Race Car insurance?

[AllZWay]

Do any of you have your race car insured? Not while on the track, but while towing or in your shop?

My insurance agent tells me that while towing, my car is not covered should I get hit on the interstate. The trailer is, but not the actual car.

As for coverage in my shop, he says I just need to up my coverage on contents enough to cover it.

How's your coverage?

[michaelmosty]

I have coverage on mine. It used to be through Parish Heacock but they recently changed names to someone else, can't remember right now.

It covers me while at home, to and from events, and in the paddock. (Not on the race track) I pay $250 / year for the coverage, $18,000 for the car and $1,500 for trailer.
I have heard rumor that as long as it is below $20K in coverage it will be $250 / year, I could be wrong though.

I'll look up the info. tonight for you unless someone beats me to it. Hope this helps.

[mitchntx]

You are lucky, James.

I can't get my trailer insured through my normal carrier ... well, for a reasonable price.

I got a quote from the carrier micheal mentioned and it was $250 for the car and $200 for the trailer per year.

Lots of restrictions, also. The one that really caught my eye was that the car had to be in a locked garage while at home. If it was stored in the trailer, the coverage for both the trailer and car were voided.

[AllZWay]

Thanks..... I had did a search and found the Harrish Peacok site and I was quoted $250, but that was as far as I went.

[marshall_mosty]

Mitch,
I believe that if the car is on the trailer and hooked to your tow rig, in your driveway, it is considered "in transit".

I'll have to check my policy to see.

[mitchntx]

Well, now ... that is an interesting "interpretation" ...

[Waco Racer]

I think the only people more creative with cars than racers are Insurance Adjusters.

[mitchntx]

Bringing up this old topic ...

I just chatted with a Heacock agent for a while.

For $15K agreed on value of the car, $15K value of the trailer and $2.5K agreed value of contents, the annual premium is $500 combined.

Coverage is for theft, vandalism, neglect, accident and acts of nature.

The car's covereage is for Storage, Transit and Paddock. If the car is moving under it's own power at any time, it is not covered. Coverage is for 24 hours prior to departure for an event, the duration of the event and 24 hours after I return. The car has to be stored in a locked building of some sort outside of that time frame. If the shop collapses on the car, the car is covered. If another race car runs into my car while I'm parked, car is covered. If my car rolls into another car, no coverage.

The trailer is considered the trailer itself and anything that is bolted to the trailer, like PitPal, generator, winch and toolbox. He made no mention of restrictions about where the trailer can be stored or not stored. So, my side yard is acceptable.

If the trailer is hit or stolen or beat up by a storm, it's covered. If it comes loose from my truck and destroys itself, it's covered. My auto libility policy will cover anyone the loose trailer hits.

Contents is anything else, not specifically bolted to the trailer.
Example: The toolbox is covered as part of the trailer, the toolbox contents is covered under contents.

I have to supply a filled out application and pictures of the car and trailer. A written schedule of contents is required.

And there was no price break on dropping the car ... the premium was $500. So, I figure their underwriter has a dollar amount threshold which will then ratchet the premium up.

I would like to find that threshold and insure for the max.

Car and trailer carry a $1000 deductible and contents carry a $500 deductible.

I need to get something in place before Nationals.

[Wirtz]

Good info. Thanks for posting it. Something I have not really thought about enough....

Jeff

[Fbody383]

I have had Heacock coverage on the 69 Camaro for a couple years - stated value of $22.5k costs me about $275 a year so Mitch's quote seems right on given my restrictions on mileagel and parking. I have not had to make a claim yet (thankfully) but have not had any pause in renewing with them.

Good reminder to add some business.