Porsche Taycan car insurance
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How do car insurers calculate the cost of Porsche Taycan cover?
A Porsche Taycan, which has a Manufacturer Suggested Retail Price (MSRP) from $190,400, is classified as a luxury electric vehicle. You'll need to request quotes from prestige and enthusiast car insurers that specialise in covering high-value models.
The amount you pay will depend on dozens of factors, but mainly, your driving record and annual kilometres travelled, as well as the actual purchase price of your Porsche Taycan, will be deciding variables.
Insurers are essentially risk analysts, using facts and data from historic claims to calculate insurance premiums.
About the Porsche Taycan
Arriving in Australia in December 2020, the Taycan represents Porsche's first production electric car. The Taycan name is actually of Turkic origin, "Tay" meaning a spirited young horse (a clever nod to the horse on the German brand's crest) and "can", which translates to soul. When combined, the meaning is "soul of spirited young horse", which accurately conveys the electric sports car's dynamic power and performance. Porsche uses a similar naming structure with its compact SUV, the Macan, which we've driven.
With the entry-model 4S accelerating from 0-100kmh in 4.0 seconds and the range-topping Taycan Turbo S making the same sprint in just 2.8 seconds, the name seems apt. Power varies from 390kW on the 4S, all the way to a dramatic 560kW for the Turbo S!
In addition to blistering performance, Porsche's electric car will travel up to 365km with a performance battery, or up to 420km, depending on the model you purchase. According to some sources, the Taycan project is the most costly Porsche has ever worked on, requiring billions in investment and a new assembly line constructing at their headquarters. Another thing that sets the Taycan apart from its rivals is the stunning interior, featuring crisp OLED displays and the option of semi-recycled synthetic leather. Porsche took a different approach to its competitors when it installed a two-speed transmission, which lowers high-speed power consumption when compared with the segment-norm single-speed drivetrain.
Other things insurers will consider, that affect your Porsche Taycan car insurance premium
- The Porsche Taycan's model year (newer vehicles are easier to source replacement parts for)
- Trim grade (The higher the spec of your Porsche Taycan, the more it's worth and the more you'll pay for your car insurance)
- The colour of the vehicle (metallic and specialist paints add to the purchase price and cost/labour to repair)
- The cover you buy (comprehensive, third-party fire & theft or third-party)
- Estimated kilometres travelled yearly (the more you're on the road, the higher the chance you could have an incident)
- The factory safety and security features (cars with technologies like autonomous emergency braking can help to reduce the severity of incidents, or even mitigate them altogether)
- Where the car is parked during the day and night (a locked, private garage, in a low-crime postcode should be cheaper than on-street parking, for example)
- The age of the driver (car insurance tends to be more costly for younger drivers)
- The driver's rating (a rating one driver, for example, has a five-year history of no claims)
- The driver's marital status (car insurers may place married people into a lower-risk category)
- The driver's gender (statistically, men are more likely to claim for serious road injuries, at least in NSW)
- How you use you car (if you use your Porsche Taycan for work or business trips, you may pay more for your insurance cover)
- Modifications (modifications and optional extras can increase the complication for repair and up car insurance cover premiums)
- Market value or agreed value cover (in the event of a smash, if you want an agreed value payout for your car, rather than its current market value as determined by the insurer, you'll pay more to reflect this)
- Theft rates (if the Taycan becomes a favourite of car thieves, the cost to insure will rise along with the theft frequency)
Insurance rates change according to your driving record and location. If you're thinking about buying a Porsche Taycan, or already own one, make sure to get quotes from several car insurers to find the lowest price possible. Also check to see if the car qualifies for any insurance discounts.
Random Porsche facts
- Porsche was founded by Ferdinand Porsche in 1931. Porsche first operated as an engineering and vehicle design consultancy in Stuttgart, Germany. Officially known as Dr. Ing. h.c. F. Porsche KG, it went on to produce iconic models like the Beetle for clients, Volkswagen. Later in the century, Porsche began designing and developing its own sports and race cars.
- In 2017, the one millionth 911 rolled out of the assembly line.
- Porsche is the most successful vehicle builder to have participated in the gruelling 24 hours of Le Mans race, with 108 category wins and 19 outright victories.
- Porsche has also won the Paris-Dakar rally twice with specially prepared off-road versions of its sports cars. It's also built engines for grand-prix winning Formula One cars and has racked up multiple wins in prestigious motorsport events worldwide.
How safe is the Porsche Taycan?
The Australasian New Car Assessment Program (ANCAP) has not yet crash-tested a Porsche Taycan model. However, its European equivalent, Euro NCAP, rated the car 5 stars in 2019. It assessed a left-hand-drive model, rating the car the following scores:
- Adult occupant safety: 85%
- Child occupant safety: 83%
- Vulnerable road users: 70%
- Safety assist: 73%
Its score applies to the European-market Taycan 4S (with performance battery), the same model with the Performance Plus Battery, as well as the Turbo and the Turbo S. We'll have to wait for ANCAP to put the Taycan through its testing procedures.
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