Type R Club of America

Wow so have premiums nearly tripled since then or …

My guess is many put more "on the line" with the insurance leading to more payouts, leading to higher premiums.

coolhandluke wrote:My guess is many put more "on the line" with the insurance leading to more payouts, leading to higher premiums.

Makes sense I suppose. High risk activity and all.

Have to love insurance, people buy it because they might need it, end up using it, so premiums go up, less people can afford or ultimately choose to purchase so risk pool decreases and premiums go up.

aklackner wrote: ↑Mon Jan 10, 2022 8:52 pm

coolhandluke wrote:My guess is many put more "on the line" with the insurance leading to more payouts, leading to higher premiums.

Makes sense I suppose. High risk activity and all.

Have to love insurance, people buy it because they might need it, end up using it, so premiums go up, less people can afford or ultimately choose to purchase so risk pool decreases and premiums go up.

I've only purchased HPDE insurance a few times:
-First time at Watkins Glen
-First time (and only time ) tracking 98-1040 after the BNIB transmission + LSD at Sonoma Raceway

I never "pushed it" at HPDE's, no trophys to win and I always needed to drive the car home, so I always left my own "insurance" on the table. There are always turn where one can "push" with additional risk, I just aimed for driving 7-8/10th's to leave an insurance buffer.

I've been using Haggerty. I don't think the posted exceptions match the ones that are in my policy...
My policy has similar statements, but early in the definitions, it defines competitive and non-competitive as different things, I did not chose Time Trials or competitive, so I have those same exceptions, which only apply to competitive events, not HPDE events. But yea, you should not overvalue the car, they wont pay that much (see Loss Payment section).

MadMage wrote: ↑Mon Jan 17, 2022 11:00 am I've been using Haggerty. I don't think the posted exceptions match the ones that are in my policy...
My policy has similar statements, but early in the definitions, it defines competitive and non-competitive as different things, I did not chose Time Trials or competitive, so I have those same exceptions, which only apply to competitive events, not HPDE events. But yea, you should not overvalue the car, they wont pay that much (see Loss Payment section).

You bring up a good point about timed and competitive events. That insurance policy goes both ways with event organizers too. It's why when people started barking at us about wanting an ITR Expo time trial group, etc., and we said no. I know it really irked a few people, but the headaches that come with changing an event to that are...for some other people to deal with. We're a super small club or group of ITR enthusiasts who punched WAY above our weight for many years. The track event industry has changed dramatically during our 18+ year run.