I am looking to get insurance for my race car, only for transport and theft or other non race related purposes. I contacted my State Farm agent and was told they do nothing with modified cars. I understand that any incident from driving the car wouldn't be covered, but a wreck while being towed or being stolen without insurance would be hard to bear.
I could definately be wrong, but I have always been under the impression that your tow vehicle's insurance policy will cover your trailer and anything on it?? As far as theft... o No:
Insurance on race car? I'm "in the business" and I have heard of no one who will cover a race car. You may try K&K Insurance Company (I think in Indiana) as they sponsored a NASCAR team years ago. I do not represent them, so I have no first hand knowledge. I know of no "main stream" insurance company that will cover your car. As far as the trailer, LIABILITY is covered while it is hooked up to a tow vehicle that is insured. No coverage for physical damage to the trailer or it's cargo. You can buy comprehensive and collision coverage on the trailer and, depending on the company, contents of the trailer that is not auto related. Again, I know of no one that will cover your auto related contents while in/on your trailer. HTH
I contacted the agent to question truck insurance covering the trailer and cargo. The trailer would only be covered for liability, any cargo would need seperate insurance. If this was an enclosed trailer it may change things, with an open trailer the car is there for the taking and not much way to lock it up. I am more concerned with theft than an accident at this point. The hood and trunk are pinned on and I don't have keys for the door locks, the ignition is only a switch no key needed anywhere on the car. I didn't give it much thought until traveling to Norwalk and leaving the car in the open overnight. An enclosed trailer would be nice but expensive and more than my truck can handle, so the $6000 for a trailer turns into way more after buying a different truck to haul it.
race car insurance Dennis, i have Grange insurance on my vehicles, they will cover my race car for comp. & theft. I just have to give them the vin# & that's it. You have a great looking '68 there!!! Randy
Randy, I can guarantee you the company does not know they are covering a race car. I looked into taking on Grange a few years ago and still have a copy of their auto manual. Specifically states the agent is not to write a car used in timed speed contests. Pretty much covers it. Your agent may know...but he hasn't told the company what he wrote. I'm sure of that.
race car insurance Call David Parrish at Parrish Heacock Insurance in Burns Tennessee. All they do is special car insurance and race cars. They insure some of the most expensive "vintage" race cars on the planet. The advertise in Hemmings, Autoweek etc. Yes, you can buy insurance for your car "on" the track. It's doubtful that any of us could afford it! Drag racing insurance "may" be cheaper than road racing insurace as there is only one other car on the track. In road racing there could be 30-50 cars on the track at one time. David insures my 66 Shelby GT-350 Vintage road race car. I have complete insurance up to the time I leave the false grid and enter the race track surface itself. This includes in the pit, street, bordello, everywhere except the racing surface. My car is also insured for street driving as it does have a license plate. That's all you need in Tennessee. Yes, this is more expensive than some "collector" insurance policies as it applies to race cars and is agreed value coverage. Proper insurance coverage for the "actual" use of the car is essential. Purchasing (lying) about the use of the car is fraud. You might as well not buy any insurance as the insurer will not pay if you were not truthful on your original insurance application. Yes, they can do that! As stated in Brad's post, the insurance on the tow vehicle ONLY provides liability coverage for the trailer. The car on the trailer is considered an insurable item and must have its own coverage for comprehensive and physical damage. Check with David, they are very familiar with the wants, needs and desires of race car owners.
