Race Car Insurance

[psfracer]

Post up what company you have dealt with, their service, and terms you feel comfortable disclosing (price, coverage, etc).

For me this has been somewhat problematic. Last year I was to get insurance that not only covered the race car off the track, but ON the track as well. Well December of that year a lot of the underwriters stopped offering this type of insurance due to abuse. (Example, car hits wall, can be fixed for $10K, but insurance company gets inflated bill for $25K).

That being said, with racing season for me starting next week, I wanted SOME kind of coverage. So I went to Heacock Classic Insurance. Details as follows:

Agreed stated value: $60K (Should I have tried for $70K??)
Premium: $474 for the year.

Coverage:

1) Theft from my garage, when in transport to/from the track, while at a shop getting work done. (I really needed this as we have all read the horror stories of tow vehicles with trailers and their race cars being stolen from shops, hotels when traveling, etc).
2) Collision damage while in transport to/from the track, in the pits, but NOT on the racing surface.

While the importance of #1 is obvious, #2 is needed by MOST others as well, because your auto insurance for your tow vehicle and trailer most likely does NOT cover the CONTENTS of your trailer. Only the trailer itself.

IMPORTANT: READ YOUR POLICY before purchasing. I had them email me the policy and I reviewed before purchasing. Also be clear on the conditions for "agreed stated value" as that could be different from company to company.

Another discussion that this thread can cover is "race car insurance" for street vehicles that are driven on the street. I have seen a few that are more for classic cars that go to car shows, special events, but normally they have mileage restrictions and once again, no actual "race" coverage.

And yet another consideration. If you have your car insured, but you have put thousands of $$$ in modifications in your vehicle, be careful. Some may not cover it at all, and still others may refuse to cover the vehicle if you are driving around with 800rwhp with a car that originally came from the factory with 1/2 that. And you don't want to find that out AFTER you have had an accident.

 

[Bud]

To be honest I purchased my insurance in a hurry before going out to the track, haven't even seen the policy from the carrier yet, I should be receiving it soon. I went through Hartland Insurance Group and the policy is underwritten by Lloyds.

50k stated value coverage for ON track - 5k deductible
$903/yr

Car is covered for 1/4 mile down to 8.50 ET. Supposed to cover everything except for fire, I will verify when I get a copy of my policy. I should have gone for more stated value as I have quite a bit more in the car but was going for some base coverage so if anything did happen I would be stuck with a very expensive paper weight. I know somebody local here that had a policy through Hartland and did have a wreck at the track and they said they had no problems with their claim.

They provide OFF track coverage as well, and it is actually cheaper than my current offtrack insurance so I'll be swapping to them soon. Here are their definitions. If I get the policy soft copy I will attach it later:

On Track Coverage – Provides physical damage for the vehicle while it’s in the water box and until you hit the return road



Off Track Coverage – Covers physical damage of vehicle 24/7, except while vehicle is racing. Includes coverage while vehicle is garaged, in transit, parked on the road, in the pits and as soon as it’s driven onto the return road

 

[weather man]

I have a $50,000 rider on my Farmers policy. It says no drag race coverage

 

[My08Stang]

To be honest I purchased my insurance in a hurry before going out to the track, haven't even seen the policy from the carrier yet, I should be receiving it soon. I went through Hartland Insurance Group and the policy is underwritten by Lloyds.

50k stated value coverage for ON track - 5k deductible
$903/yr

Car is covered for 1/4 mile down to 8.50 ET. Supposed to cover everything except for fire, I will verify when I get a copy of my policy. I should have gone for more stated value as I have quite a bit more in the car but was going for some base coverage so if anything did happen I would be stuck with a very expensive paper weight. I know somebody local here that had a policy through Hartland and did have a wreck at the track and they said they had no problems with their claim.

