Just got back from another Drivers Education weekend at BeaverRun on Ohio, PA border. The e46 is a great car for this.
You've overstated the case quite a bit. I do 2-4 events a year and my experience is more like this: tires every 2 years- thats sticky tires that don't last too long anyway; front pads every 3 years; now days gas is higher- cost about $30 to fill and I did that twice. Never had any other problem with the car related to so called track "abuse."
I'm in the A or experienced group after maybe 20 events total. Novices will start in D or C and will be much less hard on the tires, brakes etc.
I can honestly say I've only seen a handfull of students spin of the track, never a
"crash". The crashes are usually instructors or racers, practicing, that are no longer doing the what is taught in the classroom.
As for insurance, I've not heard of any claim being denied. They may drop you after, but they pay. So don't need it, stay on the track...
Again, I encourage all to try it, what ever the car.