K&K Insurance Group recently announced the launch of a program offering off-track physical damage coverage for competition motorsports vehicles through the Internet.
The program is accessible through K&K’s newest insurance website,
www.motorsportsinsurance-kk.com, and allows retail agents to quote and purchase coverage online, receiving coverage documents immediately via email.
The off-track coverage protects competition vehicles from physical damage losses related to fire, theft, trailer upset and most other physical damage claims. Additional items, such as spare parts, tools and equipment, can also be covered.
Coverage goes into effect while the insured items are stored and transported to and from events and while in paddock or garage areas. There is no coinsurance requirement.
Minimum premium for the online product is $750. Limits of up to $250,000 are offered, including a maximum limit of $100,000 of coverage per individual competition vehicle.
Agents who purchase coverage for clients through the new website earn 10% commission. No prior agent appointment or agreement is necessary to purchase coverage through the group’s e-commerce websites.
Coverage is offered on an admitted basis in all states, and is provided through an insurance carrier rated “A+” by A.M. Best Company.
