K&K Insurance Group, Inc., a subsidiary of Aon plc has launched a new program offering off-track physical damage coverage for competition vehicles via the web. The program, accessible through K&K’s newest insurance website, www.motorsportsinsurance-kk.com, provides agents with the ability to quote and purchase coverage online and receive coverage documents immediately via email.
Agents purchasing coverage through the new website earn 10 percent commission; no prior agent appointment or agreement is needed to purchase coverage through K&K’s e-commerce websites.
K&K’s off-track coverage protects competition vehicles from physical damage losses due to fire, theft, trailer upset and most other physical damage claims. Other items that can be covered are spare parts, tools and equipment. Coverage is provided 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 up to $250,000 are offered, including a maximum limit of $100,000 of coverage per individual competition vehicle.
Coverage is offered on an admitted basis in all states and provided through an insurance carrier rated “A+” by A.M. Best Company.
K&K Insurance Group, Inc., is a managing general underwriter offering insurance products and services to the sports, motorsports, recreation, leisure and entertainment industries.
Topics New Markets
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