Maverick Tech Session Series: Insurance
By Michael Baynton, Region Tech Session Chair
Think back—how much time did you spend researching the
purchase of your Porsche(s)? Deciding on the specific model, the
“must have” options, the color, even the dealership or private
seller from which to purchase. And that’s before you even sit
down and consider the selling price and what you are willing
to pay for your new toy. All that time spent to get just the right
car at just the right price. And then most people just call their
current insurance company to add the additional vehicle to their
policy—probably with the exact same coverage as the family
SUV or grocery-getter. And that last decision might the right
one. Or it might be all wrong.
Does your Porsche have ACV (actual cash value) coverage?
Or maybe a “Stated value” or “Agreed value” policy?
If you drive your 911 through Fancytown
and happen to bump into a new Ferrari
488, do you have enough coverage to
pay for the damages?
And if you have special “Classic car” insurance on your
garage queen 356, when exactly can you drive your baby and
still be adequately insured?
These topics and more were covered during our latest tech
session, held on November 3 at Park Place Porsche. Justin
Husman from Phoenix Insurance provided a comprehensive
overview of the various types of coverages available, and
touched on the pros and cons of each. While the focus was
primarily on car insurance, he also covered homeowner and
umbrella policies as well as track insurance. (Fun fact: if
you purchase track insurance for a weekend HPDE day and
somehow manage to make contact with another car on track,
you are out of luck! The coverage you purchased typically
only covers damage to your car if you make contact with a
barrier or wall. Who knew?)
In addition to highlighting the differences between the
various policies, Justin also delved into the differences between
the types of insurance providers and independent brokers. He
provided great advice and “insider” insight into the insurance
business, and a healthy Q&A session from our 40+ members
in attendance turned out to be very enlightening. Suffice it to
say that quite a few will be doing additional research on their
current insurance policies!
A big thank-you goes out to G.M. Patrick Huston and Liz
Shafton at Park Place Porsche, who graciously allowed us to
use their training room for this tech session. As he always
does, Patrick greeted our members and made himself available
to our members to show them around the dealership. Also, to
Justin Husman for presenting the info and providing donuts
and coffee. And lastly, lots of appreciation for the MAV PCA
volunteers who came early to help set up and leave late to
help with clean-up! Stay tuned for an even better slate of tech
sessions coming in 2019!!
Your mind’s been racing.
Decades of dreaming, fulfilled instantaneously. The iconic 911 Carrera. Legendary
handling, immediate power, and decades of motorsport heritage. It is the full
measure of a sports car. Found only in a Porsche. Porsche. There is no substitute.
The 911 Carrera.
5924 W Plano Pkwy.
Plano, TX 75093
2018 Porsche Cars North America, Inc. Porsche recommends seat belt usage and observance of traffic laws at all times.