Porsche Offering Brand Insurance for Cars After 1981
Nobody knows their customers better than the people who actually build and market the cars. That is why Porsche is entering the insurance game.
Keeping it safe
In the real world, accidents do happen. Not matter how carefully you might drive when cruising along in your 911, the unpredictable can become real. And for that eventuality, Porsche now has its own insurance.
Applies from 1981 onward
Available through Porsche financial services, this new brand-specific insurance won't apply to all of the company's running vehicles. If you have a Porsche which is newer than the model year 1981, then you are eligible for the new insurance service.
Protecting the value of the rarest 911s
This 911 R is a good example of why Porsche insurance makes sense. A limited-edition car, of which only 991 were built, these 911 Rs steadily rise in value, due to their rarity. If one was to be involved in a crash, that could significantly tarnish its value. With Porsche insurance, you get a much better repair stamp in your 911 R's service booklet, which would help it retain better residual value over the long term - if something did go awry.
Recognizing all the risks
Porsche's products are differentiated from most of its rivals by their sheer usability. A Porsche is a sports car you can drive daily, in any weather, without bother. That means that during winter months, east coast Porsche owners can experience driving conditions which could make them more vulnerable to accidents. Porsche does not want you to use your 911 or Panamera less, but it wants to ensure that is something does go wrong, you are covered.
No big brother monitoring you
Porsche won't be using your car's on-board computer to keep track of mileage and shape a risk profile. Instead, you can take a picture of the odometer and send it to Porsche for verification.
Custom insurance for a brand that knows its customers
Why the decision for Porsche to enter a highly competitive industry, such as car insurance? As we know, the brand has a terrifically loyal customer base. Traditional auto insurance companies can levy very prohibitive flat rates on sportscar brands, without evaluating the actual owner's risk profile. Porsche wants to create a mile-by-mile insurance risk profile, which is much fairer to individual owners.
Tracking the miles to save you money
Nobody knows its product and customers better than Porsche. They certainly have superior insights into user risk, compared to traditional auto insurance. Therefore, Porsche says that two similar 911 users might have different insurance profiles due to their mileage analysis. The Porsche insurance is currently only offered in two states for now: Illinois and Oregon. But there are plans for expansion.
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