BMW M3 Forum (E90 E92)

BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Go Back   M3Post - BMW M3 Forum > E90/E92 M3 Technical Topics > Track / Autocross / Dragstrip / Driving Techniques
 
GT Haus
Post Reply
 
Thread Tools Search this Thread
      07-16-2008, 09:19 AM   #1
ihyln
Banned
 
Drives: M3post sucks
Join Date: Apr 2008
Location: M3post sucks

Posts: 3,385
iTrader: (1)

Garage List
2008 M3  [0.00]
2002 530i  [0.00]
Send a message via AIM to ihyln
trackday insurance

Anyone have some insight on this? I'm looking into making sure I'm covered when the time comes.
ihyln is offline   United_States
0
Reply With Quote
      07-16-2008, 09:35 AM   #2
JEllis
Brigadier General
 
JEllis's Avatar
 
Drives: E36 M3, E92 M3
Join Date: Oct 2006
Location: SD CA/Yuma

Posts: 4,579
iTrader: (4)

I have never heard of this... at least not for private owners....

Jason
__________________
http://www.m3post.com/forums/signaturepics/sigpic14547_7.gif
JEllis is offline  
0
Reply With Quote
      07-16-2008, 09:45 AM   #3
man02195
Lieutenant
 
man02195's Avatar
 
Drives: e90 M3 M-DCT, SG-status 111
Join Date: Jan 2007
Location: NC

Posts: 487
iTrader: (0)

Quote:
Originally Posted by ihyln View Post
Anyone have some insight on this? I'm looking into making sure I'm covered when the time comes.
long thread here:
http://www.e90post.com/forums/showthread.php?t=135117
__________________
E90 M3 Sedan | M-DCT | SG | Black Leather | Carbon Leather Trim | Premium | Technology | Enhanced Sound | 19's | Moonroof | Fold Down | Heated | iPod | Parkdist | Sunshade |Week 22 | Just unloaded from Emden | Performance Center Delivery July 17th (Great Experience!)
man02195 is offline  
0
Reply With Quote
      07-16-2008, 10:05 AM   #4
ihyln
Banned
 
Drives: M3post sucks
Join Date: Apr 2008
Location: M3post sucks

Posts: 3,385
iTrader: (1)

Garage List
2008 M3  [0.00]
2002 530i  [0.00]
Send a message via AIM to ihyln
Good stuff. Thanks. As I expected not a lot of clear answers from insurance companies. I'm also afraid of calling mine up to ask.
ihyln is offline   United_States
0
Reply With Quote
      07-16-2008, 10:08 AM   #5
drburton
Lieutenant
 
Drives: e92 M3 Alpine
Join Date: Feb 2008
Location: Minneapolis

Posts: 449
iTrader: (3)

Call up and ask, can't hurt. I tracked my Porsche several times and called my agent (Allstate) and they said I was covered. The only exception being if I was actually 'racing'.
drburton is offline  
0
Reply With Quote
      07-16-2008, 10:17 AM   #6
lucid
Major General
 
lucid's Avatar
 
Drives: E30 M3; Expedition
Join Date: Apr 2007
Location: USA

Posts: 8,034
iTrader: (0)

What an agent tells you on the phone or in-person, and what they decide to do when something goes wrong can be entirely different things.

http://www.e90post.com/forums/showthread.php?t=152124

I have heard that Allstate has covered some minor body to damage to cars in BMW CCA events. But if you total it, they might just deny it, and you might end up in court arguing over the gray items such as what constitutes racing, competition, high risk, normal driving situation, etc...
__________________
lucid is offline   United_States
0
Reply With Quote
      07-16-2008, 01:43 PM   #7
sayemthree
Brigadier General
 
sayemthree's Avatar
 
Drives: bmw
Join Date: Aug 2007
Location: usa

Posts: 4,844
iTrader: (0)

my policy has absolutely no metion of exclusing due to racing or track use?
sayemthree is offline  
0
Reply With Quote
      07-16-2008, 02:39 PM   #8
lucid
Major General
 
lucid's Avatar
 
Drives: E30 M3; Expedition
Join Date: Apr 2007
Location: USA

Posts: 8,034
iTrader: (0)

Quote:
Originally Posted by sayemthree View Post
my policy has absolutely no metion of exclusing due to racing or track use?
Which company? Are there any specific refences to use on public roads, normal driving conditions, risky driving, etc? You surely cannot use the car to jump over buses. There must be some kind of exclusion for high risk scenarios, and reference to "normal" driving.
__________________
lucid is offline   United_States
0
Reply With Quote
      07-16-2008, 04:26 PM   #9
Dascamel
Lieutenant Colonel
 
