Track Day Insurance
 

Here is a good story about track day insurance and a good source reference. There are others on the web.

Of course, Step 1 is to read your own policy to see what it actually covers.

Step 2 is to actually do Step 1. Don't just ignore it. :)

A driver should also consider whether you can afford to write off your car completely in the case of an accident where you're not covered - this is best done BEFORE you go to the track!

This type of insurance only applies to high performance driver's ed events (HPDE); typically a time trial or a wheel to wheel race is considered a "competition" and isn't covered - but this can vary. Again, read the fine print to find out what is defined as a "competition".

In wheel to wheel racing, the gentlemen's agreement is that everyone is responsible for their own car and has no liability to another driver. This means that if Driver 1 does something stupid, hits Driver 2, and Driver 2's car is totaled; Driver 1 has no financial responsibility. In reality, many drivers will take responsibility and help pay for damages that they caused but it is not required.

Odds are your insurance policy doesn't apply at the track. Here's what to do about it.

#1. You can count on your standard policy NOT to cover you, and if by some miracle driving on a track isn't strictly prohibited and you get them to pay, they will drop you and/or raise your rates to the moon. Go ahead and have it confirmed in writing, then they will raise your rate, exclude track driving if it isn't, and let your life insurance provider know.. I would not ever mention the word "Race Track" to my auto policy writers.

#2. Call Steve at ontrackinsurance.com and get agreed value coverage. It's much better if you do two-three day events and share a car as the cost is "per event", not per day..

Depends on the events too - timed events - you have no chance. HPDE's billed as driver safety and training you do have a chance - although much less these days. I've run numerous events for the Audi Club when I was on the BOD and I've known of at least 3 people who have had their insurance cover their cars. Nothing illegal was done - like saying it happened off track etc. Of course I don't know if their insurance went up anymore than it would for any other at-fault accident.

That being said - if you can't afford to write it off - you should probably get track day insurance.

Lockton writes Multi weekend policy's for the track addict. Agreed value can include all your track mods. In my case about $12,000 in motor and suspension work. So my track day coverage is usually twice the value of the cars on the street insured value. The down side is the 10% deductible.

A friend recently had his R8 totaled at one of the Audi Club events. His insurance was Liberty Mutual. They covered the car completely. One of the main reasons was that the event was advertised at a Drivers school and safety seminar. It was an event I ran for the club (was a Board member for six years) and we always made a point of referring to our events that way. Turns out it worked in his favor.