Your OpenTrack policy is not intended to cover competition events. By agreeing to the below disclosures and paying the associated premium for your coverage, you are advising theOpenTrack, LLC to bind your coverage and charge your credit card.
This agreement is provided as surplus lines coverage under the Nonadmitted Insurance Act. Evanston Insurance Company is rated "A Excellent" by A.M. Best. Evanston Insurance Company is an approved, non-admitted carrier and is not licensed by nor under the supervision of the state department of insurance. If an approved, non-admitted carrier is found insolvent, the State Insurance Guaranty Fund will not respond.
This agreement is provided as surplus lines coverage under the Non-admitted Insurance Act. Lloyd’s of London and Convex Insurance UK Limited are rated "A Excellent" by A.M. Best. Lloyd’s of London and Convex Insurance UK Limited are approved, non-admitted carriers and are not licensed by nor under the supervision of the state department of insurance. If an approved, non-admitted carrier is found insolvent, the State Insurance Guaranty Fund will not respond.
Client acknowledges theOpenTrack, LLC receives commission from the insurer for the sale of insurance to you. This charge is not part of any premium paid to any carrier and is non-refundable in the event of cancellation.theOpenTrack, LLC, as the insurance agent and administrator for this program, will receive certain compensation, including standard commission, from an insurer, intermediary or other third party as a result of the sale of insurance to you. Additionally, theOpenTrack, LLC , for its work in the role as administrator, may charge a program administration fee which compensates them for services performed, and related costs incurred, for the program participants. This charge is not part of any premium paid to any carrier and is non-refundable in the event of cancellation. All premiums are taxable. By agreeing to pay the quoted premium and directing theOpenTrack, LLC to bind coverage on your behalf, you also consent and agree to receive your insurance policy/coverage documents in an electronic format. theOpenTrack, LLC cannot guarantee or make any representations regarding the financial condition of Lloyd’s of London or Convex Insurance UK Limited.
Any person who knowingly has intent to defraud any insurance company, files an application for insurance containing any false information or purposely misleading information commits a fraudulent insurance act which subjects the person to criminal and civil penalties.
You are hereby notified under the Terrorism Risk Insurance Act, you have a right to purchase insurance coverage for losses resulting from acts of terrorism. As defined in Section 102(1) of the Act: The term “act of terrorism” means any act or acts that are certified by the Secretary of the Treasury—in consultation with the Secretary of Homeland Security, and the Attorney General of the United States—to be an act of terrorism; to be a violent act or an act that is dangerous to human life, property, or infrastructure; to have resulted in damage within the United States, or outside the United States in the case of certain air carriers or vessels or the premises of a United States mission; and to have been committed by an individual or individuals as part of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion.
OpenTrack’s Annual policies are fully earned at inception. Midterm cancellations will not result in prorated refunds.
On Demand Policies
OpenTrack’s On Demand policies are non-refundable- however, may be moved to a different date. This must be done prior to 12:01 am on the day of policy inception. You can move your policy to another date (up to 30 days out from your policy’s current effective date) by logging into your account and selecting “Request Change” from your policy page. If your event was cancelled the morning of, you can request to have your policy moved to a different date by emailing a letter from the event organizer showing the event never took place to firstname.lastname@example.org.
For Annual Policies:
When purchasing an Annual policy, you may choose to pay-in-full at the time of checkout or select a monthly payment option. If you select to pay monthly, you are still committing to pay the full annual premium, taxes and fees as presented during the purchase process.
If you select the monthly payment option, you will pay first and last months installment at the time of checkout, with 10 subsequent preauthorized payments to be automatically withdrawn from the Bank or Credit Card company provided at the time of original purchase, each month for 10 consecutive months, on the same day of the month as the original payment. No payment is made in the 12th month of the policy.
Should any pre authorized payment not be honored by the on-file Bank or Credit Card Company, a Failed Payment Alert email will be sent within 24 hours of original failed payment due date and an updated form of payment will be required; non-pay policies will result in policy cancellation 20 days thereafter.
If no successful payment is made by the cancellation date, and the policy(s) cancels for nonpayment, the following will take immediate effect on your account: 1) you will no longer be eligible for the monthly payment option if you attempt to purchase an annual policy(s); 2) you will no longer be eligible to purchase daily policies from OpenTrack.
