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Insurance for DE

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Insurance for DE
Phokaioglaukos Offline
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#11
08-19-2006, 06:14 PM
Brian, you might well be right. The info I copied from Lou's message is from an old message I saved. He is a good guy, though, and it might be wortg a call. He ABSOLUTELY understands the DE insurance game. Whether he can help now or not I really do not know, though.
Chris
981 GT4
996 GT3 Cup
911 Carrera Sport Coupe
PCA Nationally Trained DE Instructor #200810247
Genesee Valley BMW CCA Instructor
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Phokaioglaukos Offline
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#12
10-07-2006, 11:08 AM
Checked a rumor with my agent last week and heard that effective November 15 State Farm policies will exclude any on-track activities in addition to the no racing exclusion that has been there for a while. My policies renew on November 10, so this will affect me starting May 15, but I have a bunch to consider now.
Chris
981 GT4
996 GT3 Cup
911 Carrera Sport Coupe
PCA Nationally Trained DE Instructor #200810247
Genesee Valley BMW CCA Instructor
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Tony356993 Offline
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#13
10-07-2006, 04:41 PM
Chris,

 

Keep us posted. I'm good until about May 2007 also.
Tony Scalies
'12 Boss 302
'11 GT350


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Phokaioglaukos Offline
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#14
10-25-2006, 10:10 AM
I'm learning lots more about this, and have talked to Tom Bobbit, the Laurel DE insurance folks, the Georgia insurance investigator and some people in the industry that a client introduced me to. When I get to the end of the road, I will post here, but you are welcome to ask me about it at any meeting/DE.

At present, there is no good answer. Unless that changes, I'll be self-insured while on the track, so keep your distance!
Chris
981 GT4
996 GT3 Cup
911 Carrera Sport Coupe
PCA Nationally Trained DE Instructor #200810247
Genesee Valley BMW CCA Instructor
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pmajka Offline
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#15
10-25-2006, 04:21 PM (This post was last modified: 10-25-2006, 04:23 PM by pmajka.)
I have heard a few positive and some negative things about laurel DE....


i went with them anyway...


better something than nothing.

Hope no one has to excercise the insurance.

Oh, my car is not a classic and is my daily driver, so.....yeah.


88 911 Andial 3.7L and Widebody'd
07 Nugen
04 Nugen Wagen

Yes, I am still around
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Brian Minkin Offline
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#16
10-27-2006, 12:54 PM
Phokaioglaukos wrote:
Quote:Checked a rumor with my agent last week and heard that effective November 15 State Farm policies will exclude any on-track activities in addition to the no racing exclusion that has been there for a while. My policies renew on November 10, so this will affect me starting May 15, but I have a bunch to consider now.
I just recieved my policy renewal for State Farm in the mail today. The following is their exclusion included with this renewal.

"The exclusion regarding racing and speed contests has been changed to state that there is no coverage while a vehicle is:

a. off public roads and being prepared for, used in practice for , or operated in any racing, speed, hill-climbing, jumping, or similar contest; or

b. on a track designed primarily for racing or high-speed driving"

Effective date of this policy is 11/27/06 so this is consistant with what Chris was told.

1995 993 - Track car
1994 965 - Race car
2002 Boxster - Her car but I get to drive it
2008 Cayenne S - Her daily driver
2006 Ford F-250 crew cab diesel - Porsche Suppport Vehicle & Tow truck
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IMQKRNU Offline
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#17
11-13-2006, 04:42 AM
I attempted to process a claim for a DE accident through State Farm years ago.  While they did not pay the claim for many reasons, they did teach me a little bit about insurance. 

1) Autocross is considered a competitive event in the eyes of your insurer.  Therefore, your participation in DE can be construed to be training for your competitive autocross career.  State Farm hung their hat on the fact that they had a photograph of me taken at a PCA autocross in the car insured with them.  Insurance companies will do more than a little research to avoid writing a $56k check.

2) Even though they denied the claim, they asked if I still owed money on the car.  Apparently, they owe a fiduciary responsibility to the lienholder on your car, even if you were irresponsible and they denied the collision portion of the claim.  They said they would pay off my loan, and MAY come after me for reimbursement since they paid out on a claim that was outside of my policy guidelines. 

This should make you think.  Going forward, maybe the answer is to maintain a car loan on your car at all times, so the insurance company has to pay them if you wreck on the track.  I'd rather fight the insurance company in court as a defendant than as a plaintiff.  

In my case, I rescinded the claim to avoid being cancelled.  Yep, even though they were refusing the claim, they still intended to cancel my coverage, stating that they had learned things about my use of my automobiles that made me a bad risk.   When the replacement for my insured Porsche was a Mercedes S500, they believed that I had learned my lesson and would not be attending any further DE training events in their car.  Smile
Dave Coughlin
http://www.carconnectionsusa.com
'86 Porsche 951 Track Car
'86 Porsche 911 Carrera
Whatever else I can get my hands on!
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