Tier1Terrier

I'm getting quotes from various track day insurance providers. I'm valuing my 991.2 C2S at around $100k + $10k in mods.

I'm getting quotes between around $720 - $1100 with a 10% of car-value deductible. They only offer 3 day coverage even though I only need 1 day. Do those rates seem typical?

The companies I'm looking at are OnTrack, Lockton, RLI, Hagerty, Open Track. Am I missing any others that are worth looking into?

Jared Rodeheaver

That is probably about right. I found Lockton and OnTrack to be the best. For reference last year when I insured my 2019 Cayman valued at 90k it was $503 with a 15% deductable. You can save 15% if you prepay a 6 pack with OnTrack....

DER951

Those numbers are in line with what I’m paying with Lockton.

Steve113

we are $719. all in no tax for $110,000 in coverage per event regardless of number of days 1-3 of the event
also offer 10% of if you buy 3 or more at same time and 15% off if you buy 6 or more at the same time

OnTrackinsurance.com

needmoregarage

I’ve used OnTrackInsurance the most, and also Open Track. Your quotes seem about right although Steve^ just zeroed in on details from his company (who I always found excellent to work with).

Personally I found Lockton and Hagerty to be really high. I’ve had annual policies and multi-event policies and single-event policies. I get whatever fits my season best. Buying multi “packs” definitely results in saving, and if you know up front you’ll do multiple events, it makes sense to buy in multiples.

apw

It's all priced on a per event basis (which is why I don't do 1-day events) and that pricing seems consistent with what I've seen. Seems like there's opportunity if someone can find an underwriter that will do reduced price 1-days or a true "per-day" rate.

JPS

As said already, not too far off. I don't do 1 or 2 day events anymore either, for just that reason. Sucks.

B-Line

Do the multievent packages expire? Or under what conditions might the policy not apply?
Example:

- Do all the packages need to be used in the same calendar year? Or in a 365?
- If you get a new vehicle does the multi event package transfer to the new vehicle?

ldamelio

Question for Steve113 (I'm a happy client) or others in the know - why are premiums per event and not per day?

I'm not an actuary, but I would think that 3x track time is close to 3x risk. If anything, I would think that day 3 fatigue, brake and tire wear etc. might increase risk. Any data out there?

Turbodan

most events are 2 days so they get to bank that $

Steve113

Great question and thank you for your business Idamelio - so the thought process was at least for us most events are 2 days. Drivers are not in a rush the first day to do every second of each session. The second day most people leave early except the hard-core people.

So, we set up the rating bases based on this - I can honestly say now the proper rate should be the same rate Per day as it is per event. Unfortunately, the number of accidents in the last 2 years is through the roof and severity as well. Crashes are easily 2 out of 100 drivers and 90% of accidents are totals

Hate to say it but organizers, instructors and participants need to start looking at was to limit crashing or all the programs will be gone. Cars today are wayyyy more capable than their drivers and this leads to driving way above your talent.

Clubs bring me in all the time to talk but we need to do more to protect the future of HPDE.

ldamelio

Interesting. I've only been at this 3+ years and 62 total days. My purely anecdotal observation is that the rate varies by organization and driver demographics. Crashes seem rare in my home PCA region (RTR). Big emphasis on safety and education. Very conservative with promotion to higher run groups. The few crashes I've seen at our events usually involve visiting drivers; often younger kids in high powered cars. The regulars know each other, drive predictably and self-regulate with discussions in the paddock or classroom if there's been a close call.

I see more crashes with another non-PCA group I run with. It's often in their private run group which is on track separate from beginner, intermediate or advanced. This is also usually 20 somethings in megabuck exotics or highly tuned imports. At the risk of being a curmudgeon, they seem to be chasing Instagram likes as much as anything else. This organizer allows self-tech and there are usually beater cars in the beginner and intermediate groups that will drop fluids, etc. The advanced group runs well with no nonsense..

I know it's hard to gather detailed data profiling HPDE risk. In a perfect world, things like driver demographics and experience, car characteristics besides value, event organizer, run group, street driving record etc. would create a more detailed risk profile to determine premiums.

thebishman

This is interesting Steve, but tbh it doesn't surprise me.

Do you have/can you share the data on whether most of these events at DE's occur in the Novice group, or, as I have been told anecdotally or numerous occasions, the more experienced run groups?

Steve113

Highest rate about the same Intermediate and advanced/instructor . Beginner group always less

99% single car accidents
80% of the time turning in to early or just getting in way to hot

As away I am an open book . The whole reason I started the program was to give back to the sport by protecting the integrity of HPDE