Does anyone here have a supplementary policy for track days?

I've checked with my auto Ins. agency and they confirm that policy language has changed and no longer covers any event held at a track, timed or otherwise. They also stated that the market was too small for any carriers they know of to offer anything. I've searched quite a bit and only found one company that offers a policy, but it's not approved to offer in my state (Mass.).

What does everybody risking their daily driver out there do for insurance?

 

Your best insurance is attending a well-run HPDE and developing your own driving skills. It sounds trite, but there is an element of risk in going to a race track and the cost of insurance premiums for a supplemental poilicy is quite high. If you must have one, try K & K insurance, a well-known auto racing carrier in the past.

 

You might also look at the classified ads in SCCA's SportsCar magazine. I thought I remember seeing an ad or two for on-track insurance.

I think the answer to your question about what other drivers do was answered in the question itself - they risk it. I would bet an increasing number of policies exclude any kind of track activity, timed or not. I wonder how many people actually check?

You've discovered one of the reasons that many enthusiasts choose to own a dedicated track car.

 

Thanks guys.

I realize there's an element of risk, and am more than willing to shed a few bucks to help cover it. After watching a couple of M3's eat the tire wall at Limerock I decided to look into it. The one carrier I found had a 1 year policy that would cover 30K for around $600 premium - not bad at all. Since they weren't certified for my state yet (they've got an application in) I never got a look at the actual policy language, but it sounded promising. I'll check with K&K and see if I can get my hands on Sports Car Magazine.

 

You may want to check the deductible on those policies. While it's been awhile since I've entertained this sort of discussion, my memory tells me that most of the time the deductible is $5000 for on-track incidents.

 

I have track insurance. Its from American Collectors (an affiliate of USAA). They have a stated value policy where you state the value, and the premium is quoted as a portion of the value (this allows you to price in the cost of some or all of the mods -- but of course the premium goes up). The deductible is 20% -- so the deductiable also goes up.

I did a policy for $34k and paid about $450. But this covers me for the full year at all track events. Of I have a really bad off -- I would rather be out the $7k of the deductible versus lose everything, or have to make a claim on my regular insurance and get denied and/or dropped. This way I keep me primary insurance out of it.

http://www.americancollectorsins.com/de_quali.htm

 

Skrill - I'm with you 100%, it's well worth it for some peace of mind.

Yup, that's the company I contacted. I want a policy but will have to wait until the state bureaucracy signs off on them 1st.

 

Tim, how did you find out when Mass. is going to sign off on Amer. Collectors Ins.?

 

I spoke to the American Collectors sales guy a few weeks ago. He said that the application was in with the state and they expected approval in a few weeks. He's supposed to call me when it comes through, the sooner the better.

Mass. is a tough market for "regular" auto insurers because the rates are state regulated and most companies don't think there's enough margin there to bother doing business. My guess is the regulatory board will have a hard time factoring the rates for specialty track insurance and it may take longer than expected for the approval to come through.

In the meantime I just subscribed to SCCA RACER Magazine (Thanks Scott) hoping for some idea's in case "Plan A" falls through. I got the American Collectors reference through their ad in Grassroots Motorsports, hoping there's a state approved competitor out there somewhere.

 

I have State Farm insurance and I made my agent contact an underwriter and give to me in writing that my track endeavors on a closed track be covered. Of course it has to be a non-timed event.

 

I am thinking more about this since my friend had an incident at the track last weekend. How does the American Collectors policy work? If you make a claim through them would your regular insurance company have knowledge of it? They state that you must have liability coverage from someone else. Do they not cover damages to others cars if others are involved?

Since I have recently been bit by the time trial bug will they cover that?

 

It is an insurance policy for your car only. You pay for any other damage. I believe that your own insurance is not implicated in the slightest, there is no reason to report it to your main insurance (unless you need to submit a liability claim).

 

Based on my conversation with their sales guy, no TT's are covered either.

 

Who were you speaking with over at American Collectors Tim? I called awhile back, and got passed around to several different people who failed to provide me the answers I was looking for. I then left two voicemails with Orlando Morales, and he never called me back. :shrug:

 

I spoke to Orlando, and he was readily available both times I called.

 

I just got off the phone with someone (forgot her name). She said TT was covered as long as its run within a "Driver Education" event. Not sure if I was getting the sales pitch or not, but everything seemed to be covered, including working as an instructor. The 20% deductable isn't so great though, and only your car is covered. The way I see it, it's only worth it if your car is totalled and no one else is involved. Otherwise you need to involve your primary insurance or sign over the mortgage. It is not a bad supplement to regular car insurance though.
Allstate just added specific exclusions agains any type of driving on a race track, so I'll be switching my regular coverage anyways.
Does anyone have a regular insurace carrier that does not have exclusions for HPDE events? I've heard that amica does not exclude them.

 

Interesting. I specifically asked about TT's and was told no timed events. I'm still waiting for state approval before I can get a policy, but it's definitely in the cards for next year.

 

I checked my 21st Century policy a year ago, and it stated that I'm not covered if I am involved in a "speed contest". The way I interpret it is that means any contest for position or speed.

On another note, I feel safer on the track than driving to and from work. I'm almost certain that I'm going to get rear ended in the near future because I pass by a fender bender nearly every day, and I haven't been involved in an accident in nearly 10 years. I also feel safer because I'm wearing my helmet while on the track vs no helmet on the street.

 

Subscribing for easy look-up.

 

Photo above: Summit Point, WV. 11/19/04

I couldn't agree move. Whether we are talking about driving classes or the drag strip, I can relax once I get to the event. The trip to and from the event with lord knows who on the road scares the beejusus out of me.