On-Track DE Insurance
08-06-2007, 05:24 PM
#46
Rennlist Member
Originally Posted by RickBetterley
I'd like to think that we wouldn't be guessing about things that could really hurt someone's reputation.
Maybe the original poster can tell us who his insurer is, then we'll know for sure.
Maybe the original poster can tell us who his insurer is, then we'll know for sure.
08-06-2007, 05:24 PM
#47
Addict
Lifetime Rennlist
Member
Lifetime Rennlist
Member
Join Date: Oct 2005
Location: On Rennlist, apparently
Posts: 4,447
Likes: 0
Received 37 Likes
on
18 Posts
Originally Posted by Lawrence_P
It is Snellings Walters. Sorry for the fire drill but I was pissed. I JUST received a call from them advising their "underwriting department" had a meeting and were advised there is to be no "radius" limitation. Supposedly I will be covered.
I will post again later.
I will post again later.
Please let us know how well you are treated on the claim (now that it is covered
). A lot of us are very interested in getting some reliable DE coverage and so far, there are a lot of rumors and speculation.Thanks for the update.
08-06-2007, 05:26 PM
#48
Rennlist Member
Originally Posted by Lawrence_P
It is Snellings Walters. Sorry for the fire drill but I was pissed. I JUST received a call from them advising their "underwriting department" had a meeting and were advised there is to be no "radius" limitation. Supposedly I will be covered.
I will post again later.
I will post again later.
08-06-2007, 05:27 PM
#49
Addict
Lifetime Rennlist
Member
Lifetime Rennlist
Member
Join Date: Oct 2005
Location: On Rennlist, apparently
Posts: 4,447
Likes: 0
Received 37 Likes
on
18 Posts
Originally Posted by rmag
Must be a Snell Policy. LaurelDE deductable is 15% of car value, so deductable would be 9k.
08-06-2007, 05:33 PM
#50
Addict
Rennlist
Site Sponsor
Rennlist
Site Sponsor
Join Date: Jun 2007
Posts: 99
Likes: 0
Received 0 Likes
on
0 Posts
Misinformation was my biggest fear!
There is no geographic limitation except for North America. This was my biggest fear...that experts were not available to answer questions properly. Please see my site sponsorship sticky on top of this forum.
I hope everything works out for you,
Chris Maume
I hope everything works out for you,
Chris Maume
08-06-2007, 05:37 PM
#52
Addict
Rennlist
Site Sponsor
Rennlist
Site Sponsor
Join Date: Jun 2007
Posts: 99
Likes: 0
Received 0 Likes
on
0 Posts
Yes it is...
I'm sorry this has happened and I'm hoping it will be properly resolved. This never should have even been an issue since the policy has ALWAYS been for all of North America with NO geographic limits from the garaged address.
I run a specialty motorsports insurance business just because of this!
Please call me if you have questions or need advice!
Chris
I run a specialty motorsports insurance business just because of this!
Please call me if you have questions or need advice!
Chris
08-09-2007, 09:21 AM
#55
Racer
Join Date: Jan 2003
Location: CT Valley Region
Posts: 339
Likes: 0
Received 0 Likes
on
0 Posts
I learned yesterday my claim will be covered.
Irrespective of whether or not the "radius" limitation in the Declaration is binding, and I think it is not (the "Coverage Territory" in the policy is the entire US and Canada, see para. 7, page 4/6. The territory is not limited by some "radius"), SIU has agreed to "waive" it in this instance. It is not settled whether this is a one time exception only or a clarification of coverage. From them:
With regards to the “radius” stipulation, a final decision has not been made but should be made soon. As you know this type of insurance is the first of its kind and it is our goal to interpret the policy in favor of the certificate holder if the certificate is unclear.
Originally, the purpose of the radius was to limit the risk to tracks local to the certificate holder assuming that the certificate holder would be more familiar with local tracks and less familiar with tracks far away.
As a 19 year member of BMWCCA and former member of PCA, I know that those driving instructors with experience such as yourself often venture to tracks much further than 100 miles from their garage. Even though the radius stipulation is enforceable, it radius appears to be unrealistic.
If we decide to retain a radius it will most likely be expanded to a higher amount such as 500 miles, but it appears that we are moving towards eliminating it altogether. If we retain a radius stipulation, it will be discussed on the application for insurance.
If you have questions, please post them or PM me.
Irrespective of whether or not the "radius" limitation in the Declaration is binding, and I think it is not (the "Coverage Territory" in the policy is the entire US and Canada, see para. 7, page 4/6. The territory is not limited by some "radius"), SIU has agreed to "waive" it in this instance. It is not settled whether this is a one time exception only or a clarification of coverage. From them:
With regards to the “radius” stipulation, a final decision has not been made but should be made soon. As you know this type of insurance is the first of its kind and it is our goal to interpret the policy in favor of the certificate holder if the certificate is unclear.
Originally, the purpose of the radius was to limit the risk to tracks local to the certificate holder assuming that the certificate holder would be more familiar with local tracks and less familiar with tracks far away.
As a 19 year member of BMWCCA and former member of PCA, I know that those driving instructors with experience such as yourself often venture to tracks much further than 100 miles from their garage. Even though the radius stipulation is enforceable, it radius appears to be unrealistic.
If we decide to retain a radius it will most likely be expanded to a higher amount such as 500 miles, but it appears that we are moving towards eliminating it altogether. If we retain a radius stipulation, it will be discussed on the application for insurance.
If you have questions, please post them or PM me.
Last edited by Lawrence_P; 08-09-2007 at 11:41 AM.
08-09-2007, 09:52 AM
#56
Rennlist Member
This is the Great West policy? Who sent that message?
There is no raidus limitation that I see in the policy whatsoever, as you note, and of course there is only one track within 100 miles of me, and I don't bother with that one....
Very weird. I wonder what they are smoking.
There is no raidus limitation that I see in the policy whatsoever, as you note, and of course there is only one track within 100 miles of me, and I don't bother with that one....
Very weird. I wonder what they are smoking.
08-09-2007, 11:04 AM
#57
Chris I sent you an application- please let me know ASAP. And thanks for your advice on this board.
02-18-2008, 11:47 AM
#59
1st Gear
Join Date: Feb 2008
Posts: 1
Likes: 0
Received 0 Likes
on
0 Posts
Just visited the Snellings Walters website and found this ...
"Temporarily not Accepting New Clients
Please check back later."
Anybody know why? Maybe while they settle the 'radius' issue? Or have they stopped writing?
"Temporarily not Accepting New Clients
Please check back later."
Anybody know why? Maybe while they settle the 'radius' issue? Or have they stopped writing?
02-18-2008, 11:51 AM
#60
Rennlist Member
I just received this response to renew my SW track/DE policy:
"Our agency has decided not to continue the program - I am waiting on contact information that I can forward to you."
"Our agency has decided not to continue the program - I am waiting on contact information that I can forward to you."