Matt, What you got was Motor Truck Cargo...only will cover property of others, not your own stuff. It was the agent's fault for not asking you the question "do you ever do roofing?" on the general contractors coverage. Everybody do yourself a favor...call your agent and if they tell you your race car is covered ask them to put that in writing and send it to you. If they do I'd be surprised.
Or more likely it will be a claim paid by the E&O carrier for the agent. If on the other hand the agent is not "independent ", he may still bind the carrier under the doctrine of apparent authority notwithstanding the denial of actual authority through the manual.
Jim, The Errors and Omissions carrier will only pay if the agent made an "accident" in what they did, not for a "lie" told by the agent to the company or to the customer. Also, independent agents still have "agency" with the company they are licensed with, so the company may be bound to the customer for the acts their agent did, but I guarantee, they will subrogate the E&O carrier to recover monies paid in a claim where the agent violated their contract with the company. Then the company will cancel the contract with said agency. Whether or not the E&O carrier pays monies in behalf of the agency is moot. They may, if in fact the agency made an honest mistake...that's what E&O is for. But, I guarantee everybody, that any agent worth their salt knows they cannot insure a race car. That's "Insurance 101". The whole point of this thread is to make sure everybody "comes clean" with their agent as to what they have and what they plan to do with it. No lies, no not telling the whole truth just because the agent didn't do their job and ask every question to perfection. You have an obligation to inform what you do with your car and what coverage you desire. Do you really want to fight a company for something that, for maybe a little more premium, would be a moot point? I think not. There are companies that WILL write your race car, on and off track. See if your agent represents one. If not, then I believe most of the members of this board know enough about the internet to do a dogpile or google search for "Race Car Insurance" and go from there. Heck, several members have even posted phone numbers of companies that specialize in race car coverage.
