Insurance for racetrack

[M4 Dream]

Are you guys using racetrack insurance and if yes which one ?

[jbraslins]

I use the place MotrosportsReg.com recommends.

http://locktonmotorsports.com/product/track-insurance

Never had to make a claim, so no idea how good they are. But from what I gather, they are legit.

[M3 Esq]

I use Lockton. They have been around for a while and I've heard nothing but good things. I have not had to make a claim with them yet (keeping my fingers crossed ) so I can't comment on that piece of it.

[mrkhanna16]

around how much would it be for 1 event?

[M3 Esq]

Originally Posted by mrkhanna16

around how much would it be for 1 event?

The premium is based on a stated value. Go to the lockton website pasted above and they have a quick quote calculator. That'll give you an idea.

[PrimeBMW]

I am sure the rates have changed. But a few years ago I looked into Lockton. 50K coverage was $380 per day with a 5K deductible. Now if you buy multiple day package the per day rate goes down. The largest package was 15 days at around $3,000. I bought one day as a beginner student (it was 37 degrees and raining) but never again. I would rather keep my money then give it to an Insurance company and just pay if and when something happens. They are there to make money so odds are you will save money by not paying for insurance.
Once again this was a few years ago.....

[stonecliff]

I've used both Lockton and OnTrackInsurance in the past. Their rates were always fairly close for my last car, but I was surprised to see a larger gap this time around. May want to shop both, as it can often differ by track too.

[evanescent03]

Originally Posted by PrimeBMW

...I would rather keep my money then give it to an Insurance company and just pay if and when something happens. They are there to make money so odds are you will save money by not paying for insurance….

i agree with you to a certain degree - i almost never buy insurances and have saved thousands because of it. however, i'll NEVER talk someone out of insurance for anything whether it's a cell phone or track day insurance on a ferrari because they could be the guy who was REALLY happy he was covered. i haven't used insurance before but before now i was using my 3rd car which was also paid off. making payments on a $75k car for years after wadding it up and completely totaling it would not be fun. this is why eventually my track-day car will be something i can live without for a while if i had to.

i would think "is it worth it to you to throw away a few hundred bucks if you don't need it for the peace-of-mind that you won't have to drop 10, 20, or more thousands of dollars on repairs" (to your car, the other guy's car, and the track which itself can be really expensive at COTA for instance) …

that's the reality and the only person who can make the final choice for your situation is you. i'll be using the insurance until my car is paid down quite a bit, but i'm also only tracking pretty infrequently in a brand new car this coming season.

lockton seems like a safe bet from my 2nd hand perspective. good luck with the decision!