Track Day Car Insurance

Track Day Car Insurance

Author
Discussion

100 IAN

Original Poster:

1,091 posts

161 months

Friday 18th November 2016
quotequote all
Who takes out Track Day Insurance and who do you use?

I was told it was quite cost effective so got a quote - WTF!

£362 + £31.50 arrangement fee FOR 1 DAY!


mmm-five

11,227 posts

283 months

Friday 18th November 2016
quotequote all
Mine's £218 for 4 days at the Nurburgring (through MORIS). However, my car is now worth about a third of your's, so that probably explains it.

Also, you don't have to insure the full value of the car, you could just insure £10,000 of it - if you think you'll only do that much damage of course.



Edited by mmm-five on Friday 18th November 11:55

anonymous-user

53 months

Friday 18th November 2016
quotequote all
Depends on the insurer and the underwriter. I pay £45 per day through my existing insurer, although admittedly my car is £10k not £35k.

Edited by anonymous-user on Friday 18th November 16:10

Pdelamare

659 posts

127 months

Friday 18th November 2016
quotequote all
Value of the car has a huge impact on the premium.

I find it's more cost effective to have a policy that includes 5 track days a year, with pre-notification.

Dan_M5

615 posts

142 months

Friday 18th November 2016
quotequote all
£188 for 20k of cover for silverstone on the 10th for me

whp1983

1,168 posts

138 months

Friday 18th November 2016
quotequote all
I just don't feel it's worth it, premium is usually 1-1.5% of car value and due to massive excesses you're effectively covering for almost total write off only.

Track days seem so well organised just self insure..... or take something you're less worried about bumping.

mmm-five

11,227 posts

283 months

Saturday 19th November 2016
quotequote all
whp1983 said:
I just don't feel it's worth it, premium is usually 1-1.5% of car value and due to massive excesses you're effectively covering for almost total write off only.

Track days seem so well organised just self insure..... or take something you're less worried about bumping.
Depends what you mean by 'massive' excess.

£1500 on a £15000 policy seems acceptable to me (albeit 3x my road excess), and nowhere near covering only a 'total write off'. Plus you can always 'insure' the excess too.

I'd rather pay £1500 than 'save' £300 after a £15000 write off.

As someone else has said, it's better to get a road policy with a track 'add-on' if possible. Wasn't available in my case as the only one I found that would do it (25k miles, fully comp EU cover, business use, parked in Liverpool and/or London, etc.), came up with a renewal for 10% more a year later but forgot to tell me that the underwriter had removed the track day extension.

gtsralph

1,186 posts

143 months

Saturday 19th November 2016
quotequote all
Dan_M5 said:
£188 for 20k of cover for silverstone on the 10th for me
I am there also.

My insurance with Mannings covers road and track use. Compared with road only cover, the track element for unlimited * UK track days for a year is around £350.

  • Track days organised by Porsche Club, any other recognised club where I am a member, and any ADTO operator. Continental days organised by same operators as above extra £250 per day and Nordschliefe is covered.
Seems much cheaper than event by event, particularly as I do >10 days a year.

timbo999

1,287 posts

254 months

Saturday 19th November 2016
quotequote all
Last year I insured my Elise with Insure My Track Day for a day at Spa. With a value of £12000 I paid £160...

and it was the best £160 I've ever spent as I wrote the car off (at least financially - it was drivable and I drove it home...) and Hiscox (who underwrote it) paid out in full.

So don't

a) assume you won't need it (I've done about 5 or 6 track days a year for the last 15 years and one wet, off camber, bend was my undoing...)

b) think it won't pay out - it did but make sure you get the insurance companies claim documentation signed by a track official at the time of the accident.

sumo69

2,164 posts

219 months

Sunday 20th November 2016
quotequote all
I insured my GTR for the first time on a Silverstone GP track day a couple of weeks ago - it was cold, damp and misty and I thought the risk of both myself and moreso others having an off/making a mistake causing an accident were significantly raised to justify the £114 premium which covered £39k with a 10% excess.

Its an add on to my Pace Ward policy and I took it out when arriving on the day itself.

MrNoisy

530 posts

140 months

Monday 21st November 2016
quotequote all
timbo999 said:
Last year I insured my Elise with Insure My Track Day for a day at Spa. With a value of £12000 I paid £160...

and it was the best £160 I've ever spent as I wrote the car off (at least financially - it was drivable and I drove it home...) and Hiscox (who underwrote it) paid out in full.

