WNeal

There have been many threads on HPDE Insurance and there are some companies now looking at it.

ie: http://forums.corvetteforum.com/show....php?t=2094588

For a $30,000.00 vette, one event insurance is about $220.00
This is getting near the cost of a one day event.

? Would you pay more for HPDE Insurance than the cost of the event itself ??


With fuel costs, tires etc. this certainly ups the ante for a single day or w/e event.

Drive Safe

SouthernSon

I had insurance for a 12 month period from July of last year til this year. Total cost was $1k. Pretty good coverage but I was not able to attend as many events as I had originally planned so the cost per event was a little higher than I wanted. Really, it doesn't matter now because the carrier advised there would be no renewal since they had changed their mind on offering the policy any longer.

Aardwolf

Is this coverage for the car or is liability? I won't pay to insure my car but I do wonder about the liability issue. Is there one? Does the track cover that?

mousecatcher

that's highly specific to each event.

mousecatcher

the cost of the event itself is a fraction of the total cost anyway. the hurting i put on tires and brakes is the biggest expense.

95jersey

With the amount of events that I do, it just wouldn't make sense...plus you only insure a % of the value of your car, not like a street insurance with $500 or $1000 deductible. Your looking at 20% deductible, which unless you do MAJOR damage or total the car, you will be paying for it all out of your pocket anyway, so what is the point?

My insurance provider still covers HPDE, and when they do not, I will find another insurance company that does, when they do not, find another. When everyone stops insuring cars at HPDE (which will eventually happen), I literally sell the car that same day and buy a Miata.

Wicked Weasel

if they offered reasonable coverage for the entire year I would think about it, but at $200+ per event I am not going to pay that. I have 20 events this year

Slalom4me

Snipped from the thread link

Are statistics about track incidents being collated and made available
to the public, yet?. It seems that news of the vivid incidents spread by
word-of-forum and/or the media, but how frequent & extensive are the
overall losses from incidents for amateur motorsports events?

My vote is that the coverage fee should be based on actuarial
assessments of the risks and payouts. If this amounts to figures close
to the costs of events, I'll be surprised.

.

mousecatcher

You can bet that it is. With a very healthy profit on top.

Slalom4me

I don't have a problem with anyone earning a reasonable profit.

However, if there is insufficient data, then firms are more likely to be
responding to a perceived market opportunity and padding rates to
ensure there is sufficient risk premium that the company remains
rightside up, no matter what.

With greater data, less adventurous insurers might put a toe in the
water with the result that participants have wider choice and lower
costs?

.

Feffman

We are insuring a $37,000 car for about $1,100 annually for 10 events. It seems the break point is about 6 events to pay per event or annually.

Feff

Dirty Howie

What mainstream insurance carrier do you have that covers HPDE ?


DH

Wicked Weasel

I know Geico has covered HPDE in NJ.

robvuk

I suspect that this poll should have been asked in a different way. If you have a $200k race car, the cost of 4 or 5 hundred is far more valuable than to someone who has $20k invested.

RaleighSS

I just paid 150 for 25K coverage on my Z for the Mazda event this weekend... Event was 370$

Mikelly

This is pretty tricky...

I hit a groundhog two weeks ago at the track and the damage would have been $5200 had I not sourced the parts and repaired the cosmetics myself... Of course today the car rolled into the fuel can holder in my car trailer and re-damaged some of what I fixed, so I'll have to replace the lower spoiler and bumper cover, plus two inner fenderwells any way, but the point in all this is to me, it isn't worth the claim. I'd think that anything less than $10K in damage, I'd fix myself anyway and not "devalue" the car anymore than tracking it already does...

If money wasn't an issue, I'd get track insurance, but then again, if money wasn't an issue...

Mike

outnumbered

I think if you are doing few events a year and are not very serious about tracking you should just drive below your personal limits and most likely you will be fine without the insurance cost.

In my case I decide to purchase a car that I can comfortably afford to lose in the event of an accident. If you can't afford the financial loss either get a cheaper car, get the insurance or don't go to the track.

Wayne O

I have been running with Professional Auto Sports (Proautosports) a Division of ASA Racing out of Phoenix. To get your competition license you initially take their driver's orientation course which is taught by a State Certified Instructor. Although they offer various groups (street cars, karting, race groups, time trials, open-wheeled, etc.) their 3 street car levels in the Performance Driving Program are un-timed sessions and despite getting quite competitive, are considered as a HPDE course. Most insurance companies will cover your car in these un-timed levels (mine does). Accordingly, a lot of very fast, talented drivers stay in these levels to maintain insurance coverage. The group itself provides great liability coverage.

This is an excerpt from Proautosport literature....

"...We protect our membership with $5 million in liability insurance. Our insurers are the well known St. Paul Liability Insurance Company and Lloyds of London. We have never had a liability claim, resulting in an excellent rating with our insurers. In fact, last year we averaged 3,000 car event days between multiple car on track incidents, including both street and race cars....Our ASA-Racing Competition License also carries with it an additional $500,000 in on-track accident and medical insurance."

I'll continue to run at Proautosports and I'm also joining another time trials group this fall which runs at (mostly) NASA sponsored events. My automobile insurance will not cover my car at these events and I don't plan on buying separate 'track' insurance. I hope NASA affords some liability coverage but for the car itself, I'm prepared to accept the risk.

morris4608

I am more worried about liability insurance and long term disability insurance than anything. If I'm willing to put my car on the track then I should be willing to write it off as a loss. However, injuring an instructor or another driver is a different issue all together. It's very scary to think an accident while doing my hobby could prevent me from earning future income that my family depends on. I would be willing to pay for liability and disability insurance at a cost greater than the event.

fire_n_ice

If you buy the single event insurance for $220 and have an accident and then submit a claim, have you used up your only bullet? i.e. will they ever insure you for an event at $220 again?