Yet Another Insurance Question

[digginfool]

Clock is winding down on my 30 day automatic coverage from State Farm and I'm still shopping for insurance. There are some pretty cheap rates out there but there's also a lot of restrictions. I don't mind the mileage restrictions since I know I won't put more than 2 - 3K per year on it but some of the others are ridiculous. Basically your limited to being on a 25 foot leash to your car. Forget about taking it out for anything other than a car show. One of the options I'm looking for is an insurance company that allows you to use your car in an organized track event such as Hooked on Driving. One insurance company won't allow my wife to drive because she has no experience in high performance autos yet at the same time coverage for the vehicle ends the moment you use it in a high performance environment. I'm not looking for race coverage but it would be nice to have coverage while attending a performance driving school in my own car. After all, isn't it my car that I'll be driving on the road? Any suggestions out there?

[digginfool]

Anybody? Does coverage exist that covers those types of activities?

[Barnsnake]

I seriously doubt you will find that kind of coverage at any price level you could tolerate.

[twobjshelbys]

You won't find any insurance company that will cover you on the track. Get it from one of the regulars (I recommend Chartis) and buy track day insurance. Usually about $200-300/day. If you're serious about tracking then you should buy an old Galaxy or Fairlane, weld in a roll bar, and put a cammer in it anyway.

[digginfool]

I didn't really expect to find insurance that covers any race event but enough of these track day entities such as HOD and NASA suggest that some policies may cover instructional programs that it was worth asking. As far as the comment regarding an old Comet or Fairlane, no need to be a smarta$$. I have no desire to race my BDR but definitely interested in developing more skills with it. I've driven many high performance vehicles, on and off track, from a lowly Fiat X1/9 and an MGB, to a Turbo TransAm, a Mustang GT to a 454 'Vette, several other classic hot rods as well as a Murcielago and have done the Richard Petty Experience several times. I want to explore the capabilities of my car but have no desire to go wheel-to-wheel. If there is a policy out there that covers supervised high performance driving, then I'd like to know about it. So, I ask the question one last time; is anybody aware of a company that writes coverage for track day events or includes coverage in the base policy?

[cobrajeff]

Guess I missed the part about the Comet...I used to autocross and open track my '65 Caliente before I bought my first GT350 (many moons ago).

I am not aware of any insurance company that will cover you for ANY kind of track event. Most policies these days even specifically exclude "driving schools", or any kind of track use. I believe driving the car on the track these days is pretty much at your own risk.

Jeff

[digginfool]

I don't know where the Comet thing came from either. Must be dust in the attic. It's all good. If a policy offered coverage, cool. Reality is I stand more of a chance crunching my BDR on the roads of South Florida than I do running around Homestead, PBIR or Sebring. You wouldn't believe the moves people pull around my Cobra. I find myself driving as defensively in my Cobra as I did when I drove street bikes. I guess because they're about the same size (at least compared to my daily driver).

[DAVID GAGNARD]

I am not aware of any insurance company that will offer any kind of insurance for any kind of track use, be it instructions or not.....
BTW: I work in the insurance industry,in claims....

Regardless of what any agent tells you,be sure to rear the policy top to bottom,front to back carefully!!!!!!!!!!!
Virtually all policies excempt any kind of ogrgnized racing and/or TIMED events,whether it be on a race track or public road or private property....Auto Cross would be a timed event....

I've seen some policies that even exclude any kind of "display of speed",regardless of where it is........

Nothing personal here, but Cobras are not a good risk for an insurance company to insure, that's why soo few insure them....Most are "assembled" by people with unkown skills,using unkown components, they don't have airbags/side impact protection/5mph front/rear bumpers/crumple zones and are short wheelbase,lightweight vehicles with overpowered engines,driven by owners with unkown driving skills.....looking at it from that perspective, would you insure these cars????

Basically when your on a race track,be it racing/open track days,or a driving school, your own your own.....I'd suggest if you can't afford to lose your investment in your car, you may want to think about it before getting on a track with it......

David

[digginfool]

Originally Posted by DAVID GAGNARD

I'd suggest if you can't afford to lose your investment in your car, you may want to think about it before getting on a track with it......

