So I had the thrill of having a rear tire disintegrate while on the back straight of watkins yesterday. For a failure at 140+, I got off very easily. was able to keep it on the pavement and scrub much of the speed before ultimately hitting. That said, 3 corners of the car are shot and the rear suspension is not in great shape.

I'm looking to learn from the experience of those who've been through the process with Lockton. The car won't be totaled, but I'm concerned about getting a proper valuation for the repair from their adjuster. From people I've already talked to, i've got 2 concerns:

1) my understanding is that they send a normal/stock car adjuster out. The car is heavily modified so even if I get the adjuster the price of the parts, they really won't have a clue as to the cost involved installing/fabricating (for instance, the nose was a 3 piece facia/splitter/undertray, that was supported by a fabricated metal structure. that's not going to be in their book).

2) One person who had a payout from Ontrack (not lockton) said they wanted to come out once, agree on value and write a check. I've never seen all issues be identified until the car is torn down. how have others handled that?

Open to thoughts or experience. I'll probably call them tomorrow or thursday.
feel free to email me directly if you want to keep it private - Michael@hmlcapital.com

 

No problems at all. Notify them but the most important thing is you have your car at a shop you trust. My shop in Chicago area rebuilds and builds Porsche race cars and did an excellent job at identifying issues early on. A good shop should have a good idea of the extent of damage. The adjuster came out took pictures. They paid promptly without any issues.
Good luck not that uncommon for a race shop.
Steve

 

Lockton claims process (back with RLI, I think) was the easiest and fastest I've ever seen. They basically said "OK" and approved everything on the same day. That's NOT what I've seen with other insurances.

 

When you filled out the form, did you add the value of the modifications? That should help to make sure you get the value of them back.

I have not had a claim, but know two people that have. Both cars ended up being totaled. Received a check for the agreed value within a week, minus the deductible.

They also offered a pretty cheap buy back number on both cars.

 

Sorry for your crash. Mine was from a tire failure at the Glen, though exiting the toe and not at your speed.
Lockton/RLI were great. My race shop (SST in CT) received the car and of course knew it, as they had built it. The RLI-assigned adjuster worked with them and recognized the non-stock nature of the car. Good communication though need a bit of prodding, but that is typical in claims.
I was 100% satisfied.
I think if your shop is knowledgeable and cooperative you are more likely to have a good outcome.
Good luck with your repair and getting back on track.