Porsche, in contrast to some of its German luxury counterparts, distinguishes itself with an unapologetically bold approach to automotive design and performance. While other prestigious brands may gravitate towards elegant refinement, Porsche's identity is firmly rooted in a striking and attention-grabbing aesthetic, accompanied by a spirited driving experience. Given these compelling attributes, it's no surprise that a substantial number of car enthusiasts find themselves daydreaming about the moment when they can proudly claim a Porsche parked in the comfort of their driveway.
Although Porsche has diversified its portfolio in recent years to encompass robust SUVs like the Cayenne and Macan, its legacy will forever be intertwined with its iconic sports cars. Notable among these is the enduring Porsche 911, which has maintained its alluring charm through nearly six decades of evolution. Another significant model is the Boxster, introduced in the late '90s, which brought Porsche's distinct charisma to a more accessible price range without compromising on its inherent allure.
Considering these factors, unfortunately, it makes the worst-case scenario nearly unthinkable for any proud Porsche owner, the thought of their prized possession being written off. However, this is where Porsche GAP Insurance steps in as the ultimate saviour, ready to shield and provide respite during such trying circumstances.
Why do I need Porsche GAP Insurance?
You've finally bought the Porsche of your dreams, a moment that has felt like an eternity in the making. The sheer joy radiates from your face as you take the wheel and drive your Porsche out of the showroom. Yet, there's another facet to this story; the moment your Porsche leaves the showroom, it embarks on a journey into the realm of depreciation, shedding up to £10,000 in value in the process.
The depreciation saga doesn't end there, for each year that passes since you bought your Porsche, its value continues its descent. In a financial context, this might translate into a scenario where a new Porsche Boxster, once purchased for £50,000, could potentially result in a payout of merely £20,000 in the unfortunate event of theft or write-off three years down the line. This disparity between the sum required to replace your Porsche with an identical model and the insurance payout offered can leave you in a perplexing financial quandary.
This is precisely where Porsche GAP Insurance comes in as a lifeline. Its purpose is to bridge the gap that exists between the payout from your insurance provider and the actual cost of acquiring a like-for-like replacement Porsche. In essence, Porsche GAP Insurance ensures you're not left stranded in the face of such financial adversity.
What do I get with MotorEasy Porsche GAP Insurance?
MotorEasy GAP Insurance presents an invaluable solution to address the potentially substantial financial gap that may arise, allowing you to recoup the initial cost of your vehicle, rather than being bound by its significantly depreciated market value. The true worth of Porsche GAP insurance becomes evident when you take into account the inherent depreciation that afflicts a new Porsche's value from the very moment it leaves the dealership forecourt.
Our Porsche GAP Insurance effectively supplements your motor insurance coverage in the unfortunate event of a write-off, delivering a comprehensive layer of security that your standard policy is unlikely to furnish. It serves as a robust mechanism to ensure financial readiness to either replace it or settle any outstanding finance owed on your car.
While contemplating the worst-case scenario may not be a pleasant thought, it's necessary to recognise that nearly half a million cars suffer write-offs in the UK each year. Hence, adopting additional safeguards to mitigate this risk makes sound financial sense, particularly if you're financing your car through a lease or PCP arrangement, which may leave you exposed to substantial debt in the event of a write-off.
Our MotorEasy GAP Insurance is accessible for all vehicles that are up to 10 years old or have recorded up to 100,000 miles. It represents a hassle-free and cost-effective approach to eliminate these risks and relish the ownership of your Porsche to the fullest extent. It gives you and your beloved Porsche the protection that you both deserve.
What does Porsche GAP Insurance cover?
Regarding your Porsche GAP Insurance, your quote and coverage depend on the specific type of Gap Insurance you choose. At MotorEasy, we extend our protection for customary write-offs, which encompass:
- Accidental damage
And our comprehensive coverage doesn't stop there. Recognising the profound value of your Porsche, we have amassed several benefits for you when you opt for our Porsche Gap Insurance:
- Complimentary access to a MotorEasy account, affording you the convenience of overseeing all your vehicle's particulars, essential documentation, timely reminders and exclusive motoring offers.
- We commit to reimbursing expenses of up to £1000 for motor insurance excess.
- Optional extras and accessories? You're protected, as long as they are either factory-fitted or dealer-installed.
- Planning a European road trip? We've got you covered for up to 30 days, ensuring a hassle-free journey.
- We also offer reduced costs on MotorEasy maintenance and repair services.
Owning a high-performance vehicle like a Porsche undoubtedly sets you apart and may attract the envy of your community. However, there is an unfortunate downside to this privilege. Porsches can be especially tempting for thieves, increasing the risk of theft.
In the unfortunate event of a write-off, you may discover that your insurance payout falls significantly short of the amount required to buy a like-for-like replacement. Therefore, it is important to enhance your coverage and safeguard yourself comprehensively. But just how probable is a write-off, and is the additional protection truly necessary?
Write-offs are more prevalent than you might think, with over 500,000 cars meeting this fate annually. Although accidental damage is a typical cause, it's worth noting that MotorEasy GAP insurance extends its coverage to include car theft, a growing contributor to write-offs each year. For perspective, a staggering 112,174 motor vehicles were stolen in the UK in 2017/18, equating to 307 thefts every day.
Regrettably, these figures reflect a substantial increase compared to previous years, indicative of a 50% surge in car theft over the last five years. It's evident that car theft is on the rise, underscoring the importance of ensuring comprehensive protection, especially when you own a Porsche.
Compare Porsche GAP Insurance quotes
Getting your Porsche GAP Insurance quote through MotorEasy is a seamless and speedy process. Our dedicated GAP Insurance page provides comprehensive details and hosts a user-friendly tool that swiftly generates your tailored quote within seconds.