Was requesting information yesterday and got this response today:

"I regret to inform you, but unfortunately we have had to discontinued our coverage for Drivers Education Insurance due to the amount of losses over the last year. I would recommend Lockton-Affinity for this type of coverage, as they have a similar product.

HPDE Coverage

I am sorry for any inconvenience.

Thank you,
Kris"

 

Lockton Affinity will be offering multi-event annual coverage (in addition to single event policies) for HPDE this year: http://hpdeins.locktonaffinity.com/P...olicy_1-11.pdf

 

Are there really that many people making claims on these policies?

 

I wouldn't think there were that many people with these types of policies period, let alone making claims.

 

I was very happy with them. Kind of disappointing. I used them last year for a 15 event package, they were very helpful, even when the last two events last year I bought a different car just the track, just had to send them a VIN and picture and transferred the coverage within a day or two.

 

This is Ryan Staub from the Lockton HPDE Insurance Program referenced above. Many people are purchasing on-track coverage and quite a few do have claims.

I am an instructor and participate in many events each year. I typically see 1 wrecked car at every other event I attend. Considering that nearly all standard auto policies exclude on-track coverage and most people can't or aren't willing to write off their car, there is a real need for this type of coverage.

If you have any questions about our program, please visit our website (www.hpdeinsuranceprogram.com) or call us at 866-582-4957.

 

I'll be darned; another DE insurance market bites the dust? I've had good luck with each of the 3 programs I have now used (or rather, they had good luck with me, as I haven't had a claim, knock on wood).
Now all my DE friends will be asking who to go to next.
RYAN - I'm guessing you have a policy sample on your site? I'll take a look. Good to have you folks around and if I recall you have a PCA endorsement.

 

I've seen GT3s, 996 turbos, Lotus Elises, etc. sustain heavy, heavy damage at these events. You are probably biased because finding a shell for all of your 944 bits would be relatively inexpensive. I don't see the point for cars like ours (i.e. shell worth very little, easily replacable, but mods worth a ton) having the insurance, but if I had a car that was the other way around (base car worth more than the mods), I'd probably be seriously interested.

I'll actually be dropping my regular insurace on the track car as soon as the cage is finished up and I get it home and make sure all bugs are worked out.

 

Rick,

Sorry for the delay in my response. Our policy isn't available for download from our website, but please call us and we will be happy to send a sample policy for your review.

Ryan

 

I just finished applying for my on track physical damage insurance from the Lockton company (PCA approved, and 'gottagofast13' (Ryan Staub) is involved, I believe) and am very impressed. Easy to fill out online (if you know your car) and reasonably priced.
For fun, I will read the policy tonight.
Well done, Ryan - thanks for making this available. I'll try hard to never sample your claims handling system.

 

Great, thanks for the feedback! Although the website is a fairly simple design, we put a lot of thought into building a very user-friendly experience.

Hopefully you won't need to "use" the policy, but if something happens we'll be here to help.

 

I've used them, nice people and easy to deal with - although I haven't had a claim yet.

 

I have used Lockton several times and I had a claim last year. Very easy to deal with. Highly recommended.

 

This insurance is almost a no-brainer if you own a pricey street car like a GT3 or ZR1 or something Italian. And it's all a question of pricing. If claims exceed premiums then premiums have to go up. I suppose the biggest challenge to insurers is how small the overall market is, and that means that their actuaries cannot come up with reliable statistics (frequency of claims per policy, and size of claims).

They say, you can't get insurance for a burning building. Actually you can, but the first premium payment will be the value of the burning building!

 

Not to promote myself but your other option is Ontrackinsurance.com is the only fully admitted program in every state, only a 5% deductible, lowest rates in the industry and run by a Rennlist guy , Porsche racer and instructor.