Track Day Insurance

[richardg]

Originally Posted by BKarktic3

Been running with Lockton policies for a few years now... find that I'm a much more relaxed/better driver when I don't have to worry about a 50k mistake. Even with 60+ track days and countiing. Looking at picking up a multil event policy this year.

only cost me 125/weekend for my e46M3, and about 325/weekend for my e92M3. Worth every cent in my opinion after watching owners with liens on their cars get flat-bedded to the paddocks where they watch their cars get dropped on their chassis!

That last sentence made me cringe. I have been buying the insurance since I got my e92. I did one event without it and I kept feeling horrible and paranoid the whole time. I have been using ontrackinsurance.com(jacob katz) and they are very nice and kind and helpful. Never had to make a claim though.

[WarrantyTracker]

Things I saw at an HPDE this weekend: Aftermarket wheel on an instructor's car separated from the bolt ring at the spokes (just broke apart), so he was driving on three wheels. Also saw front left suspension on another instructor's car tear free from its mounting, so he was driving on three wheels.

So don't kid yourself nothing bad ever happens at HPDE.

[AustinClarke]

I would not pay for more money. I can pay near 250 for 55,000 coverage for a 3 days track event. thank you.

[Fooshe]

Originally Posted by Kurt_OH

Fortunately I can make no informed comments regarding whether there'd be any struggles to get the promised coverage, but my insurer - Nationwide - provides written assurance that my standard auto policy covers me during HPDE events.

FYI
YMMV

Not in CA.

The big warning I would give anyone on this topic is EACH STATE IS SPECIFIC IN WHAT THEY COVER AND DON'T COVER. I have seen this mistake made many times in that someone in North Carolina says they are covered and someone in NV thinks they are covered because the same company insures them. I have researched the hell out of this because this is what I do for a living and the best advice I can give anyone is READ YOUR SPECIFIC POLICY. If you don't want to or can't send it to me and I will do it for you. There are specific places to look for the answer.

[Fooshe]

Originally Posted by aus

I heard of situations where someone called their insurance company to inquire about HPDE coverage, and the insurance company droppped them right there.

There have been other reports where the insurance company goes to driving events and takes pics of the plates and sends a termination letter if one of their cars is there. This is second hand info from an instructor at at CCA event. He had his plate covered with tape, and I asked him why?

I can confirm that not only is that false, but illegal. The insurance companies have to publish all reasons they can cancel or non-renew your coverage. Being at an event where your policy does not cover you is not one of them.

They can decline to write a policy if they know you are going to do something that drastically increases you as a risk, but the rest of the story is on that has been spread like the one about worker's peeing in bottles of Corona at the mfg'ing plant.

That being said, photos are taken of cars on track all the time and covering your plate does take away one form of identifying your car. There would be nothing from stopping an investigator from going onto to the site of the track photographer and looking at what they shot.

[Fooshe]

Originally Posted by MTROIS

You are completely right and the insurance company forms and websites clearly indicate that the kbb or Edmunds values (ie, current market values) should be used. This is also what I had in mind but just was'n't sure at 100% anymore...

Not really. The method of settlement of your claim is not always spelled out on a website. Look at the policy and read it. All companies use market value. KBB and Edmunds are guides...they even tell you that in their disclaimer. Look at your local market for a like kind of car with similar options and miles on it. The premise is that the insurance company put you back where you were before the loss took place.

[Fooshe]

Originally Posted by KEYON

Does anyone know if Track Day insurance insures you and the other guy, if something were to happen with another car.

I still can't find one and I think WSIB is no longer in business.

I was told that they were bought out by another company in August of this year, but I have not confirmed that.

[jphughan]

Originally Posted by KEYON

Does anyone know if Track Day insurance insures you and the other guy, if something were to happen with another car.

As always, read the policy, but my experience is that HPDE-specific insurance covers ONLY damage to your car, not damage to the track, any other cars, anyone's medical costs, or lawsuits pertaining to any of the above. On the other hand, general insurance policies whose verbiage does not exclude HPDEs (which are unfortunately getting rarer and rarer) typically have the same verbiage for all sections of their policies, which means that if you're covered for HPDEs, you get coverage for your car, property damage to the track and/or other vehicles, and liability insurance. I have Amica Mutual in Texas and their policy still only excludes practicing for or participating in any organized racing or speed contest. While I suspect that wide open track days with no instructors or classes could be construed as practicing for racing (and why I therefore avoid them), a formal HPDE could hardly be considered racing or a contest given that there are no timers, points, rankings, and not even passing without the consent of the lead car.

