Track day insurance prices?!

[luckyhands]

Hi all,

I've been looking to insure my 718 GT4 for its first track day. I paid just over £97k for it and wanted to insure it for that.
The quotes I'm getting back are crazy - £14k excess and the cheapest for a full day is £810!
How much are people paying to insure their GT4s? Surely there's a cheaper way?

[julian987R]

luckyhands said:

Hi all,

I've been looking to insure my 718 GT4 for its first track day. I paid just over £97k for it and wanted to insure it for that.
The quotes I'm getting back are crazy - £14k excess and the cheapest for a full day is £810!
How much are people paying to insure their GT4s? Surely there's a cheaper way?

https://www.pistonheads.com/gassing/topic.asp?h=0&f=231&t=1873852&i=20

[Taffy66]

You need to have it included in your car policy otherwise costs spiral out of control. Typical specialist track day insurance just for one day are deemed to be high risk and priced accordingly. They generally have upper limits of about £75k which is OK for less valuable cars but are a complete waste of time for high value cars over say £150k+

[Randall Poffo]

Track has a big role to play in the pricing.

Silverstone is a “cheaper” track as wide and decent run off areas.

Good wood is a very expensive track.

Big wide “slow” with lots of run off areas is a better track.

Don’t allow additional drivers.

The market has been hot with a volume of claims the past couple of years and rates / terms need to go up.

I always worked on a rating of 0.7-1%, so your quote is in the ball park.

If you were to insure 100 £90k cars in a year having one go off isn’t unrealistic.

[mattkidd]

luckyhands said:

Hi all,

I've been looking to insure my 718 GT4 for its first track day. I paid just over £97k for it and wanted to insure it for that.
The quotes I'm getting back are crazy - £14k excess and the cheapest for a full day is £810!
How much are people paying to insure their GT4s? Surely there's a cheaper way?

I too have 718 GT4 which I’ve been looking to get insured for a trackday. Unfortunately I’m getting similar figures

£600+ for a single day at Goodwood

[Cheib]

Get insurance with track days included…the overall cover is almost certainly better than the insurers who offer the cheapest cover. It’s all in the price.

My GT3 is with Zurich Private client and is covered for three track days per year. My older air cooled car is with Chubb as there are terms in that policy that are needed for that car….that includes an unspecified number of track days but it’s down to the day. Last track day I did at Brands Hatch had 30 cars of which I doubt there were ever more than a dozen on track at the same time as per different tracks having different risks I am sure insurers have different risks for different organisers.

[james.a.c.911]

Cheaper Porsche but I’m with manning and have unlimited track days included - as long as they are run by an ATDO member or big car club. Agreed valuation at 45k. Total annual insurance is about what you are quoting for 1 track day.
On track day excess is about 10% as far as I remember which seems very reasonable to me.

[px1980]

luckyhands said:

Hi all,

I've been looking to insure my 718 GT4 for its first track day. I paid just over £97k for it and wanted to insure it for that.
The quotes I'm getting back are crazy - £14k excess and the cheapest for a full day is £810!
How much are people paying to insure their GT4s? Surely there's a cheaper way?

I insure my 718 GTS 4.0 (so ~85% of your car’s value) with Moris and pay £1500 for 5 trackdays package.

[pcrawf]

james.a.c.911 said:

Cheaper Porsche but I’m with manning and have unlimited track days included - as long as they are run by an ATDO member or big car club. Agreed valuation at 45k. Total annual insurance is about what you are quoting for 1 track day.
On track day excess is about 10% as far as I remember which seems very reasonable to me.

I'm guessing you haven't had a recent renewal notice from them! I got mine a couple of weeks ago, and the unlimited track days cover has become uneconomic - in their words: "due to a further total loss claim involving a Porsche vehicle whilst on a Track Day at Anglesey underwriters have made the decision to withdraw all insurance cover whilst your vehicle is being driven on a Track Day from renewal date".

Very disappointing as I didn't get a chance to get on track in the past year.

Manning are looking at options to provide track day cover for standalone track days; I'll have to wait and see what the cost and conditions are like. It's a shame the overall cover has gone though!

[Cheib]

pcrawf said:

james.a.c.911 said:

Cheaper Porsche but I’m with manning and have unlimited track days included - as long as they are run by an ATDO member or big car club. Agreed valuation at 45k. Total annual insurance is about what you are quoting for 1 track day.
On track day excess is about 10% as far as I remember which seems very reasonable to me.

I'm guessing you haven't had a recent renewal notice from them! I got mine a couple of weeks ago, and the unlimited track days cover has become uneconomic - in their words: "due to a further total loss claim involving a Porsche vehicle whilst on a Track Day at Anglesey underwriters have made the decision to withdraw all insurance cover whilst your vehicle is being driven on a Track Day from renewal date".

Very disappointing as I didn't get a chance to get on track in the past year.

Manning are looking at options to provide track day cover for standalone track days; I'll have to wait and see what the cost and conditions are like. It's a shame the overall cover has gone though!

Uunlimted Track Days….if something is too good to be true it often is !

I guess Mannings have found that taking all that risk isn’t economic.

[james.a.c.911]

pcrawf said:

'm guessing you haven't had a recent renewal notice from them! I got mine a couple of weeks ago, and the unlimited track days cover has become uneconomic - in their words: "due to a further total loss claim involving a Porsche vehicle whilst on a Track Day at Anglesey underwriters have made the decision to withdraw all insurance cover whilst your vehicle is being driven on a Track Day from renewal date".

Very disappointing as I didn't get a chance to get on track in the past year.

Manning are looking at options to provide track day cover for standalone track days; I'll have to wait and see what the cost and conditions are like. It's a shame the overall cover has gone though!

Ugh - renewal in December - i hope they find a solution in the meantime!

[james.a.c.911]

Cheib said:

Uunlimted Track Days….if something is too good to be true it often is !

I guess Mannings have found that taking all that risk isn’t economic.

Been on this policy for a few years now. There were others also when i had shopped around.
i only manage to do 3 or 4 days per year unfortunately anyway.
Was definitely by far the best cost per day by far. You might be right here.