June 1/15 CTV Toronto Pat Foran - Track Day Insurance

[Black 03 Z06]

Interesting story by Pat Foran on CTV this evening (Toronto News). He was covering a "Track Day" event at Canadian Tire Motorsport Park. There is an insurance company Moore Mclean (sp?) that is now offering insurance for these track day, supposedly the first in Canada. For a $50K value car the insurance would cost about $430 for the day with a $5K deductible. The car must be legally plated and driver must be over 21.

They do not cover pure race cars or motorcycles. This is perhaps not new but I thought it might be interesting to some of you. You can find the video of the segment if you go to CTV News Toronto and type in Pat Foran.

 

[2009CGMZR1]

interesting.

http://mooremcleaninsurancegroup.com/

Brian

 

[Riley P]

How many people wreck their cars during a track day? Especially since most track days that I am aware of, are single file and you don't really race? Seems quite expensive for a 24 hour permit with quite a large deductible but at the same time, it would be nice having some coverage. Maybe that's why the guy who smashed the front off his C7Z down south wasn't that concerned about it?

 

[Ntmd8r]

Especially since most track days that I am aware of, are single file and you don't really race?

Well, at all the "track days" I participate in, there certainly is "spirited" driving.
And we do pass each other, and vie for position, etc.
Single file is certainly not on the menu.
We do "Point to pass".... come up behind a car, if they don't see you, flash your lights,
they then pull over a bit, and actually point out the window with their hand to indicate
that you can pass.
When you have different marques out there at one session, there is bound to be
some "my dick is bigger than yours" attitudes.

Yes, we do try to be "gentlemanly", but testosterone being what it is......... just sayin'.

 

[Riley P]

That's a perfect explanation. Always wondered how competitive track days were.

 

[smackYYZ]

How many people wreck their cars during a track day? Especially since most track days that I am aware of, are single file and you don't really race? Seems quite expensive for a 24 hour permit with quite a large deductible but at the same time, it would be nice having some coverage. Maybe that's why the guy who smashed the front off his C7Z down south wasn't that concerned about it?

My son works at TD Insurance as a claims manager, he told me last year they wrote a check for about $70k for a guy who put his Lambo into the wall at Cayuga while participating in a track day. So some insurance companies will cover HPDE and track days, it's just full out racing that may be excluded. Call your broker to get the details.

 

[Black 03 Z06]

I think in the video Foran mentioned that if the lapping is considered "driving instruction" and not actual racing some insurance companies will cover damage. I think I would want to know for certain before participating.

Good information on TD. Wonder if they changed the policy wording after that claim?

 

[Nik]

I have a feeling 'track' day insurance is a wee bit of a scam at this stage. Your regular insurance can and *should* cover you for lapping events. You'll note most are classified as lapping events or driving instruction. I recall a case in Canada a few years ago where insurance was denied and the claimant took the company to court, and won.

The key provision/difference is that it's not a 'race' or a timed event.

As always read the small print in your policy. The fact that they may have an explicit exclusion for track days does not necessarily make it legal but it does imply that there will be hassle should you make a claim.