Tracking your DD (Insurance)

[ChosenGSR]

Edit

[1996 328ti]

There is a company called America Collectors which offer DE insurance in MD.
http://www.americancollectorsins.com/index.php
Look under programs.

[ChosenGSR]

Steve, I saw that when I was doing research on bimmerforums. Big problem is that I don't meet 2 of the 4 requirements.

Stored in a locked garage or trailer when not in use (this is unclear)

Not driven by anyone with less than 10 years driving experience during a Driver’s Ed event (I am 24, so I guess I only have 8 years behind my belt)

[1996 328ti]

Sorry then. I know of no one else.
I have not heard of anyone denying a claim for at least the first time putting in a claim. Not in Maryland anyway.

[bren]

IMO, if you can't afford to write it off then you shouldn't be tracking it. I wouldn't trust any Ins. company to cover it.

[mpassioned]

I have an '02 M3, and accept the consequences of doing something bad to the car. This all falls under the managed risk category IMO, same as when I raced M/C's. I personally would not make a claim, as I don't think they'd cover it anyway. I'd expect to pay for it out of pocket, should it come to that.
As was mentioned earlier, there are companies that write policies for track events, and I believe you can buy by the day. Go over to the M3 forum on Roadfly, and do a search, I believe I saw something there last year about this.

[ChosenGSR]

I have an '02 M3, and accept the consequences of doing something bad to the car. This all falls under the managed risk category IMO, same as when I raced M/C's. I personally would not make a claim, as I don't think they'd cover it anyway. I'd expect to pay for it out of pocket, should it come to that.
As was mentioned earlier, there are companies that write policies for track events, and I believe you can buy by the day. Go over to the M3 forum on Roadfly, and do a search, I believe I saw something there last year about this.

This is what most people do from what I understand, they just call it managed risk My car is pretty new (2004) and god forbid totaling it is definitely more than I can afford. I don't know whether I should just downgrade vehicles to something that's a little cheaper and less worrisome or really think about adding a track car to the fleet. The problem is I have a hard time justifying another vehicle/insurance to be used 4 days out of the year. I'll definitely take a look at roadfly and see what I can find there.

[AlfaEric]

This is what most people do from what I understand, they just call it managed risk My car is pretty new (2004) and god forbid totaling it is definitely more than I can afford. I don't know whether I should just downgrade vehicles to something that's a little cheaper and less worrisome or really think about adding a track car to the fleet. The problem is I have a hard time justifying another vehicle/insurance to be used 4 days out of the year. I'll definitely take a look at roadfly and see what I can find there.

Remember that you can probably register it as a weekend vehicle (they just limit the miles). It can help a bit with the insurance costs.

---Eric

[ChosenGSR]

Remember that you can probably register it as a weekend vehicle (they just limit the miles). It can help a bit with the insurance costs.

---Eric

Good point as well Eric.

[AlfaEric]

Good point as well Eric.

...and if you buy a bunch of them you might qualify for a fleet discount.

---Eric

[OwnedbyDuncan]

At some DE after an incident on the track they have been known to haul the car off track and dump it in a field off the road leading to the track.

Now I have never seen this personally happen.

Have you read your policy from State Farm? Often times it depends on how you define a DE.

Begs the question as to why auto insurance is required at a DE if the insurer isn't going to pay a claim?

I know back a few years ago State Farm was covering DE's

Dave Apker

[ChosenGSR]

Dave, I was clear in explaining the definition of a DE to my agent, the answer was still no. I have read the policy, and it's extremely gray, which is why I went ahead and contacted the agent.

I really love tracking my car, but as they say we're trying to drive at the limit, and it's only a matter of time until... Never mind somebody spilling oil in front of you.

[1996 328ti]

I really love tracking my car, but as they say we're trying to drive at the limit, and it's only a matter of time until... Never mind somebody spilling oil in front of you.

That is my only fear, debris on the track.

I have found insurance policies are written in plain English.
If it doesn't specifically have an exclusion, then you are covered.
I understand your situation. Read through your policy again.

[Biggins]

Do you have to own a BMW as your track car?

I've been toying with ideas of getting something cheap for track use until I can afford tracking a BMW or other sports car... 90s Mazda Protege, Honda Civic/Accord/Prelude, Toyota Celica, etc. Wheels, brakes, shocks/springs, etc. would all be cheaper.

[white_2kgt]

Have you read your policy from State Farm? Often times it depends on how you define a DE.

Begs the question as to why auto insurance is required at a DE if the insurer isn't going to pay a claim?

I know back a few years ago State Farm was covering DE's

Exactly, read the policy. If you have an 'old' SF policy then you are covered. The newer ones specifically say if you are at a 'facility used for racing' then you are not covered, even if it is a DE. The old policy only said if you were in a 'competition/timed' style event then you were not covered. That was the change SF made. I still have the 'old' policy (confired by my agent). Also, your claim getting processed will depend on the agent and how they write it up. In other words, become friends with your agent .

Now, it has been my experience that MOST DE incidents are minor, you loose the rear and slide off the track into the guard rail, resulting in a few 1,000's in damage (yes, even to fix a BMW), one would hope that if you have a newish BMW and are tracking it then you could afford to absorb the cost, if not, get something else to track. I have also see 3 'MAJOR' incidents where the cars were probably total write-off's, this is over a 4 year span.