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I bought an 03 boxster from a third party in Nov. 07. I was told to get the Porsche warranty from Porsche and they were right. I bought a 3 yr/36K mil warranty (bought the with 31K miles on it). Since then, they have covered the following under warranty:
Xenon ballast and light on the driver side
RMS leak (they saw it when they were checking my clutch and replaced it for free)
window regulator
headlight housing starting to leak
loose parking brake lever
These items would have cost me way more than the 3K I paid for this warranty. My friend had a 02 986 and got the Continental Warranty from the web...saved about 1K from the dealer warranty but when he brought it in to get fixed, they didn't cover anything (this was in Houston). The third party warranty was worthless. Also, he try to cancel it and get a the Porsche warranty instead and they gave him the hardest time about canceling it.
The only thing they won't cover is the top. Things like cuts, tears, wore top, etc. Hope I helped. I recommend getting the OEM Porsche warranty from the dealer. It's worth paying the extra 800 dollars to 1K and not worry whether they'll repair your car.
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