Insurance companies forced to cover track day damages?

[evomike]

in the us and i cant see it being that different you just need to have a good story

[7thgear]

Originally Posted by evomike

in the us and i cant see it being that different you just need to have a good story

well now, i guess you're right, nothing different up here in the cold, 52nd state.

[evomike]

i looked it up and you can do it without a police report, the only time its good to get a report if its multiple vehicles so someone cant blatantly lie.

[7thgear]

if i roll my car, and call my insurance company, they're just going to swallow it that i rolled my car on regular streets (somehow), crawled out, called a tow truck, and towed it home nilly willy with no witnesses?

and they wont have anyone come take a look at it or ask more questions.. like "how did you do it?"

[stugray]

"Ok sir let me get this straight... Your car was fine when you went into walmart, and when you came out, your car had one whole side smashed in by ..... looks like a tire wall, all four of your tires were flat spotted, and someone jammed a bunch of weeds up under your air dam......?" "Ok, let me get going on that paperwork!"

[evomike]

when you call the claim in they will ask what happened you can tell them you rolled it and had someone tow it to your home or shop, an adjuster will be assigned to it and look at it and say yup it was rolled and write you an appraisal. denying a loss gets tricky they have to be able to prove without question that what you say did not happen. as long as your story makes sense you will be good, think about it people crash their cars all the time get it home then call a claim in its nothing different.

[7thgear]

guess i've watched The Rainmaker too many times

time to practice those story-making skillz

[evomike]

plus everyone is nice in canada there is no way they'll think you are lying

[mashal]

Originally Posted by evomike

plus everyone is nice in canada there is no way they'll think you are lying

Touché

[robwbright]

If you're talking HPDE, Why not just do this and not worry about it?

http://www.ontrackinsurance.com/quick-quote.aspx

If you're a club member, the estimate when I ran it is $170 for two consecutive days for $25,000.00 coverage.

That's a lot cheaper in time and money than filing a lawsuit.

[7thgear]

Originally Posted by robwbright

If you're talking HPDE, Why not just do this and not worry about it?

because...

https://maps.google.ca/maps?q=canada...Canada&t=m&z=3




our track day insurance industry is in its infancy, there are some things currently in the works but nothing big yet.

[robwbright]

Originally Posted by 7thgear

because...

https://maps.google.ca/maps?q=canada...Canada&t=m&z=3




our track day insurance industry is in its infancy, there are some things currently in the works but nothing big yet.

Good point.

Maybe you did already... but I'd check with them and see if they'd consider extending into Canada.

[wparsons]

Originally Posted by automatic

Regular insurance companies (at least in Ontario) cannot arbitrarily come up with reasons to deny you insurance, or deny you for whatever reason they want. They can only deny you insurance if you fall into the denial rules approved by FSCO.

They don't have to deny you, but there's no laws enforcing how they price things for you. Plus, writing off a car on a track will definitely allow them to deny you coverage.

Originally Posted by evomike

plus everyone is nice in canada there is no way they'll think you are lying

You should really research insurance fraud rates in Ontario, especially in parts of the GTA. It's beyond ridiculously high, and companies aren't stupid at all. Companies here can (and will) drop coverage after an accident if you've lied about modifications, etc.

[automatic]

Originally Posted by wparsons

They don't have to deny you, but there's no laws enforcing how they price things for you. Plus, writing off a car on a track will definitely allow them to deny you coverage.

Insurance companies also have to submit how they're going to price out the rates to FSCO. FSCO will take a look at several factors (including estimated profitability), and either approve or deny the submission. Premium pricing is governed so insurance companies can't price premiums however they feel like...whether it is fair or not after all is said and done is a different story....

But aside from that, I would agree that someone would have a very tough time getting coverage after writing a car off on the track.

PS. My line of work is indirectly involved with insurance, insurance product configuration, and insurance product rating.