How does track day insurance work?
What is covered?
- You can choose any value to be insured, up to the full value of the car, BUT unlike Home/Private Car Insurance, it doesn’t have to be the full value.
- Accident Damage and/or Fire Damage
- All track time (regardless of number of sessions) – as long as Insurers are aware you are on track that day.
- Obviously any damage you cause OR is caused by a Third Party – remember there is no automatic Third Party liability in Motorsport, so you can’t claim off other people’s insurance!
- Own & specialist labour – but check the policy to see if any restrictions on hours and/or rate per hour.
What isn’t covered? (generally, but check the Policy Wordings)
- If Insurers haven’t been made aware of the event on track e.g. date and/or track
- If Insurers haven’t been made aware of any additional drivers; who subsequently have an incident
- VAT
- Consumables (tyres, oils)
- Mechanical failure to the engine and/or gearbox
- Any issue ‘off the track’/in the paddock – these would be covered by either your road car insurance or a separate Storage & Transit policy
Important Information
- Any incident, even if it doesn’t result in a claim going ahead, should be reported to Insurers within 48 hours.
- Photos of the damaged cars should be taken immediately after the incident – from all four sides.
- If a claim does proceed then Insurers will require (at least) one photo per damaged part invoiced e.g. 15 items on the repair invoice = (min) 15 photos.
To get a quote with Grove & Dean go to https://bit.ly/2M2irkA.
We’d like to thank Karl for taking the time to explain the basics of track day insurance, to speak with him directly he can be contacted on +44(0)1708 606768