Track Day Insurance-is it worth it? policy details below
Discussion
My previous policy for track day use (bought per track day) covers the following;
-The cost of repairing or replacing an insured vehicle after physical damage or destruction as a direct result of impact when the vehicle is driven at an insured event by an insured driver. Up to the insured amount shown on the schedule.
Additional cover
-The cost of repairing or replacing an insured vehicle after fire damage or destruction following a covered impact. Up to the amount shown in the schedule.
-The cost of repairing or replacing the external casing of the vehicle’s engine, gearbox or differential following a covered impact. Up to the amount shown in the schedule
What it doesn't cover
-Death or third party liability including bodily injury and property damage.
The first statement seems vague to me, especially within the context of what isn't covered. If someone hits me and we spin off track, causing damage to a part of the circuit, and the other party does not admit liability, what then?
-The cost of repairing or replacing an insured vehicle after physical damage or destruction as a direct result of impact when the vehicle is driven at an insured event by an insured driver. Up to the insured amount shown on the schedule.
Additional cover
-The cost of repairing or replacing an insured vehicle after fire damage or destruction following a covered impact. Up to the amount shown in the schedule.
-The cost of repairing or replacing the external casing of the vehicle’s engine, gearbox or differential following a covered impact. Up to the amount shown in the schedule
What it doesn't cover
-Death or third party liability including bodily injury and property damage.
The first statement seems vague to me, especially within the context of what isn't covered. If someone hits me and we spin off track, causing damage to a part of the circuit, and the other party does not admit liability, what then?
daveco said:
My previous policy for track day use (bought per track day) covers the following;
-The cost of repairing or replacing an insured vehicle after physical damage or destruction as a direct result of impact when the vehicle is driven at an insured event by an insured driver. Up to the insured amount shown on the schedule.
Additional cover
-The cost of repairing or replacing an insured vehicle after fire damage or destruction following a covered impact. Up to the amount shown in the schedule.
-The cost of repairing or replacing the external casing of the vehicle’s engine, gearbox or differential following a covered impact. Up to the amount shown in the schedule
What it doesn't cover
-Death or third party liability including bodily injury and property damage.
The first statement seems vague to me, especially within the context of what isn't covered. If someone hits me and we spin off track, causing damage to a part of the circuit, and the other party does not admit liability, what then?
THERE IS NO THIRD PARTY COVER!-The cost of repairing or replacing an insured vehicle after physical damage or destruction as a direct result of impact when the vehicle is driven at an insured event by an insured driver. Up to the insured amount shown on the schedule.
Additional cover
-The cost of repairing or replacing an insured vehicle after fire damage or destruction following a covered impact. Up to the amount shown in the schedule.
-The cost of repairing or replacing the external casing of the vehicle’s engine, gearbox or differential following a covered impact. Up to the amount shown in the schedule
What it doesn't cover
-Death or third party liability including bodily injury and property damage.
The first statement seems vague to me, especially within the context of what isn't covered. If someone hits me and we spin off track, causing damage to a part of the circuit, and the other party does not admit liability, what then?
Sorry to sound shouty but that is the simple answer to your question, blame is completely irrelevant your insurance covers damage to your track day car on a track day as long as you and the event conform to the insurance Ts & Cs simple.
No third party can claim on your insurance you cannot claim as a third party on anyone else's insurance.
All of which is perfectly normal for TD cover.
E-bmw said:
daveco said:
My previous policy for track day use (bought per track day) covers the following;
-The cost of repairing or replacing an insured vehicle after physical damage or destruction as a direct result of impact when the vehicle is driven at an insured event by an insured driver. Up to the insured amount shown on the schedule.
Additional cover
-The cost of repairing or replacing an insured vehicle after fire damage or destruction following a covered impact. Up to the amount shown in the schedule.
-The cost of repairing or replacing the external casing of the vehicle’s engine, gearbox or differential following a covered impact. Up to the amount shown in the schedule
What it doesn't cover
-Death or third party liability including bodily injury and property damage.
The first statement seems vague to me, especially within the context of what isn't covered. If someone hits me and we spin off track, causing damage to a part of the circuit, and the other party does not admit liability, what then?
THERE IS NO THIRD PARTY COVER!-The cost of repairing or replacing an insured vehicle after physical damage or destruction as a direct result of impact when the vehicle is driven at an insured event by an insured driver. Up to the insured amount shown on the schedule.
Additional cover
-The cost of repairing or replacing an insured vehicle after fire damage or destruction following a covered impact. Up to the amount shown in the schedule.
-The cost of repairing or replacing the external casing of the vehicle’s engine, gearbox or differential following a covered impact. Up to the amount shown in the schedule
What it doesn't cover
-Death or third party liability including bodily injury and property damage.
The first statement seems vague to me, especially within the context of what isn't covered. If someone hits me and we spin off track, causing damage to a part of the circuit, and the other party does not admit liability, what then?
Sorry to sound shouty but that is the simple answer to your question, blame is completely irrelevant your insurance covers damage to your track day car on a track day as long as you and the event conform to the insurance Ts & Cs simple.
No third party can claim on your insurance you cannot claim as a third party on anyone else's insurance.
All of which is perfectly normal for TD cover.
daveco said:
Sorry one more question on this.
If the car's value is minimal is there any point in getting track insurance? The back end is currently being eaten alive by rust...
Nope, never insured any of my trackdays cars. Particularly when you factor in the excess and the fact that crashes are unlikely to result in a total loss. If the car's value is minimal is there any point in getting track insurance? The back end is currently being eaten alive by rust...
A few years back I heard stories of an insured driver's insurance company attempting to claw back the cost of repair from the third party.
I.e. an insured driver was hit by a third party on a track day. Insured drivers car gets repaired by insurance company, insurance company (without driver's consent IIRC) then goes after the third party to recover costs. Third party has no insurance (as said, none give third party cover anyway), so had to bear the cost of fighting it personally.
Did that ever get resolved?
That would be my real fear, having brake failure in my scrappy track car and accidentally ploughing into the aforementioned brand new GT3, and their insurance company taking me through the rinser.
I.e. an insured driver was hit by a third party on a track day. Insured drivers car gets repaired by insurance company, insurance company (without driver's consent IIRC) then goes after the third party to recover costs. Third party has no insurance (as said, none give third party cover anyway), so had to bear the cost of fighting it personally.
Did that ever get resolved?
That would be my real fear, having brake failure in my scrappy track car and accidentally ploughing into the aforementioned brand new GT3, and their insurance company taking me through the rinser.
Edited by was8v on Thursday 13th December 10:52
Based on the fact that all you CAN cover is your car, if you consider your car to be disposable then it isn't worth paying for.
Based on the fact that there is no such thing as 3rd party cover then having it will NOT help if someone else considers the accident your fault so it still isn't worth getting in the above circumstances as any Ins Co will just say it is nothing to do with us.
Based on the fact that there is no such thing as 3rd party cover then having it will NOT help if someone else considers the accident your fault so it still isn't worth getting in the above circumstances as any Ins Co will just say it is nothing to do with us.
SonicShadow said:
It was posted here a while ago.
https://www.pistonheads.com/gassing/topic.asp?h=0&...
Wow. That's an eye opener. https://www.pistonheads.com/gassing/topic.asp?h=0&...
The 135 driver was clearly in the wrong, and yet it looks like he didn't face any punishment whatsoever, if the lack of conclusion is anything to go by.
So it really is a case of driving the track carefully and in a car you can afford to have written off. TD insurance pointless in this case.
This is the one that kicked off all the concern about TD insurance and being sued.
https://www.pistonheads.com/gassing/topic.asp?h=1&...
dubious pleasure of him being my mate too. He no longer drives on trackdays, so I take him out to UK trackdays, the ring, spa etc.
https://www.pistonheads.com/gassing/topic.asp?h=1&...
dubious pleasure of him being my mate too. He no longer drives on trackdays, so I take him out to UK trackdays, the ring, spa etc.
Edited by andycaca on Thursday 13th December 14:07
Generally, TD insurance covers only damage to your vehicle.
Not to any other vehicle, the track itself or any person.
The only track that I have heard of claiming for recovery costs, armco repairs etc is the 'Ring, as it is a public road.
Track day insurance generally has an excess of 10% of the value of the car, so if your chosen weapon is a £100,000 Porsche, you will have £10,000 deducted from the cost of any claim you make. So if you cannot afford the excess, don't take the car on track.
And don't forget that any accident you have, and on which you make a claim, will need to be declared as an own fault claim on any insurance policy renewal you have for any vehicle on which you are insured, even if it is only as an occasional third driver on grandma's Fiesta. The insurance industry CUE database will very quickly catch up with you if you think you don't need to declare it.
Technically this applies even if you don't make a claim.....
Not to any other vehicle, the track itself or any person.
The only track that I have heard of claiming for recovery costs, armco repairs etc is the 'Ring, as it is a public road.
Track day insurance generally has an excess of 10% of the value of the car, so if your chosen weapon is a £100,000 Porsche, you will have £10,000 deducted from the cost of any claim you make. So if you cannot afford the excess, don't take the car on track.
And don't forget that any accident you have, and on which you make a claim, will need to be declared as an own fault claim on any insurance policy renewal you have for any vehicle on which you are insured, even if it is only as an occasional third driver on grandma's Fiesta. The insurance industry CUE database will very quickly catch up with you if you think you don't need to declare it.
Technically this applies even if you don't make a claim.....
daveco said:
Wow. That's an eye opener.
The 135 driver was clearly in the wrong, and yet it looks like he didn't face any punishment whatsoever, if the lack of conclusion is anything to go by.
So it really is a case of driving the track carefully and in a car you can afford to have written off. TD insurance pointless in this case.
Blimey I remember reading through all that - just at the time I was starting out with trackdays, so didn't make for good reading!The 135 driver was clearly in the wrong, and yet it looks like he didn't face any punishment whatsoever, if the lack of conclusion is anything to go by.
So it really is a case of driving the track carefully and in a car you can afford to have written off. TD insurance pointless in this case.
I think that thread kept getting distracted at the topic of insurance claims vs personal injury liability. I personally insure all of my trackdays (it helps having a specialist road policy which includes trackdays) and cover my personal injuries through various keyman/life cover policies but I would still be absolutely gutted if someone took me out like that M135 did, and would make me seriously question not going back on track again.
I'd like to think the TDO's (via the ATDO?) could have some kind of register of members rather than the relative free-for-all that's currently in place, so they could share "bans" and "black flag" kind of information between each other - doesn't seem like it would be too much admin or added cost for what could be a big gain, who knows if this M135 driver is out terrorising people now with a different TDO.
Do not insure my car ... a new .2 GTRS , generally only go on good quality days .... and try to stay away from others a bit . Have raced for over 20 years so learn a bit , and have raced much more expensive cars , even on slicks in the rain .......so learn to care and have a lateral awareness
hunter 66 said:
Do not insure my car ... a new .2 GTRS , generally only go on good quality days .... and try to stay away from others a bit . Have raced for over 20 years so learn a bit , and have raced much more expensive cars , even on slicks in the rain .......so learn to care and have a lateral awareness
That's what makes "the 135i" thread so scary. Good luck being laterally aware of that happening!Gassing Station | Track Days | Top of Page | What's New | My Stuff