USAA Insurance and DE
08-28-2002, 12:11 PM
#16
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I looked at my policy packet from USAA last night, there is no such amendment in my Texas policy. I called USAA about a year ago and was told DE is covered as long as it is not a timed event.
08-28-2002, 01:16 PM
#17
Racer
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Hi DJ,
When was your policy last updated? I guess I'm just interested to know whether this is a new thing they're applying across the board and rolling out as policies renew, or if it is a regional/state thing.
Curtis
When was your policy last updated? I guess I'm just interested to know whether this is a new thing they're applying across the board and rolling out as policies renew, or if it is a regional/state thing.
Curtis
08-28-2002, 01:52 PM
#18
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Todd,
Were you the unfortunate beneficiary of the overheated 996 at Summit Point last Thursday? I hope your claim is handled to your satisfaction.
For those of you who were not there, one of those dang water-cooled 911s overheated on the track because the belt pulley broke. Unfortunately, a red 993 (maybe Todd) couldn't help but go ice skating on coolant.
The popularity of DE events has actually worked against us when it comes to insurance. The companies are in business to make money. They don't give a rat's *** about your efforts to "become better drivers". Think about it. A lot of us have more than one car. I can only drive one car at a time, but other than a very small "multiple car discount", I am paying almost a full premium for each car.
Unfortunately, along with the increase in popularity of the events has come the increase in the number of claims, and most of them are for big numbers. That, combined with the increased number of enthusiasts calling their carriers to find out if they would be covered, has awakened the underwriters and led to tightening of policy language.
Remember, even if your carrier will cover you for a DE related mishap, there will be retribution. In most states, they cannot cancel you. But, they certainly can refuse to renew you or dramatically raise your premiums for several years. If they fail to renew, try getting another company to write the coverage as you explain why you weren't renewed or detail the claim you made within the last three years.
Bottom line. The American Collectors coverage is really not that expensive, but only available in certain states at this time. Or, be prepared to underwrite your own problems.
Richard
Were you the unfortunate beneficiary of the overheated 996 at Summit Point last Thursday? I hope your claim is handled to your satisfaction.
For those of you who were not there, one of those dang water-cooled 911s overheated on the track because the belt pulley broke. Unfortunately, a red 993 (maybe Todd) couldn't help but go ice skating on coolant.
The popularity of DE events has actually worked against us when it comes to insurance. The companies are in business to make money. They don't give a rat's *** about your efforts to "become better drivers". Think about it. A lot of us have more than one car. I can only drive one car at a time, but other than a very small "multiple car discount", I am paying almost a full premium for each car.
Unfortunately, along with the increase in popularity of the events has come the increase in the number of claims, and most of them are for big numbers. That, combined with the increased number of enthusiasts calling their carriers to find out if they would be covered, has awakened the underwriters and led to tightening of policy language.
Remember, even if your carrier will cover you for a DE related mishap, there will be retribution. In most states, they cannot cancel you. But, they certainly can refuse to renew you or dramatically raise your premiums for several years. If they fail to renew, try getting another company to write the coverage as you explain why you weren't renewed or detail the claim you made within the last three years.
Bottom line. The American Collectors coverage is really not that expensive, but only available in certain states at this time. Or, be prepared to underwrite your own problems.
Richard
08-28-2002, 01:53 PM
#19
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Curtis,
Just reviewed my most recent policy last night(dated 05/02) and it appears that the wording HAS changed. What I had refered to before was the old wording ("timed events"). Now it reads under the exclusions section "contests or practise for contest". I am not clear if DE's are fall under the practise so I will be calling USAA to get more clarity. Hmmm...looks like State Farm could get some new customers.
Just reviewed my most recent policy last night(dated 05/02) and it appears that the wording HAS changed. What I had refered to before was the old wording ("timed events"). Now it reads under the exclusions section "contests or practise for contest". I am not clear if DE's are fall under the practise so I will be calling USAA to get more clarity. Hmmm...looks like State Farm could get some new customers.
08-28-2002, 02:43 PM
#20
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My recently received USAA package had precisely the same modifications. I'm in AL. I think we can assume the new policy is being applied nationwide, since USAA has a "cross-jurisdiction" customer base, & appears to try to promulgate policy on a consistent basis.
It seems that in the interest of clarity the question to be posed to USAA must be very specific; "...do you cover claims made for occurances at PCA-affiliated, non-timed DE events?" Etc. for other sanctioning bodies...
They ought to set explicit policy AND provide a mechanism for specific event review IN ADVANCE, if they do not want a gray area big enough for a lawyer to drive a Cayenne (or 2 or 3) through...
From my reading, the new verbage is not clear & their staff lawyer (I presume) who authored it is not adequately informed of the nature of the DE events that some of their (best paying, long-standing) clients particpate in.
It seems that in the interest of clarity the question to be posed to USAA must be very specific; "...do you cover claims made for occurances at PCA-affiliated, non-timed DE events?" Etc. for other sanctioning bodies...
They ought to set explicit policy AND provide a mechanism for specific event review IN ADVANCE, if they do not want a gray area big enough for a lawyer to drive a Cayenne (or 2 or 3) through...
