Anyone familiar with High Point insurance (NJ)? Coverage for track
11-12-2008, 07:13 PM
#1
Pro
Thread Starter
Anyone familiar with High Point insurance (NJ)? Coverage for track
I got a letter in the mail from High Point insurance (part of Prudential) recently that said PCA events, with some exceptions (real races), will be covered if I insure my car with them. They said they based their decision on a letter from NNJ PCA explaining the events in detail and their history of being relatively safe. Hence, they will protect the car. Also said they would offer the same coverage to BMWCCA members.
Anyone aware of them? Want to know before I switch over. They are actually a bit cheaper than my current insurance.
Anyone aware of them? Want to know before I switch over. They are actually a bit cheaper than my current insurance.
11-12-2008, 07:52 PM
#2
Three Wheelin'
No direct experience. I do not think they are any better or worse than other NJ insurers.
I assume your question really refers to how cooperative are they handling/paying claims (esp at a DE event, etc). In that regard, HP, like all Ins Cos, is comprised of the marketing/sales wing and the claims/coverage wing. Obviously the former want you to buy. Equally obviously, the latter want to meet contractual obligations and not pay more than legally obligated to.
Bottom line - before jumping, ask for the Policy Terms and Conditions and all Policy Endorsements and read, carefully, the exclusions under the Liability and Property Damage sections to see what they actually say re coverage for DE type events. In addition to direct exclusions for racing/timed events/etc., watch out for language which excludes coverage while using the car on a track or at a facility used for racing or similar language related to location of the accident.
The coverage end of the company will not care what the marketing end says when the claim is presented.
I assume your question really refers to how cooperative are they handling/paying claims (esp at a DE event, etc). In that regard, HP, like all Ins Cos, is comprised of the marketing/sales wing and the claims/coverage wing. Obviously the former want you to buy. Equally obviously, the latter want to meet contractual obligations and not pay more than legally obligated to.
Bottom line - before jumping, ask for the Policy Terms and Conditions and all Policy Endorsements and read, carefully, the exclusions under the Liability and Property Damage sections to see what they actually say re coverage for DE type events. In addition to direct exclusions for racing/timed events/etc., watch out for language which excludes coverage while using the car on a track or at a facility used for racing or similar language related to location of the accident.
The coverage end of the company will not care what the marketing end says when the claim is presented.
11-12-2008, 08:50 PM
#3
Moderator
Rennlist Member
Rennlist Member
Over the years there have been more than a few agencies that have promoted their "normal" auto coverage as being "approved" for DE use. The coverage had the typical language that did not specifically exclude "Driver's Education", but rather had exclusions for "racing" and "timed events" (competitive). These agencies simple understood what we do at PCA or BMWCCA DE, read their parent company policy, and determined that DE was not excluded. The most recent example I can think of involved Firemans Fund.
There are insurance companies out there that do not specifically exclude DE and they have not found a strong enough reason to do so. They may, from time to time, cover a claim resulting from a DE, but do not change their exclusions. I know of two examples in the last 2 years where cars were totaled and the normal auto policy covered them and the client was not dropped.
My guess is that High Point may be in-tune with this and the agency understands that there's a group of us DE participants that are seeking a simple "all-in-one" policy that covers our street cars on the road and at DE. Not talking about trailered-in cars or racing events - just the casual 6 time a year DE enthusiast who is out to hone driving skills.
As cello mentioned - try to get the policy before switching. I had a $40k valued 964 that Hagerty said they would be happy to insure and the policy they sent by pdf file was the "classic" language that only excluded timed events and racing. So I went with it and when the final policy arrived, there were "additional exclusions" that basically said if I even park in the lot at a race track, never mind participate in a Drivers Education, I was not covered. Felt like "bait and switch".
There are insurance companies out there that do not specifically exclude DE and they have not found a strong enough reason to do so. They may, from time to time, cover a claim resulting from a DE, but do not change their exclusions. I know of two examples in the last 2 years where cars were totaled and the normal auto policy covered them and the client was not dropped.
My guess is that High Point may be in-tune with this and the agency understands that there's a group of us DE participants that are seeking a simple "all-in-one" policy that covers our street cars on the road and at DE. Not talking about trailered-in cars or racing events - just the casual 6 time a year DE enthusiast who is out to hone driving skills.
As cello mentioned - try to get the policy before switching. I had a $40k valued 964 that Hagerty said they would be happy to insure and the policy they sent by pdf file was the "classic" language that only excluded timed events and racing. So I went with it and when the final policy arrived, there were "additional exclusions" that basically said if I even park in the lot at a race track, never mind participate in a Drivers Education, I was not covered. Felt like "bait and switch".
11-13-2008, 02:50 PM
#4
Pro
Thread Starter
An update...
I have a copy of a signed letter sent from High Point to NNJR-PCA clarifying their policy in attempt to for an affinity relationship. In the letter, it:
a) Shows their language around "racing" and that "racing" is not covered
b) Itemizes each of the events that NNJR-PCA has, and states whether or not it is considered "racing".
c) Autocross, high-speed driving events, and rallys, are, per this letter, not considered "racing". The Porscherama IS considered racing (i.e., timed) and therefore the letter says it is subject to the racing exclusion.
I could probably post the letter, or send via PM if someone wants to read it.
I have a copy of a signed letter sent from High Point to NNJR-PCA clarifying their policy in attempt to for an affinity relationship. In the letter, it:
a) Shows their language around "racing" and that "racing" is not covered
b) Itemizes each of the events that NNJR-PCA has, and states whether or not it is considered "racing".
c) Autocross, high-speed driving events, and rallys, are, per this letter, not considered "racing". The Porscherama IS considered racing (i.e., timed) and therefore the letter says it is subject to the racing exclusion.
I could probably post the letter, or send via PM if someone wants to read it.
