Track Day Insurance - Explain...
Discussion
Hi all,
I'm interested in taking my M235i on track at some point, specifically Oulton Park (very local) and getting some tuition, but I must admit I'm scared of binning it as it's an expensive car (to me) - Not because I plan on driving like a prick, but because I've had no prior experience on track and fully aware that another driver could also cause damage to my car.
I have briefly looked into track day insurance and the best quote I got was £162, which is fairly reasonable... Can someone more experienced tell me what people usually do? Some that I know just don't get it and risk it, I'm not sure I have the balls for that, yet.
I'm interested in taking my M235i on track at some point, specifically Oulton Park (very local) and getting some tuition, but I must admit I'm scared of binning it as it's an expensive car (to me) - Not because I plan on driving like a prick, but because I've had no prior experience on track and fully aware that another driver could also cause damage to my car.
I have briefly looked into track day insurance and the best quote I got was £162, which is fairly reasonable... Can someone more experienced tell me what people usually do? Some that I know just don't get it and risk it, I'm not sure I have the balls for that, yet.
Ask yourself if you were to stick it in the gravel and roll it, or slide off into a barrier, could you easily afford to repair the car? Would you be happy to take that risk to save the insurance premium when you're not very likely to need it?
If the answer is yes, then you may want to chance not having insurance. If it isn't, insure it.
I've always risked it or not on that basis.
If the answer is yes, then you may want to chance not having insurance. If it isn't, insure it.
I've always risked it or not on that basis.
I've written about this before... After 15 years of doing 5 or 6 track days a year in my Elise, I binned it at Spa on one wet slippery corner...
Fortunately I was insured through insuremytrackday, which is under written by Hiscocks, and they paid out in full as the car was (financially) written off.
So I would say, if the car is valuable to you and this is your first track day, then £167 is a small price to pay.
If you do so, make sure you have the correct forms with on the day just in case. You will most likely have to provide a statement form signed by a track official if you wish to claim.
Fortunately I was insured through insuremytrackday, which is under written by Hiscocks, and they paid out in full as the car was (financially) written off.
So I would say, if the car is valuable to you and this is your first track day, then £167 is a small price to pay.
If you do so, make sure you have the correct forms with on the day just in case. You will most likely have to provide a statement form signed by a track official if you wish to claim.
charltjr said:
Ask yourself if you were to stick it in the gravel and roll it, or slide off into a barrier, could you easily afford to repair the car? Would you be happy to take that risk to save the insurance premium when you're not very likely to need it?
If the answer is yes, then you may want to chance not having insurance. If it isn't, insure it.
I've always risked it or not on that basis.
This - I choose not to on the basis of the excess + the premium at 5 - 6 trackdays per year works out as more than re-shelling the car (in the worst case, I guess). Even though doing so would be a massive ballache. If the answer is yes, then you may want to chance not having insurance. If it isn't, insure it.
I've always risked it or not on that basis.
But Timbo's case is a perfect example of where that calculation works the other way - Elise's are notoriously expensive to repair and a worth a good bit more cash anyway in the event of a write-off! A simple "buy new car and transfer mechanicals" isn't on the cards in the same vein.
So do the maths for your own car and see what works for you
I always thing that the circuit (and often organiser) makes a difference too.
e.g. for my Exige (~£25k value), assuming a sensible TDO I would run with insurance at some circuits (Oulton, N-ring, Brands, Rockingham) but not at others (Bedford, Silverstone) given the vast differences in run-off areas, key to the likely extent of damage if I did fall off the circuit.
e.g. for my Exige (~£25k value), assuming a sensible TDO I would run with insurance at some circuits (Oulton, N-ring, Brands, Rockingham) but not at others (Bedford, Silverstone) given the vast differences in run-off areas, key to the likely extent of damage if I did fall off the circuit.
I didn’t do a vast amount of track days in my Sti but when I did I always took insurance out as it was my daily (and only) car and also didn’t have spare cash sitting around to replace pronto if I did bin it!
