I am starting to research and get quotes from some insurance companies that provide physical damage coverage for driver education events. Do any track junkies out there have any experience with this type of coverage? Or perhaps recommend a reputable source?

 

I would like to know about this as well.

 

Anybody?

 

I talked with my agent about this, and he e-mailed the underwriter. The response was that the car can be tracked, but not raced - timed events/wheel to wheel are out of question.

Note that this is what my insurer SAID - you should read every word of your policy and look for interpretation from a reliable source before you go out.

 

There is track insurance .It based on the stated value with a large deductible.
google you'll find some companies .

you regular policy may cover you depending on you company as stated above for DE. if ask they probably say no. if you make a claim and they cover it be prepared for a protracted investigation ...Ask Me how I know !
Elliot

 

http://hpdeins.locktonaffinity.com/

Signed up with them once, but had to cancel that track event. They refunded my money minus a fee.

 

After inquiring from two companies it seems the cost is roughly 3% to 4% of the agreed upon value of the vehicle for a policy that will cover up to 10 events over the course of a year. The link listed by justinmm2 seems very interesting. The company provides coverage for PCA and BMWCCA events plus others on a per event basis. The cost is the same whether the event is 1,2, or 3 days. You can apply online and pay by credit card.
The only drawback I saw was the deductible would be 5% of the agreed upon value of the policy with a minimum of $1000. A quick quote done online for a value of $90000 returned a cost of $530. Not bad for a three day event I thought.

 

try this

http://www.laurelde.com/
or look at this

, 08:02 PM #1 Chris L.
Addict
Rennlist Member



Join Date: Mar 2005
Location: North Carolina
Posts: 489


Follow Up to Seth's Track Insurance thread MUST LOOK
Tell me if anyone else is familiar with this.

I have been reading with interest the thread started by Seth regarding an alternative to Laurel for track insurance. I felt that this program offered by Chris Maume with Snellings Walters seemed like a good alternative.

I have been in contact with a company in Raleigh, N.C. by the name of Ellington and Associates.(919-782-8855). They are offering a program that is underwritten by Fireman's Fund for our cars.

Their coverage is for the vehicle while on the street, while being towed to and from the track, while in the paddock and on the track itself. (Unlimited track days, replacement cost coverage and unlimited towing). They will even cover timed events! Their real only stipulation is that they cannot cover for any timed event in which an individual receives compensation for winning. That has not happened to me yet except for an occassional "at a boy...here's a beer for you." According to her, club racing is no problem.

They have talked with Tom Bobbitt and are currently making the rounds to many PCA/BMW chapter meetings and track events. They planned on being at VIR this weekend but Erica is not feeling well.

Erica Rasmussen is the contact. They insure in 22 states currently (N.C. is one!!!!) I have seen NOTHING on paper but she is sending it to me.

As an example:

My friend is looking to get his new 997 GT3 covered when it arrives in 2 weeks. Are you sitting?

For this expensive car he was quoted $1634/year with a $1000 deductible and $2215/year for a $100 deductible!!! I don't know if that is representative of a "substantial" savings she said could be realized if you added other vehicles to the policy. You can just insure the one however.

Since this is ALL the coverage one would need for their street/track cars you could just drop your car from your current policy. (Scary huh?)

Cup cars are covered she said as well!

Does ANYONE know of ANY reason to question this?
__________________
Chris

1999 996 GT3 Supercup
Last edited by Chris L.; 03-14-2007 at 08:40 PM.

 

I called my State Farm agent today and they said as long as it is not racing, it would be covered... Seems like there may be some gray area with what is considered racing. I need to pull my policy and see how it is worded exactly... Anyone have any experience with a DE claim on your normal insurance?

 

The links both die for me. Anyone have working links. Tom, this is hugely good news if true.

Jeff

 

I spoke with Erica at Ellington & Assoc. and she informed me there is a drivers ed program in place. However they are a broker and it is underwritten by Lloyds of London. She further explained it is a yearly policy for unlimited events. She said she was under the weather and would have another gentleman contact me with an application but three days later I am still waiting. I will keep you posted as to the results.

 

I've used Lockton's program several times. Its by event and you can state the value of the vehicle including any mods you would like insured. I also know someone who has had to go through the claims process with them and so far (from what I know) it has been a smooth transaction.

This program is only good for HPDEs....not NASA or time trial type of events...

 

A few years back, I rolled my '87 911 at Mid-Ohio in a DE. Trailered it back home, called my State Farm agent, and the conversation went like this:
"I need to make a claim for damage on my car," I said.
"What happened?"
"I went into a turn too fast, left the pavement, and rolled over in a gravelly area."
"Any injuries?"
"No"
"Where did this happen?"
"Lexington, Ohio"
"Was there a police report?"
"No"
"OK."
I was prepared to tell her it was on track at a DE if she had asked, but she didn't.

That was it, until I got an estimate for repair that was getting close to the value of the car. They sent a claims agent out to look at the car. He looks in the car, sees the harnesses, roll bar, and a lot of gravel . Then he looks around the garage and sees racks of tires, and other paraphenalia not normally associated with street vehicles. He looked me in the eye and said, "This isn't a car - it's a toy, isn't it?" I said yes, and he asked me "You want to keep it or not? I'll work the numbers for you."

Got it fixed ($14k, all I paid was the deductible), drove it for another 3 years, then sold it in 2006 when I bought the 996TT. I lost my "no accidents" discount on that car, but otherwise no rate change. I recently saw the car again on AutoTrader.

Jon

 

Usually the policy will have an exception for competetive racing or timed event.
When I made a claim with my company they required a statement from our club (CVR PCA) describing the conditions of the event .

They paid.
Elliot

 

Sorry to hear some had to file a claim - that is never a good thing. I appreciate the information! Hope you guys didn't get injured and came away with a good story!