Insurance cos. close track day loopholes
10-20-2008, 10:58 PM
#1
Le Mans Master
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Insurance cos. close track day loopholes
Saw this on Autoblog just now, it may be old news to regulars here, but I thought I would post it anyway.
http://www.autoblog.com/2008/10/20/i...aining-loopho/
If you've taken your car to the track for either an open lapping session or an advanced driver education course, you're undoubtedly aware of the potential risks. While most insurance policies say that the car isn't covered if it's participating in a "timed event," that's all changing now that track time is becoming more common.
A report by The New York Times goes into detail about the loophole and how the big insurers are taking measures to include high-performance driving schools and track days. One interviewee has decided to stop his weekend excursions altogether after learning about the policy changes, and more disturbingly, when another player in the piece asked his insurance company if his Subaru WRX STI was covered during a track event, his policy was dropped six months later.
While the well-to-do are largely immune from the new terms, purchasing dedicated track-day toys or additional insurance, those of us with shallow pockets might have to think twice before we ring our rides out as God intended.
The New York Times article:
http://www.nytimes.com/2008/10/19/au...in&oref=slogin
http://www.autoblog.com/2008/10/20/i...aining-loopho/
If you've taken your car to the track for either an open lapping session or an advanced driver education course, you're undoubtedly aware of the potential risks. While most insurance policies say that the car isn't covered if it's participating in a "timed event," that's all changing now that track time is becoming more common.
A report by The New York Times goes into detail about the loophole and how the big insurers are taking measures to include high-performance driving schools and track days. One interviewee has decided to stop his weekend excursions altogether after learning about the policy changes, and more disturbingly, when another player in the piece asked his insurance company if his Subaru WRX STI was covered during a track event, his policy was dropped six months later.
While the well-to-do are largely immune from the new terms, purchasing dedicated track-day toys or additional insurance, those of us with shallow pockets might have to think twice before we ring our rides out as God intended.
The New York Times article:
http://www.nytimes.com/2008/10/19/au...in&oref=slogin
Last edited by Arnie; 10-20-2008 at 11:01 PM.
10-20-2008, 11:01 PM
#2
Melting Slicks
I'm a firm believer in the philosophy of "don't run it if you can't afford to ball it up." I'm perfectly fine with insurance picking up the bill for a first time HPDEr, or someone just testing the waters. HOWEVER, if you've been doing this a while, and have moved up in the ranks, you should be accepting the risks on your own dollar. There is no free ride, you have to make due with what you can afford.
