The 2020 Taycan is Porsche’s first all-electric sports car, and early testing suggests the Taycan is every bit of high performance as the brand behind it. The Taycan will first be released in two higher performance models, the Turbo and Turbo S at $150,000 and $180,000 respectively, with more standard models to be released after 2020.
As a sporty electric car, average monthly insurance rates are expected to be between $300 and $400 a month for a standard policy. Based on the $150,000 price tag for the Taycan Turbo, this gives it an annual insurance cost-to-base ratio of around 3%, which is slightly below the national average of 4%. Filter car insurance companies by your state to get a quote.
The following factors will determine vehicle-specific rates for the Taycan, though your final rate will also depend on your personal factors, such as your location and driving history.
Body type. The Taycan is an electric luxury sedan, which means the body type will fall under a more expensive rating category compared to a crossover SUV or standard sedan.
Fuel. The all-electric Taycan has a reported range of between 225 and 275 miles, depending on the battery type selected. Charging time will again depend on the charger selected, but can go from 0% to 80% in 20 minutes on a 270kw charger. While you’ll save on gas money, electric battery components can be more expensive to fix, causing a slight increase in insurance costs.
Theft rates. Porsche enjoys low theft rates across its many luxury models. The carmaker successfully petitioned the Department of Transportation for an exemption on the Federal Motor Vehicle Theft Prevention Standard for the 2020 Taycan, due to its antitheft features. An exemption like this is a good sign that it’s a secure vehicle.
Maintenance. Average annual maintenance costs for standard Porsches are typically around a few hundred dollars. Electric vehicles generally have lower maintenance costs than gas-powered vehicles, so you can expect to pay the same or less.
Coverage. At a price over $150,000 for the Turbo and over $180,000 for the Turbo S versions, you’ll probably want to put as much coverage as you can on the Taycan — which includes comprehensive and collision coverage. You might also want an agreed value policy, which guarantees you the full value of the car without depreciation if it’s totaled.
Warranty. The Taycan is covered by a standard three-year warranty, and the battery is covered under a separate eight-year warranty. Porsche also includes free roadside service in the warranty, so you can skip it on your insurance policy.
Manufacturer offer. There isn’t a manufacturer offer yet on the Porsche Taycan, though there will be a cheaper model of the Taycan released after the Turbo and Turbo S for around $90,000.
Yes, it does qualify for vehicle-specific safety discounts, although the availability varies with each insurance company.
Electric vehicle
Active restraints
Passive restraints
Airbags
Antilock brakes
Automatic emergency brake
Antitheft device
How reliable is the Porsche Taycan?
The Taycan doesn’t have any official safety or reliability ratings at the time of this writing, and likely never will due to its low volume. However, Porsche is known for making reliable cars.
Safety. The Porsche Taycan has many safety features that may help alleviate any concerns over a lack of official safety testing. Some of these features include automatic emergency braking, driver-assist features, active lane control, night-vision cameras and a surround-view camera system.
Reliability. The Taycan model should enjoy good reliability marks, due Porsche’s history and reputation. Its gas-powered cousin, the Porsche 911 GT3 RS Coupe, scored a 92 out of 100 for quality and reliability from J.D. Power and a 95 out of 100 overall.
Recalls. Porsche has issued some recalls on a few of its models between 2010 and 2017, so a recall on the Taycan isn’t out of the question.
Bottom line
The Porsche Taycan is the first all-electric sports car offered by Porsche. Its advanced safety features could give you multiple discounts on your car insurance, and Porsche’s overall reliability ratings and low theft rates help keep rates down on the Taycan.
To find the best deal on insurance for your Taycan, compare discounts and options from different insurance companies.
Frequently asked questions about the Porsche Taycan
The two electric cars share many similarities, but the obvious differences are that the Model S has a larger range at slightly under 400 miles compared to the Taycan’s 225-275 range.
Both share similar acceleration capabilities of 0 to 60 in under three seconds, but the Taycan is reported to be superior in its high performance handling.
The low sales volume compared to standard vehicles is the main reason, but the location of those sales is also a factor.
The USA is Porsche’s lowest volume market, at 55,000 sales in 2017, according to data released by the carmaker. Porsche has higher sales volume in Europe and Asia, meaning the company doesn’t need to seek out official US safety ratings.
The future versions of the Taycan are expected to cost less and won’t be quite as high performing as the Turbo and Turbo S, though they might offer a higher driving range.
Andrew Flueckiger is a licensed insurance agent and Certified Insurance Counselor with experience in insurance and finance. A graduate of Indiana University, Andrew contributes a wealth of knowledge and experience to Finder. When Andrew isn’t writing, reading or practicing insurance, he can be found spending time with his family and playing the guitar.
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