For anyone that's ever participated in a DE (Driver's Education) event or other High Performance Driving Event (HPDE) with your Porsche (or any car for that matter) you may or may not have been aware of the fact that your typical automotive insurance policy most likely has exclusions for these type of affairs. In fact, most auto insurance underwriters have very broad restriction on using your Porsche on a "surface used for racing", "use at a racetrack", "use in a high performance driving event", etc. Hopefully, you are already aware of this and know the risk you take when you participate, or have not yet learned the hard way.
In the past, insurance for Driver's Education programs, and other HPDEs, was difficult to obtain; if it could be had it was usually quite costly. Recently, the Porsche Club of America announced a new member benefit in the form of discounted HPDE Insurance through a partnership with Lockton Affinity.
This new program provides one-time insurance for each event at an agreed upon value. Obtaining a quote is as simple as visiting the Lockton web-site and entering an agreed upon value into the form provided. PCA members can deduct 10% from the quoted price. As an example, I looked at a policy with a face value of $50,000. According to the Lockton site, cost for this policy was $330 before the 10% member discount which translates to less than $300 for a PCA member.
Other Benefits of the HPDE Insurance Program:
- Limited Exclusions – unlike other plans, we will cover you for structured HPDE events.
- No Appraisal Required – you know how much your vehicle is worth, so we let you determine the value and save you the expense of an appraisal.
- Coverage for Vehicle Modifications – you can choose to list and insure the modifications you’ve made to your vehicle.
- Automatic Extension for HPDE Instructors – the policy follows your vehicle and is automatically extended when your HPDE Instructor is driving it. You can also add a 2nd driver for no additional charge.
- Small Deductible – when you do have a claim, only a small 5% ($1,500 min.) deductible applies.
By no means is this an endorsement for Lockton, as I have yet to use their services, and if I ever do hope not to have to put them to the test (nor am I affiliated with them in any way). However, I will assume that the PCA has vetted them as an underwriter and they are a solid company to do business with.
What I'm most curious about, is what other companies offer this type of service? I'm constantly being asked for recommendations about HPDE Insurance and up until now I've only had one other company to provide people. I would like to create a resource center here on FlatSixes.com, so if you know of other carriers or underwriters who provide this type of coverage, please let me know by commenting below?