Having contact Gary (Gazhyde) before posting this I know it is not a new topic for Silverstone. There were some heated discussions on the topic of insurance before previous events and they can be found in the archive. So, if you already know about insurance for the Silverstone Parade Lap read no further, however if, like me you are not sure you may find my recent experience of interest.
Tickets for Silverstone arrived a few days ago. With them is the “Signing on” sheet for the Track Parade. Item 3 on this sheet refers to insurance, so I checked my insurance. The insurance certificate excludes “Use for any business purposes, commercial travelling, hiring, carrying passengers for reward, racing or speed testing, track days, rallies or 4 x 4 off road events”. OK it is not any of those so I’m covered…. or so I thought.
Being cautious when it comes to insurance (slippery as eels comes to mind) I contacted my insurer (BMW Car Insurance, which is underwritten by Allianz), to confirm I was correct. WRONG. The underwriters class a Parade lap on a Race Circuit as a “Motor Event”. OK so that’s not excluded…. well actually it is. The policy under general exclusions includes the words “or whilst being driven on a motor sport circuit”. The certificate wording is different!
Easily solved; I need to change my insurance cover. First place I turned to was the forum and I gave Chris Knott Insurance a call. They immediately were able to tell me that any policy they could offer would also exclude use on the parade lap and suggested I look at “Trackday” cover. Prices ranged from £75 upwards for a day, so I ruled that out.
After a few phone calls I ended up talking to A.Manning Insurance because their Classic policy includes Trackday cover. Yes cover for full blown trackdays is included; unfortunately they could not cover the Silverstone Parade lap! Apparently a couple of years ago during an event at Spa there was a serious accident on a parade lap. A rare Ferrari and Aston Martin were involved and the repair bill came to over £1 million, so they now exclude parade laps.
So I phoned BMWCC and had a long chat with David Frith, the Chairman, who also was quite surprised at my story and the responses I had had from insurers. He suggested I contact Longton UK who the club have been doing some work with recently. Yes they could offer cover, their Classic car policy includes Trackday cover, excludes liability cover, but would cover use on the Parade lap. Question – “excludes liability cover?” David at Longton (not Frith) explained it in simple terms for me. Basically if there is an accident I claim for damage to my car on my insurance and the other driver(s) claim for damage to their car on their insurance. There is no claiming from the other person even if, they drive into you. Apparently this is how Trackday insurance works; each person insures there own car. Incidentally excesses are increased compared to standard road use.
Next a search on Pistonheads turned up Classicline Insurance. Similar to Longton their Classic car policy can include Trackday cover, however, each event is dealt with by referral and a separate endorsement is issued (normally at no additional charge) providing that the event meets certain criterion. Silverstone Parade lap would be covered. Best news from me is the price is almost the same as BMW charged, but I get full UK and European breakdown cover included.
So, BMW insurance being cancelled, Classicline with relevant endorsement is being arranged, and insurance for the Parade lap will be sorted.