So don't

a) assume you won't need it (I've done about 5 or 6 track days a year for the last 15 years and one wet, off camber, bend was my undoing...)

b) think it won't pay out - it did but make sure you get the insurance companies claim documentation signed by a track official at the time of the accident.
That is a sad but interesting story with a good outcome! Can you put in layman's terms what you mean about getting paperwork signed on the day? The covernote I get sent through always says I just have to inform in 48 hours. I have always been a bit suspicious of that!

Sorry if it sounds a bit dumb, i've never even made a road claim in 25 years of driving lol!!!

timbo999

1,287 posts

254 months

Monday 21st November 2016
quotequote all
My insurance company provided me with an accident statement form which was a description of what happened - where I was, what car, what corner, track conditions etc etc. Included in this is a section for a track official to complete and sign.

I assume this is so you can't claim for some other damage etc. My experience is that you need to have this with you at the time and get a track official to sign it for you on the day if you need to claim. I didn't... and then struggled, but fortunately the track day company (RMA) were extremely helpful and sorted it out for me.

MrNoisy

530 posts

140 months

Tuesday 22nd November 2016
quotequote all
Thanks,

That is great info, cheers.

MN

timbo999 said:
My insurance company provided me with an accident statement form which was a description of what happened - where I was, what car, what corner, track conditions etc etc. Included in this is a section for a track official to complete and sign.

I assume this is so you can't claim for some other damage etc. My experience is that you need to have this with you at the time and get a track official to sign it for you on the day if you need to claim. I didn't... and then struggled, but fortunately the track day company (RMA) were extremely helpful and sorted it out for me.

MrNoisy

530 posts

140 months

Tuesday 22nd November 2016
quotequote all
I have used Morris with no complaints on price or communication.

However, I renewed my normal policy this year with A-plan (half price to AF) and got a bolt on 5 days of track cover for the equivalent of half what Morris were charging.

I have so far been very happy with A-plan.

As an aside I got a quote for an event last year from Morris and never bought it. 4 weeks later I remembered I still needed to buy it so went back on expecting it to have gone up but for some weird reason it had actually dropped by 30%!!! This was 2 days before the event.

brillomaster

1,242 posts

169 months

Tuesday 22nd November 2016
quotequote all
I dont have track insurance. all my track cars are worth less than £1000, so if I break it, i'll simply buy another one. Have done 27 trackdays in the last 3 years, and am currently on car (bmw) number 4.

PS never replaced one due to crash damage, all were mechanical failures which werent economical to repair (though this doesnt take a lot when the car is only worth £750)

mikey P 500

1,236 posts

186 months

Friday 6th January 2017
quotequote all
Any more recommend companies that can quote for single track day cover. Have used Morris before but their website is not working currently they can't help by phone and are not emailing back. Insure my track day and A plan have both quoted but hoping for a better price still.
As the car is on finance, chancing it without insurance isn't an option.
Many companies can only offer cover if your policy is with them, but unfortunately none of these were competitive for the annual policy at the time.

Lopey

258 posts

97 months

Friday 6th January 2017
quotequote all
Semi on topic question with this, If one was to crash and make a claim on the trackday insurance, would you have to inform your insurer of the accident for future road policies?

mikey P 500

1,236 posts

186 months

Saturday 7th January 2017
quotequote all
Good question, in many cases it would be the same company, but assuming it wasn't I would be inclined to say maybe not, as I expect main stream insurance companies wouldn't have the provision to record this as a track claim rather than road claim in terms of calculating premium's

timbo999

1,287 posts

254 months

Sunday 8th January 2017
quotequote all
Lopey said:
Semi on topic question with this, If one was to crash and make a claim on the trackday insurance, would you have to inform your insurer of the accident for future road policies?
I did... just told them on the 'phone what had happened - no additional cost for either me or my wife (I am a named driver on her policy).

At renewal time, I used Go Compare and just recorded it as a single vehicle accident and stated the total claim value. Again it didn't seem to make much difference to the renewal cost... but then I:

a) am old
b) have full no claims bonus (which was unaffected by the track accident as it was a different policy - worth noting when considering adding it to your road policy...)
c) have no other claims or convictions.

Worth noting that, as far as I know, my track insurance claim does not appear on the MID so I may well have got away with not declaring it - not worth the risk in my opinion.

timbo999

1,287 posts

254 months

Sunday 8th January 2017
quotequote all
Another minor point is that, as the policy is not a road policy, the car was not declared a Category C write off (or worse!), so if I had rebuilt it no marker would have appeared against it.

I didn't rebuild it as the cost would have been more than buying another as I did both clams in, together with windscreen and a headlight... Elises are not cheap to repair it seems!