

Not only can you save based on miles driven, but also based on your driving habits like speed and acceleration. State Farm calculates your discount based on new data at each policy renewal. Note that this discount is not available in the state of California.

Safety Features Discount

Car insurance for a Porsche is expensive, but State Farm saves you money by discounting your premiums based on features your vehicle already has.

Newer Porsches like the Porsche 911, the Porsche Panamera, and the Porsche Cayenne come with modern safety features that reduce both the likelihood and the severity of accidents, including the following:

• Stability control: This feature kicks in if the car loses traction.
• Lane Keep Assist: This system alerts you if the car drifts out of its lane.
• Porsche Side Impact Protection System (POSIP): These are curtain airbags on the sides of the car.
• Porsche Active Safe (PAS): This feature warns you if you are approaching a dangerous obstacle that may cause a collision.⁴

These features help protect you and the people you care about. Not only are safety features smart to have in the event of an accident, but they can also help you save on your State Farm average cost of insurance. Report all the safety features of your Porsche and you’ll earn a safe vehicle discount.

The discount applies to after-market safety add-ons such as anti-theft devices and adaptive headlights as well as original equipment. Learn more about how to lower your insurance premium.

If you or a family member are in the military, then you could have access to USAA’s best-in-class coverage for luxury cars like Porsches.

Classic Car Insurance

Classic car insurance is important to have if you own a vintage or restored Porsche. Typical car insurance takes factors like age, depreciation, and mileage into account when assessing the value of a damaged car. However, a regular car insurance policy doesn’t tell the full story with a classic car, which may contain modifications and a history that make it worth far more than its depreciated value. In other words, classic cars do not depreciate in value the same way as standard cars.

USAA’s dedicated classic car insurance team partners with American Collectors Insurance to provide great service and pricing for vintage Porsche owners. The company’s classic car insurance includes the following:

• Agreed-value coverage: You and your insurance agent will assess your car’s value based on condition, rarity, and features — depreciation is not factored in. This process ensures that you will receive the full value of your car in the event of a covered total loss.
• Mileage plan: Most owners of collector cars don’t drive them often. USAA’s classic car insurance offers tiered mileage plans that reduce costs.
• Automatic coverage: USAA covers vehicles you’ve added to your collection for up to $100,000 for 30 days automatically, ensuring there is no gap in your coverage.

There’s no better option for insuring your vintage or restored Porsche.

Loyalty Discounts

USAA rewards loyalty in its membership in multiple ways. That loyalty is reflected back — the company’s customer retention is 96 percent, among the highest in the industry⁵. If you stick with USAA for three or more years, you’ll earn a loyalty discount of up to 10 percent on your future premiums.

The same discount applies if your family has had a USAA membership for at least three years. In that case, family members of policyholders can apply for a discount on their first individual auto insurance policies as long as they are under 25 and have clean driving records. Porsche owners who plan to stick with a company long-term and want their family to save will love USAA’s loyalty discounts.

Protect Your Boats and Aircraft

Your Porsche may not be the only luxury mode of transportation that you own. If you own a boat or a personal aircraft as well, you can save money by bundling insurance coverages with USAA.

• Aviation insurance: Aviation insurance through USAA’s partner Falcon provides coverage for single-engine, light jet, and experimental personal aircraft.
• Boat insurance: Boat insurance covers watercrafts worth over $150,000, with no deductible or depreciation on most covered losses.

Consolidate your coverage with USAA to unlock bundling discounts of up to 10 percent. Best of all, all your policies will live under a single insurance provider, making policy management and customer support a breeze.

If you consolidate multiple types of insurance coverage with Liberty Mutual, you’ll earn some serious discounts without sacrificing quality protection for your Porsche.

Bundle Your Policies

You’ll qualify for significant savings by consolidating your coverage for other vehicles or assets with Liberty Mutual. Liberty Mutual is a full-service insurance provider that underwrites policies for the following categories:

• Motorcycles
• Boats and watercraft
• ATVs
• Recreational vehicles (RVs)
• Homeowners
• Renters
• Condos
• Landlords
• Mobile homes
• Floods
• Small businesses
• Large businesses
• Life insurance
• Accidents
• Critical illness
• Identify theft
• Pets
• Tuition

Liberty Mutual allows you to bundle two or more of these insurance policies to earn a multipolicy discount. Your exact savings depend on your location and needs, but Liberty Mutual claims you will save at least $947 per year by bundling home and auto policies.

Not only will you save money by bundling, but you’ll also avoid the hassle of managing multiple policies under different providers. Additionally, bundling can make the claims process easier by providing a single point of contact, no matter which policy pays out your claim.

Umbrella Coverage

You should definitely consider Liberty Mutual’s umbrella insurance if you own a Porsche and insure it with the company. Umbrella insurance covers additional liability over and above the limits of your vehicle and home insurance policies.

Umbrella insurance is best for those with significant assets that someone could take away. It kicks in when you exceed your other policy limits, or during a situation that your other liability policies may exclude, like libel or false arrest. Porsche owners may own other valuable assets and need to protect themselves.

Liberty Mutual’s umbrella insurance starts at $1 million in coverage, and if you bundle umbrella insurance with your other Liberty Mutual policies, you’ll earn a discount.

Paid-in-Full Discount

Liberty Mutual is the only company on our list that offers a paid-in-full discount. This means you will earn a deduction on your premium if you pay it in one or two payments, rather than in three or more installments. If you can afford to front the cash, this discount is a great way to save on your Porsche’s insurance without sacrificing quality.

You may not have heard of Acceptance, but its name says it all—  the company accepts drivers with spotty driving and credit histories.

Get Covered No Matter Your Driving History

Acceptance specializes in covering drivers with incidents on their records, such as DUI/DWIs, moving violations, or multiple at-fault accidents. Many other insurance companies outright reject such drivers without consideration, especially if the driver needs an SR-22 or FR-44 form.

Rest assured that Acceptance will work with you to offer a policy that is both affordable and comprehensive. Not only that, but the company will also provide tips for improving your driving, which can lower your premiums when it’s time to renew. Be prepared to pay more initially if you have a record, however; high-risk drivers pay up to 69 percent more than those with spotless driving histories⁶.

Insure Non-Owner Porsches

You may not own your Porsche outright. For example, perhaps you are borrowing a luxury car from a family member who doesn’t drive it often. Insurance companies consider such situations nonstandard, meaning that they may refuse to cover you. Rather, you’d need to establish that you have an insurable interest — that is, a level of ownership — in your borrowed Porsche.

Fortunately, Acceptance offers non-owner insurance that will cover you in those situations. Such policies typically provide basic liability coverage to protect you and your assets in the event of an at-fault accident. The details depend on your exact situation, so reach out to the company and speak to an expert in non-owner policies.

TicketProof Towing

Acceptance’s roadside assistance is one of the best in the industry. Towbusters Plus, its add-on service, provides jumpstarts, tows, spare tire installations, and gas, oil, and coolant delivery. Acceptance also offers the regular Towbusters plan. Here is what each plan includes: