981 warranty renewal

[Kevin G]

51 minutes ago, spyderman8 said:

Yes but not necessarily a Porsche. I got an Astra - with almost zero fuel in.

?

[temporarychicken]

I was quoted the same as Boxternoob. However, I am told that I will fail the 211 point check with my lowering springs fitted, since they are aftermarket parts.

I really don't want to convert back (thus incurring lots of time and faffing) to standard and then pay 1600 pounds for 2 years more warranty and breakdown cover from Porsche!!!

I love the OPC warranty but is there any other 3rd party options worth considering?

[tcornet]

My view, unless you are planning to upgrade to a 991, then the 718 isn't worth the £20k plus you will need to change. 

So I'd go for the 2 years and push harder on the price 

[ChrisPa]

I renewed the warranty in the first year for a further 2 years to save on the inspection fee, as I did with my 987 gen2. It suffered a broken gear linkage with no part available in the UK or Germany, so it was off the road for 5 weeks.  Mercedes estate provided for the duration which was vital as the Boxster is my only car. So I would always extend for peace of mind and convenience.

 

[PEZ 9815]

Why do we feel nervous about these cars when they are out of warranty? I have never considered an extended warranty on any other car I have ever owned, surely we are buying quality engineered vehicles in the first place , just seems crazy that we don't feel confident enough to run them without insurance.

[topradio]

6 minutes ago, PEZ 9815 said:

Why do we feel nervous about these cars when they are out of warranty? I have never considered an extended warranty on any other car I have ever owned, surely we are buying quality engineered vehicles in the first place , just seems crazy that we don't feel confident enough to run them without insurance.

Because people are conditioned to buy extra stuff they don't need.

[EXY]

Considering Porsche reliability is now sooo bad a replacement warranty has to be a no brainier I reckon

[Stuart21UK]

4 hours ago, PEZ 9815 said:

Why do we feel nervous about these cars when they are out of warranty? I have never considered an extended warranty on any other car I have ever owned, surely we are buying quality engineered vehicles in the first place , just seems crazy that we don't feel confident enough to run them without insurance.

I've had two warranty issues in the last 30 months, but I did not extend the warranty on the 987 because I took the view you express....the 981 though is a new car and one I dont expect to be replacing anytime soon, its worth more too so I feel different about it...

[mneil]

All I see is a great little money spinner Porsche have got themselves! I agree totally with Pez 9815, have some confidence in the engineering, it's German not BLMC. I refused to be taken down the same route with my previous cars, and they were Lotus, we all know about there build quality!!!!!!  Stop behaving like sheep!!?.

 

[GTB981]

I for one will not be taking an extended warranty in September. The car will then be 2 years old and I may even use and independent garage for servicing using Porsche parts - shock horror. Pretty poor show if Porsche feel they need to push extended warranties. Shows no confidence in the product !

[Daniel Joseph]

1 hour ago, GTB981 said:

I for one will not be taking an extended warranty in September. The car will then be 2 years old and I may even use and independent garage for servicing using Porsche parts - shock horror. Pretty poor show if Porsche feel they need to push extended warranties. Shows no confidence in the product !

Taking a contrarian view, wouldn't it only make sense for Porsche to push extended warranties if they HAD confidence in the product and, consequently, didn't expect many claims to be made under the extended warranties?

[topradio]

As usual Dan has hit the nail on the head

[Jon61]

I suspect the extended warranty is an insurance-based product, underwritten by somebody other than Porsche. Porsche themselves will just get a commission on warranties they sell (though there might be some profit-sharing arrangement to give Porsche some incentive to improve the reliability of their cars). But Porsche will make money selling them regardless, and clearly the underwriting insurer also expect to make a profit even after paying a hefty commission (and they will have done more detailed analyses of Porsches' reliability in setting their prices than most users would be able to do).

In selling the warranties, Porsche aren't expressing any opinion on the reliability, they are simply trading on people's understandable aversion to risk (especially with an expensive item like a Porsche), and most people's difficulty in accurately assessing the real level of risk, just like anybody that sells any type of insurance. And trying to sell another 'extra' to make an additional margin, just like PSE or a Bose stereo. If you can afford (however unwillingly) the potential loss, you might expect to do a lot better in the long run by self-insuring (not buying the warranty and putting the money aside as a contingency fund), BUT on an individual basis, you might lose out if your engine goes bang. It's your choice.

[Daniel Joseph]

2 minutes ago, Jon61 said:

I suspect the extended warranty is an insurance-based product, underwritten by somebody other than Porsche. Porsche themselves will just get a commission on warranties they sell (though there might be some profit-sharing arrangement to give Porsche some incentive to improve the reliability of their cars). But Porsche will make money selling them regardless, and clearly the underwriting insurer also expect to make a profit even after paying a hefty commission (and they will have done more detailed analyses of Porsches' reliability in setting their prices than most users would be able to do).

In selling the warranties, Porsche aren't expressing any opinion on the reliability, they are simply trading on people's understandable aversion to risk (especially with an expensive item like a Porsche), and most people's difficulty in accurately assessing the real level of risk, just like anybody that sells any type of insurance. And trying to sell another 'extra' to make an additional margin, just like PSE or a Bose stereo. If you can afford (however unwillingly) the potential loss, you might expect to do a lot better in the long run by self-insuring (not buying the warranty and putting the money aside as a contingency fund), BUT on an individual basis, you might lose out if your engine goes bang. It's your choice.

All of which is true. Much as I appreciate Topradio's compliment, I was being a bit facetious.? That said, extended warranties generally are a real money-spinner for the manufacturers and underwriters.  

Many years ago I went to Dixons (Remember when they were on every High Street?) to buy an aftermarket Sony radio/CD player for my new E30 BMW 325i convertible.  (At the time, even a radio was an optional extra!)  The poor sap selling the thing to me was obviously under huge pressure to push extended warranties.  He even invoked Japan's actions in the Second World War to make his case!  I declined his offer.  It was widely rumoured at the time that Dixons sold the goods virtually at cost and made all their profits on warranties.

[Daniel Joseph]

On 17/06/2016 at 6:51 PM, spyderman8 said:

Yes but not necessarily a Porsche. I got an Astra - with almost zero fuel in.

Ouch!  

I'm currently driving a BMW 320d Xdrive mSport, courtesy of Porsche Assistance and Enterprise, while Porsche Cambridge sort out an electronics glitch on my 981.  Dreary car, by the way, in no way "sporting".

[topradio]

I suppose it comes down to your general attitude to risk. As I have often stated here I almost never take out optional insurance unless the potential loss would be so catastrophic as to make it a no-brainer, such as insurance to cover your house burning down.

People have been conditioned to believe that they can pay out to cover every eventuality and in some cases it has been a placebo as, when they try to make a claim they find that the risk was never fully covered or after the event the insurance company puts up the premiums so as to claw back the money over a number of years.

If I scratched my car or spilt red wine on the carpet my first instinct is not to think how it may benefit me by making an insurance claim but to make a note to myself not to do it again and clean up the mess myself. However, I don't stretch my finance to the point where an unexpected expense would cause me a problem.

[Daniel Joseph]

1 hour ago, topradio said:

If I scratched my car or spilt red wine on the carpet my first instinct is not to think how it may benefit me by making an insurance claim but to make a note to myself not to do it again and clean up the mess myself. However, I don't stretch my finance to the point where an unexpected expense would cause me a problem.

Absolutely agree and I would do exactly the same, but you would be amazed at the number of people who think that they don't get value for money out of their house insurance policy unless they make a claim each year at least equal to the premium they paid!

With car insurance, I shop around on comparison websites at renewal and am happy to change every year for a cheaper premium, provided the company is a reputable (and "Which" recommended) name.  Happily, my partner and I are at the age where our risk is perceived to be lowest, we have 10 years protected NCD, we are both retired, so no commuting, we have mileage limits of 4,000 on each car, both cars are garaged unless being used and we live in a low crime area.  This year's annual premium for both of us on the Boxster is about £230. 

If you have been with the same insurance company for more than two years, you can take it as read that they assume you're not checking around at renewal and they are gouging you.  Their business model is cynical but extremely profitable:  the vast majority of policy holders are too busy or distracted to bother to do anything but accept the renewal quote and, of course, the insurance company tell you that they've "...made is really easy for you to renew.  You don't need to do anything, we'll just charge your debit or credit card."  Yeah, thanks but no thanks!

With house insurance, I take a completely different approach.  Unlike the car, the loss of which would be painful but not catastrophic, the house is  by far our most valuable physical asset.  It's also a Listed Building, so repair costs in the event of a disaster could be very high.  I rely on our broker to get the very best quality and most appropriate cover and won't churn it to save a few quid. 

[Stuart21UK]

On 6/17/2016 at 8:45 PM, temporarychicken said:

I was quoted the same as Boxternoob. However, I am told that I will fail the 211 point check with my lowering springs fitted, since they are aftermarket parts.

I really don't want to convert back (thus incurring lots of time and faffing) to standard and then pay 1600 pounds for 2 years more warranty and breakdown cover from Porsche!!!

I love the OPC warranty but is there any other 3rd party options worth considering?

wondering if my grills will mean I fail too?

[Stuart21UK]

11 hours ago, Daniel Joseph said:

Absolutely agree and I would do exactly the same, but you would be amazed at the number of people who think that they don't get value for money out of their house insurance policy unless they make a claim each year at least equal to the premium they paid!

With car insurance, I shop around on comparison websites at renewal and am happy to change every year for a cheaper premium, provided the company is a reputable (and "Which" recommended) name.  Happily, my partner and I are at the age where our risk is perceived to be lowest, we have 10 years protected NCD, we are both retired, so no commuting, we have mileage limits of 4,000 on each car, both cars are garaged unless being used and we live in a low crime area.  This year's annual premium for both of us on the Boxster is about £230. 

If you have been with the same insurance company for more than two years, you can take it as read that they assume you're not checking around at renewal and they are gouging you.  Their business model is cynical but extremely profitable:  the vast majority of policy holders are too busy or distracted to bother to do anything but accept the renewal quote and, of course, the insurance company tell you that they've "...made is really easy for you to renew.  You don't need to do anything, we'll just charge your debit or credit card."  Yeah, thanks but no thanks!

With house insurance, I take a completely different approach.  Unlike the car, the loss of which would be painful but not catastrophic, the house is  by far our most valuable physical asset.  It's also a Listed Building, so repair costs in the event of a disaster could be very high.  I rely on our broker to get the very best quality and most appropriate cover and won't churn it to save a few quid. 

 

My car insurance is £360 again this year with 'Porsche aka Aviva/Marsh' for 12000 miles (of which 10000 are full business use)...havent had to rebroke it in almost 8 years....you just have to find someone who doesn't subscribe the the 'comparison site model' and then you won't need to use the comparrison site every year! (hard to do I know)

[Ringer250]

8 hours ago, boxsternoob56 said:

wondering if my grills will mean I fail too?

Would not take long to remove the grills before the check.

 

[Daniel Joseph]

19 hours ago, boxsternoob56 said:

 

My car insurance is £360 again this year with 'Porsche aka Aviva/Marsh' for 12000 miles (of which 10000 are full business use)...havent had to rebroke it in almost 8 years....you just have to find someone who doesn't subscribe the the 'comparison site model' and then you won't need to use the comparrison site every year! (hard to do I know)

Hi boxsternoob56, that's interesting.  Has the underwriter (as opposed to the broker) remained the same all that time?  If so, it's good to hear that there is an alternative to having to keep shopping around.  In a perfect world, I would prefer not to have to do it.

Many insurance companies seem to seek every opportunity to rip you off: when I briefly owned a Jaguar F-type convertible earlier this year, I took out a new policy with More Than.  The premium was around £220.  When I called them after a couple of months to transfer the cover to the Boxster, they quoted me an ADDITIONAL £350 for the remaining ten months!!!  I asked to speak to the underwriters, to ask them  to explain how they could justify charging me more than double the original premium in total for a change to a car in a similar insurance group. Of course,  they refused to speak to me, because it was totally unjustifiable.   I cancelled the policy and took out a new policy on the Boxster with Saga.  I fully expect that, when the renewal comes around, Saga will be more expensive and More Than will be competitive again, as I will be a potential new customer to the latter.

[topradio]

When I bought the 981 it came with 1 weeks complimentary insurance from Porsche/Marsh/Aviva. I took out annual cover and it was about £290. One year later it had gone up by £10. It also had track day cover but I haven't investigated that yet.

[Stuart21UK]

1 hour ago, Daniel Joseph said:

Hi boxsternoob56, that's interesting.  Has the underwriter (as opposed to the broker) remained the same all that time?  If so, it's good to hear that there is an alternative to having to keep shopping around.  In a perfect world, I would prefer not to have to do it.

The underlying insurer is Aviva and always has been, administered by Marsh, sold as Porsche Insurance...originally introduced via an OPC...

Don't get me wrong but effectively you are getting 'under market' pricing and then moaning when the insurer takes the cost back to one that makes them money, either by increasing the cost in year 2 OR charging you more for 'changes' or other aspects of the policy i.e. higher excesses or other aspects...

The only way that a comparrison site is likely to ever work is on that basis!

[Daniel Joseph]

That's an interesting perspective on the motor insurance business model: companies who contribute to price comparison websites  (i.e. most of them) pricing below cost in the hope of recouping the losses in subsequent "renewal" years. It sounds unsustainable in the longer term.

That said, I wouldn't say my cover is especially cheap in comparison with yours, given that you have three times the mileage limit of mine and business use included.  I'll definitely check out Porsche Insurance at renewal, as I would prefer to pay a realistic premium and hope that my loyalty would count in my favour, should the worst happen.   Thanks for the heads up.  ☺

[PEZ 9815]

21 hours ago, boxsternoob56 said:

 

My car insurance is £360 again this year with 'Porsche aka Aviva/Marsh' for 12000 miles (of which 10000 are full business use)...havent had to rebroke it in almost 8 years....you just have to find someone who doesn't subscribe the the 'comparison site model' and then you won't need to use the comparrison site every year! (hard to do I know)

Sorry to muddy the waters but I had a very poor experience with Marsh, I insured my 987 for 2 years with them and did find them competitive, however when I bought the 981 I called up to change on the day of my pick up and they loaded the premium by more than 50% when it came to renewal I did a compare and Sainsburys came in approx £200 cheaper.