Anyone have any experience with The Open Track?

theopentrack.com

Thanks

Rick

 

It has come up a few times before here and in GT3 board.

In essence, I have it and won't be renewing.

 

Why won't you be renewing? Send PM if you prefer..... Thanks.
Tom

 

Me, too (PM). Was just about to sign up last night. Would love to hear you experience.

 

ontrackinsurance.com is owned by a PCA club racer and they cover DE.

Lockton Insurance is another one that people use.

If you club race the only one out there, that I know of, is Peter Sereda, Laurel Consulting, 5000-1901 Yonge St., Toronto, ON M2N 7E9, 519-355-5622

Answered these questions before I realized it was you Rick. Recognized the picture of your sweet GT4!

 

i just bought a policy last week...
it's half price compared to 12 weekends at lockton...
hope to never use it but i have higher coverage at a cheaper price... i just need to do 12 weekends to break even then pile on at least 8 more weekends so i feel like i got my money's worth... lol

 

A small group of us have been conversing with Ben and Jerod from theopentrack over the past few weeks. We have been attempting to determine if their policy is as good as it appears. While they still need to clarify a few small details with respect to the coverage and the exclusions, we believe they offer a very good option for the following reasons:

1.) Because their premium is based simply on the insured value you choose, the cost per event goes down the more events you do. For those of us doing more than a handful of events this policy is likely to be less expensive than the competition. And if you do a LOT of events the cost per event goes way down.

2.) No need to register each event with them

3.) The ability to insure very high-value specialty vehicles. They can write policies up to $4M

4.) You can add up to three cars per policy for little additional cost. The premium is based on the value of the most expensive car.

5.) They are insuring the car, not the driver. Therefore, if you are a student at a DE event and you'd like your instructor to drive your car, you're covered. If you're an instructor and you'd like a fellow instructor or a friend to drive your car, you're covered. If you are sharing a car with a friend or family member, you only need one policy.

6.) They are underwritten by Aspen, a very large and highly respected company.

7.) From our conversations with them we've learned they have enjoyed a very favorable loss ratio since they got started. This is likely to be due to their customer profile. The minimum insured value they currently accept is $75,000 and this is likely to be increased to $100,000 soon. The thinking here is that people with cars worth $100K+ tend to be a responsible and careful group. Obviously, if you want to insure your car for much less than $100K then this policy may not make sense for you.

8.) They are working on expanding their insurance offerings. For example, those of us with dedicated track or race cars can insure them on the track. But what about damage that occurs while trailering to and from the track? This is one additional area of coverage they are looking into.

I've never purchased track insurance in the past. This will be my 40th consecutive year of tracking cars and I have never had a loss. Obviously, I am way ahead of the game. But I now have two children that are driving at the track with me. As we know, s**t happens. The time and the price seem right to begin insuring my cars now.

As others have noted in the several other threads referencing track insurance, the true test of the policy is in the claims. I expect more and more people will be insuring this year with theopentrack than last year. It's only a matter of time before more claims are filed. Hopefully, we will hear from some of those people about their experience.

Edit: This coverage is for driver's education and open track events only. They do not provide coverage for racing, time trials,ar any competitive events.

 

^ is this only for DE & TT?...so nor racing as Luigi stated?

 

Or not...

 

My experience in discussions with OpenTrack have been similar to what Bean Town Kman posted. I've had a policy for the past year and plan to renew it. I track / DE 2 different cars (my RS and my 964) and the flexibility of the policy is fantastic. they cover private track days, open track days, DE days, anything but time trials or racing. No competitive events (which I don't do).

If there are concerns about the insurer or the policy I'd like to hear what people have to say. My experience so far has been good in dealing with Ben and the team there.

 

Pretty sure the valet was driving that one...

 

I only use Ontrackinsurance.com and they have the best coverage and are amazing to work with.

 

How is their coverage better?
I haven't looked closely at the On Track policy (I need coverage for my Canadian expeditions) but both Lockton and Open Track coverage provide good quality broad coverage.
Hey, I'm rooting for all 3. It's good to have choices.

 

I hope others will chime in but OnTrack covers damage you do to the track and I don't believe Lockton does. There are a few other small things like that.

 

You might want to read the Lockton on track physical damage policy. It definitely provides on track coverage.
They also offer a paddock, storage, and transport policy for when the car is not being driven (perhaps you were looking at that policy?).
It's been pointed out that this observation related to damage to the track, which in my haste as a resident insurance geek I failed, to note.