Collector car and track insurance options - LotusTalk - The Lotus Cars Community
 
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post #1 of 8 (permalink) Old 08-17-2019, 07:03 AM Thread Starter
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Collector car and track insurance options

Have an Evora 400. Quickly realized that regular insurers like Progressive and Geico are expensive on this car. Progressive is who I have all my other vehicles through but they were way more than Geico. Florida has much higher premiums in general compared to say the Midwest.

Have been rear ended twice in the past 3 years so my rates aren’t great even though they weren’t at fault accidents. No tickets. Geico is like $222 a month or $2,600 a year. And that’s for pleasure use at just 3,000 miles a year.

Anyhow, looking into collector car insurance like American Modern and Haggerty. Would like a policy that has coverage for a couple track days a year. American Modern is $1,400 a year for 6,000 miles annually. A lot better than Geico. Don’t see track coverage though.

For those of you that track your car occasionally... what insurance company are you using? What rate do you have?
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post #2 of 8 (permalink) Old 08-17-2019, 07:20 AM
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Take a look at Lockton. They will see you a per use track insurance. Also, Haggerty sells track insurance. If you track a lot, the best I have found is Open Track. They will sell you yearly use insurance.

Later,
Eldon
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post #3 of 8 (permalink) Old 08-17-2019, 07:36 AM Thread Starter
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Quote:
Originally Posted by eldonz View Post
Take a look at Lockton. They will see you a per use track insurance. Also, Haggerty sells track insurance. If you track a lot, the best I have found is Open Track. They will sell you yearly use insurance.

Later,
Eldon
Thanks Eldon. Funny I was just on Lockton’s page before reading this. Looks like most insurance companies don’t offer track days and people are buying insurance for each event they do. Can’t be a race or timed though. Ontrackinsurance.com is $454. Hagerty is $477. Seems steep for one day... but certainly cheaper than trying to repair an Evora I suppose. 😂

I was hoping I could find an every day carrier that allows like 2 track days a year.

Open Track has liability coverage. Doesn’t look like others do.

Last edited by Markmysite; 08-17-2019 at 07:45 AM.
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post #4 of 8 (permalink) Old 09-03-2019, 01:20 PM
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I just got my renewal notice from Hagerty and it went from $1038 for 2 cars to $1,335 for just the Elise. They said that higher than expected claims in Georgia caused the increase (doesn't matter that I have never had a claim in my life). But a 29% increase for one less car seems outrageous. Earlier in the year I checked Hagerty about track coverage and it was over $1,000 for the weekend. I had used Lockton a few years ago and it was like $250 for the weekend.

I checked Grundy and they quoted $508 for similar coverage ($40K value). Anybody have any direct experience with Grundy for a claim?
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post #5 of 8 (permalink) Old 09-07-2019, 06:07 PM
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I've had Hagerty insurance for some time now, but am pretty disappointed with their price increases. Last year I said something to them about it, but they were firm on their rates. I found someone cheaper at the time, but due to some circumstances, stuck with them for another year. Now my insurance is set to renew early next month, and they want nearly $1,500/yr for my car. I shopped with Grundy, and they are nearly 1/3rd less! I am in the process of getting that switched over now. Hoping they will be as good as Hagerty has been (minus the ridiculous price increases).

As far as track insurance, I have used Open Track. I don't track enough to do an annual policy, so I insure for each track day I do. Thankfully haven't had to use it, but the added insurance is piece of mind!

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post #6 of 8 (permalink) Old 09-07-2019, 06:21 PM
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ALL insurance companies increase rates as time goes on. They are counting on customers being lazy and not looking to shift carriers. If you've had insurance with the same company for 4+ years, you will likely get a lower rate by moving to another carrier. @Markmysite , find an independent agent, one that represents multiple companies, and just have them search for you. These agents will also be able to take care of the 4 year shuffle that you have to do to avoid wasting money.
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post #7 of 8 (permalink) Old 09-07-2019, 07:04 PM
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I am using Hagerty and we'll see how much they jack rates up over time. They also offer track insurance, which is added piece of mind. That said, I bet buying regular insurance and track insurance from the same provider can't be good for your rates.
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post #8 of 8 (permalink) Old 09-08-2019, 08:05 AM
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Hagerty has gotten too expensive. Might as well use a regular, non restricted insurance company.
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