USA: Porsche introduces Auto Insurance for their cars

blackwasp · 21st June 2019, 23:36

Porsche Financial Services (PFS) has partnered with Mile Auto Inc. to offer mileage-based car insurance for Porsches in the USA.

Initially, only Porsche cars from 1981 onwards and those garaged in the states of Illinois and Oregon will be able to pick up the insurance. Expansion to other states is expected at a later date. Payment can be made monthly on basis of actual usage or 6-monthly based on mileage estimate.

The cost of insurance will be calculated as a sum of a base price and cost for the actual distance driven. Owners have to take a photo of the car’s odometer and there is no requirement of any tracking devices or an always-on smartphone app. The company also offers ‘agreed value coverage’ (including custom parts and accessories), a claims concierge and repairs using genuine parts. In case of a total loss or theft, PFS will pay a cash settlement for the agreed value of the vehicle.

Additionally, the owner will be eligible for rental reimbursement of upto US$125 per day for upto 30 days when the car is undergoing repairs. Towing to the nearest Porsche Approved Collision Center is also covered. Owners can also opt for a diminished value coverage, as an accident can affect a car’s resale value.

USA: Porsche introduces Auto Insurance for their cars-hero.1a2da309.jpg

Link to the Team-BHP News

21st June 2019, 23:36	#1
blackwasp Senior - BHPian Join Date: Apr 2015 Location: Navi Mumbai Posts: 2,974 Thanked: 26,325 Times View My Garage	USA: Porsche introduces Auto Insurance for their cars Porsche Financial Services (PFS) has partnered with Mile Auto Inc. to offer mileage-based car insurance for Porsches in the USA. Initially, only Porsche cars from 1981 onwards and those garaged in the states of Illinois and Oregon will be able to pick up the insurance. Expansion to other states is expected at a later date. Payment can be made monthly on basis of actual usage or 6-monthly based on mileage estimate. The cost of insurance will be calculated as a sum of a base price and cost for the actual distance driven. Owners have to take a photo of the car’s odometer and there is no requirement of any tracking devices or an always-on smartphone app. The company also offers ‘agreed value coverage’ (including custom parts and accessories), a claims concierge and repairs using genuine parts. In case of a total loss or theft, PFS will pay a cash settlement for the agreed value of the vehicle. Additionally, the owner will be eligible for rental reimbursement of upto US$125 per day for upto 30 days when the car is undergoing repairs. Towing to the nearest Porsche Approved Collision Center is also covered. Owners can also opt for a diminished value coverage, as an accident can affect a car’s resale value. Link to the Team-BHP News Last edited by blackwasp : 21st June 2019 at 23:37.
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