Figures, numbers, and data are at the heart of our business. Our team of actuaries and underwriters constantly use them to analyse financial risks and determine track day insurance prices. But it doesn't have to be all doom and gloom. Recently, we took a little time to simply play about with our data and tell a story with it. This is the result!
Men don't just admire testosterone-fuelled track beasts; they also love to drive them. A lot of men feel like there is nothing better than being behind the wheel of a car. The feeling of power, the sensation of freedom, the thrill of being in control – driving is a truly exhilarating experience. Most men love driving because it provides an escape – a way to decompress and recharge their batteries. They create a bond with their cars over the miles and the vehicles end up holding a special place in their hearts. Men love their cars and will go to great lengths to keep them safe while testing their limits on a racetrack.
Like most stereotypes, the blanket assumption that millennials have fallen out of love with cars is wrong. The truth is millennials love their cars just as much as anyone else since they do their best to protect their pride and joy while on track .In 2019, Gen Xers purchased the largest number of track day insurance policies,accounting for 40% of our customers and contributed to almost half of our revenue. They were closely followed by Millennials which represented 39% of our customers.
Car cover, bike cover – we've got them both. MORIS.co.uk provides track day insurance for two-wheel and four-wheel enthusiasts, but our products are significantly more popular among petrolheads who are into cars rather than bikes. In 2019, over 90% of our customers purchased a car track day insurance policy, while only 9.5% purchased bike track day cover.
There are many brilliant and challenging motor racing circuits out there, but have you ever wondered which ones do our customers prefer to drive on?
In 2019, 10.8% of our customers ventured to the iconic Silverstone Circuit located in the village of Silverstone in England. A legendary circuit in the realm of motorsport, Silverstone is a "must drive" for all self-respecting petrolheads.
The infamous Nürburgring Nordschleife, dubbed "The Green Hell", came a close second, with 10% of our customers lapping it in 2019.
Bedford Aerodrome, which is one of the safest track day venues in the UK, was the third most visited circuit by our track day policyholders.
In 2019, the car brand of choice for 18.3% of our customers was BMW.BMWs are
ultimate driving machines and definitely great fun to drive around a track.
Porsches were also highly popular amongst our customers in 2019, with 15.4% of them driving the German brand. Most Porsche cars are brilliant to drive around a racetrack at breakneck speed, so we can't say we were surprised!
Ford is a company with a strong motorsport pedigree, so there is no wonder that 7.1% of our customers chose to drive a Ford on track in the previous year.
The cost of track day insurance varies significantly from one policy to the other. Generally speaking, the cost of track day insurance for a single day can range anywhere from £63 to a few hundred pounds, depending on the market value of the vehicle, the driver's age and how dangerous the circuit is.
Track day insurance doesn't have to be expensive. Here are a few simple tricks to lower your track day insurance costs.
This is a great way to save money on track day cover! With MORIS.co.uk, you can choose to insure up to 10 track days under one policy even if you don't know the dates or circuits yet. By choosing this option, you can end up saving up to 50% on your track day insurance policy.
In many cases, the higher the excess (amount of any claim the policyholder has to pay) the lower the premium. This can help you reduce your track day insurance costs as long as you don't crash!
If you are part of a car club or a group of five or more friends attending the same track day and you all want to purchase cover for the event, you should definitely ask about group discounts.