POLICY SUMMARY

These are the key facts that the Financial services Authority (FSA) has asked us to bring to your attention. These are NOT the full terms and conditions. These are detailed in the Policy Wording.

This summary does not form part of your insurance contract.

Name of Insurer:
Your policy is placed 100% at Lloyd's of London with Managing Agency Partners Limited (Syndicate 2791), 1st Floor, 110 Fenchurch Street, London EC3M 5JT.

Type of Insurance and Cover:
This is an accidental damage policy designed to cover your car in the event you have an accident on the circuit or another participant causes damage to your car. Trackday insurance is a limited cover and does not follow all of the conditions of standard motor insurance.

Significant Features and Benefits (what is covered):

• External accident damage (i.e. impact) to the car only whilst engaged in the specified track day activity.
• Fire damage but only if directly following an accident (i.e. impact).
• The costs of repairing the car or, if insurers decide, pay you or the legal owner (should the car be subject to hire purchase or lease) an amount in full settlement. Any amount paid cannot be more than the car's market value at the time of the accident and all claims are subject to an excess/deductible as shown on the Trackday Insurance details. Where the car is insured for the full market value, in the event the claim is settled as a total loss the insurers have the right to decide to keep the salvage. Insurers can choose either of these alternatives.

Significant and Unusual Exclusions / Limitations: 

• Internal damage to the engine or to the gearbox or transmission.
• Mechanical, electrical or computer breakdown, howsoever caused.
• Liability to other participants, to any third parties or to passengers or any property damage.
• Competitive driving, (in other words, whilst racing or on timed runs or trials).
• Consumable items such as tyres, oils, linings etc.
• Extra costs involved in repairing specialised paintwork and logos unless specifically agreed.
• Shipping / Transportation / Recovery costs. (Note: insurance for recovery costs is available as an optional extension. This option is made available when submitting your payment for vehicle damage insurance online).
• Labour costs exceeding £50 per hour (including VAT).
• Damage to the interior of the car caused as a direct result of airbag deployment.
• Loss or damage to the car whilst being driven by any person other than those specified within the Confirmation of Cover document.

Duration of Contract:
Trackday Insurance is provided on a “daily” basis or on a specified number of days. These are short term policies. You can make repeat purchases but policies are never “renewed” in the conventional sense of an annual 12 month policy of insurance.

Review Your Requirements:
We always recommend that you review your personal circumstances periodically to make sure this insurance is still suitable for you.

Cancellation Rights (Cooling Off Period):
Trackday Policies may be cancelled any time after purchase and before the stated inception date of the policy and a FULL refund will be provided. If the trackday is cancelled or you are unable to attend the stated trackday we will refund the premium to you in FULL providing we are notified before the inception date of the policy. The instant you take to the track the insurers consider that the premium is deemed “fully earned” and no refunds or policy cancellations can be accepted.

How to Claim:
Claims notifications should be made on-line within 48 hours of the accident. Click on "Claims" of the MORIS homepage. Please follow the guidelines outlined in "Instructions" or "Procedure".Should you need to speak to someone please call us on 0207 638 0790. Our office hours are Monday – Friday 9.00am to 5.30pm (excluding bank holidays). Further details of claims procedure can be found within your policy and on the “Claims” link on the moris website where the role of a loss adjuster is also explained.

Compensation Scheme:
Lloyd’s insurers are covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the Scheme if a Lloyd’s insurer is unable to meet it’s obligations to you under this contract. If you are entitled to compensation under the Scheme, the level and exten of compensation would depend on the nature of the contract. Further information can be obtained from the Financial Services Compensation Scheme (7th Floor, Lloyd’s Chambers, Portsoken Street, London, E1 8BN) by phone on 02078927300 and on their website at www.fscs.org.uk