Racing Insurance

[MarcSpaz]

Has anyone purchased insurance for their GT350 to run road course events?

I want to go to the track 5 or 6 times, starting in the Spring. I plan on going to Summit Point for some open track days. I was going to get a quote, but the insurance company that the track recommends wants a lot of PII before they give me a quote.

I have never purchased race insurance. I'm hoping someone here has purchased it before so I can get a loose idea per event... $1,000, $5,000, $10,000, etc., for planning purposes.

Thanks in advance.
Spaz

 

[oldbmwfan]

No personal experience so can't share pricing insights, but Lockton is well regarded generally: https://locktonmotorsports.com/product/hpde-insurance

 

[MarcSpaz]

That's good to hear. Those are the guys Summit recommended too.

 

[s.hammer]

Lockton as mentioned above is good, I have also found ontrackinsurance.com to be very good, the rate is based on agreed value and at 50,000 coverage with a 10% deductible I think it is around 275-300 per event. There are usually discounts if you buy 3 to 6 events worth of coverage.

Have fun on the track, be prepared to become addicted...

 

[MarcSpaz]

I appreciate the info. Lots of people seem happy with Lockton. I'll likely use them. A few hundred per event isn't bad either. I figure $500-$600 per track day for admission and insurance is more than reasonable. We're about 2 or 3 weeks away from the local tracks 2017 calendar's being published. I'm very excited!

 

[Sonic 03 Cobra]

Figure 0.5% of whatever your agreed value is, with usually a $10k deductible I think it was. Between insurance, the event itself and consumables, I figure around $1k per event.

 

[MarcSpaz]

That sounds really high to me. The events I went to last year were $70 plus $20 per session and the other was $250 for the whole day with no time limit (observing operating hours, of course). Also, there is no way I am buying insurance with a $10,000 deductible. If I had the $10k in expendable income, I wouldn't need the insurance. LOL

 

[blownstang01]

I have also used ontrackinsurance.com ,easy to work with. $60,000 coverage for $350 10% deductable.

 

[Sonic 03 Cobra]

That sounds really high to me. The events I went to last year were $70 plus $20 per session and the other was $250 for the whole day with no time limit (observing operating hours, of course). Also, there is no way I am buying insurance with a $10,000 deductible. If I had the $10k in expendable income, I wouldn't need the insurance. LOL

I figure the average day at NJMP for me is $360 insurance, $300 for the track day with an HPDE group, 50% of tires, 50% of brake pads.

 

[jtfx6552]

My "6 -pack" from Lockton, 70,000 agreed value, 5K deductible for my GT500 was $2702.39.

This was from 7/14 to 7/15,

 

[Sonic605hp]

^That seems pretty reasonable considering they know you're going to be driving your car at it's limits.

 

[MarcSpaz]

I just can't get behind a 5k deductible. I'm going to go on May 5, so I have to call and find out what the deal on that is. I would want as low a deductible as possible. I just need a few weeks before I'm ready to buy.

 

[AustinSN]

I just can't get behind a 5k deductible. I'm going to go on May 5, so I have to call and find out what the deal on that is. I would want as low a deductible as possible. I just need a few weeks before I'm ready to buy.

It's better than writing off a $60k car.

 

[Sonic 03 Cobra]

I just can't get behind a 5k deductible. I'm going to go on May 5, so I have to call and find out what the deal on that is. I would want as low a deductible as possible. I just need a few weeks before I'm ready to buy.

Raise the insured value by $5k.


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