Insurance for Driving Events?

[morrism]

Hello everyone,

I am investigating buying an insurance policy to cover my on-track driving with COM. So far I have initiated talks with 2 agents that offer Driving Event coverage. Both cover the car for a year of events at ~4% of the car's declared value. Then there is a deductible of 4% - 10% of the car's value.

Has anyone here bought DE coverage? If so, who is covering you? Have you had success with any claims?

I also wonder if these policies explicitly exclude events with timing???


Here are the agents I am talking to:

Anna McManus
Liability Underwriters Inc
anna@liabund.com
678-513-4799 - Phone

Christopher S. Maume
Prosure.net
c.maume@prosure.net


Thanks!

[swinecanfly]

What car do you drive?

[morrism]

I drive a stock/unprepared Mazda3. I am personally not too worried about damage to the car, but I have offered to let a friend co-drive and he wants to be covered on the track.

Why do you ask?

[swinecanfly]

First post - just curious if you were Christopher or Anna.

I also drive a stock unprepared Mazda3, but for street duty only.

[morrism]

First post - just curious if you were Christopher or Anna.

I also drive a stock unprepared Mazda3, but for street duty only.

Fair enough - it is certainly health to have a health level of suspicion about posts in online forums! If Will M reads this post, perhaps he can vouch that I am not a shady insurance agent; Will was my instructor at Watkins Glen .

[WillM]

I can vouch that Michael is the real deal. Excellent student and well on his way to being a great driver! :thumbleft: He asked me the same question (insurance) and I could not provide an answer. Never heard of track insurance before. Michael - thanks for sharing your info with everyone.

[brucesallen]

Most normal insurance covers HPDEs. It is just a school; not competition. Our time trial day may be out. Check with your insurance company and change if they don't cover it.

Mass. had a law against covering and track driving but it is my impression that many insurance companies covered it anyway.

[boltonite]

http://www.capcoverage.com/motorsports.html

This company (a sponsor of BMWCCA club racing) offers on-track and off-track (i.e., trailer, storage) coverage from loss or damage or liability.

I personally do not carry their insurance but I know several bmw club racers who do...mainly for trailer theft/damage, not on-track incidents.
FF

[JackFFR1846]

Be very careful.....

Most Mass policies specifically exclude ANY organized automotive event. This includes track, autocross and pushed to the limit, fun rallies. Mass law requires liability but that automatically drops to the state limits which I think are like $10k. No collision for driver schools. My parents owned an insurance agency until a few years ago and my mom would personally yellow highlight all the verbage telling me the above. It was a result of the yahoo in the Porsche who totaled twice, collected twice then went after the track modifications.

COM, BMW, SCDA carry event liability policies that cover us for liability only.

I looked into another company for track coverage. They specifically cover only collision dammage and no liability.

Be absolutely sure what the policy covers.

jack

[morrism]

http://www.capcoverage.com/motorsports.html

This company (a sponsor of BMWCCA club racing) offers on-track and off-track (i.e., trailer, storage) coverage from loss or damage or liability.

I personally do not carry their insurance but I know several bmw club racers who do...mainly for trailer theft/damage, not on-track incidents.
FF

Thanks for the link! I will see if I can get a quote from them too.

[morrism]

I can vouch that Michael is the real deal. Excellent student and well on his way to being a great driver! :thumbleft: He asked me the same question (insurance) and I could not provide an answer. Never heard of track insurance before. Michael - thanks for sharing your info with everyone.

Thanks for the kind words Will .

[morrism]

To keep anyone who might be interested up-to-date, I got a quote from Anna. Here are the numbers:

Stated Vehicle Value: $14,000
Deductible (10% of vehicle value): $1,400

Premium (larger of 3% of vehicle value or $750): $750
Policy/Certificate Fee: $100
* Subtotal: $850
Surplus Lines Tax (4% of subtotal): $34
* Total Cost of Insurance: $884.00

This cost covers the stated value of the car for one year's worth of track events.

I am not sure how appropriate this policy is for COM though, as there is an exclusion which says "We will not pay for any loss for a vehicle involved in any timed events or competitive racing." Anna tried to assure me that COM's type of events would be covered, but I would hate to pay for a policy that I cannot collect on.

Hopefully I will get a competing quote from Chris.

[chaos4NH]

http://www.capcoverage.com/motorsports.html

This company (a sponsor of BMWCCA club racing) offers on-track and off-track (i.e., trailer, storage) coverage from loss or damage or liability.

I personally do not carry their insurance but I know several bmw club racers who do...mainly for trailer theft/damage, not on-track incidents.
FF

I sent in a request for quote, he acknowledged by my request and since then (3 weeks), I have heard NOTHING!

[morrism]

http://www.capcoverage.com/motorsports.html

This company (a sponsor of BMWCCA club racing) offers on-track and off-track (i.e., trailer, storage) coverage from loss or damage or liability.

I personally do not carry their insurance but I know several bmw club racers who do...mainly for trailer theft/damage, not on-track incidents.
FF

I sent in a request for quote, he acknowledged by my request and since then (3 weeks), I have heard NOTHING!

I have a similar experience. I sent Dan from capcoverage my application too but I never got a not saying that he had received my application. It turns out that Dan did get my application and submitted it for a quote. Dan from capcoverage and Chris from prosure.net both use the same broker (WSIB) for the insurance and since Dan put through his application before Chris my quote is only valid through Dan. This leaves me feeling bad as Chris was kind enough to keep in me up-to-date throughout the process.

Live and learn.

BTW, I was in direct contact with WSIB and was told the following about the delays: "Please accept our apologies for the delay in processing your application. We have had an enormous response to this program and unfortunately, the time frame for the release of quotes has not been up to our normal service standards. Please know that we are diligently working to correct the problem."

My quote should come through shortly and I will post the details.

[morrism]

Ok, here is the quote from Dan Thompson (and WSIB). As I understand, Chris M would have offered the same policy/rates.

Period: 12 months from inception.
Stated Vehicle Value: $14,000
Sum Insured: $11,500
Excess: $2,500 ($2,500 is the minimum excess, otherwise it is 4% of vehicle value)
Premium: $1,000 + 3% taxes and fees
Total: $1,030

It is my understanding that WSIB looked specifically at the COMSCC.org website and determined that we would be covered for the track sessions that are NOT time-trial related. Like Anna's offering, they also cover our time at Canadian tracks.