They provide OFF track coverage as well, and it is actually cheaper than my current offtrack insurance so I'll be swapping to them soon. Here are their definitions. If I get the policy soft copy I will attach it later:

On Track Coverage – Provides physical damage for the vehicle while it’s in the water box and until you hit the return road



Off Track Coverage – Covers physical damage of vehicle 24/7, except while vehicle is racing. Includes coverage while vehicle is garaged, in transit, parked on the road, in the pits and as soon as it’s driven onto the return road

I would like to get a copy of this policy..

I have a $50,000 rider on my Farmers policy. It says no drag race coverage

No major insurance companies will endorse racing... Farmers has a great high end car coverage.

I know most companies are pulling this type of coverage, think I only have one carrier left

 

[86GT351]

Contact Bill Lutz at Central Ohio Insurance. He has an NMCA Pro Street/NHRA Pro Mod car. I believe he deals with race car insurance all the time.

http://www.coiservices.com/a/

 

[psfracer]

Contact Bill Lutz at Central Ohio Insurance. He has an NMCA Pro Street/NHRA Pro Mod car. I believe he deals with race car insurance all the time.

http://www.coiservices.com/a/

That is who I went to first. But he no longer offers "on track" insurance.

 

[86GT351]

That is who I went to first. But he no longer offers "on track" insurance.

OK. I tried!

 

[jaja6009]

LMAO.... Today I was renewing my auto policy. And I asked GEICO if a race policy was offered. They said no. I then googled it and found some places that claim to have motorsports coverage. I called 2 of them. But in both cases the agent was not sure and said they would call me back.

Low and behold I come to the forum to look around and then I see this post.

At least I know there are some others who are concerned about this.

A bad scenario: You are still paying for your car and hit the wall and are injured.
You are gonna be liable for some hefty bills. The lender is gonna expect you to pay for the car, and if your health insurance does not cover your injuries you may owe some big bucks.

Right now Im reconsidering goin back to the track. At minimum I want to know if my health insurance will cover any injuries. Because I know that right now my car and myself are not covered by my auto insurance.

 

[Bud]

LMAO.... Today I was renewing my auto policy. And I asked GEICO if a race policy was offered. They said no. I then googled it and found some places that claim to have motorsports coverage. I called 2 of them. But in both cases the agent was not sure and said they would call me back.

Low and behold I come to the forum to look around and then I see this post.

At least I know there are some others who are concerned about this.

A bad scenario: You are still paying for your car and hit the wall and are injured.
You are gonna be liable for some hefty bills. The lender is gonna expect you to pay for the car, and if your health insurance does not cover your injuries you may owe some big bucks.

Right now Im reconsidering goin back to the track. At minimum I want to know if my health insurance will cover any injuries. Because I know that right now my car and myself are not covered by my auto insurance.

Don't worry, obamacare has you covered

If you are racing at an NHRA track you get some level of medical benefit insurance coverage, if you are an NHRA member you get a higher excess benefit coverage: http://nhra.com/insuranceinfo.aspx

 

[cbass]

I know three people who have done track days at Watkins Glen, purchased specific insurance, and had the insurance company total the cars.
Honestly, all three of them purchase it for every event, the only one I asked said it's about 75 bucks a day for him.
I would be wary of racing without the insurance. It's a >$20k fuck up if you get one corner wrong. Not exactly the odds I like to gamble on.

 

[jaja6009]

I know three people who have done track days at Watkins Glen, purchased specific insurance, and had the insurance company total the cars.
Honestly, all three of them purchase it for every event, the only one I asked said it's about 75 bucks a day for him.
I would be wary of racing without the insurance. It's a >$20k fuck up if you get one corner wrong. Not exactly the odds I like to gamble on.

SO Atco raceway has some medical benefits for me if I get hurt?

I just got off the phone with my health insurance.
They stated that while drag racing if I am injured I am not covered because if my auto insurance does not cover it they will follow suit and not cover it.
So as of right now if I hit the wall at Atco my car is not covered and I am not covered for any injuries through either my auto or health plans.

So only Atco if they have a medical policy covering me would be my insurance?