If your planning on doing them regularly you could pay for several days at once (I think it was insuremytrackday?) ie 5 or 10 and it works out cheaper per day but have to remember to ring them up a few days before to tell them what day/track your going on.
If your planning on doing them regularly you could pay for several days at once (I think it was insuremytrackday?) ie 5 or 10 and it works out cheaper per day but have to remember to ring them up a few days before to tell them what day/track your going on.
I’m insured through REIS, who give me 6 trackdays with the policy. Excess is 10% for trackdays, and they require 24 hours’ notice.
All depends what you’re driving on the track and the cost of writing it off - I didn’t bother with insurance on cheaper cars, but I prefer to have my Elise insured.
All depends what you’re driving on the track and the cost of writing it off - I didn’t bother with insurance on cheaper cars, but I prefer to have my Elise insured.
Excesses are usually high on TD insurance.
You have to remember that you're not buying anything like a normal car insurance policy here - it covers your car for damage on track (whether it's you binning it or someone hitting it) and nothing else. There's no concept of liability to third parties in track day insurance.
You have to remember that you're not buying anything like a normal car insurance policy here - it covers your car for damage on track (whether it's you binning it or someone hitting it) and nothing else. There's no concept of liability to third parties in track day insurance.
Depends on how much tuition you want really.
If you wanted to book a couple of 20 minute slots then best bet is usually the organiser, most will charge around £40 per slot so for less than £100 you can get some decent guidance. You can book longer sessions with the organiser but once you are getting to half a day or above then you may as well book an instructor directly as you should get someone for the day for around £300 (and upwards).
If you do book someone privately for the day I would expect them to encourage you to drive some sessions solo once the basics are in place as it allows you to see how much of the guidance is sinking in properly. Some drivers prefer to have their instructor in with them all day to maximise value but in my experience it doesn't maximise results.
If you wanted to book a couple of 20 minute slots then best bet is usually the organiser, most will charge around £40 per slot so for less than £100 you can get some decent guidance. You can book longer sessions with the organiser but once you are getting to half a day or above then you may as well book an instructor directly as you should get someone for the day for around £300 (and upwards).
If you do book someone privately for the day I would expect them to encourage you to drive some sessions solo once the basics are in place as it allows you to see how much of the guidance is sinking in properly. Some drivers prefer to have their instructor in with them all day to maximise value but in my experience it doesn't maximise results.
I look for annual insurance policies that cover track days.
You pay a bit more in premiums - My 996 C4S cost about £1k which includes 6 track days. Without track day cover it’s around £550.
My Exige has a similar policy, cost around £800 including 6 track days or unlimited if booked with Lotus on Track.
Both have £1k excess + 10% of cars value. Both need 24hrs notice.
You pay a bit more in premiums - My 996 C4S cost about £1k which includes 6 track days. Without track day cover it’s around £550.
My Exige has a similar policy, cost around £800 including 6 track days or unlimited if booked with Lotus on Track.
Both have £1k excess + 10% of cars value. Both need 24hrs notice.
Get two or three 20 minute sessions on your first day I’d suggest. For my first ever day on track I got an instructor for a whole day and whilst he was very good it was too much to take in - and I was totally broken at the end of the day.
Also, re insurance, depends if you can afford to replace or repair the damaged car with cash. If not, insure I’d say. Accidents tend come about due to your own errors rather than others I find. Mine certainly did. Racing is different.
In 2015 I binned an uninsured 996 at a very wet Silverstone that I’d spent £24k on. Sold the mangled heap for £6k. Regretted not insuring it.
I’ve binned other cars and again, my fault, but they’re not road legal and/or race cars so slightly different.
Let us know how you get on. Oulton is a fabulous circuit.
Also, re insurance, depends if you can afford to replace or repair the damaged car with cash. If not, insure I’d say. Accidents tend come about due to your own errors rather than others I find. Mine certainly did. Racing is different.
In 2015 I binned an uninsured 996 at a very wet Silverstone that I’d spent £24k on. Sold the mangled heap for £6k. Regretted not insuring it.
I’ve binned other cars and again, my fault, but they’re not road legal and/or race cars so slightly different.
