Car owners must know when and where they are covered, and the limitations of their insurance, to ensure they stay insured. Owners of specialised cars, vintage cars, and supercars often run into the roadblock of struggling to understand the limits of their cover, having to go through their insurance documents with a fine-tooth comb, only to discover they are not as insured as they might like.
Drivers should know that standard car insurance will not cover track days or speed trials. Most car insurers put a blanket exclusion on all car events. However, drivers under Romero Private Clients are fully informed of their cover terms and will be able to attend a plethora of car events.
How to know if I am insured?
All drivers should have been given policy documents when they bought their insurance. These documents will contain all of the information about your cover, including where you are covered and the exceptions of your insurance.
Private clients of an insurance broker are able to call their broker who will inform them about their cover.
Alternatively, drivers can call us at Romero Insurance Brokers, we have relationships with all the major insurers and will be able to instruct you on your cover details.
Am I insured for organised car events?
The answer is situational as it depends upon the event type.
All standard car insurers (we have not yet see one that doesn’t) each include an exception within their policy details stating they do not cover racing or track days. These are writ under Driving in unusual locations which includes racecourses, rally courses, airports and organised motorsports. They will also provide exceptions against driving on any toll road without a speed limit, such as the Nürburgring. This heavily limits the experience of supercar, vintage and modified car owners.
Car insurance insurers are typically strict on where and how your car can be driven. Yet, with Romero Insurance Brokers, we have seen the desire for our clients to partake in car rallies and therefore have partnered with an insurer offering more-favourable cover terms.
Our insurer doesn’t reside to a blanket exception of all organised car events. Instead, their cover details include mention of non-competitive events, allowing us to look at events on a case-by-case basis. If an event is deemed non-competitive, or safe, as to not put a rigorous toll on the vehicle, then the driver will remain fully insured. There is even the possibility of participating in track days, but only upon referral with our insurer.
*Romero Private Clients is able to provide trackday insurance upon referral. Contact us for more details
Romero Insurance Broker's insurer offers so much more for supercar owners than the standard insurer.
Below we’ve briefly laid out the exceptions to our cover with our specialised insurer, lifted straight from their policy documents:
Exceptions of your insurance –
Any loss or damage arising while any vehicle covered by this insurance is being:
- Used in or on a restricted area.
- Used for a purpose for which your vehicle is not insured.
- Driven by or is in the charge of anyone (including you) who is not mentioned on the certificate of motor insurance as a person entitled to drive or who is excluded by an endorsement.
- Driven by or is in the charge of anyone (including you) who is disqualified from driving, does not hold a valid driving licence in line with current law or has never held a licence to drive your vehicle, does not keep to the conditions of their driving licence or is prevented by law from having a licence (unless they do not need a licence by law).
- Used on any race track, race circuit or toll road without a speed limit (such as the Nürburgring).
- Used for racing or pace-making, used in any contest (apart from treasure hunts, road safety and non-competitive rallies) or speed trial or is involved in any rigorous reliability testing.
These exceptions show the limits of your cover, and are scrutinised by our handlers and claims team. At Romero Private Clients, we ensure each of our clients knows and understands the exceptions listed in their cover.
Why should high net worth clients get their car insurance with Romero Insurance Brokers?
We asked Jeff Gibson, Romero Private Clients Account Executive:
– “Simply because we offer the best cover for your needs. We tailor all our policies to our client depending on what their lifestyle and assets require. I talk to my clients, over the phone or in person, and ask them what they might like to get up to in their supercar or sports car, and then I find the cover that best suits them. Often they are looking for cover for rallies, shows and other non-competitive car events; well we maintain a relationship with an exclusive insurer allowing us to provide cover for most, if not all, non-competitive motor events.”
“When it comes to whether you are covered for an event; it’s situational. We analyse each event in nature, and I will argue on your behalf as to whether the terms of the cover permit you to be insured. The terms will cover many different organised events – even track days upon referral with us – however there are exceptions. All clients should contact us at Romero Private Clients before partaking in an event of any nature.”
“Equally, drivers and car owners not insured by us, who wish to be better insured and attend a non-competitive event, should also contact us at Romero Private Clients. With enough time, we will be able to place you on new, more tailored, terms which may allow you to be insured for your desired event.”
“High net worth individuals should consider switching to Romero Private Clients and benefiting from a dedicated Account Executive, and if you’re lucky enough, you may even get me. Jokes aside, our team at Romeros are brilliant, and we offer 24 hour claims support, utilising Romero Insurance Brokers’ award winning claims team. Call or email me and let’s have a chat about your insurance.”