American Collectors Insurance announced its new Driver's Education program for sports car enthusiasts. The program provides specific, Agreed Value coverage for vehicles used in Driver's Ed events. Coverage extends to vehicles in storage and in trailered transit to and from Driver's Ed events.
Cherry Hill, NJ (PRWEB) July 12, 2005 -- American Collectors Insurance announced its new Driver's Education program for sports car enthusiasts. The program provides specific, Agreed Value coverage for vehicles used in Driver's Ed events. Coverage extends to vehicles in storage and in trailered transit to and from Driver's Ed events.
"Driver's Education" is a club-sponsored, safe driving program designed to help sports car enthusiasts become better, safer and more consistent drivers, both on the track and off. The Porsche Club of America and the BMW Car Club of America are two sports car clubs that hold the popular Driver's Ed events throughout the year, at tracks all over the country.
Drivers who participate in Driver's Ed with their high-performance vehicles will want to purchase a Driver's Education Auto Physical Damage policy to cover loss or damage, since standard auto insurance can often exclude damage that occurs while on-track.
The Driver's Ed policy pays for:
.Damage arising from Driver's Ed events - Driver's Ed insurance gives drivers peace of mind and helps insulate the family auto policy from any problems and/or potential rate increases resulting from on-track loss or damage.
. Replacement parts of like kind & quality - Unlike standard auto policies that pay for a part's functional equivalent, Driver's Ed insurance pays for replacement parts of like kind and quality.
.The cost of using "expert" repair shops - Most standard auto policies pay usual and customary labor rates; however, Driver's Ed insurance covers the cost of using an expert repair shop.
.Pays claims on an "Agreed Amount" basis in the event of total loss -Standard auto policies tend to pay "Actual Cash Value" (ACV), or replacement cost minus depreciation, while American Collectors pays the Agreed Value, or the full insured vehicle value in the event of total loss, with no depreciation (minus any applicable deductible).
The program provides physical damage (comprehensive and collision) coverage only. Liability coverage is not available. Operators of the vehicle must have at least 10 years driving experience and permission to drive the vehicle. The Driver's Ed program is currently available in CA, CT, FL, GA, IL, MD, MI, MN, NC, OH, PA, WA, and WI. Other state filings are pending.
About American Collectors Insurance
American Collectors Insurance, an industry leader and innovator since 1976, specializes in insurance for collector vehicles and collectibles. Based in Cherry Hill, NJ and licensed in 48 states, American Collectors offers products directly to consumers, as well as through independent insurance agents and brokers. For more information, visit www.AmericanCollectors.com or call 800-620-9223.
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