 

[Bud]

Chatted with my agent over there:

Kathy Geatches
[email protected]
248-375-4216

I can't post the policy publicly online but I did a quick review of it and it states ON TRACK coverage collsion, upset, and fire at any event including test and tune controlled by the NHRA, IHRA, or Good Guys held at a track sponsored by one of those organizations.

You can give Kathy a ring/email to get further info and/or a quote. The insurance won't help those racing at a local non-nhra/ihra track but luckily for me that is all I race at.

 

[NUTCASE]

subbed

 

[jaja6009]

Looks like more bad news. NHRA insurance for participants and members looks to be an "Excess" policy. If I understand correctly (Which I am unsure of), it looks like if you are not covered for medical insurance for the drag strip through you own policy, than their insurance wont cover you either. I emailed someone from the NHRA insurance page to clarify this and am awaiting a response.

SO as of right now, it looks like I am not covered for one thing when I go to the track. If I hit a wall the car is not covered and my medical is not covered.

 

[irishpwr46]

I know three people who have done track days at Watkins Glen, purchased specific insurance, and had the insurance company total the cars.
Honestly, all three of them purchase it for every event, the only one I asked said it's about 75 bucks a day for him.
I would be wary of racing without the insurance. It's a >$20k fuck up if you get one corner wrong. Not exactly the odds I like to gamble on.

can you get more info on that?

 

[Bud]

Looks like more bad news. NHRA insurance for participants and members looks to be an "Excess" policy. If I understand correctly (Which I am unsure of), it looks like if you are not covered for medical insurance for the drag strip through you own policy, than their insurance wont cover you either. I emailed someone from the NHRA insurance page to clarify this and am awaiting a response.

SO as of right now, it looks like I am not covered for one thing when I go to the track. If I hit a wall the car is not covered and my medical is not covered.

I just read through my health insurance policy and it says nothing for exclusion of health coverage for injuries during a race event, might want to check your policy instead of going by what the person on the phone said. My policy talks about coordinating coverage with auto insurance to see who would provide primary coverage. If auto insurance excludes coverage for the event then health insurance would be next in line to provide coverage (as long as there is not a specific exclusion in your health policy).

 

[jaja6009]

I just read through my health insurance policy and it says nothing for exclusion of health coverage for injuries during a race event, might want to check your policy instead of going by what the person on the phone said. My policy talks about coordinating coverage with auto insurance to see who would provide primary coverage. If auto insurance excludes coverage for the event then health insurance would be next in line to provide coverage (as long as there is not a specific exclusion in your health policy).

I will have to check the policy itself. The lady at my health insurance got some info on my auto policy. I use my health insurance as my primary payer for medical on my auto policy. Even though they are my first way to get my medical bills paid in a car accident they will follow whatever the auto policy would for exemptions/exclusions. If my auto policy would not pay in that instance, then they wont either.
She did put me on hold twice to check with a supervisor.

I am gonna go over the whole policy and also call one more time and have them tell me where in my policy to find the relevant info.

I have yet to call up my life insurance and accident insurance. At this rate I have a bunch of nothing to show for all of my insurance.

 

[kdanner]

One other insurance type to consider, there are some policies only for an air ambulance, which as you can guess is a very expensive service. I pay $40 a year and it covers my whole family at any time, not just race stuff.

 

[stkjock]

can you get more info on that?

Steve

I've seen this coverage offered online when looking at HPDE/road course events. It's usually 75-200 for the event or so IIRC.

 

[VTXFrank]

Make sure you clarify your racing with your insurance companies. If all you said is, "Am I covered if I am drag racing" instead of, "Am I covered for car racing at a facility specifically designed for such racing....NOT street racing....and get injured in a wreck?"

Or words to that effect. When I was racing my motorcycle on the weekends on a track in California back in the early 90's, I had that type of conversation with my vehicle insurance guy. He thought I was talking about street racing. Once I clarified it was at Laguna Seca Raceway, he gave me the correct rider on my policy to cover me.