Trackday Insurance
Discussion
Also try www.moris.co.uk they also have a limited NCB system. However sit down before you get a quote from any of the Trackday only insurers
>> Edited by kevin ritson on Monday 27th February 13:55
>> Edited by kevin ritson on Monday 27th February 13:55
Heritage are now doing track insurance too, will be giving them a call in a few weeks.
By far the most economical way to do it is to get track cover as part of your annual policy with someone like CCI or Heritage rather than insuring the trackdays seperately.
Also depends on where you're going as to whether insurance is worth it (but that's obviously your choice).
By far the most economical way to do it is to get track cover as part of your annual policy with someone like CCI or Heritage rather than insuring the trackdays seperately.
Also depends on where you're going as to whether insurance is worth it (but that's obviously your choice).
I was quoted £230 for £23,000 of cover on one day through a specialist track cover company. The excess was £2,300 so you are talking roughly a 1% premium with a 10% excess (and i believe this was how they calculated it). To make it worthwhile you would have to cause £2,530 of damge, so i decided not to bother (I have now done three track days, so I would now have to do £2990 of damage to 'break even').
I never worked out if it would affect your road no claims discount and am tempted to say it doesnt as it is a separate policy, but knowing insurance companies, i would not be surprised if it did!
I never worked out if it would affect your road no claims discount and am tempted to say it doesnt as it is a separate policy, but knowing insurance companies, i would not be surprised if it did!
mike_knott said:
I was quoted £230 for £23,000 of cover on one day through a specialist track cover company. The excess was £2,300 so you are talking roughly a 1% premium with a 10% excess (and i believe this was how they calculated it). To make it worthwhile you would have to cause £2,530 of damge, so i decided not to bother (I have now done three track days, so I would now have to do £2990 of damage to 'break even').
I never worked out if it would affect your road no claims discount and am tempted to say it doesnt as it is a separate policy, but knowing insurance companies, i would not be surprised if it did!
If you make a claim on any motor insurance it goes into a Database that all insurance companies have access to. (You agree to this data sharing as part of your policy, which gets round the data protection act). With that in mind, if you do not declare a previous claim, when taking out new insurance, the chances are the company will accept your money and insure your vehicle. However if you ever make a claim they will check the DB and if your name comes up as having made a claim in X years, then they void your insurance. Not only will you not get a penny, you stand a chance of then being prosecuted for driving with no insurance. Hope that helps
>> Edited by beachbum on Monday 27th February 17:18
beachbum,
...even though track cover is provided separately, and therefore does not form part of the standard insurance policy?
If this is the case it would make the case for track insurance even less attractive than it already is. Loss of, say 30% NCD in the first year, 20% in the second and 10% in the third year following a claim would result in extra premiums of £600 on a £1,000 (pre-NCD) policy (assuming they didnt put you back to zero no claims, in which case it would cost you thousands!)
I find it disgraceful that they can exclude track cover from a standard policy, charge you extra for it, then screw you on your standard policy's ncd if you claimed.
...even though track cover is provided separately, and therefore does not form part of the standard insurance policy?
If this is the case it would make the case for track insurance even less attractive than it already is. Loss of, say 30% NCD in the first year, 20% in the second and 10% in the third year following a claim would result in extra premiums of £600 on a £1,000 (pre-NCD) policy (assuming they didnt put you back to zero no claims, in which case it would cost you thousands!)
I find it disgraceful that they can exclude track cover from a standard policy, charge you extra for it, then screw you on your standard policy's ncd if you claimed.
My understanding is that you need to take out Trackday insurance, jus tso that you have cover whilst on the Track. Without it, you would have no cover and hence no money to help you rebuild the car should you have an accident.
The fact that they then take it into consideration for your next years quote if you do make a claim, is not different than the taking your standard policy into account. I am not defending thier stance, but I can understand it.
The fact that they then take it into consideration for your next years quote if you do make a claim, is not different than the taking your standard policy into account. I am not defending thier stance, but I can understand it.
I was thinking about these annual policies that include 4 (for example) track days.
How do they know that you've done a track day, unless you have an accident and claim? Shirley this means you could do as many as you like, as long as you don't have more than 4 trips into the kitty litter?!
Do you have to inform them beforehand?
I checked with my insurer, that stated in their T&C that "non-competitive track days" are covered. Now, to me this means all track days, as they're all non-competitive. But this sounds too good to be true. I called to confirm, which they did, (from Calcutta). Didn't fill me with confidence...
How do they know that you've done a track day, unless you have an accident and claim? Shirley this means you could do as many as you like, as long as you don't have more than 4 trips into the kitty litter?!
Do you have to inform them beforehand?
I checked with my insurer, that stated in their T&C that "non-competitive track days" are covered. Now, to me this means all track days, as they're all non-competitive. But this sounds too good to be true. I called to confirm, which they did, (from Calcutta). Didn't fill me with confidence...
cuzza said:
Do you have to inform them beforehand?
Yep - with CCI, you phone up and tell them where and when and they send you a confirmation letter and strike one off the list under your name.
What your ins co. is promising sounds too good to be true (and so probably is)
Quite, and when I tried to confirm it, I was unable to speak to anyone clued up enough to say yes or no. The first phone call went like this:
Me - "...doing a non-competitive track day....want to confirm...as per your terms...."
Ms. 'Smith' in Calcutta - "What sort of modification are you making to the car?"
Me - Click.
at ^^^ Thanks Guys.
That's WAY more expensive than I was expecting. I think I'll look into the "included in the insurance" idea first. Unfortunately I only renewed it last Saturday and got such a brilliant deal (£499 fully comp - unmodified S1, 37yrs old, garaged, 6,000 miles p.a.) that I'll be reluctant to give it up. Sounds like it may be cheaper in the long run, though.
That's WAY more expensive than I was expecting. I think I'll look into the "included in the insurance" idea first. Unfortunately I only renewed it last Saturday and got such a brilliant deal (£499 fully comp - unmodified S1, 37yrs old, garaged, 6,000 miles p.a.) that I'll be reluctant to give it up. Sounds like it may be cheaper in the long run, though.
Gassing Station | Elise/Exige/Europa/340R | Top of Page | What's New | My Stuff