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insurance for November track day at Sebring
- Thread starter Stewart W
- Start date
Just a suggestion, check with your auto insurance. Some companies will cover HPDEs. I'm with State Farm and they cover them because it's driver's training.
I checked with Auto Owners - no coverage.
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I checked with Auto Owners - no coverage. Anyone taken out the Lockton coverage? How much was it?
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I have used Lockton many times. The cost depends upon how you want as the agreed value for your car.
For example, on my '96 with an agreed value of $45,000 and a 10% deductible it would be $317.55 for the event. A 15% deductible would reduce the premium to $295.47 so it wouldn't make sense to lose the extra 5% for only $22.
You always need to decide what risk you want to assume and what you want to insure. If you are worried about a total loss then set the agreed value higher. If you think you are willing to risk that an incident would be less than a total you might want a lower agreed value to save on the premium and reduce your deductible. A $45,000 value means I would have a $4500 deductible. A "minor" incident might result in $10k damage so I would only get $5500. If I value my car at $30k under the assumption I won't total it then my deductible would be only $3k and I would get $7k in payments from Lockton.
As with any track event, each owner needs to assess how much of a risk they are willing to assume and how much they want to insure against a risk.
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Monthly bump as we near NSXPO 2016. Although insurance is not required for attending our HPDE and each person has to weigh their own willingness to assume risk of damage, it is recommended that every HPDE student check with their insurer to see if they would be covered (most won't cover it) and then decide if they wish to use a company such as Lockton.
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