Hey, Brad, I think Hagerty will cover race cars, I have not talked to them in awhile or even ventured the subject, but I seem to remember seeing something about racecars in their literature. I have enough 'old' cars insured with them that they insured my '86 GN with now 6k Miles, but I am the only one and first, as they had to ask Mrs. Hagerty if it was ok. They had absolutely no problem with it, as at the time I also had an '86 Vette with less than 13K on it that they also insured. I have fortunately had no claims on any of the cars, but have friends that have and they have been handled very, very well! RV
RACING There is no coverage under this policy while "your covered auto" is: 1. Involved in an organized or impromptu race including but not limited to the auto's: a: preparation for a race; b: participation in a race; or c: practicing or qualifying for a race. A race means any competition for speed or endurance whether against another competitor or against time. 2. Being used at a: a: racing facility; or b: facility or roadway temporarily designated for speed, time, racing, or performance driving events. This includes but is not limited to the use of "your covered auto" at a performance driving school, an above legal speed rally, or a closed road rally. However, coverage DOES APPLY while "your covered auto" is: 1. On display in the race facility's paddock area or a specified show display area; 2. Trailered from one location to another; or 3. Used by you to attend a racing event as a spectator. This endorsement is dated Jan. 02. The way I read this, I would be covered except when on the track.
Start a simple home business and just print up some cards. Register the trailer and truck under the company name. The you will have business insurance that covers parts your carry. I have my wagon in my old company name PCperformance and anything lost / stolen / damaged in my wagon is covered. The BMV only want to see a bsiness card or letter head and you use your SS number. I use progressive and its like $700 a half. My Bird eats up like $445 of that. Bike is $50 a season. Matt uzzled: Makes me think I should of called the insurance company and said a computer made my bumper fall off.:Smarty:
Re: Insurance on race car? Brad, wouldn't you interpret the Hagerty statement as I do, that my car would be covered except when on the track, whether it was a real track, or a highway impromptu race? Of course, Hagerty coverage isn't for a daily driver, but it reads to me like a race car is covered except when racing, which is what Dennis has inquired about.
Matt, Better check with your agent. To cover "business property" away from the "business premisis" requires inland marine coverage. All the policies, again written by "main stream" insurance companies, will cover "business property" at the insured location or within 1000' of the insured location (the address on your declarations page). Inland Marine coverage can cover specific items, ie: you name what is covered by specific description(cheaper) or blanket items, ie: I've got $5000 worth of stuff (much more expensive), anywhere in the world. I am familiar with Progressive. They, I am sure, will not cover your stuff in the wagon. Who's your business policy with? If it is Progressive, that's only auto coverage and not Inland Marine coverage or business property coverage. Auto coverage will only cover items in or upon the insured vehicle that came with the vehicle from the factory, ie: jack, spare tire, radio in the original opening, etc. Better look into it ASAP.
Re: Re: Insurance on race car? David, Yes, I would interpret exactly as you do. I am sure there are companies out there that will cover a race car, both on and off track, but at a price as mjs-13 stated. Your main stream companies, Nationwide, State Farm, Grange, Motorists Mutual, Progressive, etc. will not provide coverage under any of their policies for a "race car". You will have to go to a specialty company and fully inform them of what you have and how you want it covered. Anything can be had, for a price.
Dennis, unless you also use your race car as a daily driver, which I doubt, Hagerty Insurance provides coverage as stated in my previous post, except when your car is on the track. My policy is for $8000 and cost me about $95/year. Of course, if I drive it to work... and have an accident, Hagerty won't pay. Not covered for use in normal daily activities like work transportation.
racing Hmmm, Brad my agent told me the same thing as what David listed from Hagerty.. Now i'm confused... I'd better investigate further.o No: Randy
Brad , Oh yea, I do not have very much but never carried more than $2-3000 worth of stuff. It was really their idea. I just said it was for business use and they asked what I did and then asked if I would ever be carrying customers computers. I said yes so they added some protection onto that. I use to do roofing also. If you try and get insurance to cover your guys working it is a nightmare and super price if you say its for roofing. Go down and ask for general contractor insurance and its like $250 a year and it covers much more. Could just be Ohio though? Matt uzzled:
OK, attached is a photo from my underwriting manual. It says, and I quote, that the agent does not have binding authority to cover a race car. I've had to post two pictures as the rule was split between 2 pages..ou: Guys, I hear this all the time..."My agent told me this and now the company won't pay". That's because the agent did not have the authority to change the insurance companies policies. He, the agent, may be paying one out of his pocket...
