TubaFreak

Yikes, and I thought my insurance bump this year was bad. That's interesting about the Porsche stuff. This is the first time I've heard about anything Porsche specific, let alone years and models. Does anyone know why? If anything I would think the 718 would be immune to the crazy jumps with it being such an old platform at this point with relatively basic tech (GT cars perhaps notwithstanding).

jmartpr

You think that's crazy?....mine for the first year was $7500...total rip off by local Insurance Companies because they know they are shielded by Law from stateside competition.

clutchplate

When I asked my current company why my rates increased 40% they said because I moved into a better (more expensive) zip code.

???

They explained if I did ever get into an accident it would probably be with a more expensive car. They have every angle covered and seem to be going for the throat in unison. Look at insurance company stock prices, they're all doing quite well.

cooler2442

Only correlation I've noticed is my friends who are 55+ and have Hagerty usually have insanely low rates. I wonder if Hagerty just believes the older car guys won't be doing stupid stuff or barely drive the cars so they offer lower premiums.

85Gold

Makes my $1800 a year in FL, extremely high insurance state, on my 22 GT4 seem like a bargain. I do know that with all the AL structural parts that it doesn't take much more than a fender bender to total a Porsche. Reminds me of the Elise as it didn't take much damage to total them.

Peter

Christmas50

Some factors used to calculate rates
Where you live
Age of the driver(s)
Accidents, traffic violations etc.
Number of cars
Car symbols(the higher the symbol the more expensive car is to insure)
Milles drive annually
Package deals(home umbrella with same co. etc.)
There is more but I'm not going in to details.

Ksdaoski

Yeah that was noted in the first post ....

Point was the GT4rs increase was substantial and disproportionate to the other vehicles all with the same coverage


Thanks to everyone else who responded

Christmas50

Call you Agent and ask why? Sometimes Ins companies change car symbols on certain cars and price goes up. Also did they ask cost of your car when you added to your policy?

Xxyion

It always blows my mind that some people can find insurance rates for their cars for under 100$ a month. The last time i had insurance that cheap was when i had my 1995 Honda Civic at 50$ a month back in 2008.Ever since then i've been floating around the 100-200$ range for all the cars ive owned. I have a good driving record too. 24 years driving history with only 1 accident which was deemed not my fault. It's annoying too because when i had the GT4, our insurance was combined with our home insurance for "best discount". We had 3 cars and the house with Farmers and the only car that was under 100$ a month was our crappy beater 2004 Altima with 160k miles on it which we have barely any coverage because whats the point, and even then it was still 90$ a month. Granted i live in California so i get thats a big reason for it, but when i see people with 60$ a month for a brand new luxury car, it just always blows my mind.

Christmas50

There is nothing for $60.00 bucks in CA anymore. Even cup of coffee every day ends up more than $60.00. LOL!

Presidential Ins

Rates have gone up significantly over the past year for everyone. There are a bunch of new articles online talking about this. They say it's due to claim payouts and loss ratios above 100% nationwide.

OP, I wish you were a bit closer and lived in Illinois instead lol. I'm an insurance broker and would have loved to help out. I personally pay $390/yr for my GT4 and $400/yr for my 2024 Cayenne. However, I'm 100% certain my rates will go up on my August renewal lol.

Licensed in IL & AZ if anyone is looking for some savings.

Ferrarisimo

Have you ever seen rates go back down?

Presidential Ins

In my 15 years of experience in this industry, never. Unless an at-fault accident or violation comes off the record, but that's a different story. Rates will always go up with inflation and that should be expected. However, what I've seen in the past year has been the worst rate increases I have witnessed.

0-Day

Anecdotal, but I have not seen any significant change in my car insurance rates in the past few years. I just renewed my car policies this week, and it was maybe a 2% increase over the last period. Insurance on my regular GT4 is still less than $100/mo (although I cannot drive it more than 5,000mi per year under the use restrictions that I requested on that policy to save $$$.)

I currently insure 4 vehicles, including the GT4, for about $2700 total annually. All 4 are either sports cars or considered sporty cars. The most expensive car insurance premium on my policy is for a 6 year old daily driver Honda Civic...

The cars are all on policies though State Farm. I get some minor policy discounts on the car policies through them because I also have homeowners though State Farm as well. I have no claims, accidents, or tickets in probably 20 years...

Christmas50

Lucky you! I'm a broker too al dough 90% commercial but all of my personal lines carriers stooped writing mew business since September of last year. CA is very difficult right now because of many carriers exiting market or simply don't want new business, and it looks like is not going to get better any time soon.