986 Forum - The Community for Porsche Boxster & Cayman Owners - View Single Post - Self insuring... a continuation of "an observation" (long)

Onad · 02-09-2005, 04:15 PM

This thread is somewhat of a continuation of the “an observation” thread.

There was a lot of good detail regarding what Boxster owners are spending on an annual basis for both regular maintenance and unfortunate surprises in the referenced thread. In order to mitigate the risks associated with an out of warranty Boxster some have bought extended after-market warranties, while others have “self-insured” by setting aside rainy day funds.

I’d be interested in hearing opinions on what amount of money should be put aside to self-insure. Obviously it depends on the year, condition, and mileage. With that said, let’s assume that regardless of model year, the Boxster is in good condition and has been driven 8-10 K a year.

Assuming you want to cover surprises and regular expenses (brakes, tires, and oil changes) over two years I was thinking the following:

2000 and 2001: A reserve fund of $3500
2002: A reserve fund of $2500 (8-14 months factory warranty remaining)
2003: A reserve fund of $1500 (15-24 months factory warranty remaining)

What do you think? Is this overly cautious or not cautious enough? Averages are the important thing here. Obviously putting aside 10K for an engine replacement would be great, but not practical. Discuss...

02-09-2005, 04:15 PM	#1
Onad Registered User Join Date: Mar 2004 Location: DC Metro Area Posts: 61	Self insuring... a continuation of "an observation" (long) This thread is somewhat of a continuation of the “an observation” thread. There was a lot of good detail regarding what Boxster owners are spending on an annual basis for both regular maintenance and unfortunate surprises in the referenced thread. In order to mitigate the risks associated with an out of warranty Boxster some have bought extended after-market warranties, while others have “self-insured” by setting aside rainy day funds. I’d be interested in hearing opinions on what amount of money should be put aside to self-insure. Obviously it depends on the year, condition, and mileage. With that said, let’s assume that regardless of model year, the Boxster is in good condition and has been driven 8-10 K a year. Assuming you want to cover surprises and regular expenses (brakes, tires, and oil changes) over two years I was thinking the following: 2000 and 2001: A reserve fund of $3500 2002: A reserve fund of $2500 (8-14 months factory warranty remaining) 2003: A reserve fund of $1500 (15-24 months factory warranty remaining) What do you think? Is this overly cautious or not cautious enough? Averages are the important thing here. Obviously putting aside 10K for an engine replacement would be great, but not practical. Discuss...