Find a different way to show your daughter you love her.
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Are you sure about that?
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My first job decades ago I had this independently wealthy manager, we went to his house for a BBQ and were just marvelling at his house and cars, but there was a Ford Tempo on the driveway and he actually knew and explained that he was trying to get the slowest car for his two teenagers. Slow it was, not sure it was the safest but clearly he knew the mind set of new drivers with fast cars.
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That prob exaggerating however a 16 y/o in a 911 as the primary driver in an LLC w/ now a commercial umbrella & it’s probably be a multiple.
I still think an old 944 would be kind of cool.
Which insurer would be dumb enough to insure this hypothetical LLC?
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This has not been my personal experience
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I’m not talking about extreme cases, just a normal situation. Like 40 yo married male with clean record in white collar business.
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Last year I paid $4500 to Progressive for the commercial auto policy, while the similar coverage on personal policy + umbrella would have been alot cheaper.
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An E&S carrier specializing in sub standard auto with most likely a liability deductible and a very high risk tolerance / acceptance of underwriting loss ratios exceeding anything resembling common sense.
A 4cyl Honda.
It’s the way we all started. 
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i recommend a civic to everyone that asks this. reliable, fun to drive, has enough of the features, and is very safe for when they inevitably crash the damn thing.
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Future earnings can be used to satisfy the judgement. I think that is the biggest risk one can have. If one can afford to buy an umbrella insurance, then they should do it. It is pretty cheap to buy umbrella.
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Crazy suggestion here, but I have my own personal 2019 Volvo S60 T6 Inscription AWD that I need to sell…full warranty until May 23, and you can buy an extended one cheap from Steingold. It has 19,300 miles. 
Just a thought since it’s a super-safe car, really nice, and still not that old…plus, it’s 316 HP, so it has the “fast” aspect combined with the safety she needs, and it’s AWD.
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In cases of negligence, I don’t think an LLC will fully protect your personal assets. I’ve read some stories on bigger pockets about that. I never put my rentals in LLC, I just carried enough insurance to cover any major lawsuits. I think I had about 5 million of coverage for under $1000/year when bundled with my other insurance policies.
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Yes. You are nuts. Think back about how you drove when you 1st got your license. Then play “what if.” Obviously the money doesn’t matter to you for vehicle purchase price or insurance premiums. I’m sure you so care very deeply about your daughter’s safety and the safety of other drivers & pedestrians on the road.
You have the money to buy your daughter a new car, god bless you. You have the money to buy her a used Porsche, more power to you. Get her something slow and safe like a naturally aspirated Subaru Legacy, Outback, or even a Crosstrek with the 2.0 (you can even get these in a stick). Spend your money on driver training for her. Your local BMWCCA chapter should have a Teen Street Survival. That’s a great way to start to teach her how vehicle dynamics work, how to control a vehicle in panic situations whether they be braking or accident avoidance. Next move on to something like Skip Barber driving school.
When I got my license in 1992, my Dad had a 1966 427 Corvette in the garage (that he still owns). I’ve had posters on my wall and have been a “car guy” all my life. I wanted a Fox Body 5.0 Mustang and my friends wanted V8 Powered Camaros, Firebirds, & Trans Ams. Insurance rates back then were insane for those cars. Thinking back to how we drove our respective 1992 Beretta GT (mine), 1992 Accord EX Coupe (which then became a 1993 Accord EX Coupe after it was smashed up), and 1992 Prelude Si, I’m glad we didn’t get those early 90’s V8 pony cars.
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I got myself a manual F82 for my 18th, I’m also an idiot.
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I know this is a complete joke. But have your daughter sit in a 996 or 997. Then have her sit in a new Camry or Rav4. There’s no way she’s gonna want that ancient Porsche.
When all her friends pull up in their newer economy cars with Bluetooth, Apple CarPlay, SiriusXM and a usable backseat and trunk. She’s just gonna be saying, “But look at my Porsche!” I’d love to have a 997 GTS right now, but definitely not as my only vehicle.
Brand new Camaro/Mustang 2023 > 2001 Porsche with crap safety standards.
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You can add carplay to just about any car. Point taken though.
Re: “when I was young I was insane” comments, the very day I had my license at 16, like literally 2 hours into my driving career I was doing 100 MPH on the freeway in my mom’s Volvo., with some friends there to take it all in. Which shows that you don’t need a sports car to me crazy. Luckily we now have graduated licensing in my state, so for the first year, new drivers can’t have anyone other than immediate family members in the car with them, who are under 18.
Consensus is I’m nuts. And I guess I am. Oh well, sorry kid, looks like a Camry is in your future
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