Track Day Insurance Claim and Queries

Track Day Insurance Claim and Queries

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Discussion

Goatwidcoat

Original Poster:

34 posts

36 months

Tuesday 9th April
quotequote all
I will not go into full details while this is still ongoing.

I have always had track day insurance as I can't afford to say goodbye to £17k should the worst happen. This weekend unfortunately, it did. Even more frustrating that I was a completely innocent party and taken out by one of two other cars nearly having a coming together which sent them spinning, one into me despite me being completely on the right to let them pass safely... Regardless of liability you insure your own car on track and I am glad I have the insurance. It sucks but that's the risk we take. Everybody on track was very sympathetic towards me but it's me that foots the bill at the end of the day.

The impact was relatively low speed (30mph ish) but hit my rear quarter which has caused structural damage and would need a jig to pull back and the front wing. New bumper, wing, likely arms to both front and rear wheels at a minimum. I have a repairer pulling the car apart to quote the damage and whatever else may have been damaged that could not be seen. He will have finished this by the end of today. Despite severe toe in on both wheels I could still drive it the mile to the workshop from the track, engine and brakes are all fine, no knocks or bangs (although I was only doing 20mph), wheels aren't buckled, passenger door was unscathed etc so I am really hoping it can be saved. Of course with enough money anything can be saved. The repairer said he has fixed far far worse and said this appears straightforward which gives me hope.

I have never had to claim on road or track so far so this is all new to me. So far the insurance experience has been very good. I put in the claim after the event, it was forwarded to the underwriters at 9:30 Monday morning and by 10am had a call from them explaining next steps. All good and fast so far. I need to forward them before photos of the car (which I have), the photos of the damage after (which I obviously have) and I am free to get any repair quotes and forward them on before they will assess whether it is a total loss or not. I have declared value as £17k but it will be their own market valuation at the end of the day. I already have numerous adverts of similar cars in the £15k-£18k region so feel confident in a valuation fight but I am going off what should be the absolute rock bottom of £14k in the back of my head right now. As a general rule of thumb they said that if the repairs start to exceed 50% of the value it will be written off. I have no indication of the cost until the end of today and I really hope the car can be saved as the remaining 95% of the car is perfect and way too good condition to go out this way.

Going off the best case scenario - the repair is sub approx £7k and is covered by insurance, how does this affect a road policy and cat status of the car? I have read so many differing views on this in these forums and ideally want replies from people who have had track policy insurance repairs or track policy total losses.

The provider is track only and it is not a combined road and track policy. When my normal insurance ask if you have had "any" incidents I believe I would still have to declare this even though it occurred on track and also as my own fault annoyingly, correct? I feel like it must appear on some database somewhere.

Will my car (which is road registered and insured on the road) receive a cat S status when repaired through track insurance, or do these only get applied to cars through road insurance policies and salvage auction etc?

My second best scenario is it is written off, the repair value is only just over 50% (let's say £7.5k), I get paid out £15k, less £1k excess and the current unknown of scrap car value. The insurer told me if it's total loss I will get both scenarios presented to me. If the scrap car value is low, I may end up making a little bit out of this. This assumes the repair cost is not astronomical and the scrap value is low. I really want to keep the car if I can!

Worst case none of the above works in my favour, I get paid out and an incredibly well sorted car otherwise is going to a salvage auction. I don't even want the money, I just want the car ideally.

It is a rubbish situation I hoped to never find myself in but that is the risk unfortunately. I have been on many track days and never seen any car on car incident until my own.

Edited by Goatwidcoat on Tuesday 9th April 09:55

timbo999

1,298 posts

256 months

Tuesday 9th April
quotequote all
In 2015 I had a big spin at Spa and hit the Armco with both ends of my Elise.

The insurer (insuremytrackday underwritten by Hiscox) wrote the car off as the repair cost was many thousands more than the insured value. It was picked up by a chap who said he could rebuild it for me but, after some soul searching, I declined.

I declared the loss of my normal car insurance for 5 years, but can't say it made any material difference to the costs. One broker did say to me that it wouldn't as the loss wasn't recorded - make of that what you will.

The upside was that I bought a much cheaper track car (R53) and have had some great road cars since (currently an Alpine).

I sold the MINI just before the pandemic and now do track driving in other people's cars, so the risk of loss is someone else's (although there is some insurance excess to be paid) but still miss proper track days in my own car.

SpudLink

5,932 posts

193 months

Tuesday 9th April
quotequote all
A few years ago I bounced my car off the barriers at Brands GP circuit. Entirely my mistake with no one else involved. Repaired under my road and track policy costing a 5 figure sum, which was close to 50% of the value.
I declared this accident when renewing insurance on both cars (different insurers) for five years, but it never made a noticeable difference to premiums.

Goatwidcoat

Original Poster:

34 posts

36 months

Tuesday 9th April
quotequote all
SpudLink said:
A few years ago I bounced my car off the barriers at Brands GP circuit. Entirely my mistake with no one else involved. Repaired under my road and track policy costing a 5 figure sum, which was close to 50% of the value.
I declared this accident when renewing insurance on both cars (different insurers) for five years, but it never made a noticeable difference to premiums.
Did your car then be come a Cat S or N after it had been repaired? Or whatever the previous letters were depending how long we are going back.

Goatwidcoat

Original Poster:

34 posts

36 months

Tuesday 9th April
quotequote all
timbo999 said:
In 2015 I had a big spin at Spa and hit the Armco with both ends of my Elise.

The insurer (insuremytrackday underwritten by Hiscox) wrote the car off as the repair cost was many thousands more than the insured value. It was picked up by a chap who said he could rebuild it for me but, after some soul searching, I declined.

I declared the loss of my normal car insurance for 5 years, but can't say it made any material difference to the costs. One broker did say to me that it wouldn't as the loss wasn't recorded - make of that what you will.

The upside was that I bought a much cheaper track car (R53) and have had some great road cars since (currently an Alpine).

I sold the MINI just before the pandemic and now do track driving in other people's cars, so the risk of loss is someone else's (although there is some insurance excess to be paid) but still miss proper track days in my own car.
Thank you for the response.

Think I will declare just to be on the safe side. I definitely don't want a £20k paperweight as my daily if something happened with that and it was voided.

Petrus1983

8,832 posts

163 months

Tuesday 9th April
quotequote all
Repaired cars don't go onto MIAFTR - only when deemed a total loss, as such it won't have a category if repaired.

SpudLink

5,932 posts

193 months

Tuesday 9th April
quotequote all
Goatwidcoat said:
SpudLink said:
A few years ago I bounced my car off the barriers at Brands GP circuit. Entirely my mistake with no one else involved. Repaired under my road and track policy costing a 5 figure sum, which was close to 50% of the value.
I declared this accident when renewing insurance on both cars (different insurers) for five years, but it never made a noticeable difference to premiums.
Did your car then be come a Cat S or N after it had been repaired? Or whatever the previous letters were depending how long we are going back.
No, but not sure if the fact that it was originally registered through the IVA process rather than type approval affects the category.

E-bmw

9,261 posts

153 months

Tuesday 9th April
quotequote all
Petrus1983 said:
Repaired cars don't go onto MIAFTR - only when deemed a total loss, as such it won't have a category if repaired.
^^^^Wot 'e said.

If the car is repaired it isn't a total loss and won't go on any register, it is just a car that has been repaired, it is regardless of the cost.

Goatwidcoat

Original Poster:

34 posts

36 months

Tuesday 9th April
quotequote all
E-bmw said:
^^^^Wot 'e said.

If the car is repaired it isn't a total loss and won't go on any register, it is just a car that has been repaired, it is regardless of the cost.
Ah I always thought it was any repair gets recorded, not written off and then repaired. Thank you.

Petrus1983

8,832 posts

163 months

Tuesday 9th April
quotequote all
Goatwidcoat said:
E-bmw said:
^^^^Wot 'e said.

If the car is repaired it isn't a total loss and won't go on any register, it is just a car that has been repaired, it is regardless of the cost.
Ah I always thought it was any repair gets recorded, not written off and then repaired. Thank you.
Adding to this - you may find a local Indy sway the balance. Your insurer will probably need to use manufacturer approved parts etc. That then seriously affects the 50-55% ratio - and the parts are exactly the same! If you like the car - try and get it fixed.

Goatwidcoat

Original Poster:

34 posts

36 months

Tuesday 9th April
quotequote all
Petrus1983 said:
Adding to this - you may find a local Indy sway the balance. Your insurer will probably need to use manufacturer approved parts etc. That then seriously affects the 50-55% ratio - and the parts are exactly the same! If you like the car - try and get it fixed.
The underwriter has already said I can use anybody to quote for the repairs so got an indy on the case already. It's a 20+ year old Jap Import never made in the UK so under normal insurance it would be written off just for a £50 wing alone and unavailability and I've already managed to source it. Hoping this keeps it cheaper and into the repair category.