Let us know how you get on. Oulton is a fabulous circuit.
Bedford is a great track for a rookie huge run off areas and quite long so not much traffic on a normal day , I don’t insure my car there as it’s quite a safe environment imo the Ring diff story but I have more experience there now so might consider going without on my next visit . And as far as I understand it there is no third party risk on a track day everyone accepts the risk and gets on with it if someone hits you and you don’t have insurance it’s tough luck unfortunately, car to car collisions are extremely rare usually people run out of talent and go off themselves.
Thanks for the help/advice guys, appreciate it... It's pretty daunting looking into it for the first time, however I feel much more informed now 
The more I'm looking, the more I think I'm going to avoid Oulton Park and opt for Donnington due to the extra run off space etc and it's only at bit further from me distance wise.
Also think I'm gunna wait until I replace my rear tyres and book a couple of sessions with an instructor as recommended.
One more insurance query; Do you need to inform your current insurer that you're going on track with track-day insurance? Do they care? I wouldn't want them being funny with me and invalidating my insurance despite not claiming and having appropriate track-day insurance in place...
The more I'm looking, the more I think I'm going to avoid Oulton Park and opt for Donnington due to the extra run off space etc and it's only at bit further from me distance wise.
Also think I'm gunna wait until I replace my rear tyres and book a couple of sessions with an instructor as recommended.
One more insurance query; Do you need to inform your current insurer that you're going on track with track-day insurance? Do they care? I wouldn't want them being funny with me and invalidating my insurance despite not claiming and having appropriate track-day insurance in place...
I have 5 track days a year included in the £480 annual premium I pay for both road and track use of my modified TVR. It's a classic car policy.
Additional track days over the 5 allowed are £53 a time.
On track the terms are that it covers my car only, and accidental damage only (may cover fire, I am not sure).
I have an excess of 10% of the value of the car, so they won't be paying out for any accident that costs less than £2000.
I have always been insured throughout the 30+ track days I have done in the last seven years.
I have had a few spins, have left the track a few times, including once at Mallory Park at well over 100 mph, but so far have done no more damage than needing to refurbish a couple of wheels with gravel rash, and refresh my underwear.
In the time on track i have seen a few cars binned into the barriers, and have seen one poor Exige driver get crashed into by a lunatic in £200 worth of Rover 75, who tried to overtake him in the middle of the hairpin bend at Cadwell Park, but forgot to steer. Said Lotus driver WAS insured - his damage looked like £20,000 worth to me. On another occasion I saw a TVR Chimaera hit from behind when another car ran out of brakes. He wasn't insured, and the damage was several thousand pounds worth. The driver of the car behind did contribute £1000 towards the cost of repairs, but he was under no legal obligation to do so.
So, OP, I would invest in track day insurance for your BMW 235i.
Then you can enjoy yourself safe in the knowledge that any disaster won't lose you the car.
Additional track days over the 5 allowed are £53 a time.
On track the terms are that it covers my car only, and accidental damage only (may cover fire, I am not sure).
I have an excess of 10% of the value of the car, so they won't be paying out for any accident that costs less than £2000.
I have always been insured throughout the 30+ track days I have done in the last seven years.
I have had a few spins, have left the track a few times, including once at Mallory Park at well over 100 mph, but so far have done no more damage than needing to refurbish a couple of wheels with gravel rash, and refresh my underwear.
In the time on track i have seen a few cars binned into the barriers, and have seen one poor Exige driver get crashed into by a lunatic in £200 worth of Rover 75, who tried to overtake him in the middle of the hairpin bend at Cadwell Park, but forgot to steer. Said Lotus driver WAS insured - his damage looked like £20,000 worth to me. On another occasion I saw a TVR Chimaera hit from behind when another car ran out of brakes. He wasn't insured, and the damage was several thousand pounds worth. The driver of the car behind did contribute £1000 towards the cost of repairs, but he was under no legal obligation to do so.
So, OP, I would invest in track day insurance for your BMW 235i.
Then you can enjoy yourself safe in the knowledge that any disaster won't lose you the car.
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