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Hey Art: Track Day insurance?
Hey Art, what's the deal with insurance coverage for track days? There's a rumor floating about that as long as the event is a "driving school" and not a "competition" that some ins. companies will cover an on track incident?
Any truth to this? And regardless, we're covered for liability on track, right? |
just get off the track before you place your claim and say it happened in the parking lot :lol: :lol:
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There is some truth to that. As long as you are not participating in a designated 'race event' then the insurance company will cover you.
I'll go fetch the exact wording for this exception. |
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It could happen.... if you were a chick on her cell phone.
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no no... not Durango dammit... H2!!! Soccer mom of the future... one of these days she is probably going to try and jump a statue!
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Unless there's insurance coverage the only way I could get paid for the damage would be to take it out of his hide in the parking lot. |
I am having our claims department fax me over the exact wording concerning this issue. So that may be a few hours :lol:
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NIce I am going to want this if we can get it.
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Well, so far I got this from one of our claims offices -
Per Anthony @ 2:15 PM on 2/2/2004 from Las Vegas Claims Department: He said that it states nowhere in the policy that you cannot participate in a racing event. Per page 2 in the policy titled 'When and Where The Policy Applies', we are covered even if a sanctioned racing event or even a 'pratice' event. As stated - "Your policy applies only during the policy period. During this time, it applies to losses to the auto, accidents and occurrences within the United States of America, its territories or possessions or Canada, or between their ports. This policy period is shown on the Policy Declarations" He said because of this clause and the fact that racing is not mentioned anywhere else in the policy, your car would be covered on the track for all occurences because it is located in the United States as stated above. I am double checking everything because I would hate to go on one persons thoughts. I have a call into our southwest division claims office manager to give me the final word. |
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Sounds too good to be true! |
That's interesting. So in 5 years when my car is gutted, has a rollcage, slicks & a race motor in it the insurance will cover my loss when a bonehead punts me into the wall in T-6 at Seca? :lol:
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Well, first your car has to be street-legal. I don't know if what you are planning on doing to the 'Stang will still allow it to be street-legal. your insurance company will sure as heck not insure a non-street legal vehicle.
Scott, it does seem to good to be true. That why I am getting the final word from the Manager at the Southwest claims office. I am quoting that claims rep (Anthony), but not going to live by it yet. I will double check for sure. But so far, as long as something is not excluded, then it is included. and I cannot find a single thing about racing in the policy. |
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I think i understand what you're saying, but with that said, neither are parking lots and private roads, and they're covered, |
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And I know for sure you are covered on any private road. So, if you get slamed into in a Wal-Mart parking lot, you aren't insured? Yes you are. Thankfully. |
and if your sue happy you could go after Wal-Mart for not having a trafic addtendant to make sure everyone was safe in there parking lot sence it would be there liability right?
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You can sue for anything nowadays. But I don't think its Wal-Marts Liabilty to make sure people drive safe as long as they have there stop signs in the right spots and stuff. But who knows?!?
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I'm guessing Wal-Mart has mean ass lawyers. Plus they have more money than god and could keep you in courts forever as the old saying goes...
You better hope your case is cut and dry, if you were to sue WALLSMART. |
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There is also insurance that is strictly for racing events. I believe SCCA offers some type of coverage. Basically the difference is the liabilty limits. You can get a racing policy that has over 1 mil for liabilty for pretty cheap. Your typical auto policy has 100,000 per person/300,000 per accident. That may not be enough during a race event when your car rolls into the crowd and hurts 7 people. So some people go that route when racing or go the route of getting a umbrella policy which also puts a million over your head (but again we don't know for sure if racing is aloud under a umbrella policy). The head manager is giving me the exact definitions and wording tomorrow. Ill know for sure by then. |
Just remember, when asking about it, don't use the old "My friends are wondering if they can race under their insurance coverage" line, or we might get black listed or something :lol:
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Sweet
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any updates? I'd be really surprised :shock: with the bigger insurance companies, if there isn't an exclusion related to high-speed auto events, such as a track day. One loophole may be for events that are labeled as 'driver education'.
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Also waiting for the manager to call me back. I placed another call in today. Hopefully by this afternoon.
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UPDATE
So I have found out this morning that the news was to good to be true. I have gotten written word from a manager from the SW division of insurance. He had mentioned that this is the exception for Allstate and should be the same for almost every other insurance company. They changed the rules last year and have since placed a endorsment onto the automobile policy. I will listed exactly how it reads in the new reply.
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Allstate Automobile Policy Exclusions in relation to racing. This was a Nevada Amendatory Endorsement (meaning most companies followed with the same endorsement to their own automobile policies).
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Basically, you are not covered for a damn thing if you are doing any of the things mentioned above. speed contest, racing contest, or anything that is done on a track. So driving schools, driver training (unless done by the DMV), or practice events are not covered.
This means no Liabilty, Medical, Uninsured motorist, Death Indemnity, Disabilty Income, or Comprehensive or Collision losses will be covered. And when it comes to the street-racing thread thats going on, if you read the line that says "....arising out of participation in any prearranged, organized, or SPONTANEOUS:" This meaning that if the insurance company finds out you are filing a claim that was related to speed-contest or street racing, they DO NOT have to pay out on the claim. Even if it is a Bodily Injury claim. |
Well that sucks. My rates go up and my coverage goes down. :x
What kind of options do we have then for track insurance? |
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As for Bodily Injury and Property damage, SCCA offers coverage when becoming a member. As for your vehicle, I have no idea as of right now. I will look into it more today to see if a brokerage company has anything to offer. As for the rates going up. As of December 4th, 2003, WRX rates went up slightly amoung many other vehicles. Mine went up 15.00$ per month. Causes: Age of new drivers driving WRX's, collison claims associated with WRX's, amount of tickets of drivers with WRX's, liabilty losses associated with WRX's. Since they have been out for a few years now, insurance companies have gathered all te data they need to raise the rate. :x |
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My exclusions did not read quite as striclty, but I need to see if there have been any updates recently. Do you know when this exclusion was put in place?
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This info guys might also get you thinking about all those ride-a-longs.....if somthing happens and you have a passenger bad things could happen :shock:
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Thats it time to print and noterize sig's from anyone who wishes to ride in my car thats it is at there own risk :twisted:
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Hmm. I didn't say it. |
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You can get liabilty insurance for your track prepared car for the padock, and entering/leaving the track if you are so inclined and since you likely don't have it ensured otherwise. |
Racing our cars around a track seems to be pretty expensive and risky.
spendin' all da green, livin' on da edge |
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