Mileage Based Porsche Insurance
06-26-19, 12:16 PM
#1
Instructor
Thread Starter
Mileage Based Porsche Insurance
Saw this in a daily insurance industry newsletter I receive. Interesting concept but will take a while to implement as rate plans have to be approved by the Dept of Insurance in each individual state.
Owners of Porsche autos now have their own Porsche auto insurance. The mileage- based coverage is available to all Porsche owners with vehicles 1981 and newer that are garaged in Illinois and Oregon. The company said it will be expanding its insurance benefit to additional states in the future.
The coverage is being offered in collaboration with Mile Auto, an Atlanta-based pay-per-mile auto insurance company that uses computer vision technologies to help low-mileage drivers save money. Mile Auto customers use their smartphones to report mileage once a month, and then they pay based on exact miles driven plus a base rate.
Mile Auto customers can simply take a photo of their odometer to submit their mileage instead of having to use tracking devices or always-on smartphone apps as is the case with other mileage-based insurance plans, according to Fred Blumer, CEO of Mile Auto.
Porsche Auto Insurance customers will also receive repairs with Porsche genuine parts, claims concierge service and agreed value coverage.
“Innovation has been at the core of Porsche’s success story for the last 70 years,” said Ross Dupper, president and CEO of Porsche Financial Services, the provider of leasing and financing products for Porsche in the United States. “The launch of Porsche Auto Insurance marks another innovation adding to the success of the next 70 years.”
Owners of Porsche autos now have their own Porsche auto insurance. The mileage- based coverage is available to all Porsche owners with vehicles 1981 and newer that are garaged in Illinois and Oregon. The company said it will be expanding its insurance benefit to additional states in the future.
The coverage is being offered in collaboration with Mile Auto, an Atlanta-based pay-per-mile auto insurance company that uses computer vision technologies to help low-mileage drivers save money. Mile Auto customers use their smartphones to report mileage once a month, and then they pay based on exact miles driven plus a base rate.
Mile Auto customers can simply take a photo of their odometer to submit their mileage instead of having to use tracking devices or always-on smartphone apps as is the case with other mileage-based insurance plans, according to Fred Blumer, CEO of Mile Auto.
Porsche Auto Insurance customers will also receive repairs with Porsche genuine parts, claims concierge service and agreed value coverage.
“Innovation has been at the core of Porsche’s success story for the last 70 years,” said Ross Dupper, president and CEO of Porsche Financial Services, the provider of leasing and financing products for Porsche in the United States. “The launch of Porsche Auto Insurance marks another innovation adding to the success of the next 70 years.”
Thread
Thread Starter
Forum
Replies
Last Post