Biohazard

If you have had any kind of claims or anything insure that they are listed properly. I am in process of switching carriers to Erie. Some of the information was listed wrong for me and I had to get corrected. With the listed information it made my rates almost double what it should be with the correct information. For instance if you had an accident and they see the accident verify fault is correct. Having it listed at-fault when you were not has a big change in premiums.

malba2366

Where in NY are you, and what is your previous driving record? By 27 your rates should not be drastically different than a 35 or 40 year old (maybe a 15-20% difference). I am paying 2400 a year with 1000 ded/full glass on a 2024 Targa GTS. I am one hour north of NYC.

Migro

I’m on Long Island. I had one not at fault claim this past year. Though I wouldn’t think that would be skyrocketing the quotes?
Can I ask how old you are?

vasmir

Another thing to consider is status of the car and miles/year. If you're not driving for months at a time, like during the winter or while you're on extended travel, you can get a significant discount while the car is in storage. May be the case for the GT3 owners you talked to?

If you're eligible to bank with them, I've found USAA to often be the cheapest insurance.

Icegrill

cliffs notes: why please?

2thHappy

Your age and being in NY are driving the cost to insure you. Do you have other cars? If not then this car will be designated as a primary vehicle.

2thHappy

Ask those people you hear from who they use?

AlterZgo

At 27 yrs old, any insurance company you go with is going to be very expensive. But honestly, $5K/yr for a $180K super high performance car is very cheap for a 27 yr old. To give you an idea, when I was 25 yrs old I bought a used 1991 Nissan 300ZXTT for about $27K. This was back in 1994. My insurance on that car was $4000/yr. In 2023 dollars that would be about $8,100/yr insurance for a $55,000 car. So yeah, $5,000 per year is not bad at all for you, IMO.

AlterZgo

It's obvious why insurance costs have skyrocketed:

• Inflation - cost of cars, parts, labor, etc. have all gone up a lot so insurance to fix cars, replace cars, etc. has also gone up. My 2021 Carrera S had a base price of $117K while a 2024 Carrera S is now $131K. It's just going to cost more to insure stuff now than even 2 or 3 yrs ago.
• Injury claims have inflated massively for a number of reasons - cost of medical care has gone up and jury verdicts have gone insane because many of the older retired people who used to go to jury duty stopped showing up first because of covid, then because they continued to not show up. Now there are younger less conservative people on juries who have no idea of the value of money and think $1 million is nothing. Look at some of the comments on the latest near airplane disaster where the door or something blew off an AK Airlines flight. Vast majority of people in the general public think the passengers all were mentally traumatized and are owed hundreds of thousands of dollars. Well, what happens when jury verdicts go nuclear? Your insurance goes up.

Those are just a few of the main drivers on why car insurance has skyrocketed and same goes for homeowners insurance - it's super expensive to build homes, repair homes, replace home appliances and parts, fixtures, flooring, drywall, studs, whatever. Inflation and supply chain shortages, record low unemployment driving up wages, etc. continues to impact us in many ways. In July 2021, my upstairs AC unit died. It needed a coil or something that would've cost maybe $1500 to fix but that part was backordered for at least 2 months. No way I'm lasting a summer in Arizona with no AC so I had to bite the bullet and get a whole new AC unit for $10k. Such is life.

Izzone

Raise you deductible as high as possible,i self insure damage and it keeps the carfax clean

Unless catastrophic i just fix myself outside of insurance..ive had a few bloopers to fix

$5800/yr / 5k deductible
18 gt3 touring
23 cayenne gts
24 targa gts
24 gmc 2500

txpackers

I’ve had all my insurance with State Farm for over 30 years and across 4 different states. This includes cars, homes, umbrella, personal articles, etc. I do get some extra discounts for that “loyalty”, but I was surprised how much they were going to charge to add the Porsche. I don’t recall the actual numbers, but it was high enough to get my attention to look at other options.

I didn’t want to change all my other insurance since it’s very hard to find any company that will insure homes in CA now. State Farm won’t even write new policies for homes in CA anymore. My agent said they won’t drop me, but if I ever buy a new home here they won’t insure it.

Back to the Porsche. I checked all the companies suggested by others: Geico, Hagerty, AAA, Allstate, Progressive, and Porsche. Porsche by far had the lowest rates and the best coverage. Just renewed with them.

For the OP; your cost is due to your age and location as others have said. That’s why it’s always best to check insurance rates before you buy a new vehicle. Very easy to do, especially if you have the VIN. If you want the car, you’ll have to pay or move somewhere else that has lower rates. You don’t mention if you own a home or are renting. Adding a car to home insurance or renter’s insurance should get you a discount on both policies.

Good luck.

tmslc

i am in the process of having to change carriers as well. previous carrier would cover my 22 but not my 24 due to the value difference. luckily we can bundle with home and umbrella and will net out if not be slightly less.

the one thing i did notice and people may also want to be aware of ... on the property side i was at $50K coverage ... assume i hit some fat **** driving a new honda civic type-r while he was eating Cheetos working for uber eats and i total his car, insurance would only cover up to $50K and then i pay the rest. **** that.

so, i moved up to $100K so i at least have a chance of not having to pay out of pocket. something to consider.

tmslc

that is one way to do it. i was thinking i would have to do something similar but lucky ran into a friend i went to high school with at our local grocery store ... the dude runs an insurance agency! he found some great coverages running our stuff thru over 17 carriers. we totally lucked out. ironically, my wife driving record is the one that raised our rates.

blackland

I have USAA in Georgia, $1700 per year for a 2022 C2, $1K deductible. I looked at the Porsche insurance and it was within a few dollars of what USAA is charging me.

Crusje

Mid 30s. Long Island. Clean history. 100/300 1500 deductible. 1000/6 months quoted. Similar to my x5 and giulia. It'd be 2900ish for 6 months for 3 cars. Wife was in a fender bender 4 years ago not at fault.
This is double than when I was in Albany, but still less than Queens.