From my reading, the new verbage is not clear & their staff lawyer (I presume) who authored it is not adequately informed of the nature of the DE events that some of their (best paying, long-standing) clients particpate in.
08-28-2002, 03:21 PM
#21
Racer
Thread Starter
[quote]Originally posted by Kevin E Davis:
<strong>From my reading, the new verbage is not clear </strong><hr></blockquote>
I don't know, Kevin. Seems pretty clear to me that "An activity that challenges the speed or handling characteristics of a vehicle or improves or demonstrates driving skills, provided the activity occurs on a track or course that is closed from non-participants." probaly refers to DE's.... I'm no lawyer, though.
I'm pinging management in hopes of changing their mind....
Curtis
<strong>From my reading, the new verbage is not clear </strong><hr></blockquote>
I don't know, Kevin. Seems pretty clear to me that "An activity that challenges the speed or handling characteristics of a vehicle or improves or demonstrates driving skills, provided the activity occurs on a track or course that is closed from non-participants." probaly refers to DE's.... I'm no lawyer, though.
I'm pinging management in hopes of changing their mind....
Curtis
08-28-2002, 03:33 PM
#22
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Curtis, I received my new policy packet in July 2002. I don't think this is nationwide yet...but it's just a matter of time before all the insurance companies catch on. For me that will be the end of my DE days, I don't like the idea of driving "naked" at the track. 
08-29-2002, 12:26 AM
#23
Yep, Richard that was me on Thursday @ Summit Point.
Todd
Todd
08-29-2002, 01:12 AM
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Matt, I'm holding out hope that the Texas state regulations governing the parameters of auto insurance policies will provide a degree of 'cover' against a change like this affecting Tx policy holders. We had a couple of insurance people who're PCA members give a talk a couple of months ago in Houston, and they kept referring to how Tx drivers have better odds for coverage in DEs due to state laws/regulations.
Just my ramblings,
RNH
Just my ramblings,
RNH
08-29-2002, 04:21 AM
#26
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As a fairly long-time USAA member (18 years) I am EXTREMELY dismayed at this recent change in corporate policy. I asked casually about it last month when we bought another car and was told then about the change. Not only that, I was informed that a note would be entered in my file stating that I had "inquired about racing". Not happy about that <img src="graemlins/cussing.gif" border="0" alt="[grrrrrrr]" />
Called several insurers today (State Farm among them). All of them said they will NOT cover DEs (I emphasized the "school" aspect, supervision by instructors, etc.)
I'll drop USAA like a bad habit and take my business elsewhere if I can find a company out there that covers DEs...trouble is finding them
Called several insurers today (State Farm among them). All of them said they will NOT cover DEs (I emphasized the "school" aspect, supervision by instructors, etc.)
I'll drop USAA like a bad habit and take my business elsewhere if I can find a company out there that covers DEs...trouble is finding them
08-29-2002, 09:19 PM
#28
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Matt I'm with you and I do hope we will prevail!
Todd..my my...I hope you are covered and your red beauty is back in shape pretty soon... Sad sad pic...Good luck.
Todd..my my...I hope you are covered and your red beauty is back in shape pretty soon... Sad sad pic...Good luck.
08-29-2002, 09:32 PM
#29
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[quote]Originally posted by Robert Henriksen:
<strong>Matt, I'm holding out hope that the Texas state regulations governing the parameters of auto insurance policies will provide a degree of 'cover' against a change like this affecting Tx policy holders. We had a couple of insurance people who're PCA members give a talk a couple of months ago in Houston, and they kept referring to how Tx drivers have better odds for coverage in DEs due to state laws/regulations.
Just my ramblings,
RNH</strong><hr></blockquote>
As I recall reading, the Texas 'advantage' is that the state insurance comission requires common language in all policies. This is probably good for you guys in the short term, but long term???
It seems to me that some of the companies will raise the issue in Texas and likely get it changed for all carriers at the same time. Just my wild speculation.
<strong>Matt, I'm holding out hope that the Texas state regulations governing the parameters of auto insurance policies will provide a degree of 'cover' against a change like this affecting Tx policy holders. We had a couple of insurance people who're PCA members give a talk a couple of months ago in Houston, and they kept referring to how Tx drivers have better odds for coverage in DEs due to state laws/regulations.
Just my ramblings,
RNH</strong><hr></blockquote>
As I recall reading, the Texas 'advantage' is that the state insurance comission requires common language in all policies. This is probably good for you guys in the short term, but long term???
It seems to me that some of the companies will raise the issue in Texas and likely get it changed for all carriers at the same time. Just my wild speculation.
08-29-2002, 09:38 PM
#30
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Brandon,
Keep us posted on your research as I too have been a long time USAA member (22 years) and have always had great service in the past. This is the first negative experience with them. I also have homeowners (x2), umbrella, credit cards etc...and all have been with great service.
I don't want to drop them, but I am signed up and paid for TracQuest Laguna Seca in November. I may have to pay for the separate DE insurance.
Keep us posted on your research as I too have been a long time USAA member (22 years) and have always had great service in the past. This is the first negative experience with them. I also have homeowners (x2), umbrella, credit cards etc...and all have been with great service.
I don't want to drop them, but I am signed up and paid for TracQuest Laguna Seca in November. I may have to pay for the separate DE insurance.