OpenTrack payout on totaled GT3
12-16-2018, 04:38 PM
#17
Burning Brakes
Thank you Rich for coming back and letting us know that the OT stood behind their policy - great to hear. Happy that you were able to make the best of a bad situation.
12-16-2018, 06:29 PM
#18
Thanks for the feedback on your experience with OpenTrack, I use their 3 event package and it’s reassuring! Glad things went well for you and I look forward to your chapter!
12-16-2018, 06:47 PM
#19
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If an incident is covered by the policy, I would expect Open Track to pay. Otherwise, word would get around and they'd be out of business pretty quickly. Key with the annual policy is to realistically add up the number of track days you expect to do, then see if it's a good value.
12-16-2018, 07:13 PM
#21
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IMO, a month is reasonable. An insurance company needs to go through a process before writing big checks.
12-16-2018, 07:26 PM
#22
Originally Posted by Manifold
IMO, a month is reasonable. An insurance company needs to go through a process before writing big checks.
12-16-2018, 08:01 PM
#23
depends on your insured amount and percentage deductible chosen.
but typically $450-550 for the day.
some track insurance companies will only insure per event (be it 2 or 3 days). i've paid 550-650 for an event weekend.
to the OP: i'm glad that the process seem fairly straightforward. I wonder if this utilization will impact future premiums or insurance eligibility going forward.
but typically $450-550 for the day.
some track insurance companies will only insure per event (be it 2 or 3 days). i've paid 550-650 for an event weekend.
to the OP: i'm glad that the process seem fairly straightforward. I wonder if this utilization will impact future premiums or insurance eligibility going forward.
I think your quotes are low for Open Track, or any of the other specialty insurers. The quotes given have to be based on vehicle value, all other things being equal.
Open Track used to charge me $500 for a typical PCA HPDE weekend (2-3 days) on my ‘15 loaded Z06/7 with an agreed value of $80K and a 10% deductible.
My current rate at the same track for the same type HPDE is about $950/weekend on my ‘18 GT R with agreed value $180K with 10% deductible. Both of the above quotes remained the same even when adding my son, (he’s 27yo), as a second driver.
Bish
12-16-2018, 09:11 PM
#24
Rennlist Member
depends on your insured amount and percentage deductible chosen.
but typically $450-550 for the day.
some track insurance companies will only insure per event (be it 2 or 3 days). i've paid 550-650 for an event weekend.
to the OP: i'm glad that the process seem fairly straightforward. I wonder if this utilization will impact future premiums or insurance eligibility going forward.
but typically $450-550 for the day.
some track insurance companies will only insure per event (be it 2 or 3 days). i've paid 550-650 for an event weekend.
to the OP: i'm glad that the process seem fairly straightforward. I wonder if this utilization will impact future premiums or insurance eligibility going forward.
not in my experience... insuring for 175K is likely around $1000 per event. i pay around $980 for an event with my clubsport GT4 insuring for $150K (15K deductible, and 3 pack disount)
12-16-2018, 09:30 PM
#25
Burning Brakes
I did state premiums will vary commensurate with insured value, deductible, (and likely driving record)
Was simply describing my data point(s)...
My most recent OT premium for one day was $435 for 115k of coverage with 10% deductible.
Was simply describing my data point(s)...
My most recent OT premium for one day was $435 for 115k of coverage with 10% deductible.
12-16-2018, 09:51 PM
#26
Rennlist Member
Thank you for posting the follow up on this. Honestly I cant think of a better testimonial for OpenTrack than your experience. I plan to use OpenTrack now for my events in 2019.
12-17-2018, 10:10 AM
#27
Rennlist Member
Thank you Rich, good to know and I'm happy you go into the Holidays knowing its taken care of and behind you.
I've used them for years, never had to use them, thankfully.
I'm about to upgrade to international track option for ED.
I've used them for years, never had to use them, thankfully.
I'm about to upgrade to international track option for ED.
12-17-2018, 10:36 AM
#28
12-17-2018, 10:49 AM
#30
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You received sales tax, too, right?
How did this claim work with your ceramic brake rotors & calipers, for example?? They do not require you to return it to factory specs, since that's what the insurance premium is based off of, or did they know of the swap to steels when they wrote the coverage?
How did this claim work with your ceramic brake rotors & calipers, for example?? They do not require you to return it to factory specs, since that's what the insurance premium is based off of, or did they know of the swap to steels when they wrote the coverage?