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.

[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.

[1996 328ti]

Nationwide regularly sends me addendums to my policy.
Usually it is involved in reduced coverage for the same price.
Last time I read it it actually said nothing about race tracks or competitive events.

But better to research this now than before it's too late.

[Rafgar]

This is a very tricky (and touchy) subject.

Yes, whether or not you're covered will be controlled by the language of the policy. It's a contract and will be strictly contrued. Asking the agent (and the underwriter) is only worth something if the question and the answer are in writing. If you only got a verbal response then it's only worth the same weight as the advise you're getting here - read that as worthless.

OK, now that I've said that everything you read here is worthless time for my 2 cents.

Remember that I am not your lawyer and that you should seek the advise of a lawyer in your particular jurisdiction.

Over the years, we've seen that most insurance companies will pay for one track mishap. However, most insurance companies are changing their policies to limit their exposure for "track events". Also, many times the insured's claim is denied initially and it requires the intervention of a lawyer to get the insurance company to actually pay. One of the primary factors in ultimately getting coverage is tell the truth about what happened. Don't even consider the "I hit a deer in rural West VA" line (unless the deer crossed the track in front of you - has happened several times at Summit Point).

The best advise I can give you is to remember that you drove the car to the track and that you need to drive it home when you're done. This has the tendency to slow you down a bit, but you remain careful and alert. Basically, don't drive at 10/10th or even at 9/10th. Leave yourself some room to recover from something that happens while you're driving.

You're at a stage where you want to go faster. Please resist the temptation to switch to "R" compound tires. Stay on the street tires for a little longer. This has a benefit of keeping the speeds a bit lower and giving you more time to react to situations on the track. If you want to upgrade, work on the driver first then the brakes.

Most people who have been doing these events for any period of time will tell you that it's not a matter of "if" something will happen, but "when" something will happen. Again, simply leaving yourself some recovery room and remembering that you need to drive home helps a lot.

I have found that most "incidents" occur due to driver error which is compounded by additional driver error. The first error is losing control - the second error is thinking that you can recover. Chances are, that once you've lost control of the car, you should simply drive the car off the track. Don't make the mistake of trying to stay on the track. If you drive the car off, you have some control over your destiny. If you *try* to recover, you will likely lose what little control you had and simply become a passenger. Most instructors will guide you through the "recovery" process (the old saying of "in a spin, both feet in" or "drive off straight"). Listen to the instructor and look where you want to go. If you look at the armco, car, tree, etc. - then that's what you'll hit. If you look at the opening between the trees, cars, etc. then you simply need to clean your shorts when you drive back into the pits.

[steve b]

This is why my track car is a 13 year old mr2. It's a pretty good feeling knowing that worst case, I'm out 5 grand.

I've always wondered about people who could take a new M3 out on the track. I figured they were either a lot better driver than me or made a WHOLE lot more money than me. Being able to afford it is one thing, being able to pay for it and not feel any regret is another.