JohnAlley

Here is the msg. I received today from Adam Boca at NCM about their HPDE insurance program:


"I was just informed (yesterday) that the program for HPDE insurance is on hold while they (WSIB) redevelop the program.

I am very sorry about this turn of events."

Adam Boca
Insurance Agent
NCM Insurance Agency
350 Corvette Dr
Bowling Green, KY 42101

Daniel_Mc

This was a good thing hopefully it will pan out and add coverage for older cars...

dfinke23

Is this the program underwritten by Lockton Affinity?

JohnAlley

No it was with another underwriter, can't remember the name. It was one of the few that you get get multi-event coverage. I had a quote for 2011 and it worked out to about $67 per event for 15 events. With Lockton you can only get single event and it was $147 per event for my car last time I checked. So a BIG differance in cost, hopefully they will get something worked out before the season starts.

dfinke23

I had a multi-event policy from Lockton last year, it was about $300 per event though.

JohnAlley

WOW, seems high I have a 2004 Z06 valued at $28,000 and the $147 per event was the last price I got from them late last year.

dfinke23

I was insuring $70K, so seems to be scaled about right per your quote; I'm always looking for cheaper options though.

Feffman

We've insured our track car wtih WSIB for seveal years now, finding it very reasonable. I hope they get this hammered out before our renewal.

Feff

Brian G

Someone just forwarded me this thread about 10 mins ago... you can't make this up, because I received this in my inbox this morning:

http://www.pukkasoft.com/blog/2011/0...rance-program/

Lockton Affinity announced their multi-event HPDE insurance policy options with expanded US and Canada coverage... today!

mfquinn

Well I am a bit confused. I have a policy with Adam for 20 events for my C6 that I already paid for. He is out on vacation with a new baby so I will have to put a call in to him when he returns on the 18th. I never heard anything back from NCM that anything changed.

Adam Boca

Existing policy holders are fine.....Just not accepting new policies at this time..

mfquinn

Thanks Adam,

And Congrats!!!!!!

Adam Boca

Just to let everyone know, that we, NCM Insurance Agency, are no longer writing HPDE Insurance nor is WSIB. I was informed yesterday that due to the amount of losses over the last year they have discontinued the HPDE PD program.

Any exhisting policy holders will be able to continue the coverage for the rest of their policy period, but the policies will non-renew.

Thanks and sorry for the news!

Adam Boca

oh1vette

Anybody got a lead on other insuance companies that may be offering this type of coverage?

Sidney004

http://hpdeins.locktonaffinity.com/

dvandentop

damn that sucks for people, musta been some pretty hefty claims out there on the track to make them cancel it so soon

TJM

Adam not to rub any salt in wounds or throw any gas on the fire, but is there an account of why?

Claims for people wrecking their own cars?

Or people paying for damage to other things??

TJM

oh1vette

yeah I saw them, don't know if it works this way for all the companies, but judging from thier website it appears these guys have approved events that they'll insure and the one I'm looking at attending at VIR (10/10ths) is not one of them....

Brian G

There are some conditions that the club must meet to be approved but they are not unreasonable. Ask the organizer to contact Ryan Staub at Lockton and they can evaluate if it'll work.

Adam Boca

This coverage was a HPDE Physical Damage policy for the insureds vehicle, so yes to folks who wrecked their cars.

Adam