singletrack1

GEICO bought radar guns to write speeding tickets to police departments in the east coast. They bought the radar guns so people would get tickets and GEICO could raise their insurance rates to make more money.

Any self respecting car enthusiest would never give them a $.01.

ltc

Try Laurel DE (advertise in Pano), used by many folks over on the Racing/DE forum, recently discussed as well IIRC.
http://www.laurelde.com/

LVDell

Lewis, no way in hell would I insure for DE with a company like that. First red flag from their website:

The coverage you are requesting is from an insurance company that is not licensed in the United States of America or Canada.

This company is called a "non-admitted" or "surplus lines" insurer. This company is not subject to the financial solvency regulations and enforcements which apply to State, U.S. or Canadian licensed companies.

The insurance company does not participate in any of the insurance guarantee funds created by State, U.S. and Canadian law.

Therefore these funds will not pay your claim or protect your assets if the insurance company is unable to make payments as promised.For additional information, you should contact your insurance agent/broker, " surplus line" broker, the State Department of Insurance or Provincial Insurance Commission.

stuka

Since I am married to a lawyer, I will just tell you that if this is all that you got to go on, it really won't help you when the rainy day comes.

Have your current policy reviewed by a lawyer. This is the only sure thing.

Oh, and my switch has been completed, I am now back in the saddle.

smlporsche

When I ran my street Porsche at DE events I had it (with the rest of my holdings) insured with Allstate.
I specifically asked my agent and he said as long as it was not a timed event that we were fine.

Of course this varies state by state.

Since my track car is not insurred in my regular policy (I have coverage for theft and transportation) all bets are off now. But then again I could buy five of these for the price of a new GT 3.

Black Shadow

Bottom Line, READ THE POLICY.
It does not matter what the agent tells you, what matters is what the policy states.
Just read a policy from State Farm which states "B. We do not provide Liability Coverage for the ownership, maintenance or use of: ... 4. Any vehicle located inside a facility designed for racing, for the purpose of: a. Competing in; or b. Practicing or preparing for; any prearrange or organized racing or speed contest"

Glen

LV, they pay claims and have a great reputation in the racing community for paying on their race insurance. Just FYI. Peter Sereda handles the Race Insurance(is at Daytona now)and Epringham handles the DE side. Another option is Greg Loles of Farnbacher Loles has an additional race insurance option, not sure on the DE side but likely available for that also. Through Allianz of Germany if I remember correctly.

LVDell

Glen, I have no doubt that they have pain claims but you (not you personally, "you" in general) have got to be a gambling type to send your $$$ in to a company that has the above LEGAL DISCLAIMER. So the minute they realize they aren't making money anymore and then a potential flood of claims comes in they can just refuse to pay, pack up shop, and leave. Not a company I would ever do business with. Personally, I self insure. If at some point I am not comfy self-insuring the GT3 for my activities, then I need to either stop tracking it or move to something I can wad up into a wall and never look back with regret.

85Gold

+1 That is why the GT3 is AutoX and the E46 M3 is a track car.

Peter

LVDell

I will add that since I self-insure I make sure I am VERY familiar with the track I am running and know where the "trouble" spots are. It is in those spots where I lose time since I am deliberately taking caution. For example, T3 (NASCAR) and T6 (Snake) at VIR where many people have smacked the wall/armco! Most of the rest of the course if full of runoff.

Andy (Portland, OR)

Yes, it is a well- settled principle of insurance law that the policy -- not representations by the agent -- controls.

As I read the quoted State Farm exclusion (which is slightly different than the State Farm exlusion in my possession), it does not apply to DEs.

Remember, with personal auto policies there are multiple coverages; the two of most importance to us are collision (which protects us from the finite loss of our vehicle value) and liability (which protects us from open-ended lawsuits filed against us by others to whom we cause personal injury or property damage.) Switching to a beater track car reduces or eliminates the need for collision coverage, but not the need for liablity coverage -- assuming you have assets which are subject to a judgment. The more you have, the more you have to lose. In the event I'm held liable for killing or maiming someone, I'm prepared to lose my GT3, but not my other assets. As I said in an earlier post, most of the car clubs afford liability coverage to "participants" for sanctioned DE events, but they have not been forthcoming in releasing the policy form, so it's difficult to assess the extent of coverage.

Andy

va122

+1 85 Gold. But e36 M3.

I looked into this extensively and there are a couple companies that will insure you for "on track incidents" but...Its like 1000/event for DE and 2k per for race. With a 10k deductible. Too rich for my blood. Then again, Laurel's deductible IRRC is higher.

Stuka, who did you switch to?

multi21

I hear you Dell, but any fluids dropped by someone ahead of you will make for a long discussion to wifey, regardless of how carefuly you are at those points of the track. I guess the saying is Expect anything, even at 7/10's.

Andy (Portland, OR)

Cutting/pasting error; should have read:

I'm prepared to lose my GT3 if I wad it up, but I'm not prepared to lose my other assets if I'm held liable for killing or maiming someone.

ryce

Andy:

My state farm policy does not contain any exclusionary language that in my view applies to DE events.