Insurance?

[ChrisMiami]

What do you guys do for insurance? Or more to the point, how does one insure a car that’ll be on the track for at least 1/3 of its mileage? I’m thinking Geico and Progresive will be expensive so maybe Hagerty “stated value”?

[Jeff Kleiner]

Unless you buy specific track insurance you won’t be covered while participating in any sort of track, timed or high performance driving event. For your street insurance be sure to educate yourself about the difference between “agreed value” and “stated value” which has been discussed here many times. They are NOT the same. In a nutshell, most times in the event of a total loss you’d be happier with agreed value rather than stated. I've had mine with State Farm since day 1 in 2008 with the same full coverage as the daily drivers plus a $40K agreed value. It runs less than $200 annually.

Jeff

[egchewy79]

I'm not tracking my MK4, but have state farm for insurance. they will allow me to turn off everything but the comprehensive insurance during the winter months for something like $60/6mo.

[ChrisMiami]

Wow! That’s an awesome price! But that means no injury, medical, uninsured, etc., right?

[Jeff Kleiner]

Wow! That’s an awesome price! But that means no injury, medical, uninsured, etc., right?

No, as I said it’s the same medical, injury, uninsured, comprehensive, collision ($500 deductible) as we carry on the daily drivers. Only difference is that there is an agreed value in the event of a total loss. No annual mileage limit and no usage restrictions…I can (and do) drive it anywhere, any time. However, I do understand that if I stack it up autocrossing or doing track days it’s on me. You can buy HPDE and track day insurance from a number of specialty insurers, including Hagarty. 60,000 worth of coverage runs around $400-500 per day.

Jeff

[egchewy79]

Wow! That’s an awesome price! But that means no injury, medical, uninsured, etc., right?

That’s the price when I’m not driving it in the winter months. Don’t need to worry about liability or collision. My agent will allow me to turn it on and off just through a text or email (within reason of course) but if we get a string of nice days in a row, say in December, after I’ve “ turned off” my policy, I can just email him to turn it back on for several days so I can drive it.

[Dave 53]

I regularly track my 818 without track insurance. I looked into it and it's VERY expensive. To me, not worth it for a $20,000 to $25,000 car. Like home earthquake insurance in California, which very few people buy. I hope I never get hurt, but if I slam it into a wall, "well... that was fun while I had it." I know the risk.

I had a Porsche GT4 run into me on track. Minor damage to my car that he paid for. The GT4 didn't fare so well. I asked if he had insurance and he said it was the first track day he did without it. I can't imagine taking a $100,000+ car on track without insurance which greatly drives up the cost of a track day. That and having to buy a $100,000+ car.

Tracking a car is expensive! My budget is for a car I built in my garage that I'm comfortable tracking without insurance. The cost to take an insured car like a GT3, McLaren or even a "plain" 911, C8, Mustang or Camero, etc. out for the day blows my mind. I can't imagine / afford having a track car that I would only feel comfortable driving on track if insured. And I don't imagine it would be any more fun anyway. The smile the 818 gives me can't get any bigger!

If you just want to take your car out on track one time just to check it out, I imagine the drive to the track is more risky than doing some laps in a point by passing novice group with instructors.

[Jeff Kleiner]

I regularly track my 818 without track insurance. I looked into it and it's VERY expensive. To me, not worth it for a $20,000 to $25,000 car. Like home earthquake insurance in California, which very few people buy. I hope I never get hurt, but if I slam it into a wall, "well... that was fun while I had it." I know the risk.

I had a Porsche GT4 run into me on track. Minor damage to my car that he paid for. The GT4 didn't fare so well. I asked if he had insurance and he said it was the first track day he did without it. I can't imagine taking a $100,000+ car on track without insurance which greatly drives up the cost of a track day. That and having to buy a $100,000+ car.

Tracking a car is expensive! My budget is for a car I built in my garage that I'm comfortable tracking without insurance. The cost to take an insured car like a GT3, McLaren or even a "plain" 911, C8, Mustang or Camero, etc. out for the day blows my mind. I can't imagine / afford having a track car that I would only feel comfortable driving on track if insured. And I don't imagine it would be any more fun anyway. The smile the 818 gives me can't get any bigger!

If you just want to take your car out on track one time just to check it out, I imagine the drive to the track is more risky than doing some laps in a point by passing novice group with instructors.

ChrisMiami, 1/3 track use is awesome! Have you had a track car before? Insurance (if you get it) is just one of the many expenses.

I believe it was when I was competing at RunN'Gun at Gateway International shortly after building my car when Richard Oben said something to the effect of: "Once you get comfortable lighting hundred dollar bills on fire and then flushing them down the toilet you'll be ready to track your Cobra."

:D :D :D

https://thefactoryfiveforum.com/attachment.php?attachmentid=191610&d=1698355912

Jeff

[dstelter]

Just got my Coupe Insured. Went with Robbin (Midwest Classic under American Modern). I wont be doing any track days only weekend and car shows. just under 42 bucks a month. Good thing about Central Texas is the ability to drive pretty much year round.