Porsche Financial Services has introduced an in-house, pay-per-mile auto insurance program in Illinois and Oregon to supplement its leasing and financing program, according to a company release.
The program, developed in partnership Atlanta-based pay-per-mile insurance company Mile Auto, will allow drivers to submit their mileage via a photograph of the odometer once a month rather than a tracking device or an always-on app. In addition, the program will include a claims concierge, access to genuine Porsche parts, diminished value coverage, and agreed value coverage.
The insurance program will be available to Porsche vehicles produced from 1981 to present day. The captive has plans to expand the insurance program in the future, although it did not provide specific details.
Neither Porsche Financial Services nor Mile Auto was available for comment at press time.
Source : AutoFinanceNews
