5 Common Mistakes in Insurance for Grand Tourer YesEnsure

5 Common Mistakes in Insurance for Grand Tourer

The following 5 mistakes are the most common that I have seen in insurance for gtourers. If you can avoid or fix them, you will save a lot of money, if not time and stress!

1. The SCCA Solo Rule

The SCCA Solo rule states that an auto-crosser must have one “competed event” before they can be insured for on-track use. This rule is frequently applied to insurance companies incorrectly, even though it was never intended to apply to on-track use.

If the auto-crosser has not had one competed event, you are not required by SCCA rules to have this rule on your policy, so talk to the agent/manager about their validity for on-track use. If they are still not ready, see #5 below!

2. Term of Usage

Always get term rather than pay-as-you go insurance. There is no reason to ever buy “pay-as-you go” insurance for an auto-crosser. Term insurance is still much cheaper than “pay-as-you go” and you can buy it for any time period.

You should never have to pay more than $250 per event (practice, lapping days) and most often much less! Your agent/manager will not want to commit to term without asking a lot of questions about usage, but you can save thousands of dollars by getting this right.

3. Not Using the Auto-Crosser for “Street” Driving

Insurance companies love to see that an auto-crosser is used as a street car (daily driver) because it should make the vehicle less risky to insure. If they are not used as daily drivers, it is harder to argue this point. Use your auto-crosser on the street when possible!

4. “Track” Use Only

Insurance companies will never allow use as a daily driver if you state that the vehicle is only driven on the track/autocross course. If you have not been able to take it on the street yet, state that it is a “winter auto-crosser”.

5. Money Belt?

Many people have the idea that they need to have a money belt if they are going to take their vehicle on track or autocross course. This is not true! You can (and should) get liability-only insurance which covers track/autocross usage. That is all that you need! Remember, the SCCA only allows $1000 personal liability per incident on track and $500 per incident at an autocross.

What insurance coverage do I need for a gtourer?

You need liability insurance. It also can be useful to have comprehensive insurance for certain vehicles, but it is not required. Make sure you get Term insurance rather than pay-as-you-go insurance!

Do I need insurance for an unfinished project?

No insurance company will insure any vehicle that is not complete. Unfortunately, this includes projects! This means that you can’t even drive it to the track. You should always get insurance before you start working on your gtourer. If you are worried about insurance costs, then you can get insurance on the completed vehicle so that you can drive it to the track/autocross.

I just bought a gtourer, what insurance should I get?

Since insurance companies do not care about the model year, you can get insurance as soon as you buy your vehicle. If you plan on using it only for track use and want to prove this to your insurance company, make sure that it is running and insured before doing any non-street driving.

I want insurance for a gtourer that is not on my insurance company’s pre-approved list – what should I do?

If you would like insurance for a vehicle that is not on your insurance company’s pre-approved list, then you need to talk to the insurance company directly. Let them know that you intend to use the vehicle on the track (or autocross) and explain why term insurance is cheaper than “pay-per-use” insurance. They will most likely decline your request, but they should let you buy insurance on a risk basis if you can prove that you use it for this purpose.

What is the cheapest insurance for a gtourer?

The cheapest insurance is the insurance that you don’t need. Get term insurance rather than “pay-per-use” insurance. If you can prove that you use your vehicle on the track, then tell your agent/manager that it will be used for this purpose and ask them to put it on term insurance. If they won’t.

After All Is Said And Done

We hope you enjoyed this article and we’d love to hear your thoughts. What do you think of these common mistakes in insurance for GTs? Comment below or share on social media!

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