HPDE Insurance, do you buy it and who from?

JJ427R · Feb 20, 2020

Racer47 said:
Insurance companies make money because they analyze the risks and charge accordingly

Previously you already stated

Racer47 said:
The other way is that insurance compaines make money, a lot of money. Because you pay more for insurance than the risk you are under.

Pretty much what I stated above, it's high risk because of the speeds and hard cornering. And the price was $300 for the weekend which was actually 3 days, but I only ran 2 days, still cost me $300 for the 2 days though. Considering my car was just over $40k I figured it was worth it.

mach2race · Feb 21, 2020

Seems like some other insurance company would come in and low-ball these 300 dollar a day guys and still make lots of money!

Norm Peterson · Feb 21, 2020

The math would still have to work.

At $300 per person per day, it would take 50 premiums paid just to cover the cost of a $15,000 payout. And then there's overhead and sales department salaries before the company can even think about netting any underwriting profit whatsoever.

I don't see this line of insurance working as a loss leader because the track day market just isn't that big compared to auto, home, and life insurance lines that can do a far better job of feeding each other.

Norm

Anti · Feb 22, 2020

Norm Peterson said:
The math would still have to work.

At $300 per person per day, it would take 50 premiums paid just to cover the cost of a $15,000 payout. And then there's overhead and sales department salaries before the company can even think about netting any underwriting profit whatsoever.

I don't see this line of insurance working as a loss leader because the track day market just isn't that big compared to auto, home, and life insurance lines that can do a far better job of feeding each other.

Norm

...and then enters in the fine print to wiggle out of every claim possible.

JJ427R · Feb 28, 2020

I finally received a response on my question if the insurance covers damage to a wall or the track.

"We would clean pollutants if it was from a direct cause of loss but not if it was malfunction. Damage to a wall would not be covered as there is no liability. This policy only covers damage to your vehicle."

Juice · Feb 28, 2020

JJ427R said:
I finally received a response on my question if the insurance covers damage to a wall or the track.

"We would clean pollutants if it was from a direct cause of loss but not if it was malfunction. Damage to a wall would not be covered as there is no liability. This policy only covers damage to your vehicle."

This what I thought, just wasnt 100% sure. Thanks for.confirming.

HPDE Insurance, do you buy it and who from?

JJ427R

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mach2race

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Norm Peterson

corner barstool sitter

Anti

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JJ427R

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Juice

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