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Another vote for RLI here. $299 for $60k coverage with 15% deductible. Hate paying it every time. Happy I haven’t used it yet.

There are companies that will cover you for unlimited events for a year. I looked into it and it was about $4000, so break even was about 13 track weekends. I generally do 10-12, so opted to stick with the $299/event.
 

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A vote for Lockton. I pay $302 for $52k coverage with 10% deductible. I checked RLI and they were just about the same $306.

I did note some additional items in my policy from Lockton. There statement includes: Debris Removal Expenses (no amount listed), Towing & Storage ($1k cap), Rental car ($500 cap), Pollutant cleanup and removal ($10k cap), and premium attributed to acts of terrorism ($0 cap). I would guess that RLI has similar items. So I'm hoping this means, caps applying, that they would pay for everything but track damage.
 

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I have been doing De events for 18 years. i have averaged 6 events a year . That cost would have been $ 32,400. i self insure, since you will pick up the 10 % deductible anyway to me unless your car is worth over $ 60k and has a total loss what is the point ? How many cars really get totaled at the track ? Most have damage in the $ 2,000 to $ 20,000 range if at all. Your deductible will be a large part of that anyway. For me it has not made sense, in my events i have only had very minor damage one time hence i self insure
 

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I have been doing De events for 18 years. i have averaged 6 events a year . That cost would have been $ 32,400. i self insure, since you will pick up the 10 % deductible anyway to me unless your car is worth over $ 60k and has a total loss what is the point ? How many cars really get totaled at the track ? Most have damage in the $ 2,000 to $ 20,000 range if at all. Your deductible will be a large part of that anyway. For me it has not made sense, in my events i have only had very minor damage one time hence i self insure
Self insuring is always an option. I've done 7 yrs of 2-3 DEs per yr and have seen 2 cars written off. Obviously YMMV, but it happens. If you can afford to replace your $75K BGTS, good for you. But thinking / hoping it won't happen is not a good option so drivers better have some sort of a plan in place, whether it's totally self insuring or employing one of the multiple insurers. At least have a plan. Okindao has and is willing to shoulder the expense.

Keep in mind you (the general 'you', not okindao specifically) are responsible for the damage to your car caused by others. You may think you'll drive at 80% and keep yourself out of trouble. Fine, but the Hamilton-wannabes in your run group may not have gotten the memo. You are responsible for any damage they may have instigated. Or the car in front of you may drop some fluids in that corner following the long straight. Stuff happens that wasn't because of your actions.

And the early 2000's super cars that started the current HP wars are falling into price ranges that now makes them affordable to the general public. More of these 400HP cars are showing up in the hands of lesser experienced drivers. And not every driver who can afford the 500-700HP cars are good drivers, they're just able to afford cars that may be WAY more capable than they are. One of the reasons I do very few Fast Fridays is because I don't know who may show up and I trust no one I don't know.

The bottom line is there are a lot of variables that have to be considered - your financial situation, your car's value, who else is participating, how dangerous the track is, etc. Then you can decide how to address the risk.


Does anyone know if there is a "penalty" from underinsuring the car (apart from a limited payout). For example, if my car is worth 70K, could I insure for 60K to save some premium cost.

The car is not financed, so it wouldn't be a disaster if I receive less than market value in the event of a total loss.
There shouldn't be an issue with under-insuring. You've decided to cover the uninsured cost. They don't care. They're just on the hook for up to $54K in your example.
I want to add to my previous answer. Insurers may not care if you fudge a bit (insure at $60K instead of $70K) but they probably care if you take it too far (say $35K instead of $70K) since the 10% deductible would be smaller and their liability comes in faster (at $3501 vs $6K or $7K). In the example from Angelo, it would probably be fine to skrimp a bit. Just don't get ridiculous as you may end up entwined in a court battle and be judged to be on the hook for the first $7K. If you can't afford a $300 premium but can afford $200, why are you DEing? Something to consider...
 

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I've only started tracking last year - 7 days total. During the last event, a 3 day but I only attended the last 2, acar was totaled each day. A GT3 with an engine fire, pair of 987 CS on the same pit wall, and this was at one of the safest track in the area. In all 3 cases no other cars were damaged and nobody was hurt fortunately. If you can self insure, great. $300 just gives me piece of mind.
 

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I've only started tracking last year - 7 days total. During the last event, a 3 day but I only attended the last 2, acar was totaled each day. A GT3 with an engine fire, pair of 987 CS on the same pit wall, and this was at one of the safest track in the area. In all 3 cases no other cars were damaged and nobody was hurt fortunately. If you can self insure, great. $300 just gives me piece of mind.
Amen to that. It might be different if I had a dedicated, stripped down track car, but I have seen way too much seriously twisted metal at Road ATL to risk it uninsured with my GT4.


Sent from my iPad using Tapatalk
 

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I've only started tracking last year - 7 days total. During the last event, a 3 day but I only attended the last 2, acar was totaled each day. A GT3 with an engine fire, pair of 987 CS on the same pit wall, and this was at one of the safest track in the area. In all 3 cases no other cars were damaged and nobody was hurt fortunately. If you can self insure, great. $300 just gives me piece of mind.
Wow, that does seem quite high. I recently attended a meeting hosted by the local PCA (NNJR PCA), and I think they mentioned that there were only 7ish "incidents" in 2018 (I don't recall if they defined an incident). And most of those were in the higher groups like Black.
 

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And the early 2000's super cars that started the current HP wars are falling into price ranges that now makes them affordable to the general public. More of these 400HP cars are showing up in the hands of lesser experienced drivers. And not every driver who can afford the 500-700HP cars are good drivers, they're just able to afford cars that may be WAY more capable than they are.
I use to have a competition license and competed in SCCA events for many years. When I was racing, there were no driver's aids: no ABS, PDK, PSM, etc. There are so many driver aids today, that even the worse drivers believe they are nearly as talented as F1 drivers. Over the last five years I have seen more and more of these drivers at DE events. Hence, I always buy track insurance.
 

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HPDE insurance... it’s pretty expensive. Until it’s not. Last time I was at Barber some guy showed up in a brand new McClaren, straight off the lot. Had never been on track before but somehow finagled his way into the intermediate group. Stuffed it in the wall 7 turns later, never even made it a full lap. I’m pretty confident in my own skills, but I can’t do anything to prevent people like that.
 

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It also depends a lot on the track. Here in TX, most of the tracks have a lot of run-off area without walls to hit. I've done about 18 DEs and only seen 2 accidents. 1 light-contact accident at COTA, and 1 guy in a 66 Mustang that had a brake failure and hit a tire wall and went down a hill. There have been a lot more off-track excursions (including myself), but no damage due to the grassy run-off.
 

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^Indeed. Here in New England our tracks are pretty sketchy. Palmer and Club Motorsport are both lined with rock walls and cliffs (with guard rails of course) with very little run off. NHMS has cement walls. WGI is fast with very little run off. Thompson for whatever reason just eats cars. I just got the Cayman and will definitely use track insurance. Previously i tracked beater old BMWs.
 
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