Porsche car insurance policy terms and conditions.

What is the excess in the Porsche car insurance?

The deductible is a portion of the damage you keep at your own expense. Not all insurers use a deductible. If they do, it is often an amount up to €150. For a damage of €1,000, you will be paid €850 assuming a deductible of €150. Insurers use a deductible to discourage policyholders from making claims.

A higher excess for young drivers

Young drivers often pay a higher premium until they are 24 years old. Insurers do this because they do more damage compared to older drivers. For some insurers, this does not go far enough. They also set an additional deductible in the policy terms in case damage is caused by young drivers. Not all insurers do this.

Excess for windscreen damage

A different deductible applies to windshield damage. If window replacement is not necessary, there is often no deductible. The insurer may refer you to a particular glass repairer in your area. If the car window is replaced, a deductible often does apply. The amount again depends on where you go for the windshield replacement. Insurers may refer you to repairers that have contracts with them.

The new-age insurance

For new or young Porsche cars, the new value settlement is interesting. In case of total loss of the Porsche car, the claim is settled based on the new value of the Porsche car. The new-for-old value settlement can apply for one to three years. After this period, the current market value of the Porsche car is used again in case of damage.

Purchase price regulation

This is similar to the new value scheme, but this scheme is aimed at used Porsche cars. If this scheme is included in the Porsche car insurance according to the policy conditions, the purchase value of the Porsche car is assumed for a certain period of time. Did you buy the car for €8,000? Then this value is temporarily used instead of the current market value for the claim settlement.

Daily value of the Porsche car

The current value is the value of the Porsche car just before the damage. This value takes into account the age of the Porsche car, but also the state of maintenance and, for instance, the odometer reading. How well the Porsche car has been maintained is also taken into account.

Cancellation of Porsche car insurance

Porsche car insurance has a standard term of one year. After the first year of insurance, the insurance is renewed again for one year. After the first year of insurance, the insurance can be cancelled daily. Some insurers use a notice period of one month. This is allowed. When canceling the Porsche car insurance on April 5, the insurer may terminate the insurance as of May 5. When selling the Porsche car, the Porsche car insurance can be cancelled immediately. Also logical, since there is nothing left to insure. Also during the first year the insurance can be cancelled when selling the Porsche car.

Damage control by the insurer

Insurers use damage control for damage repair. This means that you should preferably have the Porsche car repaired at a repair company designated by the insurer. They steer damage by, for instance, lowering the own risk when you go to an affiliated repairer. This phenomenon is also used for glass repairs.

Other exclusions

In the policy conditions, more situations are mentioned in which there is no cover. For instance, participating in speed competitions or renting out the Porsche car. The Porsche car insurance also does not provide cover for driving a Porsche car without a valid driving licence.

Guarantee

In the event of a collision abroad, you may have to pay bail. In extreme cases, the Porsche car may be seized. It is even possible that you will end up in prison yourself. The Porsche car is returned to you upon payment of a deposit. The insurer takes care of this. Also if a deposit is required to get you out of jail.