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Hagerty now not offering track day cover...

kasbridge

PCGB Member
Member
All,
As per title, checked today and change of underwriting rules means no more track cover from Hagerty come your renewal....

Pointers for alternative providers please - not too happy about this as only changed from AON last year for the very same reason!!!

Cheers,
Kevin
 
This must be a very recent change Kevin as renewed my policy with them a week ago and asked for a quote for a couple of days at Spa which they were more than happy to give.

Very concerning. Let us know who you end up going with.

Cheers.
 
This explains a lot of the problems I had with them when mine came up for renewal. They said they couldn't offer renewal because I wanted too many miles (I like to have up to 5,000 and they said 3,000 was the new max). Yet others insuring with them had no such problems getting 5,000 miles! My suspicion is that the five days of extra trackday cover I took out last year had more to do with the reason. So, I re-insured with Classicline this year - free trackday cover for PCGB days and one off payments (about £50) for days run by established TD organizers.
 
Interesting ! I'm still with 'Aon' though not sure if they are really someone else now . The acid test was getting 3 days of cover at Spa (PCF days 15-16-17 April) . Initially they said no when I phoned a week before the event ! I pointed out that I had been doing this event the previous 2 years. They said they would phone me back after a discussion with the underwriters ( its an RSA policy) . They did and said 'OK' . No extra payment . Renewal is in June........[8|]
 
keen to follow this one (might even ring Hegarty), I got cover for Spa through them and need cover for silverstone in a few weeks.
 
The alternative is to go for the lowest rate for road cover and self insure ?

Think about it ...

The conversion from actual risk to cost is 35%, so in theory of the remaining percentage, half is administration and the balance is profit.

So, if your excess is 10% of the value of the car, think about how much damage you would need to do before the insurer would start to contribute to the cost ?

Alternatively, buy a GAS car and a total write-off will cost less than the excess on a really nice car ....

Now that we are competent, do we need to "GAS" ? [;)]

 
ORIGINAL: Mark Bennett

Another option is Manning who include track cover

It'll be interesting to see what Manning say, as their policies are underwritten by Allianz, who AFAIK are also Hagerty's underwriters.
 
Spoke to Hagerty a couple of weeks ago to arrange cover for a day at Bedford and discussed their new lower mileage limit. They confirmed it is 3,000 miles for any car newer than 1990. The reason cited was that the policy is designed for occassional use "high days and holidays" cars and that some people had been using the more modern cars as "regular use" vehicles and notching up some big mileage. 1990 seemed a pretty arbitrary date, and suggested that an '89 car would not be subject to the same restrictions, but they said that they would consider earlier cars on a car-by-car basis and it is likely that any Porsche, regardless of age (more or less) would be subject to the 3,000 mile limit.
However, they didn't mention that they were planning to drop track-day cover funnily enough. I'm due for renewal in July and whilst I can cope with the mileage reduction, if they drop the track cover they will lose my business. A shame as they have been a very nice company to deal with over the past few years. Whilst us group of Porsche owning and track day driving folk may not be material to their overall business it seems a mistake to withdraw from this market. If they are not making money on it perhaps they haven't got the pricing structure right ?

Jamie
 
Jamie,
I believe that Allianz (the underwriters) have withdrawn cover for track days and it is therefore beyond Hagerty's direct control....
Cheers,
Kevin.
 
Thanks Kevin, that does tend to be the way - I suppose an insurer will want to write business if they can get it underwritten ........ Do we know which other insurers are underwritten by Allianz ?

Jamie
 
I'm surprised that Allianz have withdrawn to be honest. From memory, the rate that was charged was about 0.1% with a 10% excess which seemed reasonable ( for them ). They must have got caught in some clash scenario between insureds on a circuit or something because you would think that offering the cover was a good differentiator - look at the responses here.
 
All,
Update;

Just renewed with Manning for less than £450 to include unlimited track use, 3000 miles per annum at £55k agreed value.

Good result as far as I can see......and their underwriters are Allianz!

Cheers,
Kevin

PS is £55k about right for the yellow peril? as a reminder 97k km pretty much mint original panel car.

 
Hmmmm,
Very interesting, I think I know who I'll be calling at renewal time ! As to agreed value, I suspect you might be a bit on the low side ? Would you be able to replace like for like at that amount ? I doubt it ...........

Jamie
 
I called Hagerty this morning to see if they'd cover a GT3 under my existing policy, they said they would but I should be aware that they'll be dropping track day cover at renewal time.
 
ORIGINAL: Talat

I called Hagerty this morning to see if they'd cover a GT3 under my existing policy, they said they would but I should be aware that they'll be dropping track day cover at renewal time.

Does this mean you're defecting? [&o]
 
ORIGINAL: Steve Brookes

ORIGINAL: Talat

I called Hagerty this morning to see if they'd cover a GT3 under my existing policy, they said they would but I should be aware that they'll be dropping track day cover at renewal time.

Does this mean you're defecting? [&o]

Nope, will be keeping the 964 - just looking at getting something more track focused.
 

ORIGINAL: Talat

I called Hagerty this morning to see if they'd cover a GT3 under my existing policy, they said they would but I should be aware that they'll be dropping track day cover at renewal time.

They are gonna lose another fairly hefty policy with me then....
 
Just had my renewal through.

No track days[&o]

Looks like I need to be on the phone next week.

Need off road cover for the 964RSR, road and track cover for the 73RSR rep and same for the 64RS rep.

The good thing about Hagerty was they never cared less about modifications and agreed value was a doddle.

Hmmmmmm[&o][&o][&o]
 

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