Petrus1983

8,832 posts

163 months

Tuesday 9th April
quotequote all
Goatwidcoat said:
Petrus1983 said:
Adding to this - you may find a local Indy sway the balance. Your insurer will probably need to use manufacturer approved parts etc. That then seriously affects the 50-55% ratio - and the parts are exactly the same! If you like the car - try and get it fixed.
The underwriter has already said I can use anybody to quote for the repairs so got an indy on the case already. It's a 20+ year old Jap Import never made in the UK so under normal insurance it would be written off just for a £50 wing alone and unavailability and I've already managed to source it. Hoping this keeps it cheaper and into the repair category.
This all sounds really positive - keep us posted with the progress smile

Sub8

56 posts

103 months

Wednesday 10th April
quotequote all
Had a 20K off a few years ago, also with insuremytrackday.

No need to report the claim as not on the road or on a road car policy.

Car was written-off but not recorded as such, as again not a road car policy.

Bought it back and sold it to chap that was going to re-build it.

Edited by Sub8 on Wednesday 10th April 12:09

Goatwidcoat

Original Poster:

34 posts

36 months

Wednesday 24th April
quotequote all
Hi all - an update on the car. £8k to fix and all signed off by the insurance with no faffing about with write offs and buying it back, Let the rebuild commence! Very happy with the outcome. The repairer invoices the insurer for the total less my excess which I send to him separately.

Once the repair cost was sent over along with all photographs etc it took their engineers less than a week to agree (without seeing the car in person) and authorise the repair.

It was a surprisingly smooth experience. It was insured with Moris Track Day insurance who I can 100% recommend after having to unfortunately require their services! I've not looked into the cost of buying insurance for subsequent dates yet but I am intrigued to see how much it will be compared to what I was paying.

Petrus1983

8,832 posts

163 months

Wednesday 24th April
quotequote all
Really nice to hear some positive insurance feedback. How long should the repair take?

mmm-five

11,273 posts

285 months

Wednesday 24th April
quotequote all
Looks my years of paying MORIS premiums for the 'Ring without ever claiming has been used to offset your claim biggrin

Goatwidcoat

Original Poster:

34 posts

36 months

Wednesday 24th April
quotequote all
Petrus1983 said:
Really nice to hear some positive insurance feedback. How long should the repair take?
Should find out in the next day or two. Will take a week to buy and collect parts and then the painting is done elsewhere so might be delays in their availability etc. I'd guess maybe a month. I'm just glad it can be fixed up. At least I'll save a month in tax as that happens to expire in a week. Silver linings haha

Goatwidcoat

Original Poster:

34 posts

36 months

Wednesday 24th April
quotequote all
mmm-five said:
Looks my years of paying MORIS premiums for the 'Ring without ever claiming has been used to offset your claim biggrin
Thank you for your generous donations!

Goatwidcoat

Original Poster:

34 posts

36 months

Monday 29th April
quotequote all
Got my renewal on my normal road policy for my none track car in 3 weeks and figuring out if I need to say I have made a claim or not is a minefield. The underwriter who has paid out said it is a track policy, nothing to do with road risk, no need to mention to road insurers. Admiral who I am currently with said I do not need to declare. Greenlight and Adrian Flux said they do need to know. Insurance will forever be a joke.

No change to circumstances, max no claims and a clean license and the same car I was paying £450 a year for 2 years ago went to £750 and now to £1k despite more no claims and the car devaluing £10k and this is before I decide I do/don't declare a claim! Rant over!

Update - just spoke to somebody else from Admiral and they said I do need to tell them. Clear as mud.

Edited by Goatwidcoat on Monday 29th April 13:41

mmm-five

11,273 posts

285 months

Monday 29th April
quotequote all
Even MORIS's own FAQ (under no claims bonus though) says that 'it depends' on the insurer/underwriter, as to whether it will affect your road policy/NCB.

Which seems like it could be a nice little earner for insurance companies, who do demand disclosure...although I scratched my alloy wheel last week when I was doing the brakes...so wonder if I need to declare that too, as they say "any accident" needs to be reported.