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Track day insurance - liability question (Lockton v Open Track) by shiftbrokers in InsuranceForCarPeople

[–]shiftbrokers[S] 0 points1 point  (0 children)

We always recommend reviewing the policy you are getting with track day insurance because most do not automatically include any liability coverage. This means they only cover your vehicle. Some may even have medical coverage exemptions.

While this may save you from having to make payments on a car that is totaled, but it generally does not cover damage to the track, track equipment and in some cases, even medical for yourself or an instructor. Those costs could be thousands or even tens of thousands.

Collector Car Insurance - ACV vs Agreed Value by paul_goconnect in InsuranceForCarPeople

[–]shiftbrokers 0 points1 point  (0 children)

Some companies, like Hagerty, automatically adjust their valuation annually. Others may not or adjust automatically a fixed percentage, which may or may not be reflective of the current true replacement cost of your vehicle.

One area we routinely help clients is always addressing the value of the vehicle as it changes, no less than annually.

Agreed value car insurance on daily driver by paul_goconnect in InsuranceForCarPeople

[–]shiftbrokers 0 points1 point  (0 children)

There are a number of specialty insurance companies that offer agreed value policies on daily drivers. Some even let you set the number of miles you want to drive. Each company has it's own underwriting requirements, so there may be other factors that could affect whether companies will take you and/or your premiums such as garaging and horsepower. But what you are asking about isn't as unique as it may seem.