HPDE / track insurance
02-17-2012, 10:34 AM
#196
Race Director
Deputydog, well it's time to re-evaulate this again....I'll go back to my SF agnet and talk with underwritting again. Thanks for the head up on this.
What company are you and the GT3 DE Cup guys useing?
What company are you and the GT3 DE Cup guys useing?
02-17-2012, 11:03 AM
#198
Race Director
...which I'm sure includes beer...but afraid of what else it entails. LOL
02-17-2012, 11:39 AM
#200
Rennlist Member
This other program Peter, Eddie and I are referring to is very good. I know I'm sleeping better with the coverage. However, everyone with this same company needs to put at least 10 car lengths in between each other to be on the safe side
02-17-2012, 02:15 PM
#203
Drifting
My wife happens to be in, lets say, a very high upper management position at SF...and handles all Special Investigations in FL, which includes policy interpretation/intent issues on things like this...according to her...DeputyDog is right...
02-17-2012, 03:22 PM
#204
Drifting
Further to DD's comments, which are correct BTW (Been on company side of auto insurance for 20 yrs) for us it is an ethical issue, not a can I get away with this one. Under no circumstances are these carriers factoring in us putting/turning on helmet, timing device, 5 pt belts and sticky tires into the pricing for a road use coverage with $xxx, 000 of liability attached to the policy. Exclusion(s) are after action documentations, whereby the company is saying "You cant f*ck us again with this"
As an example, here is an expert from Chubb's Auto Policy.....very similar to Progressive, Geico, etc.....
As an example, here is an expert from Chubb's Auto Policy.....very similar to Progressive, Geico, etc.....
From Progressive Policy:
11. Loss to “your covered auto” or any “non-owned auto”, located inside a facility designed for racing, for the purpose of:
a. Competing in; or
b. Practicing or preparing for; any prearranged or organized racing or speed contest.
02-17-2012, 03:52 PM
#205
...and be carefull with those "laps for charity".
Incidents don't usually occur but they can, and if your car even if its not your track car is involved ,it probably would not be covered.
Gotta be carefull with the words used by insurance carriers. "in", "at" and "on" all have diffrent meanings but I've seen them used interchangeably throughout various policies in refering to racetracks.
You can almost begin to wonder if you attend a race as a spectator and are parked on the grounds of a race track are you still covered even in your "grocery getter".
I once challenged an underwriting dept regarding this very situation and their response was "thats not our intent".
Irregardless of the intent , tell that to the judge or jury when it comes time to defend yourself .
You can hear it now ,"But judge, they said that wasn't their intent".
Incidents don't usually occur but they can, and if your car even if its not your track car is involved ,it probably would not be covered.
Gotta be carefull with the words used by insurance carriers. "in", "at" and "on" all have diffrent meanings but I've seen them used interchangeably throughout various policies in refering to racetracks.
You can almost begin to wonder if you attend a race as a spectator and are parked on the grounds of a race track are you still covered even in your "grocery getter".
I once challenged an underwriting dept regarding this very situation and their response was "thats not our intent".
Irregardless of the intent , tell that to the judge or jury when it comes time to defend yourself .
You can hear it now ,"But judge, they said that wasn't their intent".
02-17-2012, 08:42 PM
#206
Rennlist Member
Thread Starter
I have liberty mutual.
A friend of mine got paid after hitting the wall at Daytona.
But; he was a lm customer forever. I think he got lucky, had a pbocflorida official fix his car and submit the claim. Still he will pay more for is policy.
I pay very little after no accidents for 20 years and no tickets. I don't mind paying for track insurance to keep it that way.
Our track insurance guy is very picky and discriminating but I was lucky to get insurance for unlimited events annually for a low rate. I call it the"don't end my hobby insurance".
Actually I helped writing the business plan LOL.
I think when you file a claim and get paid for yournregularbcar insurance rate increase you might be cheaper off with track insurance. I've had since 2008 and I could have afford some repairs for the money I paid int.o track insurance, but then again, it's good for a second a lap. Mods might cost more than that LOL.
A friend of mine got paid after hitting the wall at Daytona.
But; he was a lm customer forever. I think he got lucky, had a pbocflorida official fix his car and submit the claim. Still he will pay more for is policy.
I pay very little after no accidents for 20 years and no tickets. I don't mind paying for track insurance to keep it that way.
Our track insurance guy is very picky and discriminating but I was lucky to get insurance for unlimited events annually for a low rate. I call it the"don't end my hobby insurance".
Actually I helped writing the business plan LOL.
I think when you file a claim and get paid for yournregularbcar insurance rate increase you might be cheaper off with track insurance. I've had since 2008 and I could have afford some repairs for the money I paid int.o track insurance, but then again, it's good for a second a lap. Mods might cost more than that LOL.
02-17-2012, 09:40 PM
#207
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Progressive has similar language as Chubb except that Progressive did not say "anything on a racetrack" like Chubb.
From Progressive Policy:
11. Loss to “your covered auto” or any “non-owned auto”, located inside a facility designed for racing, for the purpose of:
a. Competing in; or
b. Practicing or preparing for; any prearranged or organized racing or speed contest.
From Progressive Policy:
11. Loss to “your covered auto” or any “non-owned auto”, located inside a facility designed for racing, for the purpose of:
a. Competing in; or
b. Practicing or preparing for; any prearranged or organized racing or speed contest.
In fact, we just had a friend get denied a DE claim with Progressive here in FL.
None of this technical bs changes the fact that making a claim for something that isn't excluded, but never contemplated in the risk assessment (further to DD comments) is the reason most of us pay more than we should for our street insurance. Filing a claim for a DE incident at Sebring in Super Solo is no different than claiming a soft tissue injury after a supermarket parking lot accident.
After the agent asked "how many miles do you drive to/from work" did he/she ask what cone you brake at in T17?
Come on......
02-17-2012, 10:44 PM
#208
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I pm'd for an application. No response. Any trick to the invitation...special circumstances? Thanks in advance. Could use it for the up coming David Murry event at VIR.
02-17-2012, 11:19 PM
#210