This, second blog in our Track Day Novice series will focus on insurance.
Given the significant investment (emotional and financial) in your Porsche, it’s a safe bet you have it comprehensively insured. However, standard insurance policies explicitly exclude track use (timed or otherwise) from coverage. For some reason insurers get twitchy about race tracks…
Having said that, some of the major insurers have enthusiast-specific sub-brands, which may cover track days. We have friends who are with Swann Insurance, who specialise in classic, and modern classic vehicles, and offer a track day extension. We`re also aware that Classic Cover also have a track day extension available for their members.
Personally, we`re with Star Insurance for our vehicles, who provide cover for their members for track days, the Targa Tour (watch for a future blog post on this) and Highlands / Hampton Down`s GT Club members, and is a sponsor of the Porsche Club of New Zealand.
This sponsorship means that drivers undertaking Driver Training with PCNZ, or participating in PCNZ organised track days pay no premium for cover for these events.
The cost of insurance will obviously depend on the value of your vehicle, the nature and duration of the track driving, and your relevant driving experience. Many insurers will require you to either have attended recognised driver training (such as the PCNZ Driver Training Days), or previous track / motorsport experience before covering you – check with your insurer.
Your excess is based upon the track conditions (well at least with Star), with a sliding scale depending on whether the track is Dry, Damp, Wet, or Saturated. Should the track be Saturated, then you`re on your own; the conditions are so bad that you have no insurance cover (and you should probably just wait out the weather in any case). Otherwise you`re looking at $5k, $10k, and a minimum of $15k excess respectively. (Strong motivation to stay away from those walls)
If this hasn`t scared you off, the actual process of getting track day cover is pretty easy. You`ll need to apply with a reasonable amount of notice, and complete the relevant forms and pay the premium (if app0licable).
Then it`s a case of ensuring you comply with the requirements on the day. Most providers are well versed in the insurers requirements, and will cover these off specifically in the drivers briefing. Basically, you need to leave PSM on, ensure your Porsche is up to WOF standard and has treaded road-legal tyres (no slicks), and follow the directions of the track day management.
It sounds scary, and it`s natural to have some nerves before taking your pride and joy on the track for an absolute rinsing, but insurance is a fact of life, and provides some reassurance in the back of your mind as you dive towards the 100m marker on Ruapuna`s first corner at 200km/hr plus.
Note: while our Porsche`s are insured with Star Insurance, and they are a Porsche Club of New Zealand sponsor, our recommendation of them is purely on a personal level.