My car delivers later this week and I have been looking at Porsche Canada's protection plans. While I'm waiting for the business manager to email me pricing; I've looked at the protection offered by the various plans:

1. Paint Protection - this covers dents that are smaller than 4" and are accessible to a painless dent removal system. If the paint is damaged, you are on your own. So, I ask myself, what will it cost to remove several similar dents using a dent removal service on my own. I think it would be less expensive than with the coverage. Why? If you don't take care of where you park your car, you are likely to do more than just dent the door - and you'll be paying for paint anyway.

2. Tire and Rim - so this covers damaged tires (unless you drive over a highway repair plate or similar) as well as a bent rim if it results in a rim leak. It will also cover scuffs as long as the repair doesn't require more metal to be added to the repair. So, if you hit a pot hole and total a rim and a tire, you have coverage. If you bend a wheel and the tire still seals, but you have a wobble, no coverage. if you bend a rim and it can't be trued without adding metal, no coverage. So, again, i'm wondering what you coverage for? If I scrape the wheel, I can get it fixed at a local shop for $150.00. The BMW wheels I've had repaired don't show any damage and my leased car return went without incident. So, I'm thinking I would pass on this;

3. Windshield Repair. - Porsche allows unlimited repairs of chips, etc. in the front windscreen and includes one replacement during the life of the policy. My insurance company covers chip repairs at no charge and replacement of the window in the event of a stone hit and crack for my deductible, which is $200.00. So, I think I'd pass on that coverage.

4. Key Protection - this covers up to $800.00 for a lost or damaged key. Based on my past experience, while we've misplaced several keys over the past 10 years (a couple of which were found after the lease return), I think I can make ean effort to keep track of my Porsche keys (at $800 each), so I think I'll pass on this coverage.

So, out of all the coverage Porsche offers on car leases, I think the only one I'd really consider is tire and rim, but only if my deal's policy to to repair/replace ANY damaged wheel due to a road hit (as well as tire). If they stick strictly to the booklet wording that the tire has to be bent to the pint where it won't hold air OR if the policy requires you to make an insurance claim first after which they will cover the deductible, I think I'd skip this coverage. I do have to check into the 20" RS Spyder wheel replacement cost though, because the car has to be returned with 4 good wheels and if I'm told a 20" RS wheel is $3,000, I'd be considering coverage. I guess part of this depends on the roads you drive on. I damaged a 19" wheel on my 2013 BMW 5 series. After having all wheel check and one repaired, I couldn't get rid of a driveline shudder. With Tire and Rim, I might have pursued it until they found the damaged tire and/or rim. As it is, I just left the shudder there for the last year and returned the car.

Thoughts?

 

I pay around $1200 a year to insure the entire car (143,000 value) if wrecked or stolen. $1200 a year for rims/ tires seems high. If the odds were not tilted in the dealers favor, they would not push so hard to sell. I decided to pass.

 

Sounds reasonable. I'll wait to see what my dealer quotes for these packages and report back. if, in fact they charge $1,200/year ($100/month), I'll definitely be passing and "self insuring".

 

Adds $55.00/month to a 36 month lease ($1,980 total). Anyone know how much a 20" RS Spyder wheel costs to replace?

 

https://www.suncoastparts.com/product/SKU95B20RS.html
$1350 each