My renewal come through recently from competition car insurance, it was I good price of £310 all in. When I phoned to pay I told them that I would not be tracking the S1 Exige, to which the lady said we can’t offer cover without track usage. I asked if I could take the cover and not use the track days but I did not get a good feeling in the response. She did ask someone and they said they would offer cover as I was an existing policy owner. I still did not have a warm feeling so I switched to REIS with agreed value of 35k, no track days and it was pretty much the same price.
It’s just very odd that they can’t cover you when you lower the risk. I know people in"the other place" moan about CCI but they have always been good to me.
Strange rule, we can cover you, but only if you drive your car on a race track…
Agree that you would have thought that saying no track days would lower the premium, but guess they only deal with insurers that offer track cover. However, the idea that you wouldn’t be covered if you didn’t use the track days has to be nonsense. You get cover for up to 6, (in think) days, you aren’t forced to use them.
That was the oddity, she clearly said I had to take track cover and use it. In the end I was an exception as an existing customer but it did not feel comfortable. Same price with Reis, no track days but agreed value.
Does that mean your cover is void if you have fire and theft but your car isn’t stolen?
Sounds like the person telling you was a yts doing a weeks work experience
Now who would steal a car that’s on fire, that would be silly, you might get burnt?
I do agree, it’s mad. I had read the same story on another site and thought the same as you. That is why I checked. Anyway, I’m happy as both cars are now with REIS, it keeps my OCD happy.
Yup actuaries are an odd bunch. I reckon the numbers say that people who take trackday cover are actually a lower risk group and therefore a policy is created that targets this group. If you don’t want trackdays you’re not in that group anymore. I can’t see that your insurance would be invalidated if you took a policy that included trackdays, had an accident on day 365 having not actually redeemed any of the on track cover. My Exige policy has trackdays, I may take it on circuit this year, but its more likely I won’t.
Maybe the insurers think trackday regulars are more familiar with their cars capability and how to control it such that on the road they are more ‘in control’ and safer at the helm at the lesser road speeds. Who knows?
Haha my missus was training to be an actuary after uni, it was pretty full on.
They don’t ‘think’ Tim, they just know what their model tells them. If cover with trackdays are cheaper its because there’s a demonstrable correlation between people that attend them and claims.
It’s reminded me to call-off some of my trackday cover for the Exige at Anglesey. Whether the Exige goes on circuit or not is largely academic.
… my new insurance had agreed value which I requested at £35k. I got a message to say the underwriter thought that was too high so needed evidence of my valuation. I suggested they call a Lotus dealer and sent a copy of Evosal’s wanted advert. The response was that my car was probably under valued. You can’t win.
…I think its because of data quality for the actuaries to use. If you have a policy and not making claims, part of the reason is because you are not tracking and therefore not exposing your car to higher risk. By having customers actually use the cover properly, their stats will be accurate for them to determine competitive and also profit making premiums.
CCI quoted me £1.40 more than last year for my cover…
Am told Mannings do unlimited track day cover so will give them a quick bell to see how much they would charge.
