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Do I Need Track Day Insurance?

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Do I Need Track Day Insurance?

Everyone with a car knows how important car insurance is or if they don’t, they’re likely to find out someday in the worst way possible. Many states demand that everyone with a vehicle have at least a minute amount of coverage in the case of liability or damage to other drivers’ vehicles. However, this doesn’t mean that everyone knows what their car insurance covers or how far it goes. Many are completely unaware that other forms of car insurance exist as supplements to the basic car insurance one needs simply to get on the road. Among these is Track Day Insurance, a specific form of coverage you might not be aware of. We here at XINSURANCE believe strongly in empowering our customers. Keep reading for some facts you should know.

Track days are special events held at race tracks allowing drivers to bring their vehicles from outside to have a spin around the track. This can be a great way to practice your driving in a controlled environment and push your vehicle in ways that simply aren’t safe or legal on the open road. They are also an excellent place to meet other drivers and car enthusiasts, swap information, and get to know people outside the usual car enthusiast groups on the internet. Track days are growing increasingly popular as it gets overall much easier to spread the word and organize events over the internet and social media.

Nearly anyone can participate in a track day, but not everyone should without Track Day Insurance. As a matter of fact, it would be extremely risky to participate in a track day without the proper insurance coverage or at least doing the research to determine if such insurance could be beneficial. If you aren’t already familiar with this form of insurance, it’s definitely a good idea to familiarize yourself with it in the context of the laws of your state. The following are some reasons why.

First and foremost, you are probably not covered for a track day even with a hefty car insurance policy. No matter how high quality your car insurance policy is for the purposes of driving, it is almost certainly not sufficient to cover you for any liability that might occur on a race track. This could mean that any accidents that might occur will completely invalidate your insurance and leave you with nothing to protect your finances in the case of liabilities that might arise. More than one driver has found this out the hard way assuming the car insurance they already had covered them in a different scenario than they were in.

Furthermore, even being protected on a race track does not mean that you are protected on track day. The first is a location. In many cases, using your vehicle improperly, such as trying to push a vehicle past its limits in unwise conditions, can invalidate your coverage. Similarly, using your vehicle improperly in an event can also invalidate your coverage. Thus, even if your car insurance has a clause allowing for protection on or off the race track, you’ll want to make sure you’re allowed to be on the race track with other drivers. Otherwise, you’re quite likely to be in for a shock when you find out you aren’t covered.

Track Day Insurance is also extremely useful because its payment scales tend to be different. It won’t cost as much as a full insurance plan for driving, because track days aren’t every day. However, it may cover much more than your basic car insurance. This is extremely important because track days can incur much more expensive costs to your vehicle and the vehicles of others than basic road driving. Speeds are higher for everyone involved, and higher speed means bigger risks. Even with the safeguards allowed on a closed course, you’ll want to make sure you’re properly covered.

Finally, some states are beginning to adopt clauses similar to the ones they already have about minimum insurance for vehicles. While some regard this as a form of overreach, it may well be required that you and everyone on the track be carrying coverage for the event, and that’s going to mean seeking out a plan before you can participate. Again, this shouldn’t be too burdensome cost-wise. You should be able to find an insurance plan online fairly conveniently and get a quote in a short amount of time.

It’s quite possible to get insurance for nearly anything online. However, while many firms offer policies in nearly every state, these policies might have gaps in their coverage. It’s never a good idea to let liability catch up to you in a bad way. Track days are especially no exception to this, and it is always worth it to do your research before committing to anything that might cost you big. As so many learn the hard way, it’s always better to spend a little now to save a lot later. Come partner with us at XINSURANCE today and let us cover all the gaps in your insurance so that you can enjoy your next rack day without any worry.

Rick J. Lindsey
Rick Lindsey

President, CEO and Chairman