But again, read your specific policy!

[Kojiro]

Originally Posted by jphughan

A...I have Amica Mutual in Texas and their policy still only excludes practicing for or participating in any organized racing or speed contest. ...

You might want to check with them. I emailed them last month about this because a co-worker believes he is covered. I told them I was interested in switching to Amica for this reason but wanted to confirm with them. I explained what an HPDE was and made it clear that there is no competition or even timing. They called back and said that they "absolutely do not cover this type of event".

[jphughan]

Originally Posted by Kojiro

You might want to check with them. I emailed them last month about this because a co-worker believes he is covered. I told them I was interested in switching to Amica for this reason but wanted to confirm with them. I explained what an HPDE was and made it clear that there is no competition or even timing. They called back and said that they "absolutely do not cover this type of event".

Did you make clear that there were instructors and classes as opposed to simply an open track day, the latter of which is non-timed and non-competitive but could absolutely be construed as practice for a racing event (which isn't covered)? If so and they still said no, ask them to get a written opinion from an underwriter. This wouldn't be the first time that an agent has given an incorrect answer, particularly about HPDEs. If even the underwriter says that it's not covered, I would ask them to explain to me in what way that opinion is backed by the verbiage of the policy that racetrack driving is only excluded if you're "practicing for or participating in any racing or speed contest". Also, are you in Texas? The same carrier can have different policy wordings and exclusions in different states. You could always ask Amica to send you a copy of their full policy that would cover you if you're a prospective customer.

But frankly this is one of those things that I don't want to have a record on my file with them indicating that I called to ask and was told no, because that would make any claim that much more difficult. The policy's wording is on my side, so even if it would be a hassle to get the claim paid, I don't expect that end result to change.

[Gearhead999s]

Now available in Canada.

http://www.trackdayinsurance.ca/

[MPower7]

Any updates on relevant insurance nowadays?

[roastbeef]

RLI corp has been good for me.

[M3MPH1S]

Lockton seems pretty popular with the groups in my area. Never had to file a claim fortunately, but the rate and coverage seems reasonable/on par with other companies.

[redpriest]

I used to use Lockton but they started putting lots of additional exclusions (HPDE-4 NASA not covered, certain tracks not covered).

Switched to RLI. They offer coverage for time trials, which is great. Also, you don't have to find the specific track day organizer - you can specify meaning you can use this policy for private track days.

I cover my e92 for 35,000 and that costs about $200 for non time trial, $240 for. My M4 costs about $600 for non time trial, 1-3 days for $88,000.

[dparm]

Originally Posted by redpriest

I used to use Lockton but they started putting lots of additional exclusions (HPDE-4 NASA not covered, certain tracks not covered).

Switched to RLI. They offer coverage for time trials, which is great. Also, you don't have to find the specific track day organizer - you can specify meaning you can use this policy for private track days.

I cover my e92 for 35,000 and that costs about $200 for non time trial, $240 for. My M4 costs about $600 for non time trial, 1-3 days for $88,000.

Interesting, thanks for sharing the info on RLI.

You're saying that $35,000 of coverage with RLI sets you back about $200 per track day, and $88,000 is around $600? Do they offer any sort of multi-day or season discounts?

[redpriest]

Originally Posted by dparm

Interesting, thanks for sharing the info on RLI.

You're saying that $35,000 of coverage with RLI sets you back about $200 per track day, and $88,000 is around $600? Do they offer any sort of multi-day or season discounts?

200 covers 1,2,3 days. If you're doing 3 consecutive days at the same track it covers the whole thing

[dparm]

Originally Posted by redpriest

200 covers 1,2,3 days. If you're doing 3 consecutive days at the same track it covers the whole thing

Great, but for one-day events, you lose that value proposition.

[rhyary]

what is RLI website?

[roastbeef]

RLI Corp. I just google it every time and it comes up.

[dparm]

I'm actually looking at The Open Track now. They are a bit more focused on high-value policies, but offer full-season pricing which is nice since I get the flexibility to go as often as I want (which also amortizes the premium across more events). Also a slightly lower deductible than the others.

https://www.theopentrack.com/

[redpriest]

Originally Posted by dparm

I'm actually looking at The Open Track now. They are a bit more focused on high-value policies, but offer full-season pricing which is nice since I get the flexibility to go as often as I want (which also amortizes the premium across more events). Also a slightly lower deductible than the others.

https://www.theopentrack.com/

Open Track is great if you don't plan on running any timing devices. I am going through the process of a claim with RLI atm with regards to my E46. $6300 in damages.