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Track day insurance

Discussion in 'Tracking & Driver Education' started by Alexcle, Jul 27, 2020.

  1. Cavallino Nero Rampante

    Rossa Subscribed

    Aug 16, 2018
    140
    Full Name:
    ST
    I do not have any experience with this company nor any skin in the game but a two second look at their web page states,

    "Now up to $175,000 max car value coverage
    Save 10% by signing up for 3 or more events at one time
    Save 15% by signing up for 6 or more at one time"
     
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  3. 3POINT8

    3POINT8 F1 Rookie
    Rossa Subscribed

    Jan 23, 2014
    3,081
    Yes ok thats right. I think you have to call to get higher coverage. The 10% deal worked good thats what i got
     
  4. LivingthedreamBAB

    Jan 2, 2020
    96
    Full Name:
    BRIAN BUTT
    This statement is ABSOLUTELY DEAD WRONG at least in the US.


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  5. Ky1e

    Ky1e Formula 3

    Mar 4, 2011
    1,246
    FL
    I currently have 3 race cars, have owned 12 race cars, done tons of HPDE, PCA races, Pirelli World Challenge, SRO and now race in 2 fulltime IMSA series. I would not recommend getting insurance for an HPDE day (or any track insurance) unless you are renting someone else's car and it is required. Drive with-in your limits and be aware of those around you. It is a good check to have. If you are that unsure then hire a coach (much better investment).

    I've never needed it after 100's of track days. Racing is where the contact generally happens and even then insurance is not worth it, that is why insurance co's are in business. Due to the low demand and low volume, track insurance is an even worse value proposition than normal insurances. Insurance is good for covering costs that you cant handle yourself and if that's the case I wouldnt track a car.
     
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  6. 95spiderman

    95spiderman F1 World Champ
    Silver Subscribed

    Nov 1, 2003
    12,133
    ny
    never took a policy and probably 150 to 200 hpde days over 20 plus years. if i do the math on that i guess i made the right decision at 1200/day. remember being shocked at my 1st day at the ring when i was told NOT to wear a helmet. thinking is helmet makes you more likely to drive above your limits than it would protect you from an accident. ive come to agree with the germans and kyle.
     
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  8. LivingthedreamBAB

    Jan 2, 2020
    96
    Full Name:
    BRIAN BUTT
    You must have God on your side. If you are a competitive IMSA driver and through all those events you never total a car (or many cars) that’s a miracle. I am in a similar position experience wise. Accidents happen in HPDE far more than you might think (as a DE chair and PCA VP I see the national numbers and there are LOTS of accidents w totaled cars). Most of the time it is not really the drivers fault. #1 cause of DE accidents by far these days is someone in front of you spilling fluid. I too have been victim of coolant being blow in a braking zone. However with all that said I agree that “you should not put something on track that would be a financial hardship on you.”


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  9. 95spiderman

    95spiderman F1 World Champ
    Silver Subscribed

    Nov 1, 2003
    12,133
    ny
    Imsa? Not me. Just hpde 20 yrs. Bottom line is ins would have cost me over $150k had I bought it but everyone assesses risk differently
     
  10. fatbillybob

    fatbillybob Two Time F1 World Champ
    Consultant Owner

    Aug 10, 2002
    22,630
    socal
    not only is this correct but the real issue isn’t car cost liability. The car is cheap. The real problem is on track liability for injury to another. You cannot buy liability protection. Your home owners policy umbrella does not help. Personal excess liability policy many on track events are excluded. That’s why you track with a big dog with great participant liability coverage stated in their policy like SCCA.
     
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  11. Ky1e

    Ky1e Formula 3

    Mar 4, 2011
    1,246
    FL
    I dont know about HPDE but in pro race series you sign a waiver that you cannot sue anyone and no one can sue you (fellow drivers, series, workers, track, etc). You understand there are inherent risks. Everyone pays for themselves regardless of fault.
     
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  13. 95spiderman

    95spiderman F1 World Champ
    Silver Subscribed

    Nov 1, 2003
    12,133
    ny
    hpde this weekend, the organizers emphasized driver pays for any track damage to armco, tire barriers, etc in event crash. never heard that before other than on n ring.
     
  14. Ky1e

    Ky1e Formula 3

    Mar 4, 2011
    1,246
    FL
    ive been at tracks where they say that, but then the reality is after an incident nothing happened, no charges. I think they do it to keep people responsible. Ive never actually heard of anyone being charged for track damage.
     
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  15. WillskiGT

    WillskiGT Karting
    Rossa Subscribed

    Aug 12, 2017
    237
    Southeast
    For me, buying a track day insurance policy makes sense because of others, not me.

