Porsche Panamera car insurance: cost and quotes

How much does it cost to insure a Porsche Panamera?

With a starting MSRP in the six-figure range, the Porsche Panamera costs a nice chunk of change to purchase — and the expenses don't stop once you drive it off the lot. Bankrate analyzed average car insurance rates for the Porsche Panamera, provided by Quadrant Information Services, and found that a full coverage policy costs $5,107 per year, or $426 per month. That's 91 percent more than the national average cost of full coverage, which is $2,671 annually. Minimum coverage rates for the Panamera are much closer to the national average: this kind of policy only costs $748 per year, compared to the nationwide average of $806.

It's not just the high sticker price that makes the Panamera expensive to insure. Things like a vehicle's repair costs, safety features and crash ratings all play a part in determining your insurance premium.

Cheapest car insurance companies for a Porsche Panamera

Despite what's advertised, there's no single car insurance company that's cheapest for all drivers. Each car insurance company has its own method of calculating your premium, which is why quotes vary across providers. To find the cheapest Porsche Panamera car insurance companies, you'll need to compare a few quotes. The table below lists average rates from some of the most affordable car insurance companies for the Panamera, based on Bankrate's analysis of average rates. While they're not exact quotes, they can help point you in the right direction.

How much does it cost to insure my Porsche Panamera?

Porsche Panamera full coverage car insurance costs are 91 percent more than the national average, but the companies listed below might offer you a better rate:

Other car insurance coverage for a Porsche Panamera

Your car insurance policy will need to meet your state's minimum requirements. But, there's more to your policy than what your state mandates. Building out your car insurance policy with endorsements, or add-ons, will raise your premium, but also provide valuable financial protection. For the Porsche Panamera, consider these coverage types:

• Comprehensive coverage: With comprehensive coverage, you can file claims for a slew of non-accident-related losses like vehicle theft, vandalism and weather damage.
• Collision coverage: This pays to fix your vehicle after a covered accident, even if you are at fault.
• Uninsured/underinsured motorist insurance: If you're hit by a driver who doesn't have any or enough insurance to cover the cost of the accident, this kind of coverage can help with your accident-related bills.
• Gap insurance: This can be helpful for drivers with auto loans. If your new vehicle is rendered a total loss, gap insurance can cover the difference between what you get from your insurance company and what you owe on your loan.

How to get a Porsche Panamera car insurance quote

You can get an insurance quote for your car online, over the phone or in person, depending on the insurer. If you're in the market for a new vehicle, comparing quotes before you sign on the dotted line can help you determine how different models would fit into your budget. Here’s a step-by-step guide to gathering and comparing quotes:

• Gather personal details: You’ll likely be asked to provide your name, address, date of birth and driver’s license number, as well as the make, model and year of your car — and potentially the vehicle identification number (VIN). If you haven't purchased a car yet, you may be able to get sample quotes by providing an agent with the make and model.
• Use online quote tools: To expedite the process of shopping around, you might consider using comparison websites or apps that allow you to get quotes from multiple insurers at once. Alternatively, go directly to insurance company websites and use their online quote tools to receive personalized quotes.
• Provide driver details and mileage: You could be asked for specific details about your vehicle, including add-on features or modifications. You might also need to provide your average annual mileage and how the vehicle is primarily used (e.g., for business purposes or personal use). Additionally, you’ll need to provide accurate information about all drivers who will be covered by the policy, including their driving history, age and relationship to you.
• Review quotes: Compare the quotes you receive, paying attention to coverage options, limits, deductibles and overall cost. Insurance experts also recommend reviewing customer service scores, financial strength ratings, digital tools and customer reviews to get a holistic view of how a carrier will meet your needs.
• Select carrier and apply: Choose the insurance policy that best fits your needs and budget. Complete the application process by providing any additional required information and making your first premium payment.

Frequently asked questions

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. These are sample rates and should only be used for comparative purposes. Your quotes will differ.

If otherwise specified, the base profile has been modified with the following driver characteristics: