Track Day Insurance

[stephenowen]

I am guessing their are lots of other factors to consider here , like age, occupation , area , storage and previous claims or convictions .I am 48, hold a clean licence and a manager. The car is stored in my garages to the rear of my home. I would never take what a broker tells you as gospel from my previous experiences. I was unfortunate to receive an IM10 on my licence accompanied with a large fine at the age of 18. My broker had informed me that I could drive any other vehicle on my policy . It was only when I was stopped for speeding in an unmarked Cosworth (36 in a 30) in my dad's car that I took to the small print following a visit to the local police station. The cover was there,but I needed to be 21! My poor dad who was on holiday received 6 points and me also coupled with a £3k fine which I paid. The worse bit was I paid monthly and I needed to take a trip to the courts to pay the installment each month! Good life lesson though that's undoubtedly proofed useful knowledge throught the years.

 

[AndrewCS]

Aye … a timely reminder, another lesson !

 

[Motorhead]

As always, the detail is in the fine print.

My car is always garaged but my ClassicLine policy stipulates that when at home the car has to be garaged from 10:00pm until 6:00am and not just left on the drive, but other than digging further into the policy details there's no obvious indication of the penalty for not adhering to that stipulation.

Jeff

 

[ralphmusic]

Jeff,

Doesn’t your policy have an "ordinarily" conditionality on the garage obligation?

Ralph

 

[Motorhead]

Quite possibly Ralph. I need to look at it more carefully and report back.

Jeff

To quote the policy: If your vehicle has been declared as garaged it must be garaged between the hours of 10pm and 6am or no claims will be paid. This restriction does not apply while your vehicle is away from your home or normal garaging address during the course of a journey.

 

[ralphmusic]

...Was told … unlimited trackdays with no prior notification but having just checked the providers (KGM Motor) paperwork … there are significant discrepancies !

Call to ManningUK Monday … !!!

Andrew, I'd be interested in the differences between cover as explained and docs. - every day is a learning day

Ralph

 

[AndrewCS]

Hi Ralph,

Certificate & Schedule … ITD - Trackday Cover

2. You have informed your broker of the date and location of the trackday
Was told … no need to notify
3. No more than 5 trackdays in total are undertaken in any one period of insurance
Was told … unlimited number of trackdays
7. An additional policy excess of £1,000 will apply
K74 / K75 state the usual 10% of market or agreed value is the excess … to clarify this £1,000 ?
10. Nürburgring use / cover excluded
Was told … would be covered for additional cost

Am still working through the cross references between `clauses` .. will shout up if anything else jumps out !


As with my previous Marsh - Aviva policy, perhaps ManningUK cover the `differences` themselves ?

...

Jeff,

I also have the 2200hrs - 0600hrs garage clause

 

[ralphmusic]

Andrew,

The policy document from my Mannings brokered KGM policy (which I read earlier this morning) has none of those restrictions. I have Policy Terms (they are called endorsements) K29 (garaging whilst at home address), K75 (UK track days - no limit on numbers no obligation for pre-authorisation - ATDO, RMA, Clubs), K78 (mileage) and K79 (protected NCD).

General Exclusions 5 covers the Nordschleife and the additional premium for European track days (you may be taking the negative as a negative overall, but there is an "unless")

If before or after talking with Mannings a copy of my document would be helpful, PM me.

Ralph

 

[stephenowen]

When I asked who underwrites for Mannings policy , they replied themselves which I found to be a strange reply , I would not expect a broker to underwrite their own policies. They did offer me unlimited track day cover at 10% excess of the vehicles value. The Nuremberg ring did carry an extra cost of £250 . My interpretation of that offer was that a separate policy would be arranged at a discount to cover a trip to the Nurburg. The risk from driving the Nurburg is still the same and an additional payment will not offset the claim in my opinion.

 

[Motorhead]

It's been a while since I've had a Manning policy so it's possible that there's now either a different underwriter or policy conditions, but I don't recall there being any limitation on the number of track days nor the overnight garaging stipulation, and I don't remember having to notify them in advance of track day attendance for which a policy excess of 10% of market value was in place. I didn't have an agreed value at the time, although that may well have been available.

My ClassicLine policy includes an acceptance of the Club's agreed value, full UK and European breakdown cover as well as approved UK track days with the usual excess, although I have to notify them in advance and they issue a cover note for the event. The only claim I've made when an unfortunate impact with a kamikaze cat required replacement of the front PU and some plastic bits was handled very efficiently, even when I chose my own repairer.

Jeff

 

[geoff lane]

My Mannings policy is the same as Ralph's.

 

[AndrewCS]

PANIC OVER []

Read the paperwork `correctly` prior to making what would have been an embarrassing call [:-]

Apart from K11 - no commuting … I have the same as you Ralph and Geoff ...

Thank you