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Old 09-12-2013, 11:32 AM   #46
hockeyfan27
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Quote:
Originally Posted by dcramer View Post
So after a month we finally agreed on a number.

Here's what I know now
1) If you don't have a broker get one. Mine was invaluable.
2) As long as you aren't racing you are covered everywhere, including the track.
3) They can't dump you because you were on the track. Two or more at faults in one year is cause, but they have to have cause.
I've been under a rock for the past few months. This was a very interesting read. Thanks for sharing it!

I can't argue with point#1 but It's worth mentioning that every insurance company has their own rules and will deal with situations like this very differently.

Your second & third points may be entirely accurate for the company you are with but I would strongly caution anyone from assuming this is the industry wide rule. For others reading this, don't assume your company will be ok with track use. Call and get the OK in writing.

I know of a few companies that will dump you the INSTANT you say: "track", regardless of use; education, lapping, racing.
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Old 09-12-2013, 11:48 AM   #47
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Well I'm pretty sure if this particular company thought FISCO would let them get out of the claim they would have.

According to my broker the rules are made by the gov't. Insurance companies can't just write up a document and have you sign it unless it is an approved document. While they can refuse to write your policy if you mention track, they cannot cancel your policy without cause.
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Old 09-12-2013, 01:18 PM   #48
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There are rules every insurance company has to abide by but with respect to what 'risks" they will write and the reasons for cancellation and non-renewal, they determine their own. they then file the rules with FSCO and are bound by them.

A few companies have decided that they will not insure cars older then 15 years. That is not a FSCO rule. It is an 'appetite' decision arbitrarily made by the insurance company. If their client buys a car that is 17 years old to replace a previous car, they'll get a registered letter of cancellation for being "outside of their underwriting rules".

Some policy wordings specifically address track use. some may not. Sounds like your broker did right by you; always nice to hear!
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Old 09-12-2013, 01:28 PM   #49
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This http://www.canlii.org/en/on/onca/doc...11onca313.html is of interest. For point 2 above
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