OpenTrack reserves the right to refuse coverage altogether for individuals whose policy(s) cancelled for nonpayment.
Post Claim Rules
If you have a claim with OpenTrack, moving forward you will be subject to minimum vehicle deductible of 15% and a 20% surcharge to base premium for 24 months. If you have a second claim with OpenTrack, you will no longer be eligible for coverage.
333 Washington Ave N #300-9003
Minneapolis MN 55401
Fraud Warning: It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties include imprisonment, fines, and denial of insurance benefits. Please see state specific fraud language below:
Any person who knowingly (or willfully)* presents a false or fraudulent claim for payment of a loss or benefit or knowingly (or willfully)* presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison. *Applies in MD Only.
It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial of insurance, and civil damages. Any insurance company or agent of an insurance company who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant for the purpose of defrauding or attempting to defraud the policyholder or claimant with regard to a settlement or award payable from insurance proceeds shall be reported to the Colorado Division of Insurance within the Department of Regulatory Agencies.
Any person who knowingly and with intent to injure, defraud, or deceive any insurer files a statement of claim or an application containing any false, incomplete, or misleading information is guilty of a felony (of the third degree)*. *Applies in FL Only.
Any person who, knowingly and with intent to defraud, presents, causes to be presented or prepares with knowledge or belief that it will be presented to or by an insurer, purported insurer, broker or any agent thereof, any written statement as part of, or in support of, an application for the issuance of, or the rating of an insurance policy for personal or commercial insurance, or a claim for payment or other benefit pursuant to an insurance policy for commercial or personal insurance which such person knows to contain materially false information concerning any fact material thereto; or conceals, for the purpose of misleading, information concerning any fact material thereto commits a fraudulent insurance act.
Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false information or conceals for the purpose of misleading, information concerning any fact material thereto commits a fraudulent insurance act, which is a crime and subjects such person to criminal and civil penalties (not to exceed five thousand dollars and the stated value of the claim for each such violation)*. *Applies in NY Only.
It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties (may)* include imprisonment, fines and denial of insurance benefits. *Applies in ME Only.
Any person who includes any false or misleading information on an application for an insurance policy is subject to criminal and civil penalties.
Any person who knowingly and with intent to defraud or solicit another to defraud the insurer by submitting an application containing a false statement as to any material fact may be violating state law.
Any person who knowingly and with the intention of defrauding presents false information in an insurance application, or presents, helps, or causes the presentation of a fraudulent claim for the payment of a loss or any other benefit, or presents more than one claim for the same damage or loss, shall incur a felony and, upon conviction, shall be sanctioned for each violation by a fine of not less than five thousand dollars ($5,000) and not more than ten thousand dollars ($10,000), or a fixed term of imprisonment for three (3) years, or both penalties. Should aggravating circumstances [be] present, the penalty thus established may be increased to a maximum of five (5) years, if extenuating circumstances are present, it may be reduced to a minimum of two (2) years.
2019 Source: ACORD 125/88 Forms
Markel Corporation affiliated insurance companies along with its underwriting and service manager, Markel Service Incorporated, known collectively as “Company,” is providing You with the opportunity to receive electronic delivery of any available insurance related documents, notices, billing and policies relating to coverage You now have, may apply for or may later have. For the purposes of this Consent, “You or Your” shall mean the Named Insured, Prospective Named Insured, Customer or Client and refers to the person, legal entity or authorized representative of the Named Insured. Insurance Producers authorized by You, must be licensed and appointed by the Company to complete this form on Your behalf. The purpose of this consent is to ensure that You are fully aware of the consequences of agreeing to receive and sign documents electronically. “Electronic documents” include all electronic documents we may send to You, including documents You may complete via web page and save on Your computer or attach to e-mail. An “Electronic Signature” includes any mark, symbol, sound or process that is written, stamped, engraved, attached to or logically associated with an electronic document and executed by a person with the intent to sign.
You have the following rights:
The Company may utilize the services of third-party service providers to facilitate electronic delivery of Electronic documents.
Last Updated: April 4th, 2021