Finding the best car track day insurance can be difficult, especially if you are using your every-day vehicle for track days.
Most standard car insurers exclude track days, so you’ll generally need to purchase cover from a specialist insurer.
Here’s everything you need to know about track day insurance costs and cover.
What is track day insurance?
Track day insurance provides accident cover when you drive your car on a racetrack as part of an organised track day. The majority of standard car insurance policies exclude track days due to the risks involved, so always check what cover you have – and ask for confirmation of any cover you do get with your policy in writing before heading on to a track. Remember too, that you will lose your no claims discount if you claim for an accident you have on track.
In most cases, the best option is to take out a separate policy with a specialist track day insurance provider. You can choose between a policy that covers one event, or one that covers multiple track days.
How does track day insurance work?
Track day insurance is designed to provide cover when you are driving your car on a racetrack rather than the road (although some policies also cover the journey to and from the track).
With track day insurance, you can choose a certain value to insure. For example, this doesn’t have to be the full value of your car (like regular road insurance) but instead insures you against an amount specified.
Typically, as a driver, you are only covering accident and/or fire damage to your own vehicle, there is no 3rd party liability.
With track day insurance, you can have multiple drivers with the option of half or full day cover on track.
Do I need track day insurance?
It’s sensible to take out track day insurance cover if you are planning to drive a vehicle you own on a racetrack. Track owners are not responsible for any damage.
While you’re not usually liable to any damage caused to the track itself, it’s also worth remembering that you will have to pay for any damage to your own vehicle, whether or not a crash is your fault. Even if your standard insurance policy covers your vehicle for track days, by relying on your everyday insurance, you risk losing your no claims bonus if you have an accident on track.
A specialist track day car insurance provider will be able to advise you on the right sort of policy and tailor your cover to meet your individual needs. If you’re planning to compete, for example, race insurance may prove a better choice.
It’s rarely included on standard car insurance policies, although you may be able to add it to certain policies for modified cars. Most drivers therefore take-out track day insurance separately to their everyday car cover.
What does track day insurance cover?
The cover provided by track day insurance policies varies, so it’s always sensible to check what is included before taking out a policy. Standard Grove & Dean Motorsport Insurance policies are priced on either a ‘full value basis’, which means you can claim the full value of your vehicle if you are involved in an accident, or an ‘agreed value basis’, where you are covered up to a value agreed between you and them.
This basis enables you to insure a percentage of the value instead, which is one way to cut track day insurance costs (see below for more cost-cutting tips).
Things to check when comparing track day insurance policies include:
- Is the type of car you drive covered (supercar, classic car, modified car etc.)?
- Is fire damage covered?
- Is personal injury cover included?
- Which tracks are covered (across UK & Europe)
- Journeys to and from the track – are they covered?
- Are spare parts/tool kits covered?
How much does track day insurance cost?
The cost of track day insurance depends on a number of factors including:
- The type of car you drive (more expensive models will cost more to insure)
- The number of track day events you plan to take part in
- Previous track day claims experience
Track day insurance premiums are also affected by any modifications you make to your vehicle; performance enhancements increase the risk of an accident, whilst cosmetic modifications make repairs more expensive. However, you must inform your insurer about any such improvements, as failing to do so could invalidate your policy.
Can I cut the cost of track day insurance?
Ways to cut the cost of car track day insurance include:
- Agreeing to pay a higher voluntary excess towards any claims – the higher the excess, the lower your premiums is the general rule.
- Getting some track day experience under your belt – many track day car insurance providers offer discounts for experienced track day participants.
- Choosing a safer track – some insurers will offer cheaper track day cover on tracks with large ‘run-off’ areas.
- Taking out a multi-day or annual policy – this can prove cheaper than several single-day policies.
Compare track day car insurance
It’s easy to compare track day insurance quotes with MoneySuperMarket’s car track day insurance partner Grove & Dean Motorsport Insurance. Simply answer a few questions about you, your car, and the track day you want to take part in and it will give you a fast online quote for a policy that suits your needs.
If you’re looking for standard car insurance, you can also find and compare car insurance quotes with MoneySuperMarket.