On- Track Insurance

[w.a.nelson]

At a previous Rally, we were able to purchase on-track insurance. An on-track incident, even in a " non competition" or "driver education" situation is usually an iffy proposition with conventional insurance. Does anyone know of a source for on-track insurance that could be available for NOLA? Thanks.

 

[SMOKDU]

YOUR SOURCE FOR ON TRACK RACE CAR INSURANCE CALL 614-861-3100

Try this the guy. say Mark sent you . I crashed my race car at the track and they paid it off 100%. the guys name is Bill Lutz. this was 2 yrs ago and the founder passed away but i think they still offer it.


http://www.youtube.com/watch?v=sH1UlJ9xOF8

next pass


http://www.youtube.com/watch?v=bef1uHuFY3M&feature=relmfu

 

[fjpikul]

If I remember correctly, the max payout was only $100K. Look at the the old Rally threads.

 

[dpdive]

I had track insurance on my GT for the last year and it has just expired. The insurance was through Colemont which is a subsidiary of Lloyds and I had the car insured for 290K with a 10% deductable. This insurance is no longer available in the US. I have spoken to most every other agent or broker which handles this coverage in the US without success. It seems that there are some programs in the works but nothing definative yet. There are programs with a top limit of 120K but beware of insuring for this amount because an accident with damages of approximately 80% of this amount means your vehicle is totaled and the insurance company would then own it. I don't think most people would give up there GT for 120K less deductable. A good reputable agent should not even insure your car for less than its value.

 

[jcthorne]

Please keep us updated. I am very interested in this sort of coverage for full value if it becomes available at reasonable rates for a few track days a year.

 

[dpdive]

It wasn't all that reasonable. $10,800.00 for 6 events per year although the events could be multiple days. If something should open up I'll be sure to post it.

 

[Biginch Blake]

Here is a company one of the groups I track with uses. Have never used them myself, can't hurt to check them out if you are interested.

http://hpdeins.locktonaffinity.com/Default.aspx

 

[jcthorne]

Pricing looks more reasonable but the event has to be listed with them to apply for coverage.

 

[dpdive]

I also talked to Lockton. 120K max. I have found 2 interesting possibilities. One in the UK and the other here in Illinois. It looks like they would do 150K without a problem if you have a racing or performance driving background. More then that requires approval of the company. I should know by Monday (I am requesting 300K+) and they will insure individual events so you don't have to buy a full year as a minimum. If it works out I'll post the contact info here for everyone.

Hey Blake-I'm bringing Jr. so your pit b.... will be there to help. We missed you at Autobahn last month!

 

[Biginch Blake]

Art, you just made Renee's day. Now she will not need to help hoist fuel tanks and tires LOL.

 

[FENZO]

An on-track incident, even in a " non competition" or "driver education" situation is usually an iffy proposition with conventional insurance.

Is that conjecture or have you personally experienced an issue? Granted, I’ve never had to attempt to collect, but my ins co (State Farm) has guaranteed me the same type of coverage on “non-comp/education” track days as if I were on public roads.

 

[bonehead]

Is that conjecture or have you personally experienced an issue? Granted, I’ve never had to attempt to collect, but my ins co (State Farm) has guaranteed me the same type of coverage on “non-comp/education” track days as if I were on public roads.

Assuming your policy provisions are similar/same as they are in CA, you are correct. State Farm will cover non comp/DE claims. But not for long. They are removing this provision soon, so be sure to check with you agent before you head out to the track and assume you're covered.

 

[FENZO]

Assuming your policy provisions are similar/same as they are in CA, you are correct. State Farm will cover non comp/DE claims. But not for long. They are removing this provision soon, so be sure to check with you agent before you head out to the track and assume you're covered.

Copy, thanks! :thumbsup I'll certainly tag up with them beforehand.

 

[PL510*Jeff]

Just a reminder.....

There is nothing that you will do on a track that will increase the value of your GT.

 

[FENZO]

Just a reminder.....

There is nothing that you will do on a track that will increase the value of your GT.

But everything you do on a track in your GT will increase the value of your life. :wink If you value fond memories. (save balling her up)

 

[jcthorne]

State Farm removed HPDE and Driving School coverage several years ago in Texas. Pretty much says if you are on a track surface, you are not covered. Even a show held at a track could be construed to be not covered under the new language. State Farm is different in different states but I lost this coverage with them long before I got the GT. They did cover non-competition HPDE and schools for many years. Not now, at least not on Texas policies. I looked at moving coverages and none of the other majors do either now.

If you think your regular insurance has you covered, you really need to speak with your underwriting department, not the agent. My understanding was this shift in insurance coverage STARTED in CA due to some track event that went bad.

 

[Ed Sims]

We've had threads many times in the past regarding this topic. I haven't heard anything new here. Safeco Insurance will still cover you if it is not "a competitive or timed event". They covered my claim on the track. It's funny that AAA will not cover you on any track surface even if it's for 40mph parade laps for the cameras but they will cover you if you race on a public road such as the Silver State Classic in NV! No sense there.

Ed

 

[w.a.nelson]

FENZO - Sorry, I missed your question. Yes, conjecture on my part, based on comments here previously and now, as well as the sense that (most) insurance companies would like to stay away from this kind of risk, although my State Farm agent assures me that I am covered as long as it is not a "competition", or "timed" event.

EVERYONE (who may be interested )- I have identified a potential source for coverage - its called the HDPE Insurance Program. The NOLA track is on their approved list of tracks, and the Ford GT Forum is apparently on their list of approved organizations, so it seems like all we need to do is officially notify them of the date(s) and then you could go on line and obtain coverage. I am going to PM Dave and see what I cando to set this up. If successful, I'll post it here and also post another thread saying " Track Insurance Available ".

Thanks for all the comments.

 

[w.a.nelson]

Upon further review, you guys were all right on target regarding State Farm. They now have a clause that specifically excludes our type of event. ( although they too would supposedly cover an incident an any speed on a public road - I agree that's kind of goofy )

Insurance is available at hdpeins.locktonaffinity.com - see separate thread

Thanks for all the comments here.