Dascamel's Avatar
 
Drives: 2008 e92 M3, 2010 e91 328i
Join Date: Jul 2007
Location: Bakersfield, CA

Posts: 1,662
iTrader: (0)

On e90post tons of threads on this. I wouldn't call your agent though.
1) If they you are covered be sure to get it in writing, few cases of people getting burned by this.
2) Carriers have dropped people for asking.
3) There are track specific policies out there based on total value on your car.
4) Read your policies carefully, most of the major providers have clauses that include "high speed" and on a dedicated race track for exclusions.
5) I'm not a lawyer, if in doubt get profesional advice.
__________________
2008 E92 M3 Jerez Black,DCT,Fox Red ext,Prem,Tech,19", ipod/usb, CF roof and trim
2010 E91 328i Space Gray,Black int, M sport, most options
2007 Montego Blue 335i (retired)
Dascamel is offline  
0
Reply With Quote
      07-17-2008, 06:55 AM   #10
Feffman
Grand Poobah
 
Feffman's Avatar
 
Drives: M3
Join Date: Dec 2007
Location: Gateway To The West

Posts: 342
iTrader: (0)

We (www.MVPTrackTime.com) have been searching for on-track insurance to point our attendees to for a while. Through the track day grape vine, we found:

Ryan Staub
Lockton Affinity Insurance Group
PO Box 410679
Kansas City, MO 64141
Tel: 913.652.7588
Mobile: 913.908.7280
Fax: 913.652.4588
Email: rstaub@locktonaffinity.com

It covers on track and you can purchase it event by event. Just an FYI!

Mark Pfeffer
__________________
Feffman is offline   United_States
0
Reply With Quote
      07-17-2008, 07:37 AM   #11
lucid
Major General
 
lucid's Avatar
 
Drives: E30 M3; Expedition
Join Date: Apr 2007
Location: USA

Posts: 8,034
iTrader: (0)

Quote:
Originally Posted by Feffman View Post
We (www.MVPTrackTime.com) have been searching for on-track insurance to point our attendees to for a while. Through the track day grape vine, we found:

Ryan Staub
Lockton Affinity Insurance Group
PO Box 410679
Kansas City, MO 64141
Tel: 913.652.7588
Mobile: 913.908.7280
Fax: 913.652.4588
Email: rstaub@locktonaffinity.com

It covers on track and you can purchase it event by event. Just an FYI!

Mark Pfeffer
Thanks for the info. Has anyone running with your group had experience with filing a claim? If so, do you know if this particular company was responsive?
__________________
lucid is offline   United_States
0
Reply With Quote
      07-17-2008, 10:31 PM   #12
Feffman
Grand Poobah
 
Feffman's Avatar
 
Drives: M3
Join Date: Dec 2007
Location: Gateway To The West

Posts: 342
iTrader: (0)

Quote:
Originally Posted by lucid View Post
Thanks for the info. Has anyone running with your group had experience with filing a claim? If so, do you know if this particular company was responsive?
Lucid:

The program is just out of the box, but Lockton-Affinity in Kansas City has an outstanding reputation in the industry.

Feff
__________________
Feffman is offline   United_States
0
Reply With Quote
      07-18-2008, 10:23 PM   #13
lucid
Major General
 
lucid's Avatar
 
Drives: E30 M3; Expedition
Join Date: Apr 2007
Location: USA

Posts: 8,034
iTrader: (0)

Quote:
Originally Posted by Feffman View Post
Lucid:

The program is just out of the box, but Lockton-Affinity in Kansas City has an outstanding reputation in the industry.

Feff
OK, thanks.
__________________
lucid is offline   United_States
0
Reply With Quote
      07-22-2008, 03:19 PM   #14
sayemthree
Brigadier General
 
sayemthree's Avatar
 
Drives: bmw
Join Date: Aug 2007
Location: usa

Posts: 4,844
iTrader: (0)

Quote:
Originally Posted by lucid View Post
Which company? Are there any specific refences to use on public roads, normal driving conditions, risky driving, etc? You surely cannot use the car to jump over buses. There must be some kind of exclusion for high risk scenarios, and reference to "normal" driving.

not covered:

stuff like nuclear war, terrorism, mold, mildew, etc. doesnt exclude jumping buses.
sayemthree is offline  
0
Reply With Quote
      07-22-2008, 04:30 PM   #15
lucid
Major General
 
lucid's Avatar
 
Drives: E30 M3; Expedition
Join Date: Apr 2007
Location: USA

Posts: 8,034
iTrader: (0)

Quote:
Originally Posted by sayemthree View Post
doesnt exclude jumping buses.
you're all set for stunt driving then if you are ever in the mood!
__________________
lucid is offline   United_States
0
Reply With Quote
      08-20-2008, 08:43 AM   #16
lucid
Major General
 
lucid's Avatar
 
Drives: E30 M3; Expedition
Join Date: Apr 2007
Location: USA

Posts: 8,034
iTrader: (0)

