insurance when racing
 

Does anyone use a separate insurance policy when racing. I asked my agent and was told that my company would not cover any liability as a result of racing.
Thanks

IIRC there was a thread regarding NCM having lined up with an ins company. Search around.

:)

You can get insurance for HDPE. That is fairly common and inexpensive. Racing, however, is not possible to insure except for theft or fire losses. Try www.ontrackinsurance.com. The owner, Steve Katz is very knowledgeable and is a racer himself (even if he does race a Porsche!)

Actually insurance for race cars is available. It's pretty specialized and it seems that certain carriers specialize in covering cars in certain series. Just do a google search for race car insurance and you will get a listing of some of the carriers. It's not cheap and it seems to be catered more towards high dollar pro type racing cars i.e. a few hundred k type cars.

If you rent a car from TRG they require that you carry insurance. The last I heard it was a $50,000 deductible policy. They use your Visa card for the first $50,000.

Richard Newton

For HPDE type events check with Locton Affinity, they do insurance for those kinds of events.

Many companies offer pit, paddock, transport to and from and storage, once you put a wheel on track, you're on your own. On track policies are expensive. Last time I checked, approx. 10% of the value of the car PER EVENT. So if you can self insure and put 10% away each time you race, in 10 events you can upgrade to a new car.

If you are an "arrive and drive" guy, the rule is if you break or wreck it and it's your fault, you bought it. If it wasn't your fault, YOU STILL BOUGHT IT. :D

I use Lockton for my HPDE days. It's typically about $200 per weekend for my 2004 Z06 with a value of $28,000 or so.

How about liability for actual racing, not HPDE?

Call Adam Boca At the NCM. He recently started offering HPDE insurance.

Did you hit too many zeros?

That's not an insurance policy, that's a "go away and don't bother us" memo.

:thumbs:

No he's about spot on as far as what I have been told about actual racing insurance policies. It's a high risk policy and they charge a premium for it but for a lot of teams they get a bundle policy to cover a series of races and multiple cars. If you think about it most teams can take say a $50k hit for an insurance policy but if you total a $500k car and have to pay cash for a replacement before the next race their season is more than likely done!

My bad, I thought he was referring to hpde.

:D

Does track insurance cover damage that you may cause to other vehicles or the track itself, or is it strictly limited to damage to your own vehicle?

HPDE Insurance that I have used covers our vehicle only. Lockton Affinity. Paid in 4 days from claim to check in hand. Total loss.

There was no track damage.

Other vehicles damaged in an incident are not covered and are the responsibility of the owner regardless of fault. In some cases in our club when guys have been responsible for causing an incident resulting in the wadding up of other drivers cars they have paid for them in full. In other cases there has been no compensation whatsoever from the driver who caused the incident to the driver who was unfortunate enough to be caught up in the melee.

There is more to crashing at the track than just car damage as I found out firsthand.

Airlift for my Wife was 40K and I understand now they do have insurance for that. State Farm, while they do not pay for vehicle damage that occurs on track does however does pay Medical coverage. They also paid loss of income from her missed time at work. Aflac paid immediately as well. MetLife through her employer denied the claim and did not pay. Nor would her life insurance through Metlife have paid had she been killed. The life insurance policy I have for her through Northwestern Mutual would have. The Metlife exclusion language while not citing HPDE specifically does state "Racing, Speed Test or Stunt driving" of which it is none of those but that was the reason for denial. As I believe the denial was unethical business practice and I will never have another Metlife product.

I would carefully review ALL of your policies before heading out to the track so that you and your family are protected in the event of a tragedy.

If you have any specific questions about track insurance I would be happy to help. I know quite a bit about it.

Good post.

Hey Steve....missed you at Summit.

I also had a claim with Lockton a few years back and had no issues with them.

Wish I could have made it.

I remember that incident well. You were turning into 1 at Summit and smash. Guy bobbles the heel and toe and his foot slips off the brake and it only got worse from there. No fault of yours whatsoever. Makes a great case for carrying track insurance if you can.

I'll be using this for next years events. Price was very reasonable in an initial quote, <$200 for an event. An "event" is in question. I think it depends on your car, the track you are at, and the club you are running with. I've done a couple PCA events and they boast about how they have the lowest rates because of their safety record.

Calling Adam is easier said than done, I've dialed the number many times and never spoke to this mystery man. I always end up in the call center when prompted by the voice mail. Bobbi was there and she set up my policy for my C3 and the rate is fantastic.

Sorry I haven't been accessible. We spend most of the day on the phone. If you talk with Bobbie Jo, then you are basically talking to me too. She is my right and left hand, and assists with all aspects of the agency.

If you are calling about HPDE Insurance, our program is exclusively online at www.ncminsurance.com/HPDE. If you are wanting Collector Car/transit, storage, paddock insurance please us at 877.678.7626. Bobbie Jo or I can assist.

Thanks and hope to work with you all!

Adam Boca