Trackday insurance

[PhilC4S]

Hi, I've just received a quotation for trackday insurance for Cadwell Park on 30th April. It is much more (£650) than in previous years, mainly due to the fact that the car now has to be insured for its full value. Can anyone suggest an insurance company that might be better value/cheaper?
Thanks

 

[The Eagles]

My current insurance policy with ClassicLine includes cover for 6 x PCGB track days per annum.

A supplement is payable for non-PCGB trackdays, and a slightly larger supplement for European trackdays.

 

[595triple]

I would ask yourself why you are bothering with the insurance at all?

Unless it has changed, track day insurance has an excess of 10% of the cars value and does not cover third parties. It is basically only an insurance against your own mistakes (or stupidity). Of course mistakes happen but if you have invested time learning to drive on track. i.e. CAT Driver course or similar, understand about adjusting your tyre pressures for grip etc, and drive at 7/8 10ths instead of the limit, you should not need insurance. I drive reasonabley quick on track (991.1 GTS) and also compete in Sprints and occasionally Hillclimbs. I take the view I drove it there and need to drive it back. I have had slides but I understand how my car behaves so they don't panic me.

Most of the incidents I have encountered on track days are generally due to people who are idiots and think the track is exclusive to them.

If you want to reduce the chances of an incident then another option is your choice of track. Goodwood is very fast but has a closed pitlane with fixed session time. That separates people on track and stops you spending too long on track at once. You don't learn much going round in circles. You need break time to reflect and improve.

 

[Greenman986S]

The Op might get more replies by posting in the general, rather than model specific, sub forum....

 

[PhilC4S]

Many thanks for your replies. I agree with your points regarding the benefit of insurance, but there is a lot of money at stake! I have contacted Classicline, thanks and have posted the question in the general forum. Cheers

 

[Red997C2Sport]

I would ask yourself why you are bothering with the insurance at all?

Unless it has changed, track day insurance has an excess of 10% of the cars value and does not cover third parties. It is basically only an insurance against your own mistakes (or stupidity). Of course mistakes happen but if you have invested time learning to drive on track. i.e. CAT Driver course or similar, understand about adjusting your tyre pressures for grip etc, and drive at 7/8 10ths instead of the limit, you should not need insurance. I drive reasonabley quick on track (991.1 GTS) and also compete in Sprints and occasionally Hillclimbs. I take the view I drove it there and need to drive it back. I have had slides but I understand how my car behaves so they don't panic me.

Most of the incidents I have encountered on track days are generally due to people who are idiots and think the track is exclusive to them.

If you want to reduce the chances of an incident then another option is your choice of track. Goodwood is very fast but has a closed pitlane with fixed session time. That separates people on track and stops you spending too long on track at once. You don't learn much going round in circles. You need break time to reflect and improve.

Would an idiot crashing into your car not be covered? That's what I'm insuring against when I buy track cover.

 

[595triple]

Nope. None of the cover I ever looked at includes third parties. I would be amazed if it did as the very nature of being on track puts you into close company with people of hugely varying experience and ability. If people start racing and trying to outbrake people then the risk of an incident increases massively. These things are not supposed to happen on track days but I can assure you there is always at least one who thinks the rules don't apply to them. Fortunatley Mandy and co have clamped down on this.

The cover is only to protect you from something you do like losing control and hitting a barrier. Note that depending on your cars value, this is also where there is no guarantee the insurance is worthwhile. When I last looked at this, the cover for my GTS was about £600. As it was then valued at £80K, the excess was £8000 as it was 10% of the value. My view was that while there was always the possibility of having a major accident that did major damage or even wrote the car off, that bad day was going to cost me at least £8600. If I only had minor damage up to £8000 in value, I was paying for that anyway and had just given the insurance company a £600 for the privilage of being insured.

I have not looked into the policies like Lockton offer that include free track insurance for PCGB track days. The insurance costs more anyway but if you did several track days it might pay off at least in comparison to one off premiums. I doubt that the basic cover is any different.

Trust me if I thought there was a cost effective way to protect my pride and joy I would take it. When you apply to places like Adrian Flux they ask for experience. I have race experience and multiple track experience on two wheels and four. Seems to count for very little as I am going on track along with people who potentially have none and also with a range of cars of varying performance.

