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Track Insurance

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And coming on this forum to relate what what it took to finally get that sub-2:00 lap at TWS kind of negates any argument that it's not a speed contest, IMO. Even if you're only competing for your personal best.

 

As someone we'll pays into the insurance pool, I don't think track events should be covered under a regular policy. I'm sure I'm in the minority on this one...

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And coming on this forum to relate what what it took to finally get that sub-2:00 lap at TWS kind of negates any argument that it's not a speed contest, IMO. Even if you're only competing for your personal best.

 

As someone we'll pays into the insurance pool, I don't think track events should be covered under a regular policy. I'm sure I'm in the minority on this one...

Couple trains of thought here.   for the most part, I agree with Tobey.  When you're on track, you're trying to go fast even though you're not "racing".  however, some people do indeed like to just go out and drive around. 

My key factor here is how many people run data and/or lap timers in their cars.  The instant you do that, you're trying to beat the clock- you're racing yourself and putting you and your car at greater risk of an off.  You should partake in track-day insurance.

 

So where do you draw the line between 'making laps and learning' and 'racing against yourself'?

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As someone we'll pays into the insurance pool, I don't think track events should be covered under a regular policy. I'm sure I'm in the minority on this one...

 

I agree with you. It's way outside the scope or purpose of regular auto insurance.

 

robert

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So where do you draw the line between 'making laps and learning' and 'racing against yourself'?

 

Let's be honest, people sign up for an HPDE to learn to drive fast. If it was a teen driving school or "advanced driving techniques" school or something, I'd be on board with insurance covering it. But an HPDE is advertised as learning to go fast. Yeah, the skills learned there do help on the street, but that's not the main goal of the school.

 

robert

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Guest lobster

car insurance should cover the car and what you do with it should have no bearing.  

 

Obviously the more you partake in high risk activities like commuting or driving to the store the more your premiums should be. 

 

If I drive my car 5000 miles a year and more than half of those are on a track my "risk" is lower than someone who drives 25000 miles exclusively commuting. 

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car insurance should cover the car and what you do with it should have no bearing.  

 

Obviously the more you partake in high risk activities like commuting or driving to the store the more your premiums should be. 

 

If I drive my car 5000 miles a year and more than half of those are on a track my "risk" is lower than someone who drives 25000 miles exclusively commuting. 

 

I wonder if we actually did the math between say beltway commuters and those on track if the odds are the same still.....

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I wonder if we actually did the math between say beltway commuters and those on track if the odds are the same still.....

 

It seems safe to assume that the insurance companies have done the math. I doubt they all changed their policies just to upset us.

 

robert

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It seems safe to assume that the insurance companies have done the math. I doubt they all changed their policies just to upset us.

 

robert

You really think so? You don't think they just said "no racing events"?

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You really think so? You don't think they just said "no racing events"?

 

Policies used to only exclude timed events. A number of years ago it changed from timed events to the new wording. I don't really have any insight into the inner workings of insurance, but I guess I find it hard to believe they would have made that change unless it was costing them something. I suppose they probably also have lawyers reviewing contracts every year, one of whom could have just suggested the change. <shrug>

 

robert

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Policies used to only exclude timed events. A number of years ago it changed from timed events to the new wording. I don't really have any insight into the inner workings of insurance, but I guess I find it hard to believe they would have made that change unless it was costing them something. I suppose they probably also have lawyers reviewing contracts every year, one of whom could have just suggested the change. <shrug>

 

robert

both of these..   Insurance companies are run by lawyers and 'accountants' with the express intent to pay out as little as possible (reduce risk) and take as much as possible from their insureds (increase income).  When I inquired with my previous insurance company about additional coverage for my truck, trailer, and race cars, they said " YOU DO WHAT?!" 

"I race cars as a hobby.  can you cover my truck, trailer, and its contents while I'm traveling?"

 

They stated they would cover the truck and trailer under my regular truck policy (because trailer is attached to the truck), but any contents of the trailer falls under homeowners policy (that I had through them as well)--  separate deductible and all, so my $500 dedictible would fix the truck and trailer but I had to pay a separate $2500 deductible for the contents of the trailer.   Any cars would require their own separate insurance. 

 

"OK, can you insure my race car during transport?" 

"No."

"why not?"

"needs to be titled in your name, registered, and tagged."

"That can't happen.  it's a race car and is not street legal.  it isn't registered and tagged and won't pass safety inspection because there are no headlights, horn, or wipers."

"then we cannot cover your CAR."

"Would you cover a dirtbike or ATV or golf cart?"

"Yes."

"Then why will you not cover my race car?"

"Because it's a CAR, and CARS require their own policy and current safety and registration."

"I think we're done here."

 

 

about two weeks later, I received a letter in the mail stating that my policy had gone up by some ungodly percentage due to the excessive risk of insuring me.  I quickly cancelled and went to Farmers, with my trailer, contents, and race cars all covered by Hagerty.  The car is covered everywhere EXCEPT when it's on track.  I can wreck the race car while backing into my grid spot prior to a race, and it's still covered.

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You know....it's probably happened before....and will probably happen again....

Yep.  I backed into the fence at MSRH one time.  there's a little slope to the parking lot near the edges and you can/will roll backward if you don't keep the car in gear or on the brakes.

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I have been doing HPDEs for the last couple of years under the impression I was completely covered. When my insurance agent changed I called her to once again verify this truth only to find out that my policy clearly excludes them. ?
 

Is it safe to say that there are no traditional insurance companies that allow HPDEs in Texas? 

Has anyone compiled a list of track day rates by company? 
 

Thanks in advance. 

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I wouldn't say "none" of them cover, but most of them have gotten wise to the hobby and have modified their policies to specifically exclude HPDE events and whatnot.

I do know there are several companies now that do offer track day insurance policies though.   but since I drive race car (usually in timed events where no coverage is possible), I haven't bothered researching it in years.  they're out there.

 

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Lockton is a popular one. We have the race car, trailer, and contents insured through them. For the race car, it's storage, transport, paddock insurance. It covers damage and theft anywhere except on the track. But they also offer HPDE on-track insurance. No clue what it costs, though.

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Same here with Hagerty too.  car is also insured at 'agreed value'..   I put a value down on paper and back it up with a worksheet (modification list an/or appraisal if a modified street car), and they haven't questioned anything I've put on paper so far on 3 different cars.

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Here are a couple quotes I've pulled so far. All of them assume MSR Dallas for coverage on a $40k car with a 10% deductible. FYI: The "OpenTrack" quote after fees and taxes was $276 and RLI is the same as Hagerty. 

If anyone knows any other HPDE companies please let me know or post a similar quote. 

Still hoping I can find a traditional insurance company that doesn't exclude HPDEs. 

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