General lability can be an extension on you home or auto insurances which typically you have a few 100k coverage (dog bite, slip and fall, etc.) by default. To get to 5m, they can add to existing coverage as a added premium within liability terms. The connection to Porsche finance is the unusual part not clear what the liability coverage is relating to that risk. Not seeing how a liability coverage would pay off a loan if you fail to pay. In a typical auto loan, Comp not Liability pays off a loan on a car total (and possibly gap insurance).

 

maybe you can get a umbrella policy to cover the 5mm liability they are wanting.

 

I have a large umbrella policy for liability as I coach teenagers, and you know, parents... I've always felt that if I can't leave what I brought to the track in a smoldering pile of rubble, I can't afford to be there. I'd hate to wad up something the bank owned.

 

150% this.

 

I use Chubb and i have a $5 mil. umbrella. They would be a good source. If you are trying to insure for track days only, that's easy. Opentrack will do a yearly policy for that. I'm betting it is around $10-12k a year. Definitely will need insurance if you are financing. On race days, you would be on your own self-insuring though. Good luck. Like other said here, I probalby wouldn't finance unless I was doing HPDE stuff only where I could get insured.