Our insurance partner, Lockton Performance has dug deep to provide cover for high-mileage members.
The thing that sets Porsche drivers apart from the owners of any other sports car is just how much time they spend behind the wheel. From the inception of the 356 in the late 1940s, through the transition to 911 some 15 years later, Ferry Porsche’s vision was always of a car that could and would be driven round the clock.
It was an aspiration that influenced every element of design, from interior packaging to visibility and, of course, peerless build quality and reliability. That some 70 per cent of Porsches ever made are still on the road bears witness to Ferry’s right thinking and its highly effective execution.
As a Club, we’re very aware of the differences an allegiance to Porsche brings. PCGB is the largest and most active owner’s club in the UK, with members champing at the bit to get out and drive. And the unique combination of accessible performance in a viable day-to-day driving package means that these same members tend to drive their cars far more than you see from enthusiasts of other marques.
This is where the occasionally thorny issue of insurance comes in. In April 2013, Porsche Club GB established a scheme with Lockton Performance, a leading broker in classic and performance cars. There are now over 2500 members taking part in the scheme, insuring more than 3000 Porsches between them.
Each month between 50 and 75 new members take up a policy and, although it’s not always in the happiest of circumstances, each year Lockton pays out in excess of £600,000 in claims to PCGB members, processing these quickly and in such a manner that the overwhelming majority of policyholders renew under the Club scheme when the time comes.
But the unique nature of the Porsche community, its determination to drive its cars year-round – to use them on a daily basis, in fact – presents problems for the insurers of specialist and performance cars. In the past this has meant that providing a competitive quote or adequate cover has sometimes been a real challenge.
Lockton has worked tirelessly in recent months to establish new relationships with major insurers and has now developed a new scheme with Aviva aimed specifically at the Club’s higher-mileage members – drivers of both classic and contemporary Porsches who want to get the best (and the most) out of their cars all year round.
After consulting with members about alterations that could be made to the existing level of coverage offered, the new policy covers drivers who rack up in excess of 7500 miles per annum. Commuting & Business Use can be included if you need it, and Aviva provides many of the fantastic features already offered under the Chubb facility.
Even Classic Cars used for higher mileages can be considered. Lockton has negotiated useful features including Guaranteed Courtesy Car in the event of a loss; the option to include cover to drive other people’s cars comprehensively; and owners of brand new cars enjoy three-year new car replacement cover in the event of a total loss.
The existing policy that Lockton offers PCGB remains hugely competitive for members who do not need the higher-mileage option. But for anyone with requirements that were not previously met under the old policy, we’d urge you to give Lockton another try next time your insurance is up for renewal. It’s also worth noting that both Lockton schemes can include members’ other family cars at member exclusive rates.
The Club’s close working relationship with the Lockton team, and their attention to the specific needs of our members, promises some carefully tailored cover for the hard-driving Porsche-phile that should prove very difficult to better.
For more details about the Lockton scheme, call 020 7933 2200, or email PCGB@uk.lockton.com