Anyone have experience with this insurance company/broker which seems to be providing HDPE specific coverage?

http://hpdeins.locktonaffinity.com/Default.aspx?cID=31
__________________

Last edited by lucid; 08-20-2008 at 08:59 AM.
lucid is offline   United_States
0
Reply With Quote
      08-20-2008, 08:58 AM   #17
footie
Major General
 
footie's Avatar
 
Drives: ????????????
Join Date: Oct 2007
Location: BMW M3 will get a V6TT

Posts: 7,507
iTrader: (0)

Garage List
2008 E92 M3  [0.00]
If it isn't mentioned on your policy then you aren't covered and what ever the broker says means nothing unless you hear it from the insurer.

I haven't tracked for some years now but back when I did there were specialist companies doing trackday insurance, all in all the price wasn't to bad but it was only third party, so it only covered the damage you did to someone else.

Always find out from the insurer and not the broker, and get it in writing.
footie is offline   No_Country
0
Reply With Quote
      08-20-2008, 09:01 AM   #18
lucid
Major General
 
lucid's Avatar
 
Drives: E30 M3; Expedition
Join Date: Apr 2007
Location: USA

Posts: 8,034
iTrader: (0)

Quote:
Originally Posted by footie View Post
I haven't tracked for some years now but back when I did there were specialist companies doing trackday insurance, all in all the price wasn't to bad but it was only third party, so it only covered the damage you did to someone else.
The link I posted references a broker which seems to offer track day insurance which will cover damages to your own car only. It's about $250 for $40k coverage per event (number of days seems to be irrelevant), which is probably reasonable assuming the car would have salvage value even after most accidents.
__________________
lucid is offline   United_States
0
Reply With Quote
      08-20-2008, 09:42 AM   #19
footie
Major General
 
footie's Avatar
 
Drives: ????????????
Join Date: Oct 2007
Location: BMW M3 will get a V6TT

Posts: 7,507
iTrader: (0)

Garage List
2008 E92 M3  [0.00]
Quote:
Originally Posted by lucid View Post
The link I posted references a broker which seems to offer track day insurance which will cover damages to your own car only. It's about $250 for $40k coverage per event (number of days seems to be irrelevant), which is probably reasonable assuming the car would have salvage value even after most accidents.
That is not too bad at all, to cover your car up to $40K for this little is good value. The sad thing is most people don't do it and the chances of things going tits up on a track are much higher than on the street.
footie is offline   No_Country
0
Reply With Quote
      08-20-2008, 09:58 AM   #20
lucid
Major General
 
lucid's Avatar
 
Drives: E30 M3; Expedition
Join Date: Apr 2007
Location: USA

Posts: 8,034
iTrader: (0)

Quote:
Originally Posted by footie View Post
That is not too bad at all, to cover your car up to $40K for this little is good value. The sad thing is most people don't do it and the chances of things going tits up on a track are much higher than on the street.
Agreed. I am considering using it, but I need info on the underwriter's credibility.
__________________
lucid is offline   United_States
0
Reply With Quote
      08-20-2008, 10:10 AM   #21
footie
Major General
 
footie's Avatar
 
Drives: ????????????
Join Date: Oct 2007
Location: BMW M3 will get a V6TT

Posts: 7,507
iTrader: (0)

Garage List
2008 E92 M3  [0.00]
Tell me, do most of the trackdays you go to are well organised, like do they try and match up driver and car abilities or is it a free for all. In the latter the chance of someone pulling out into a quicker car's path is much greater and accidents are sure to occur.
footie is offline   No_Country
0
Reply With Quote
      08-20-2008, 10:19 AM   #22
lucid
Major General
 
lucid's Avatar
 
Drives: E30 M3; Expedition
Join Date: Apr 2007
Location: USA

Posts: 8,034
iTrader: (0)

Quote:
Originally Posted by footie View Post
Tell me, do most of the trackdays you go to are well organised, like do they try and match up driver and car abilities or is it a free for all. In the latter the chance of someone pulling out into a quicker car's path is much greater and accidents are sure to occur.
I track with BMW CCA, so things are "relatively" safe in those events. But you can still run out of road or spin the car if you push things beyond the car's/your limit obviously, which is what I would like to hedge against. And of course there is the freak accident that is caused by fluid leak on the track, etc. If the quote does indeed cover multiple days at the same event, $250 for 2-3 days sounds very reasonable to me and I would take it for the peace of mind.
__________________
lucid is offline   United_States
0
Reply With Quote
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 05:04 PM.




m3post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST