[DeTomaso] insurance question

[Julian Kift]

Boyd,
 
I got quotes from all the big classic insurers a year or so ago and all excluded track events, most including HPDE (High Performance Driving Experience).
 
Its a "damned if you do damned if you don't" scenario, as if you specifically ask an insurer they will say you are not covered knowing well that you have intent by asking, if you don't ask you won't know until you need to claim...
 
I was with American Reliable for some years and no stated exclusions in the policy, although when I added the Ultima they made me sign a waiver specific to it after I sent the photos as it apparently "looks too much like a race car". I had to sign that it would not be used for "timed events or competitive racing", this is the clause HPDE have been working around as those events are neither timed nor competitive.
 
This last year I managed to cut my insurance costs in half by switching to Chartis (via the Barret Jackson endorsed insurance program), but they have a no coverage exclusion for "operating an auto on a racetrack or test track". 
 
I found that most all insurance companies are moving to exclude any on track events and the hole is being filled by track specific insurers where you purchase event specific insurance. Lockton Affinity is one of the better known as they are partnered with Motorsportreg.com, but there are others. The isnurance covers agreed loss to your vehicle, not a third party.
 
Julian
 
 
> Date: Wed, 9 Feb 2011 00:25:10 -0500
> From: boyd411 at gmail.com
> To: detomaso at realbig.com
> Subject: [DeTomaso] insurance question
> 
> I just got my insurance renewal and the policy had a new addendum that
> stated unequivocally that no track event OF ANY KIND would be covered
> (including but not limited to driver training,events held in parking lots or
> any event that could even remotely be construed as any type of driving event
> other then a parade would not be covered. They even went as far to say if
> your car were in any part of a race track (other then the parking lot you
> were not covered.
> My insurance company is American Modern Home(the classic car division of
> GEICO). Can anyone tell me if their insurance companies (like Haggerty)
> have the same kind of exclusions? My Policy renews on march 29 and I am
> considering switching if I can find one with more agreeable terms. Aside
> from this issue the policy seems pretty reasonable in both cost and
> conditions.
> Boyd
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