About Porsche Car Insurance
When shopping for car insurance for your Porsche, you might be wondering what to expect and what kind of coverage you need. This page will provide you with sufficient information to make an informed decision.
You can compare car insurance rates with MyChoice today to see what rate you can get for your car model.
How Much Does it Cost to Insure Your Porsche in Canada?
On average, it costs around $1,327 per year to insure your Porsche in Canada. The price will vary depending on your Porsche model, year make, region you live in, and driving history.
Here’s how much it would cost you on average to insure your Porsche in the following cities in Canada:
| City | Average Annual Insurance Premium |
|---|---|
| Ottawa, ON | $1,484 |
| Toronto, ON | $2,205 |
| Kitchener, ON | $1,693 |
| Hamilton, ON | $1,710 |
| Mississauga, ON | $2,387 |
| Markham, ON | $2,523 |
| Calgary, AB | $1,559 |
| Red Deer, AB | $1,378 |
| Montreal, QC | $825 |
| Corner Brook, NL | $1,153 |
| Halifax, NS | $1,366 |
| Fredericton, NB | $854 |
How Porsche Car Insurance Costs Compare to Similar Vehicle Brands
When selecting a vehicle, many potential buyers often weigh the insurance rates of different brands, including Porsche, against each other. Insurance costs can significantly influence the decision-making process.
Based on MyChoice’s internal customer quote data, our analysis places Porsche’s insurance rates in the mid-range among luxury brands. Porsche’s rates are more affordable than those of Audi and BMW but slightly higher than Tesla and Mercedes. Here’s a brief comparison:
Porsche Car Insurance Rates Through The Years
After experiencing a decline in recent years, Porsche vehicle insurance rates have begun to rise again. Premiums dropped from $1,410 in 2022 to $1,316 in 2023 but have increased to $1,327 in 2024. This upward trend suggests that insurance costs for Porsche models may continue to climb shortly.
Porsche Car Insurance Rates by Model & Year Make
When insuring your Porsche, the model you choose significantly impacts the insurance rates. Our detailed analysis below provides a comprehensive view of the insurance costs for various Porsche models from different years.
A Brief History of Porsche
Porsche is one of the best-known car brands in the world, and its name evokes images of luxury and status.
Ferdinand Porsche founded his office in Stuttgart in 1931. Among the company’s first products was the Volkswagen Beetle, one of the most popular car designs worldwide. During WWII, Ferdinand Porsche produced designs for military vehicles but saw little success. In 1945, he was accused of war crimes, arrested, and spent 20 months in prison.
During this time, Porsche’s son, Ferry Porsche, also decided to try his hand at car manufacturing. Ferry and Louise Porsche founded their company, Porsche Konstruktionen, and launched the first Porsche model, the 356, in 1948. In 1964, the company released the iconic Porsche 911, one of its most successful models.
The Porsche brand continues to evolve, occupying a solid niche among sports car aficionados.
What Are the Most Popular Porsche Models?
Porsche has produced several well-known models over the years, with some of the most notable released in the past decade even, including those below.
Porsche Insurance FAQs
Which Porsche model is the least expensive to insure?
The 2022 Porsche 911 Carrera is the least expensive model to insure in Canada, with an average annual premium of $1,021.
Are Porsche vehicles expensive to insure in Canada?
Insuring a Porsche in Canada is generally more expensive than any other car models like Honda, Nissan or Toyota.
Several factors, such as your specific Porsche model, can make your insurance plan more affordable. For example, insurance rates for the Porsche Macan will be generally lower than those for the Porsche Cayenne.
Why is insurance for Porsches so expensive?
Luxury vehicles cost more to insure due to a broad range of factors.
First, high-performance sports car parts are usually more expensive and often in limited production.
On top of that, sports cars, especially older models, lack advanced safety features, which can fail to protect you in a collision.
Finally, sports cars are more likely to attract thieves than regular vehicles.