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I just got started in this mess. 30 days this year about. I do 2-3 day events. And we have basically 12mo seasons, but it's really warm in summer so I skip june-aug.
I need it too(I do a lot of three day events this year, more driving per insurance)...I would have some serious positive cash flow if I didn't have a gt3
I was getting ready to renew my lockton policy and decided to take another review of my auto insurance (state farm, California, Policy Form 9805B). They send these in paper form. Not electronically. Page 23 states, under physical damage exclusions:
19. Any Covered Vehicle while it is:
a. Being prepared for, used in practice for, or operated in any racing contest, speed contest, hill-climing contest, jumping contest, or any similar contest; OR
b. On a track designed primarily for racing or high speed driving. This exclusion (19b) does not apply if the vehicle is being used in connection with any activity other than racing, high-speed driving, or any type of competitive driving
My read into 19b would be something like a low speed parade lap, parking on a track for some event, etc. Basically that excludes track driving coverage clearly. The B section didn't used to be that clear.
Anyway, this is a good thread to read through but at the end of the day insurance is all about risk tolerance (mental state or financial).
The lockton and on track policies aren't cheap (about same$). The 15 pack in CA on 100k declared value is around 6800. Last year it was less. Maybe 10% less. But if you're doing 2-3 day weekends the price per day is small in the scheme of things and compared to tires, brakes, maintenance, hotels, beer, and food.
FYI...just to let you all know that ontrackinsurance.com is still the best deal going. They are super flex on track day packages...offer a 3 event deal where others do not and their rates are a bit more competitive.
I just sent in my form fill out but the event date wasn't working for me and Missy called me right back and got the deal done in 30 seconds...easy peasy. Plus...they are a rennlist member.
I have used OnTrack insurance in the past for my 2011 GT3. They were by far much better than Lockton. Steve the owner is a fellow track guy and his program is flexible, cheaper than Lockton, and higher coverage is available. In 2012 I purchased a new policy underwritten by Chartis Private Client Group, now AIG. They write a yearly policy which can be carried over from season to season if the dates fall right. It has been much cheaper than a single event premium for the value I need. The ONLY drawback, is that you have put all of your insurance through them, and the includes your home. The values for your home and cars must equate to at least a $10,000.00 premium before they will take you into the track insurance program. However, with the cost of all that plus the annual track policy, I did save money on an overall basis for all of my insurance including 15 track events for the year. For $140,000.00 coverage on my car, it cost me $5,900.00 for 15 track events for an annual policy. Morgan Duffy from HWI Motorsports out of Boston is the exclusive agency that underwrites the program.
I never had a problem with Lockton, they cut a check immediately for my incident, although, with skyrocketing GT3RS values, insuring them for the correct amount is getting difficult and just plain ridiculous. God, I miss my RS something awful.
Will check out On-Track when the time comes. For now, enjoying being self-insured on a $5500 miata track car....lol.
I never had a problem with Lockton, they cut a check immediately for my incident, although, with skyrocketing GT3RS values, insuring them for the correct amount is getting difficult and just plain ridiculous. God, I miss my RS something awful.
Will check out On-Track when the time comes. For now, enjoying being self-insured on a $5500 miata track car....lol.
The cost of track insurance is getting steep for sure and is keeping me from tracking my car a lot in 2014...I cut way back and only did 3 events last year. I bought a 3 event policy for this year and will be done tracking by April and probably done for good for a long time I am feeling.
The cost of track insurance is getting steep for sure and is keeping me from tracking my car a lot in 2014...I cut way back and only did 3 events last year. I bought a 3 event policy for this year and will be done tracking by April and probably done for good for a long time I am feeling.
Yeah, before my incident, I had already planned on building a miata in the offseason to use half the time in 2015, and cut back on the RS track time. After 4 years of 30+ track days/year, the running/consumable costs + insurance wasn't getting any cheaper.
I'm going to get another .1 GT3, but it probably won't see the amount of track time my previous one did.
Yeah, before my incident, I had already planned on building a miata in the offseason to use half the time in 2015, and cut back on the RS track time. After 4 years of 30+ track days/year, the running/consumable costs + insurance wasn't getting any cheaper.
I'm going to get another .1 GT3, but it probably won't see the amount of track time my previous one did.
If I had a left leg to push a clutch with id have a $12k or under track car for sure.
PDK has been a godsend for me to really enjoy a high end sports car at the track. My GTS has been flawless...but I'm hopefully selling it soon and will take a rest and rethink my approach...and probably end up with a 991 GT3 LoL
I never had a problem with Lockton, they cut a check immediately for my incident, although, with skyrocketing GT3RS values, insuring them for the correct amount is getting difficult and just plain ridiculous. God, I miss my RS something awful.
Will check out On-Track when the time comes. For now, enjoying being self-insured on a $5500 miata track car....lol.
10-15-2014, 06:12 PM
