Porsche car insurance policy terms and conditions.

What is the deductible in 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 deductibles to discourage policyholders from claiming.

A higher deductible 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 windshield 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 glass repairer in your area. When replacing the car window, 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-for-old scheme

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.

Acquisition Value Scheme

This is similar to the new-value scheme, but this scheme is aimed at used Porsche cars. According to the policy terms, if this scheme is included in the Porsche car insurance policy, 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 assumed for the claim settlement instead of the current market value.

Day value of the Porsche car

The daily value is the value of the Porsche car just before the damage. This value takes into account the age of the Porsche car, as well as its state of repair and mileage, for example. It also takes into account how well the Porsche car has been maintained.

Porsche car insurance cancellation

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, after all, there is nothing left to insure. Also during the first year the insurance can be cancelled when selling the Porsche car.

Claims management by the insurer

For damage repairs, insurers use damage control. That is, you prefer to have the Porsche car repaired at a repair shop designated by the insurer. They do damage control by, for example, reducing the deductible if you go to the affiliated bodyshop. This phenomenon we also know in glass repair

Other exclusions

There are other situations named in the policy conditions where there is no coverage. These include, for example, participating in speed contests or renting out the Porsche car. Porsche car insurance also does not provide coverage when driving the Porsche car without a valid driver's license.

Deposit

In a collision abroad, you may have to deal with bail bonds. In an extreme case, the Porsche car may be impounded. You may even end up in jail yourself. You get the Porsche car back on payment of bail. The insurer will take care of this. Even if bail is needed to get you out of jail again.