Porsche Auto Insurance, which is currently available to residents of Illinois and Oregon who own a Porsche automobile, launched in June 2019. The company operates under a mileage-based car insurance model, which limits the cost of drivers who don’t frequently log many miles in their Porsche. Porsche Auto Insurance is a wholly owned subsidiary of Mile Auto.
Unique features Porsche Auto Insurance offers
Only Porsche’s made after 1981 are eligible for Porsche Auto Insurance. It offers a number of benefits for those who own a Porsche or are in the market for one.
- Pay-Per-Mile Rates: The rate you pay is based on the miles you drive. It’s a simple way to track your mileage, just take a picture of your odometer and send it to Porsche. There is no app or tracking device.
- Porsche Genuine Parts: If your vehicle is damaged, the parts will be replaced with real Porsche replacements.
- Claims Concierge: If you have a claim or would like to speak to a representative, Porsche Auto Insurance offers you a claims concierge for when things go wrong.
- Non-invasive Data Collection: This is to benefit the owner's privacy; there is no app or tracking device, you only have to send a picture of your odometer to Porsche.
- Agreed Value Coverage: Porsche will pay the agreed-upon value if your car is a total loss.
How are Porsche Auto Insurance rates calculated?
A car insurance policy with Porsche Auto Insurance is comprised of two different rates: a base rate and a per-mile rate. The base rate protects your Porsche from non-driving related incidents, such as hail, fire, theft, etc. The per-mile rate is a rate you pay for each mile you drive. Both of these rates are calculated based on the normal factors insurance companies use to determine premiums (age, credit history, driving history, etc.).
More about Porsche Auto Insurance
Currently, Porsche Auto is only offered in two states, Illinois and Oregon. The company plans to expand and offer its insurance policy in more states, but as of June 2019, has not commented on when.
If Porsche Auto Insurance isn’t currently available in your state, you can sign up for alerts on Porsche’s insurance website for your state by providing them with contact information.