Porsche is one of the best-known luxury car brands in the world, having earned a reputation for its stylish, high-performance vehicles. From small sports cars such as the 718 Boxster to the spacious Cayenne, which also comes in a hybrid, there is a Porsche to suit every taste, but perhaps not every wallet.

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One of the costs associated with owning a Porsche is what you pay in premiums for your car insurance. But while luxury cars can be more expensive to insure than other types of cars, a little research may go a long way when trying to find the most reasonably priced policy. To help, Bankrate gathered sample quotes for several Porsche models and body styles, which may help give you an idea of the average costs involved with owning a Porsche.

Models included in this review:

  • Porsche 718 Boxster
  • Porsche 718 Cayman
  • Porsche Cayenne
  • Porsche Panamera

How much does it cost to insure a Porsche?

The average cost of full coverage car insurance in the United States is $1,771 per year. Because car insurance premiums are based on your specific rating factors, the price you pay may be higher or lower. Your driving record, where you live, how old you are and the coverage types you choose are all used to determine rates for auto insurance.

Each car insurance company sets its own rates, which is why the cost for auto insurance varies by carrier. The make and model of the car you drive also makes a difference. The base price, safety features, cost to repair, price of parts and likelihood of being in an accident all contribute to the cost to insure each Porsche model.

  • 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 car insurance premiums because claims costs might be higher.
  • Safety features: Many Porsche models include front and knee airbags, as well as the Porsche Side Impact Protection System (POSIP) standard. Some models also include curtain airbags. The Porsche Active Safe (PAS) system is available on some models and can help reduce the damage from or prevent a forward collision. Safety features can help lower the cost of car insurance by reducing the likelihood of damages and injuries.

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

The Porsche 718 Boxster offers several safety features, including an anti-theft system, POSIP, anti-lock brakes and dual front and knee airbags. At a base price of $65,500, the 718 Boxster comes in a coupe or cabriolet trim option. With 300 horsepower and the ability to go from zero to 60 mph in just 4.9 seconds, it is impressive that the 718 Boxster has the cheapest car insurance rates of the Porsche models we reviewed.

Porsche 718 Boxster car insurance Average annual premium
Minimum coverage $416
Full coverage $2,307

Car insurance for Porsche 718 Cayman

The 718 Cayman is one of the sportiest cars that Porsche offers. With a base price of $63,400 and similar features to the Boxster, the Cayman also has similar rates for car insurance, costing just a bit more than the Boxster.

Porsche 718 Cayman car insurance Average annual premium
Minimum coverage $427
Full coverage $2,381

Car insurance for Porsche Cayenne

The Porsche Cayenne comes in a coupe or SUV, starting at $72,200 and increasing up to $173,800 for the Turbo S E-Hybrid coupe. The Cayenne comes with more safety features than the 718 models and the Panamera, though it has a higher base price, depending on trim package. The pricier Cayenne typically commands higher costs of car insurance, likely due to its higher price and performance features.

Porsche Cayenne car insurance Average annual premium
Minimum coverage $489
Full coverage $2,363

Car insurance for Porsche Panamera

Ranging from $92,400 to $200,200, the Porsche Panamera has sedan, executive and Sport Turismo trim options. The higher trim packages will likely cost more to insure than the sedan models because of the base price, price for parts and greater horsepower. The sedan has a maximum horsepower of 325, while the Sport Turismo boasts 690 horsepower.

Porsche Panamera car insurance Average annual premium
Minimum coverage $476
Full coverage $3,302

Cheapest car insurance companies for Porsche

Car insurance rates also vary by carrier, since each car insurance company sets its own rates. 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

Car insurance company Porsche 718 Boxster Porsche 718 Cayman Porsche Cayenne Porsche Panamera
Amica $1,520 $1,571 $1,711 $2,359
Erie $1,177 $1,596 $1,522 $2,222
Geico $3,021 $2,866 $2,245 $3,068
State Farm $1,647 $1,874 $1,896 $2,384
USAA $1,809 $1,962 $1,676 $2,698

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:

  • Air bags: 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.
  • Stability control: Some Porsche models come with this feature. Stability control kicks in automatically if the car loses traction. This safety feature could reduce car insurance premiums by reducing the likelihood of accidents.
  • Lane keep assist: Offered on the Cayenne and Panamera, this feature alerts the driver if the car is moving out of its lane. This feature can help reduce accidents, which may lower the cost of insurance.

Other car insurance coverage for Porsche

If you are shopping for car insurance for a Porsche, cost is not the only feature to consider. Porsche owners may want to consider purchasing more than state minimum coverage when insuring their vehicle. While full coverage is not required by law, your lender will likely require that you carry a full coverage policy if you have a loan or lease. Additionally, the extra cost may be worth it if you are involved in an accident and your Porsche is damaged.

Full coverage car insurance includes comprehensive coverage, which provides coverage for damage to your vehicle caused by things like theft, vandalism, storm damage or hitting an animal. You’ll also have collision coverage if you buy a full coverage policy, which covers damage to your vehicle if you collide with something, like a car, building or stationary object.

You might also want to consider some optional endorsements for your Porsche insurance policy. If you have a loan or lease, gap insurance could be a good option. This optional coverage is designed to pay the difference between your loan or lease amount and the depreciated cash value amount of your new vehicle if it is totaled or stolen. If you travel often, roadside assistance might be a helpful endorsement to add. Although specifics vary by company, most roadside assistance endorsements will pay for your vehicle to be towed to the nearest repair facility. You may also have coverage for service calls like for a locksmith or tire change.

Owning a Porsche is exciting, but it also means that you need to consider your insurance needs carefully. If you are not sure what coverage to purchase, talking with a licensed insurance agent might be helpful.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 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 2019 Porsche of the following model types, commute five days a week and drive 12,000 miles annually:

  • Porsche 718 Boxster
  • Porsche 718 Cayman
  • Porsche Cayenne
  • Porsche Panamera

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