Can you agree on any value and the insurance just adjusts the premium to match the value? So if you prefer to pay next to no insurance, you agree it's worth $1,000. Or, if you like to gamble, agree on $3,000,000 so you can replace your Taycan with a Nevers should it get totaled.
Do they get you a comparable rental for the 1-2 years waiting for that new car? And do they cover the price of the new car for the future model year of which you can get an allocation for (getting on a wait list for a Taycan today might yield you a MY24 or even MY25 Taycan)?
I wasn't talking specifically about the taycan but on a previous vehicle of mine, the contract clearly stated "new car price" for the first 3 years ownership. Meaning they would give you exactly the price you declared when you took the insurance without any depreciation. I very much doubt they'd care about waiting time or new model price increase.
Ok, so you don’t get a new car, you get your original purchase price (or whatever value you gave them on which they based the premium). You can insure almost anything. Anyone can buy life insurance on anyone, not even tell them about it. There is a jeweler in Canada who insures against certain amount of snow falling in January. His policy states that if a certain minimum amount of snow falls in January, the insurance company will refund all customers who bought there in November and December in the prior year - he uses it as a Christmas shopping promotion. He did collect once, hence it made the newspapers.
