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The three best states to buy and insure a Porsche Cayenne

Insuring a used Porsche Cayenne can be an expensive business, especially if you live in Michigan, Louisiana, or Georgia. In Michigan and Louisiana, insurance alone can cost you up to $3,000. The average cost of insuring it in South Dakota is $1953, which is a whopping 13% of the median price of the car. In Michigan, too insuring the Cayenne will cost you an average of $ 2727 per year, which is 14% of the median price.

The United States spends, on an average, $1856 to insure a used Cayenne on an annual basis. This is not very high, considering that the Cayenne is a luxury car. There are some states where you can buy and insure a used Porsche Cayenne without the cost of insurance burning a hole in your pocket.

If we consider insurance costs as well as the price of the car, the three best states to buy and insure a used Cayenne are –

1.       Indiana –

As of November 28, 2013, the median price of the Cayenne in Indiana is $22,990, and the average yearly insurance rate is $1,245, i.e., 5% of the median price. The used car data for the year range 2005 – 2012 shows that Hoosiers enjoy lower insurance rates, as well as relatively lower median prices. This makes Indiana one of the least expensive states to buy and insure a Cayenne.

2.       Florida –

If you live in Florida, you can buy a used Cayenne for a median price of $30,992. This seems much higher than the median price in other states, but Florida makes up for this fact with a considerably low insurance average. The average yearly insurance rate for the Cayenne in Florida is $1364.

3.       Illinois –

In Illinois, the average yearly insurance rate is $1541. If you buy the Cayenne from Illinois, you will have to pay a median price of $32,899. The insurance amounts to 4% of your total expenses.

You still save on insurance, considering that the insurance rates exceed $2,000 in several other states.

If you live in a state where the insurance average is very high, there are some tactics you can use to lower your premiums. Buying an anti-theft device for your car is the first step in this direction. This may help you convince your insurance company to lower your premium.

Average Yearly Insurance Premium $1,860
Porsche Cayenne MSRP $73,850
Estimated Monthly Income to Afford a Porsche Cayenne Car including Insurance $1,340

Porsche Cayenne - Average Insurance Price by Segment

Male $2,650
Male Married $2,090
Female $1,540
Female Married $1,500
Teenage Boy $15,660
Teenage Girl $8,530

Expensive States for Insuring Porsche Cayenne

RankStateAverage Insurance of Porsche CayenneMSRPEstimated Monthly Income to Afford a Porsche Cayenne including Insurance Cost
1 Louisiana $3,100 $73,600 $1,360
2 Georgia $3,000 $70,700 $1,310
3 Michigan $2,900 $73,600 $1,360
4 Oklahoma $2,600 $73,600 $1,350
5 Montana $2,400 $73,600 $1,350
6 Connecticut $2,300 $73,600 $1,340
7 Rhode Island $2,200 $72,900 $1,330
8 Missouri $2,200 $73,600 $1,340
9 Hawaii $2,200 $78,800 $1,430
10 California $2,200 $72,000 $1,310

Cheap States for Insuring Porsche Cayenne

RankStateAverage Insurance of Porsche CayenneMSRPEstimated Monthly Income to Afford a Porsche Cayenne including Insurance Cost
1 Maine $1,100 $73,600 $1,320
2 Iowa $1,300 $73,600 $1,330
3 Indiana $1,300 $73,600 $1,330
4 North Carolina $1,300 $70,700 $1,280
5 Ohio $1,300 $75,800 $1,370
6 Florida $1,400 $75,200 $1,360
7 Idaho $1,400 $89,100 $1,600
8 Washington $1,400 $78,800 $1,420
9 Colorado $1,500 $73,600 $1,330
10 New Hampshire $1,500 $73,600 $1,330

Porsche Cayenne - Remaining States under Study

RankStateAverage Insurance of Porsche CayenneMSRPEstimated Monthly Income to Afford of Porsche Cayenne including Insurance Cost
1 South Carolina $1,500 $73,600 $1,330
2 Vermont $1,500 $73,600 $1,330
3 Wisconsin $1,500 $70,700 $1,280
4 Arizona $1,600 $73,400 $1,330
5 Illinois $1,600 $77,300 $1,400
6 Mississippi $1,600 $73,600 $1,330
7 New York $1,600 $65,400 $1,190
8 Virginia $1,600 $73,600 $1,330
9 Delaware $1,700 $73,600 $1,330
10 Kansas $1,700 $69,600 $1,260
11 Nebraska $1,700 $73,600 $1,330
12 Oregon $1,700 $77,300 $1,400
13 New Mexico $1,800 $73,600 $1,340
14 Nevada $1,800 $73,600 $1,340
15 Utah $1,800 $73,600 $1,340
16 Alaska $1,900 $77,300 $1,400
17 Alabama $1,900 $75,800 $1,380
18 Massachusetts $1,900 $75,100 $1,360
19 Maryland $1,900 $73,600 $1,340
20 Pennsylvania $1,900 $73,600 $1,340
21 Tennessee $1,900 $73,600 $1,340
22 Minnesota $2,000 $73,600 $1,340
23 North Dakota $2,000 $67,700 $1,230
24 New Jersey $2,000 $81,800 $1,480
25 Texas $2,000 $74,300 $1,350
26 Arkansas $2,100 $73,600 $1,340
27 Kentucky $2,100 $72,100 $1,310
28 West Virginia $2,100 $73,600 $1,340
29 Wyoming $2,100 $63,300 $1,160

Porsche Cayenne Models Comparison

Model Style Cylinders MSRP Average Premium of Porsche Cayenne models Est. Monthly Income to Afford a Porsche Cayenne including Insurance Cost
Cayenne 4 Door Utility 6 cyl. $73,900 $1,790 $1,340
Cayenne S AWD 4 Door Utility 8 cyl. $73,900 $1,710 $1,340
Cayenne Turbo 4 Door Utility 8 cyl. $73,900 $2,140 $1,350

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