So insurance is a personal choice. On a track day I am there to have some fun and get my 'fix'. I will go around Goodwood in about 1.30, and Donington in 1.21 and thats fine for me. I'm not trying to set any records or win a race. Enjoy it and drive home.

 

[Red997C2Sport]

Nope. None of the cover I ever looked at includes third parties. I would be amazed if it did as the very nature of being on track puts you into close company with people of hugely varying experience and ability. If people start racing and trying to outbrake people then the risk of an incident increases massively. These things are not supposed to happen on track days but I can assure you there is always at least one who thinks the rules don't apply to them. Fortunatley Mandy and co have clamped down on this.

The cover is only to protect you from something you do like losing control and hitting a barrier. Note that depending on your cars value, this is also where there is no guarantee the insurance is worthwhile. When I last looked at this, the cover for my GTS was about £600. As it was then valued at £80K, the excess was £8000 as it was 10% of the value. My view was that while there was always the possibility of having a major accident that did major damage or even wrote the car off, that bad day was going to cost me at least £8600. If I only had minor damage up to £8000 in value, I was paying for that anyway and had just given the insurance company a £600 for the privilage of being insured.

I have not looked into the policies like Lockton offer that include free track insurance for PCGB track days. The insurance costs more anyway but if you did several track days it might pay off at least in comparison to one off premiums. I doubt that the basic cover is any different.

Trust me if I thought there was a cost effective way to protect my pride and joy I would take it. When you apply to places like Adrian Flux they ask for experience. I have race experience and multiple track experience on two wheels and four. Seems to count for very little as I am going on track along with people who potentially have none and also with a range of cars of varying performance.

So insurance is a personal choice. On a track day I am there to have some fun and get my 'fix'. I will go around Goodwood in about 1.30, and Donington in 1.21 and thats fine for me. I'm not trying to set any records or win a race. Enjoy it and drive home

My bad, as my question wasn't specific enough, I actually meant "would my car be covered if someone crashed in to me". I've always thought it was but I've just checked and my cover from Moris covers this issue, see below. I understand you could never get third party insurance as your insurer would never be able to quantify the risk.

My main point is that an idiot crashing in to me is my biggest risk I "think".

Here's what Moris cover:

What am I covered for?

This is a Trackday Accidental Damage policy designed to cover damage to your car in the event you have an accident on the circuit during the course of your trackday. You are covered if: ✓ You lose control and crash into the barrier, armco or surrounding scenery. ✓ Another participant crashes into you causing damage to your car. ✓ You damage your car by crashing into another participant. ✓ You suffer accident damage (as described above) should you suffer sudden mechanical failure

 

[595triple]

If it covers you against an idiot then thats good. There is always that chance but no one should be trying to 'stuff it up the inside'. The briefings specifically state that. You overtake on the left when given a signal by the car infront.

However I would then quantify this with the excess.

Ultimatley if piece of mind helps you enjoy the day more then go for it until you have done enough of these to assess the real risks.

 

[Red997C2Sport]

If it covers you against an idiot then thats good. There is always that chance but no one should be trying to 'stuff it up the inside'. The briefings specifically state that. You overtake on the left when given a signal by the car infront.

However I would then quantify this with the excess.

Ultimatley if piece of mind helps you enjoy the day more then go for it until you have done enough of these to assess the real risks.

Exactly there's some peace of mind with insurance, even with it's limitations. If I do a track, and organiser, I know I'll often not bother with insurance but a new track / organiser I don't like I'll take it out.

 

[Lancerlot]

Most motorsport veterans don't bother for the reasons admirably expressed above. After several events you will discover self insurance soon outweighs the cost of high premiums and limited-cover track insurance.

Not that I would ever advocate this of course, but I've even heard cars being taken back onto the public highway and damaged again in order to claim under a road policy. Tut tut!

Regards,

Clive

 

[Red997C2Sport]

Most motorsport veterans don't bother for the reasons admirably expressed above. After several events you will discover self insurance soon outweighs the cost of high premiums and limited-cover track insurance.

Not that I would ever advocate this of course, but I've even heard cars being taken back onto the public highway and damaged again in order to claim under a road policy. Tut tut!

Regards,

Clive

I've heard of this practise and understand it was much easier to accomplish in years gone by. Apparently insurance companies are performing much more dui diligence these days