Track Day Insurance - claims and payout experiences?

[Egparson202]

If you have first hand experience or credible knowledge of Track Day insurance claims and payouts, please share. Please resist the urge to debate the merits or offer opinions UNLESS you do in fact have experience. What I hope to learn is whether you were treated fairly, which companies are the best and why.

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[TrackMeisterWannabe]

 

[Egparson202]

I think @1 old racer , @Flyhalf & @Bridgie have made claims. If you guys would be willing to share your experience it would help others make informed decisions. I’m sure there are others.

 

[Flyhalf]

I alternate lockton and RLI because they cover time trials.
I dont do Opentrack as it is usually more expensive. And doesnt cover time trials.
I hit a wall at sonoma on 10-10-20
I was insured with lockton.

An estimate was sent to them end of october.
Their insurance guy came and give a very similar estimate. I got the money 20 days after.

It is a necessary evil the insurance. Is a waste money.. until it isn't .

 

[Egparson202]

I alternate lockton and RLI because they cover time trials.
I dont do Opentrack as it is usually more expensive. And doesnt cover time trials.
I hit a wall at sonoma on 10-10-20
I was insured with lockton.

An estimate was sent to them end of october.
Their insurance guy came and give a very similar estimate. I got the money 20 days after.

It is a necessary evil the insurance. Is a waste money.. until it isn't .

Thank you, sir! This is definitely helpful. I have not used Locton so I’m not familiar with their policies. Was it a declared value policy? Did the claim cause your subsequent premiums to increase?

 

[Flyhalf]

Thank you, sir! This is definitely helpful. I have not used Locton so I’m not familiar with their policies. Was it a declared value policy? Did the claim cause your subsequent premiums to increase?

I declared 35k. I found a great compromise between the cost of the policy and the value.
Keep in mind there is a 10% deductible so plan accordingly.
Mine was a cost of 16k.
My premium did not increase.

 

[1 old racer]

Responded in private. Bottom line it's a waste of money til you need it then it's really worth it. Remember it doesn't have to be your mistake. So, how lucky do you feel.

 

[Egparson202]

Responded in private. Bottom line it's a waste of money til you need it then it's really worth it. Remember it doesn't have to be your mistake. So, how lucky do you feel.

Thanks, man. I really value your input. And I hope to see you out there some time. Join me at VIR Feb 18-19?

 

[Egparson202]

Does anyone have any experience with Open Track?

 

[Egparson202]

Through a friend who’s a member of a Facebook HPDE instructor group and a lot of posts on Rennlist I decided to pull the trigger on OpenTrack insurance. Their reputation for handling claims fairly and quickly was persuasive. As was the availability of liability insurance, something no one else offers.

 

[BlackandBlue]

Is liability something that is a concern at the track?

 

[javierhe]

I always got insurance, it felt like a waste until I just crashed my car at Sonoma on Thursday.
I have Lockton for that event, so hopefully I'd have a decent experience like @Flyhalf mentioned.

 

[Flyhalf]

Sorry mate. What turn?

 

[javierhe]

Sorry mate. What turn?

Thank you.

Turn 8, it was raining a bit. Started spinning, I lost it and ended up in the tire barrier on the left side. I did exactly the opposite of what you're supposed to do, I'm ashamed... Not high speed crash, but lots of body damage in 3 sides.

 

[Flyhalf]

Sorry man. I know the feeling.

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