Bumping this old thread. I'd like to see if anything has changed in the last 3 years for this topic.

 

http://www.ontrackinsurance.com/index.aspx or

http://hpdeins.locktonaffinity.com/ or

http://www.highpointins.com/ <--- apparently they offer regular insurance that does not exclude HPDE's and still has competitive rates. Last I checked earlier in the year it was only offered in NJ with plans to move to other states soon.

I'm sure there are other as well.

 

I was looking at locktonaffinity... anybody deal with these guys before?

 

Used em several times in HPDE 1-3 for NASA and regular run groups in other clubs. They will not cover TT or Racing though, even with a diff policy

 

I'm OK with that, long as they will do HPDEs and other non racing events. Sounds like you'd continue to use them if it wasn't for racing right?

 

The BMW Club recommends http://hpdeins.locktonaffinity.com/

Apparently they have a good program and good customer service. This is what I have heard from other BMW Club members. I have not yet used them myself.

It's important to understand that this insurance is primarily designed as "total loss" coverage. It's useful if your car is totalled at the track. It's not useful for a fender bender. You will have a deductible of 10% ($2000 minimum, $5000 maximum) of the declared value of the car if you file a claim.

 

Since the car is worth about $33k, the most it can be is a $3.3k deductible for a whole car. Honestly, this is all I care about. If it's just a fender bender, I can handle that. But anything over 4k, I'd like to get them to cover.

 

The deductible is in place to reduce the payouts that the insurance company has to make, and to reduce the number of claims they have to process. They would go bankrupt very quickly if they had to pay out for every claim of $2K or $3K.

If you insure your car with a declared value of $33K and it then suffers $4K worth of damage at the track, and you decide to file a claim, you would first pay $3,300 and the insurance company would then pay the remaining $700. Not a very good deal in that scenario. That's why I said the coverage is primarily for "total loss" situations. It's good "peace of mind" coverage to protect against totalling your car at the track.

 

I used them last year, I liked that you could get coverage for just one event I think it was around $140. Also, I think the deductible was only around $1,500.

I checked out another place this year to get a quote, it came back at $1,100 with a $3K deductible. But that was for a year's coverage with up to 10 events which I didn't realize was what the coverage is going to be. Although on a car worth say $15K-$20K, your looking at spending over $4K out of pocket before any costs are covered. Would have to do a decent chunk of damage to get up there, but I guess it all depends on how much peace of mind is worth to the individual

 

Absolutely AWESOME, I have them, will have to check to make sure it is true and will confirm back in this thread

 

Got it, thanks for the clarification. So if there was 12k of damage, it'd definitely be worth it. Thanks

 

Basically Yes. Good backup for worst case stuff, esp if your still making payments.

 

Yah, still owe 15k. So i'd like to not lose all that . I'll be signing up with them today.