Track Insurance

[theox05]

So I'm looking into tracking my M4 for our local BMW track day/driving school and they make mention of getting additional track insurance for my car. Ok, np, I say, but then I look at the quote...$450.

Is this what you guys are paying when you go to the track?

[ATX_M3]

That's a little high but not totally out of the ballpark depending on the track and the value of the policy. I've had better rates from RLI than others - worth checking them out if you are looking at other providers.

One oddity that I've seen is the policy costing the same for 1 day vs 2 day events. Might as well make it worth it by doing multi-day events!

[IND-Distribution]

Are you going through your current insurance company or is that from an independent track insurance quote? I've had a handful of friends use Lockton for DEs, etc. if that helps.

[m4likf82]

There's also a company called theopentrack that offers track insurance for the whole year with unlimited events, I'm debating using that since I plan to go to like 6-10 events this season

[jpdchicago]

Originally Posted by m4likf82

There's also a company called theopentrack that offers track insurance for the whole year with unlimited events, I'm debating using that since I plan to go to like 6-10 events this season

Theopentrack sounds good to me also as I am planning a few events. Looks like for specific tracks around the country but good selection of tracks.
Will look into it.
Nothing is cheap for sure and I do not think any insurance covers liability to others or damage to the track.
Just damage to your own car...

[MaynardZed]

Probably a Lockton quote. I pay $360 for a stated value of $60K on my 2015 M4.

[M-Pilot]

I use RLI as well. They have always offered the most competitive prices so far. For example, $330 for an estimated value of $60K with 10% deductible.

[trey100]

Are you guys all getting insurance even for HPDEs?

[theox05]

Originally Posted by trey100

Are you guys all getting insurance even for HPDEs?

Thats what my quote was for, yes.

[JMon]

I've used Locton for years. I used to buy their 12 event pack that basically gave 24 track days. Sometimes it would cover 3 day events. Multi pack really cuts down the insurance costs
Always do multiple day track events to minimize the cost impact of insurance.

Insurance is the least of your cost concerns once you get going in this hobby.

[GregSM3]

Question re deductible. Is the 10% deductible on the cost of the repair, or is the insured responsible for the first 10%, i.e. on a $60k car, driver is responsible for first $6k of any incident.

[JMon]

First 6k out of your pocket.

Also about Locton, The support team is very responsive and will add your event if it isn't listed on their site.

[nicknaz]

Originally Posted by trey100

Are you guys all getting insurance even for HPDEs?

Lockton I'm pretty sure doesn't do W2W insurance.

I did the VARA school a few weeks ago and the sense I got was that folks were self insuring those $$$$ vintage racers

[MaX PL]

I think RLI is the underwriter for some of the others.

I used to use ontrackinsurance but switched to RLI last year as they were slightly cheaper.

[trey100]

Originally Posted by nicknaz

Lockton I'm pretty sure doesn't do W2W insurance.

I did the VARA school a few weeks ago and the sense I got was that folks were self insuring those $$$$ vintage racers

So would you say in general when folks on here do a track day they also pay the $350-$400 for insurance for the day?

[M-Pilot]

Originally Posted by trey100

So would you say in general when folks on here do a track day they also pay the $350-$400 for insurance for the day?

Yes, exactly! Or they just risk it and not get any insurance. This is why many people (at least here in NorCal) run much cheaper cars (E36 or E46, and not necessarily the M versions) as their dedicated track cars.

[theox05]

Originally Posted by trey100

So would you say in general when folks on here do a track day they also pay the $350-$400 for insurance for the day?

I don't know about everyone, but if I wrecked my '18 M4 CP with no insurance I'd probably find myself not only ashamed but divorced as well

[nicknaz]

Originally Posted by trey100

So would you say in general when folks on here do a track day they also pay the $350-$400 for insurance for the day?

Probably matters less what others are doing than how YOU would do if you had an off in your f8x.

It seems like only a few on here have cost figures so those are likely the ones getting the insurance.

My didn't feel comfortable totaling my f80 and found that I was driving under my limit due to a "wallet preservation instinct" and got a cheapo track car as my "insurance"

[NOLATom]

Originally Posted by jpdchicago

Theopentrack sounds good to me also as I am planning a few events. Looks like for specific tracks around the country but good selection of tracks.
Will look into it.
Nothing is cheap for sure and I do not think any insurance covers liability to others or damage to the track.
Just damage to your own car...

That’s what I used too. Many of the events wanted $500 or so for one day, so I bought the open track policy for the year. I think I paid around $4200 for the year. Unlimited runs at 70+ tracks. Haven’t wrecked yet, so can’t tell you if they’ll pay out.

[BitchinManWheels]

Originally Posted by trey100

Are you guys all getting insurance even for HPDEs?

Depends. When I was doing HPDE with NASA and ProAutoSports I got track insurance. After seeing MANY cars go off track and wreck (especially HPDE 2 & 3) I decided track day insurance is a must! Guys getting a little confidence then driving outside their limits in a POS Miata. They don't care if they wreck, in my $80k M4 I do!
When I joined INDE Motorsport Ranch (private club) I was going very frequently and usually had the track to myself so I didn't carry insurance and drove well within my limits.
It boils down to if you are comfortable with the risk. Risk of your regular insurance not covering the accident (most insurance is voided the second your car goes on the attack, no matter the reason you are there). Risk of a major accident and having to continue making payments on a totaled car. Risk of injuring yourself or someone else (got an umbrella policy?).
Now that I have moved and no longer a member of INDE, I will be getting track day insurance again!

[MRV99]

Originally Posted by nicknaz

Lockton I'm pretty sure doesn't do W2W insurance.

I did the VARA school a few weeks ago and the sense I got was that folks were self insuring those $$$$ vintage racers

Yes because you do not do those events unless you can afford to lose 100% of your investment. Racing vintage is not for the budget conscious racer. It's a wealthy persons race