PointByPatrol #21985 Build Journal! RIP #9243

[PointByPatrol]

My track insurance experience with Lockton has been nothing but a nightmare so far. I used to recommend this company because the terms seemed fair and the price was great. Here's what has happened so far:

The appraiser calls me and starts the claim two days after I file a claim with the insurance. The next day they have an appraiser go out to the car (Wednesday). The adjuster keeps asking me for the payoff from American Honda Finance, but Honda will not release the payoff amount to me if insurance is paying my lien, and needs the adjuster to reach out to them so that they can square up and get the documentation for the total loss that they need. The adjuster refuses to call them and keeps putting it back on me to get the info. Two days go by, now it's friday, and the adjuster gets the appraisal back and says that the car is worth 48k less my 6k deduct (60k policy) for a total of 42k, which is not enough to pay off the loan. I tell the appraiser that per the policy that I am to be made whole on the performance parts on the car and send him all the receipts. He then says he sent them to the appraiser. I call Honda and get them to attempt a 3 way call with the adjuster, and he never answers. I hang up with Honda and try to call the adjuster and he doesn't answer for me either, so I email him asking when he can take a 3 way call with Honda. He responds 2pm. So I get my ducks in a row and Honda calls him at 2pm, and they speak with me on hold. After they spoke Honda takes me off hold and says he's sending the check for 42k, and I say, "wait, I haven't agreed to the appraised amount, and I've sent him all of the receipts justifying maximum payout of my insurance policy". Honda says, "well you have gap insurance so you can file a gap claim for the difference, but the adjuster isn't going to be able to provide you with any of the documentation that gap is going to need for your claim." Are you serious???? I then try to call the adjuster, and he doesn't pick up so I email him asking if he'll be able to provide the documentation I need for gap. He emails back and says that they don't deal with gap and to have gap call him. I then point out all of the performance parts and copy paste the stipulation for reimbursement in the policy and highlight the amount of parts installed on the car and their value. He never gets back to me....

So as far as I know he's sending a check that doesn't pay off the car, is unwilling to call a lien holder, is unwilling to provide documentation for gap, and is unwilling to communicate a response for my inquiry about my parts in relation to the policy promises.

I then call Lockton and ask them to get involved, and they say, "Once you have an open claim you have to contact the adjuster." THEY DON'T EVEN SUPPORT THE PRODUCT THAT THEY ARE SELLING!

I'll continue to deal with this nightmare, but you guys should steer clear from Lockton Affinity HPDE insurance. They do not advocate for you, and they don't give a crap if the 3rd party tries to shy away from their legal obligations.

I made a call to Hagerty, and explained my situation, and they simply said that we have a team of customer advocates that intervene against the 3rd party insurance should something like this happen, and that they would simply cut me a check for the amount of insurance that I purchased less my deductible.

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[TW00Si]

Nightmare indeed. Thanks for sharing that. I actually pulled up their site a few days again thinking about getting insurance for my track day in May. Now I will check Hagerty instead.

I hope it works out for you somehow. Although at this point just limiting your losses.

I keep checking in here thinking I’m gonna see a picture of the new FL5 in black. I hope that becomes reality soon, for you.

 

[PointByPatrol]

Nightmare indeed. Thanks for sharing that. I actually pulled up their site a few days again thinking about getting insurance for my track day in May. Now I will check Hagerty instead.

I hope it works out for you somehow. Although at this point just limiting your losses.

I keep checking in here thinking I’m gonna see a picture of the new FL5 in black. I hope that becomes reality soon, for you.

I hope so too, but may not if I get hung out to dry on this claim!

 

[JDM_DOHC_SiR]

Man what a friggin' nightmare!! So much gray area that "automatically" shows up once you try and make a claim... this isn't the first time I have heard about shady business practices from this insurance company

 

[Shrapnel]

My track insurance experience with Lockton has been nothing but a nightmare so far. I used to recommend this company because the terms seemed fair and the price was great. Here's what has happened so far:

The appraiser calls me and starts the claim two days after I file a claim with the insurance. The next day they have an appraiser go out to the car (Wednesday). The adjuster keeps asking me for the payoff from American Honda Finance, but Honda will not release the payoff amount to me if insurance is paying my lien, and needs the adjuster to reach out to them so that they can square up and get the documentation for the total loss that they need. The adjuster refuses to call them and keeps putting it back on me to get the info. Two days go by, now it's friday, and the adjuster gets the appraisal back and says that the car is worth 48k less my 6k deduct (60k policy) for a total of 42k, which is not enough to pay off the loan. I tell the appraiser that per the policy that I am to be made whole on the performance parts on the car and send him all the receipts. He then says he sent them to the appraiser. I call Honda and get them to attempt a 3 way call with the adjuster, and he never answers. I hang up with Honda and try to call the adjuster and he doesn't answer for me either, so I email him asking when he can take a 3 way call with Honda. He responds 2pm. So I get my ducks in a row and Honda calls him at 2pm, and they speak with me on hold. After they spoke Honda takes me off hold and says he's sending the check for 42k, and I say, "wait, I haven't agreed to the appraised amount, and I've sent him all of the receipts justifying maximum payout of my insurance policy". Honda says, "well you have gap insurance so you can file a gap claim for the difference, but the adjuster isn't going to be able to provide you with any of the documentation that gap is going to need for your claim." Are you serious???? I then try to call the adjuster, and he doesn't pick up so I email him asking if he'll be able to provide the documentation I need for gap. He emails back and says that they don't deal with gap and to have gap call him. I then point out all of the performance parts and copy paste the stipulation for reimbursement in the policy and highlight the amount of parts installed on the car and their value. He never gets back to me....

