Track Insurance

[Ed Sims]

I did a search on the forum but couldn't find my answer. I have checked with Hagerty, RLI, Open-Track, Xinsurance & Chizmark Larson. They all offer single day stated value coverage for open track events but limit it to $400K max (Open-Track was the exception with $500K). Does anyone know of a company that will go to a higher max? Or are NGTs, 918s, Sennas, P-1s, etc a poor risk on the track?

Ed

 

[fjpikul]

They are a poor risk and the companies don't want to cover. Make sure they know you are not talking mustang.

 

[twobjshelbys]

Did you check with Drew at Classic?

 

[maxemus]

I was quoted 6k for a three day event but coverage was only 1 mill.

 

[Ed Sims]

I was quoted 6k for a three day event but coverage was only 1 mill.

I only want $850K coverage for one day. Can you tell me who you spoke with?

Ed

PS Drew is checking for me but he first sent me to Open-Track.

 

[Alan Brynjolfsson]

Insuring your own car for the track is a waste IMO. Most of the time track insurance is used when you are using or someone else's car and the require you to have it. For yourself in your own car, just dont crash the car. Since you are not racing, it shouldn't be hard to do.

 

[maxemus]

Ed
It’s open track. That’s the company Drew works with. All you do is go on line and boom.

 

[68Rcodeman]

Ed
It’s open track. That’s the company Drew works with. All you do is go on line and boom.

Ernie, That's not the phrase I would use while discussing this matter. Boom!

 

[Sinovac]

Insuring your own car for the track is a waste IMO. Most of the time track insurance is used when you are using or someone else's car and the require you to have it. For yourself in your own car, just dont crash the car. Since you are not racing, it shouldn't be hard to do.

That’s an interesting thought process you have going on there.

 

[jaxgt]

Insuring your own car for the track is a waste IMO. Most of the time track insurance is used when you are using or someone else's car and the require you to have it. For yourself in your own car, just dont crash the car. Since you are not racing, it shouldn't be hard to do.

if only it were that simple. I dont think most intend on crashing

 

[Drew@ClassicAuto]

Gentleman, let me get some clarity on some things with OpenTrack and I am talking with another broker that does Track specific to see what other options might be. Will post something soon after I have some answers.

 

[Ed Sims]

Insuring your own car for the track is a waste IMO. Most of the time track insurance is used when you are using or someone else's car and the require you to have it. For yourself in your own car, just dont crash the car. Since you are not racing, it shouldn't be hard to do.

Alan - I don't intend to crash on the track, but just like on the road, someone could crash in front of you or someone could crash into you. Insurance is for these unintended, unpredictable incidents. And, yes, one could simply not drive the car on the road or track & avoid the need for insurance. But that's not why Ford chose us to have the honor of ownership.

 

[Ed Sims]

Ed
It’s open track. That’s the company Drew works with. All you do is go on line and boom.

I went online & also called them. The max amount doesn't even cover how much I paid for the car let alone it's value.

Ed

 

[daytrayd]

Insuring your own car for the track is a waste IMO. Most of the time track insurance is used when you are using or someone else's car and the require you to have it. For yourself in your own car, just dont crash the car. Since you are not racing, it shouldn't be hard to do.

Tell that to the Mclaren guy who just t-boned you in turn 1 cause they wanted to prove they are faster than you. Seen it...

 

[twobjshelbys]

I went online & also called them. The max amount doesn't even cover how much I paid for the car let alone it's value.

Ed

That isn't new. It was also the case when I checked at Rally 9...

 

[fjpikul]

I told you so.

 

[SPI]

Which event and what track would you be running with ?

What run group would you be in ? Beginners, intermediate, advanced group ? How much seat time have you had with any car and how much time have you had on the GT?

There are so many factors that dictate how much risk you take on the track.

The best thing you can do is minimizing risk on top of the insurance .

I have run my own private track events and coached HPDE for 12 years nationwide . I have seen a lot of expensive mistakes .

 

[Drew@ClassicAuto]

All,

Over the last week or so I have looked into this in-depth as has Mr Sims.

Here is some info BELOW from the founder of theOpenTrack on his program offering. It is possible that when Ernie quoted with them he may have been looking at the liability which they do offer $1mill and $2mill. The drop down on their online tool only goes to $500k in maximum value. I talked with another agent who specializes in on-track and he had no recommendations over $500k of insured value. Its possible you could get an underwriter in another program to relinquish if you were doing multiple events, etc. Any suggestions/other options known please respond

- We are the only program that offers Annual, unlimited-use coverage. Pay once and drive unlimited for 12 months. If you're tracking 8+ days per year this is likely the best value. Carries just a 5% deductible for cars < $350K in value - - 10% for cars > $350K in value.

- We are the only program that allows people to pay per day vs. per event w/ our On-Demand Daily program. With the other programs, you pay the same rate if you track 1 day or 3-4 days. With OT, you only pay for what you use. Drive 1 day, pay for 1 day. If you're doing less than 8 days per year, this is likely your best value. All on-demand policies carry a 10% deductible.

- We write up to $500K in value. No other offering will go above $175K in coverage

- We don't recommend anyone insure a car that is way more valuable than the coverage limit b/c if the coverage limit is "totaled" then we take possession for salvage.

 

[DakotaGT]

- We don't recommend anyone insure a car that is way more valuable than the coverage limit b/c if the coverage limit is "totaled" then we take possession for salvage.

Ooh. I don't like that last sentence at all.

 

[Ed Sims]

It's true. I have spent the last 2 weeks speaking with every insurance company on the web - even Canadian companies. There are a few that cover up to $500K but many don't. The cars they are looking at are 911s & 488s. I was told that 918s, P1s & La Ferraris are not covered "if you can afford those cars you don't need insurance". I guess the NGT is in the latter group - we don't need insurance. LOL. I'm still driving on the track but hopefully nobody runs into me.

Ed