How much DE day insurance to buy?
04-02-2013, 04:06 PM
#16
Addict
Rennlist Member
Rennlist Member
The question is what can you afford to loose? I've always had the policy not to drive anything on the track that I couldn't afford to drive off a cliff. It's tough to write the car off completely, but it's relatively easy to bang it up a bit. LRP is pretty safe, but there are a couple of corners that can bit (turn 10). OTOH you're in green, so the speeds will be (relatively) lower. OTOOH, other drivers in the green group will be much less predictable. I'd probably take the $25k coverage.
04-02-2013, 07:22 PM
#17
Rennlist Member
I never had an issue for 22 years until I ended up in the gravel trap at Mid-Ohio after a GT3 blew a coolant hose. It's not fun cresting a hill into a blind corner only to be greeted by 3 cars in the trap ahead of you and no place to go. It was about $17k out of pocket by the time all the repairs were completed.
I looked at it as somewhere around 150 self insured events into $17k. Worked out to around $113/event. But it could have been a lot worse. The turbo I hit was totaled. If I track the current car it will be insured with Locton Affinity at around $500 per event. For three events that is less than a set of tires, a bargain!
I looked at it as somewhere around 150 self insured events into $17k. Worked out to around $113/event. But it could have been a lot worse. The turbo I hit was totaled. If I track the current car it will be insured with Locton Affinity at around $500 per event. For three events that is less than a set of tires, a bargain!
04-02-2013, 08:30 PM
#18
Rennlist Member
Definitely skip $80K, your car isn't worth that much... either 25 or 50... 25K would cover most non-total loss damages, while 50K covers most of a total loss... so what are the chances of total loss vs. basic damage? You need to figure that out.
04-02-2013, 09:38 PM
#19
Rennlist Member
Thread Starter
Many thanks to all for the great advice! I'm thinking $50k for $307 is the right spot for me - mostly for peace of mind. I agree that total loss is way out on the tail (especially in the Green run group), and even if that does happen, as vpr80 wisely pointed out, parts are probably worth something.
04-02-2013, 10:59 PM
#21
Rennlist Member
Thread Starter
vpr80 - check out Northern New Jersey Region PCA ( http://www.nnjr-pca.com/ ). Highly organized P-club, lots of varied events, professional quality monthly magazine – Porscheforus. I have only done one event with them – 2 day track event at Pocono last August. Very well planned and executed event with a big emphasis on safety. Looking forward to Lime Rock with the club next week. Feel free to PM me for more info.
04-02-2013, 11:43 PM
#23
Rennlist Member
Thread Starter
vpr80 - you don't have to own a Porsche to join NNJR. I'd join immediately and start attending events. Best $46 you'll ever spend. Between NNJR and the guys on this forum, the car will find you!
04-03-2013, 03:52 PM
#24
Drifting
This thread got me curious since I had an accident at a DE many years ago ('97 I think) and although my company covered the repairs, they weren't happy about it. I checked my current policy (USAA) and they now specifically exclude any event that takes place at a facility designed for racing. This includes not just property damage but also liability.
I would suggest that you look into some kind of liability insurance as well, just in case you do hit someone or have an accident and your instructor is injured.
I would suggest that you look into some kind of liability insurance as well, just in case you do hit someone or have an accident and your instructor is injured.
04-04-2013, 08:03 AM
#26
Drifting
Absolutely not, not in an environment away from your home.
What you would need would be an umbrella liability policy, and generally speaking that extends coverage that you already have under your homeowner's and auto policies. Coverage specifically excluded in one of those would therefore be excluded in the umbrella. So even with that extra policy, it wouldn't do you any good if something happened on the track.
The one DE policy I looked at yesterday covered physical damage to your car only, not liability.
This is why I no longer do DEs.
What you would need would be an umbrella liability policy, and generally speaking that extends coverage that you already have under your homeowner's and auto policies. Coverage specifically excluded in one of those would therefore be excluded in the umbrella. So even with that extra policy, it wouldn't do you any good if something happened on the track.
The one DE policy I looked at yesterday covered physical damage to your car only, not liability.
This is why I no longer do DEs.
04-04-2013, 10:34 AM
#28
Burning Brakes
I saw a Noble suffer major damage when the rear body section came off and I know of an historic GT3 and a Boxter being completely destroyed at PCA DEs.
04-04-2013, 10:51 AM
#29
Three Wheelin'
I never had an issue for 22 years until I ended up in the gravel trap at Mid-Ohio after a GT3 blew a coolant hose. It's not fun cresting a hill into a blind corner only to be greeted by 3 cars in the trap ahead of you and no place to go. It was about $17k out of pocket by the time all the repairs were completed.
I looked at it as somewhere around 150 self insured events into $17k. Worked out to around $113/event. But it could have been a lot worse. The turbo I hit was totaled. If I track the current car it will be insured with Locton Affinity at around $500 per event. For three events that is less than a set of tires, a bargain!
I looked at it as somewhere around 150 self insured events into $17k. Worked out to around $113/event. But it could have been a lot worse. The turbo I hit was totaled. If I track the current car it will be insured with Locton Affinity at around $500 per event. For three events that is less than a set of tires, a bargain!
04-04-2013, 03:36 PM
#30
Drifting
The liability insurance you have on your home is if someone is at your home and they fall or otherwise hurt themselves on your property. It also covers you if your minor child does something stupid (as children are apt to do).