David

First of all, purchasing anything other than the real deal is not an investment. Secondly, if you're in the insurance business then you know why people insure items of value. I choose to live in a hurricane zone and pay insurance premiums accordingly for everything I insure. If I choose to take my car on a track and somebody offers a policy, just like the risk I take in the location I live, I expect to pay appropriate premiums so in case of loss, it's not totally out of pocket. In no way does that indicate my ability to afford to crash my Cobra. I can afford to pay for a new house if a hurricane blows it down but I insure it anyways. Same with my cars. Insurance is a calculated gamble and if the premiums are acceptable, I'm willing to take the gamble. The question was, is there an insurance company willing to wager with me? It wasn't about whether or not I can afford to take my car on a track.

[DAVID GAGNARD]

Originally Posted by digginfool

First of all, purchasing anything other than the real deal is not an investment. Secondly, if you're in the insurance business then you know why people insure items of value. I choose to live in a hurricane zone and pay insurance premiums accordingly for everything I insure. If I choose to take my car on a track and somebody offers a policy, just like the risk I take in the location I live, I expect to pay appropriate premiums so in case of loss, it's not totally out of pocket. In no way does that indicate my ability to afford to crash my Cobra. I can afford to pay for a new house if a hurricane blows it down but I insure it anyways. Same with my cars. Insurance is a calculated gamble and if the premiums are acceptable, I'm willing to take the gamble.

not I can afford to take my car on a track.

No disrespect was meant, and if I offended you with the statement, I apologize.....
The point is/was, I know of/have worked some claims where expensive cars (Ford GT/Roush Mustang to name a few) were totalled while "on track" and informing the owner he had no coverage while on track was quite a shock as they assumed either their coverage or the track insurance would cover them while on track....That's why I said read the policy carefully, they are changing and exclusions are being added all the time....

The question was, is there an insurance company willing to wager with me?

Short answer is NO..........

David

[digginfool]

I finally determined a solution. There is a company that offers very reasonable track day insurance. I went ahead and insured my BDR with Barrett Jackson for $405.00 per year and when I want to attend an HPDE event, I can purchase coverage for ~$350.00 per event. Here's the link:

HDPE Insurance

[twobjshelbys]

Originally Posted by digginfool

I finally determined a solution. There is a company that offers very reasonable track day insurance. I went ahead and insured my BDR with Barrett Jackson for $405.00 per year and when I want to attend an HPDE event, I can purchase coverage for ~$350.00 per event. Here's the link:

HDPE Insurance

Hmmm, sounds like exactly what I suggested (Barrett Jackson == Chartis). Sorry if the humor in the Fairlaine escaped you.

[digginfool]

Originally Posted by twobjshelbys

Hmmm, sounds like exactly what I suggested (Barrett Jackson == Chartis). Sorry if the humor in the Fairlaine escaped you.

Yeah, I guess I don't get it. Actually, I would be more willing to race my BDR than a Galaxy with a cammer in it. That's a rare bird.

[JustOne]

My wife insures classic vehicles including Cobras; www.sginsuregroup.com or you can call her at 713.574.1103, her name is Cheryl.
I am not aware of any insurance that will include any form of a track event under the standard coverage. However, as previously mentioned you can get track-day insurance for going to a performance driving event.

Justin

[digginfool]

After all of that, I just found out I have to have dual roll hoops to run any HPDE programs. I'm not sure I like the look.

[EscondidoZ28]

I would go with Hagerty, they have been great to us.

The other collector car insurance companies were not even close in price and covering the upgrades, as well as the appraised value.

We paid around $100 to have the Z appraised and Hagerty honored that price. Hagerty understands how real car owners treat their cars (like their children).

FYI, I have no connection to Hagerty whatsoever, I jsut don't like to see my fellow car enthusiast waste time with standard car insurance when none of us are discussing standard cars.

Source: Classic Car Insurance Companies

[YerDugliness]

Originally Posted by digginfool

IAs far as the comment regarding an old Comet or Fairlane, no need to be a smarta$$

I don't think he was trying to be a smarta$$....Holman Moody recently had a 1964 Fairlane in which they had shoehorned an FE sideoiler, it is one hell of a track car (there is even some YouTube footage online).

[edit--I found them, here:

http://www.youtube.com/watch?v=9WRgybAyc6Y

http://www.youtube.com/watch?v=UD48OX1wu14

http://www.youtube.com/watch?v=sqpZ8-9oml0

http://www.youtube.com/watch?v=rqWF6miMBtQ

Looks pretty capable to me!]

Cheers from Dugly

[dougkatz]

The Insurance Company that many of buddies use for HPDE Insurance is www.ontrackinsurance.com. The site was easy and they offer agreed value on the vehicle.