Porsche offers a dizzying array of vehicles and variants – including 24 versions of the 911 – but their latest offering is something a tad more unusual.
Thanks to a partnership between Porsche Financial Services and Mile Auto, the automaker is now offering Porsche Auto Insurance.
Available on 1981 and newer Porsches, the insurance is mileage-based so owners won’t have to shell out a fortune while their car is packed during a long Chicago winter. While prices will vary by customer, the company said costs will be limited to “actual miles driven, plus a low base rate.”
Most mileage-based insurance plans rely on tracking where you go, but Porsche says their policy puts privacy front and center. Instead of relying on “invasive tracking devices or always-on smartphone apps,” Porsche Auto Insurance will only require drivers to take a picture of their odometer and submit the mileage. That sounds relatively simple and ripe for fraud.
Putting the latter aside, Porsche says their insurance policy comes with a number of benefits including a claims concierge and the use of genuine parts for any necessary repairs. The insurance also comes with “agreed value coverage” which means owners won’t have to worry about getting shortchanged if their rare or collectible sports car gets wrecked.
The plan also includes diminished value coverage which covers the lost value of a car after an accident. Policy holders will also receive a rental reimbursement of up $125 per day while their car in the shop for repairs after a crash.
Porsche Auto Insurance is only available in Illinois and Oregon, but the company says it will be offered in additional states in the future.