So as far as I know he's sending a check that doesn't pay off the car, is unwilling to call a lien holder, is unwilling to provide documentation for gap, and is unwilling to communicate a response for my inquiry about my parts in relation to the policy promises.

I then call Lockton and ask them to get involved, and they say, "Once you have an open claim you have to contact the adjuster." THEY DON'T EVEN SUPPORT THE PRODUCT THAT THEY ARE SELLING!

I'll continue to deal with this nightmare, but you guys should steer clear from Lockton Affinity HPDE insurance. They do not advocate for you, and they don't give a crap if the 3rd party tries to shy away from their legal obligations.

I made a call to Hagerty, and explained my situation, and they simply said that we have a team of customer advocates that intervene against the 3rd party insurance should something like this happen, and that they would simply cut me a check for the amount of insurance that I purchased less my deductible.

Put these people on blast and let the word travel. Your story is all over the FB groups, a lot of people are aware of the crash and would be very interested in hearing how you’ve been wronged here. It may cause enough talk to change things, but also a PSA about Lockton should be spread far and wide. Unprofessional people doing the bare minimum and not upholding their end of the policy. There’s no excuse for this.

 

[PointByPatrol]

Put these people on blast and let the word travel. Your story is all over the FB groups, a lot of people are aware of the crash and would be very interested in hearing how you’ve been wronged here. It may cause enough talk to change things, but also a PSA about Lockton should be spread far and wide. Unprofessional people doing the bare minimum and not upholding their end of the policy. There’s no excuse for this.

I'm going to give them another chance to make this right. Of course I won't hear anything until Monday at the earliest, but based on this so far...I cannot recommend them.

 

[Shrapnel]

I'm going to give them another chance to make this right. Of course I won't hear anything until Monday at the earliest, but based on this so far...I cannot recommend them.

I‘m sorry Ben, it’s frustrating enough as an outsider, can’t imagine how it is for you. I hope they honor their policy. Doesn’t seem like that much to ask! Hang in there.

 

[TW00Si]

I'm going to give them another chance to make this right. Of course I won't hear anything until Monday at the earliest, but based on this so far...I cannot recommend them.

I agree with the others. Just drop a hint that you are sharing your track experience on social media. Including this claim because you were recommending their service prior and won’t if it continues this way. I mean I was about to buy insurance through them till now.

 

[PointByPatrol]

I agree with the others. Just drop a hint that you are sharing your track experience on social media. Including this claim because you were recommending their service prior and won’t if it continues this way. I mean I was about to buy insurance through them till now.

I explained the part about recommending them when I called Lockton today. Also explained that this was a very near death experience, and that I needed their help...He returned the favor again by saying, "If you have an open claim you'll need to speak with your (third party) adjuster."

 

[TW00Si]

Tell them if you’re not made whole, you will send you experience to VIR and your local track organizer so no one will buy insurance from them.

 

[Clark_Kent]

I'm very disappointed in what I'm reading thus far. Let's not write the book before the story ends. See how this unfolds next week and go from there. You already stated you're willing to do that, so good on you.

If you have satisfied the responsibilities of the policyholder and they are shirking their responsibility as the insurer, I would skip the "naming and shaming" and I would contact my attorney. If you're well within your rights to collect a larger sum of money than they're offering, do not let them get away with this. When people are in the wrong they tend to fix up when you move toward litigation.

 

[CTR]

This has always been my fear with tracking a car that I owe money on. I would be at the mercy of the insurance company/actual owner of the car to get things sorted.

I know everyone says to "just get track insurance" but I've always been skeptical about how well it really works for the low cost they advertise. I appreciate you being transparent and sharing your experience so far so we can see how this all plays out. I was really bummed to see this happen and hope it gets sorted out quickly.

Side note: I would imagine Honda or any other bank has a carve out where gap insurance doesn't apply on a race track.

 

[RacingIsLife]

Unreal hope things go your way Ben, keep us posted. Damn I was going to buy Lockton insurance for my April events too.. Second guessing that big time now.

 

[ExiledLakai]

Reading through that I could imagine a world where the 42K is sent to Honda - gap covers "the gap" and then Lockton sends the rest after effectively gaming the system and getting you the gap on top of the policy. An overly optimistic viewpoint I know but here's to manifesting it into existence for you.

 

[PointByPatrol]

Just got the final word from track insurance. They will be paying out the maximum less my deductible, of course. They've sent payment to Honda, and I'll be responsible for mailing them the title when it arrives! Still a shit experience, but at least it's coming to an end.

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