    I've seen way too many incidents where someone blew a motor, dropped coolant, etc. in a braking zone at the end of a 150mph straight. Many of the tracks around here are not FIA Grade 1/1T circuits, so runoff is an issue. Roebling, Road Atlanta front straight, even AMP front straight all have insufficient runoff if there is oil or coolant in the braking zone. You can be a driving god, but there is no way to avoid a crash if that is the case.

    If you have a dedicated race car, I would not get the insurance, but if it's a DD or even a weekend fun car, you had better believe I'm hedging the risk of someone else doing something stupid.
     
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  16. fatbillybob

    fatbillybob Two Time F1 World Champ
    Consultant Owner

    Aug 10, 2002
    22,630
    socal
    Waivers are a thin veil ofter peirced by lawyers. Example autoclub speedway ferrari and porsche gt crash...google it. The ferrari guy had to pay 100k just for following the marshall and being on the track. There was nothing he could have done and made no error other than being there.

    But yeah everyone is in theory on their own.
     
  17. fatbillybob

    fatbillybob Two Time F1 World Champ
    Consultant Owner

    Aug 10, 2002
    22,630
    socal
    That's because organization is a big dog like scca imsa nada etc.. lesser clubs and you might be paying for even the kitty litter bags for your oil leak.
     
  18. PasadenaF430scuderia

    Sep 9, 2012
    36
    Los Angeles
    OnTrackInsurance does not cover cars valued more than $175k. I was told that if I took the insurance and I did have an accident at the track if the cost was more than $122,500 to fix then the car would be written off. My car is a 488 Pista so not something I'd agree to.
     
  19. exoticcardreamer

    exoticcardreamer Formula 3

    Dec 9, 2014
    1,027
    usa
    Full Name:
    doesitmatter
    It's probably the worst thing that you can do (Under insure for track insurance purposes). The insurance company should save you from you.

    If your track insurance is capped at $200K with 10% deductible then maximum payout is $180K. If your car value is $300K then they will pay the $180K and your car is now owned by them. They can pay you up to the max payout but they now own the car. You have track insurance but you really don't.
     
  20. craze

    craze Formula Junior

    Mar 5, 2021
    658
    Melbourne
    Full Name:
    Michael
    Well u arent forced to make the claim
     
  21. 3POINT8

    3POINT8 F1 Rookie
    Rossa Subscribed

    Jan 23, 2014
    3,081
    I see it differently. In my situation they would ensure up to $175k. My 458 and F12 were valued at about $185k and $205k at the time (more now!). So I was hedging my bets a little. I understood if I totaled one (extremely rare) I would only get the $175 less the deductible and would be basically out $20k -$30k or so. I figure it was worth the risk!
     
  22. exoticcardreamer

    exoticcardreamer Formula 3

    Dec 9, 2014
    1,027
    usa
    Full Name:
    doesitmatter
    Yeah, your math is a bit different. A lot of people under insure the car for track purposes (due to insurance max limits or they want to keep the premiums low). The thing they don't know is that the insurance company will own the car if they pay up to the max limit and you will lose title of the car if you accept the payout (example; insurance max is $175K but your car is worth $400K. If the damage is $140K then the insurance company may just pay you the $175K less the deductible and they keep the car).
     
  23. Ianjoub

    Ianjoub Formula Junior

    Dec 22, 2019
    851
    Homosassa, FL USA
    Full Name:
    Ian Joubert
    That is not how it works. Consult an attorney.
     
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  24. exoticcardreamer

    exoticcardreamer Formula 3

    Dec 9, 2014
    1,027
    usa
    Full Name:
    doesitmatter
    Tell us how it works...
     
  25. PMiranda

    PMiranda Formula Junior

    Jul 23, 2004
    410
    Austin, TX
    Just... don't put anything on track you can't afford to write off.
    I'm hoping that after a year of Hagerty covering a couple older BMWs they will write a street policy for my 458.
     
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  26. Borrow’d Mine

    Borrow’d Mine Formula Junior
    Silver Subscribed

    Nov 28, 2019
    526
    Florida
    My weekender 458 is insured with Hagerty. They sell the policy to Essentia or they own Essentia. At least that’s the name on the card.


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  27. jag-oo-r

    jag-oo-r Formula Junior
    Silver Subscribed

    May 27, 2015
    412
    I've been billed for Kitty Litter and Sweepers' time. I have a friend who's been billed for air fence. FWIW.

    As to the larger topic:
    I've been teaching track schools on bikes and in cars since about 1999. The first bit of advice I give every student, is don't take something onto the track that you're not willing to leave without.

    Anything can happen on the racetrack, and it frequently does.
     
  28. BJK

    BJK F1 Rookie

    Jul 18, 2014
    3,505
    CT
    .
    How many (relatively) 'low budget' race teams have been 'wiped out' by being 'taken out' in a crash that was no fault of their own? No compensation, right? Crushing, I'm sure. :(
    (sorry if slightly off topic)
    .
     
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