Porsche to Offer Insurance Program for Taycan

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By the time the 2020 Porsche Taycan launches late this year, Porsche owners in three states will likely be able to choose a new kind of per-mile insurance offered through the sports-car brand.

Especially for those planning to make a leap to the Taycan, it could amount to some peace of mind. For those new to electric cars, insurance can often be a bit of a rude awakening.

Yes, in terms of maintenance, energy costs, and wearable items like brake pads, EVs are cheaper and involve less hassle. But wildly varied electric-vehicle claims rates have left insurers to take a conservative tack with EVs, resulting in some steep rate hikes. The most noteworthy of those was in 2017, when AAA looked at its own data and that from the insurer-funded Highway Loss Data Institute and, despite stellar safety ratings, decided to raise rates on the Tesla Model S and Model X by 30 percent.

Tesla, which recently started offering leases, will soon also launch its own insurance product in which it might share data from its vehicles and Autopilot sensors.

The Porsche insurance program, administered in partnership with Mile Auto and Porsche Financial Services, doesn’t involve the collection of the vehicle’s location, or when and how it’s driven. Mile Auto’s solution simply involves submitting a photo of the vehicle odometer at regular intervals.

“No other information is collected from the vehicle or customer,” Porsche Financial Services assured Green Car Reports.

Although the timing of the program is perfect for those electric-vehicle concerns, Porsche says that the program was developed independent of the Taycan launch. It will cover the Taycan as well as every Porsche model going back to the 1981 model year.

Porsche Financial Services is the captive finance provider for Porsche as well as Bentley, Lamborghini, and Bugatti.

There’s one big “if” to this program: So far, you need to be in Illinois and Oregon this year, although Porsche aims to offer it in a third state by the end of the year. Rollout of the program to more states remains under evaluation; but given Porsche's plans to embrace electric with more models in the near future, it's an extra bit of assurance.

Via https://www.greencarreports.com/new...ce-program-at-ease-taycan-electric-car-buyers
 

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Via https://www.greencarreports.com/new...ce-program-at-ease-taycan-electric-car-buyers

By the time the 2020 Porsche Taycan launches late this year, Porsche owners in three states will likely be able to choose a new kind of per-mile insurance offered through the sports-car brand.

Especially for those planning to make a leap to the Taycan, it could amount to some peace of mind. For those new to electric cars, insurance can often be a bit of a rude awakening.

Yes, in terms of maintenance, energy costs, and wearable items like brake pads, EVs are cheaper and involve less hassle. But wildly varied electric-vehicle claims rates have left insurers to take a conservative tack with EVs, resulting in some steep rate hikes. The most noteworthy of those was in 2017, when AAA looked at its own data and that from the insurer-funded Highway Loss Data Institute and, despite stellar safety ratings, decided to raise rates on the Tesla Model S and Model X by 30 percent.

Tesla, which recently started offering leases, will soon also launch its own insurance product in which it might share data from its vehicles and Autopilot sensors.

The Porsche insurance program, administered in partnership with Mile Auto and Porsche Financial Services, doesn’t involve the collection of the vehicle’s location, or when and how it’s driven. Mile Auto’s solution simply involves submitting a photo of the vehicle odometer at regular intervals.

“No other information is collected from the vehicle or customer,” Porsche Financial Services assured Green Car Reports.

Although the timing of the program is perfect for those electric-vehicle concerns, Porsche says that the program was developed independent of the Taycan launch. It will cover the Taycan as well as every Porsche model going back to the 1981 model year.

Porsche Financial Services is the captive finance provider for Porsche as well as Bentley, Lamborghini, and Bugatti.

There’s one big “if” to this program: So far, you need to be in Illinois and Oregon this year, although Porsche aims to offer it in a third state by the end of the year. Rollout of the program to more states remains under evaluation; but given Porsche's plans to embrace electric with more models in the near future, it's an extra bit of assurance.
 

Passifier

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As a former TESLA S owner, I think this is a great idea and hopefully will be a better rate than is offered by most insurance companies in the USA. Looking forward with much anticipation to have it available in Florida.
 

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Has anyone managed to get an insurance quote from any insurer yet on the Taycan? All the uk comparison sites / insurers I’ve tried say they aren’t able to provide a quote yet......
 

domin1720

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Has anyone managed to get an insurance quote from any insurer yet on the Taycan? All the uk comparison sites / insurers I’ve tried say they aren’t able to provide a quote yet......
Yes I was quoted and it was better than I thought. My quote in Michigan on a $180k turbo purchase was $1,140 for 6 months
 



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