Racing insurance? Options

[BillJ]

Question over in the general paddock area sparked my mind on looking into insurance for vintage racing. Who is using this kind of coverage here and do you recommend a particular company? I have already gotten a preliminary quote from Hagerty but what other reputable firms are doing this?

[carr914]

https://www.motorsportprospects.com/8-thing...IYSLaNGE29ZvX40

[BillJ]

Excellent article with company references as well. Thanks!

I am definitely going to get insurance so this is really helpful

[carr914]

I am definitely going to get insurance so this is really helpful

Get It!

A big wreck at Watkins Glen without Insurance effectively ended my rise in Open Wheel cars

[BillJ]

Some beers at the lodge to ease your pain after i trust? Have blown two motors at the Glen. Unkind to me...

[carr914]

Some beers at the lodge to ease your pain after i trust? Have blown two motors at the Glen. Unkind to me...

the Lodge is a Home away from Home

[Shivers]

I had no idea you could get collision for a race car. When I was racing RC hydro's I had a million in liability. But collision? What does something like that cost? Just curious what a season of racing would cost me.

[BillJ]

I sent a request in at 75k agreed value and the policy quote was $920/year

[BillJ]

I am definitely going to get insurance so this is really helpful

Get It!

A big wreck at Watkins Glen without Insurance effectively ended my rise in Open Wheel cars

I didnt see the picture when responded last night. That looks nasty. H
Glad you are here to share! The Glen is a beautiful place and i will go back someday (maybe right before i rebuild the engine lol)

[BillJ]

I am definitely going to get insurance so this is really helpful

Get It!

A big wreck at Watkins Glen without Insurance effectively ended my rise in Open Wheel cars

I didnt see the picture when responded last night. That looks nasty.
Glad you are here to share! The Glen is a beautiful place and i will go back someday (maybe right before i rebuild the engine lol)

[GregAmy]

What kind of premiums are you seeing and ARE YOU SURE they know that this is for on-track, wheel-to-wheel competition?

I pay roughly $250/year for STP - Storage, Transportation, and Paddock - for two race cars, each at $15k agreed value.

However, STP coverage stops the moment I cross onto the grid.

With STP, if you run into my car in the paddock with your truck, I'm covered. If I roll my trailer enroute to the track, I'm covered. If my garage burns down with the car in it, I'm covered (BTW, STP requires declaration of storage in a locked garage).

However, if you run over me on the race track going into Turn 1, I'm not covered.

You quoted $920 above for $75k coverage, per year. I find that totally unbelieveable for on-track, wheel-to-wheel activity.

For reference, insuring a $50,000 street car for on-track activity for a Track Night in America event - a non-competitive, recreational driving, gotta point-to-pass type of actvity strongly monitored by managers for driver activity - is about $150 per event and comes with a $5000 deductible.

I contracted on-track insurance for a Grand Am event one time for a car I was renting, and it was around a $5000 premium to cover a $150k car for just that one event and it came with a $5000 deductible.

I strongly suspect that whoever you got that quote from thinks you're talking about STP. I'd most strongly recommend you get a copy of the policy if you disagree.

BTW, my STP coverage, as well as coverage for my trailers and street 914, are through American Modern. Total annual premium is about $400 for everything. They do not offer on-track "racing insurance", those are specialized companies.


Greg

[brant]

What kind of premiums are you seeing and ARE YOU SURE they know that this is for on-track, wheel-to-wheel competition?

I pay roughly $250/year for STP - Storage, Transportation, and Paddock - for two race cars, each at $15k agreed value.

However, STP coverage stops the moment I cross onto the grid.

With STP, if you run into my car in the paddock with your truck, I'm covered. If I roll my trailer enroute to the track, I'm covered. If my garage burns down with the car in it, I'm covered (BTW, STP requires declaration of storage in a locked garage).

However, if you run over me on the race track going into Turn 1, I'm not covered.

You quoted $920 above for $75k coverage, per year. I find that totally unbelieveable for on-track, wheel-to-wheel activity.

For reference, insuring a $50,000 street car for on-track activity for a Track Night in America event - a non-competitive, recreational driving, gotta point-to-pass type of actvity strongly monitored by managers for driver activity - is about $150 per event and comes with a $5000 deductible.

I contracted on-track insurance for a Grand Am event one time for a car I was renting, and it was around a $5000 premium to cover a $150k car for just that one event and it came with a $5000 deductible.

I strongly suspect that whoever you got that quote from thinks you're talking about STP. I'd most strongly recommend you get a copy of the policy if you disagree.

BTW, my STP coverage, as well as coverage for my trailers and street 914, are through American Modern. Total annual premium is about $400 for everything. They do not offer on-track "racing insurance", those are specialized companies.


Greg

I have the exact same storage, transportation, paddock insurance on my race car
I looked once at an SVRA event for their sponsor who was offering on track insurance at the event... I think at the time it was 300-400 per a day as I remember...

I know my declared value policy on my race car will not cover a thing if it is rolling or on the actual track...

[BillJ]

Dead on right guys! I dug deeper on the quote and they confirmed it was just STP. Will have to check out American Modern as well.

Does anyone here insure on track?

[brant]

My STP is through hagerty...

around 300-400 per a year...
sounds more affordable than the quote they gave you
and mine is a declared value... I don't remember exactly... but I think 65,000 ?


I know SVRA is sponsored by a company that offers it...
look on the SVRA website at their sponsors...

I think its going to run 1000 per a weekend likely.
the SVRA events can be up to 5 days... and even more money
the reason I turned and walked away.

it just isn't in my budget
a big event is already costing:
1k for travel and fuel
1k for lodging and food
1k for fresh tires
1k for entry fee
$$ for maintenance and wear on the motor/tranny/hardware.

I just can't afford insurance on top of that.

[BillJ]

I set a declared value at $75k so definitely seems like my Hagerty quote for STP is pretty high.

[GregAmy]

Does anyone here insure on track?

Negative, too expensive. I just suck it up...

It's the ole racing saw: "if you can't afford to scrap it, you can't afford to race it."

[BillJ]

Will report back on what the costs come back at. I think the STP coverage makes good sense.

[brant]

Does anyone here insure on track?

Negative, too expensive. I just suck it up...

It's the ole racing saw: "if you can't afford to scrap it, you can't afford to race it."

the reason that all of the really valuable cars have left most vintage events.
we used to have real cobra's racing in colorado vintage

now.. all of the 2.0/aluminum block 1967 911S cars have disappeared too...

as they become too valuable to walk away from... they leave the track.

[brant]

Will report back on what the costs come back at. I think the STP coverage makes good sense.

that was my bottom line..
I figured a flat tire on the trailer at the wrong time... could lead to a loss.
so the roll over and towing factor was what pushed me into the insurance.

plus trailer thefts are real... happen all the time... makes you think twice when you park overnight at a random hotel in another state.

[Shivers]

My STP is through hagerty...

around 300-400 per a year...
sounds more affordable than the quote they gave you
and mine is a declared value... I don't remember exactly... but I think 65,000 ?


I know SVRA is sponsored by a company that offers it...
look on the SVRA website at their sponsors...

I think its going to run 1000 per a weekend likely.
the SVRA events can be up to 5 days... and even more money
the reason I turned and walked away.

it just isn't in my budget
a big event is already costing:
1k for travel and fuel
1k for lodging and food
1k for fresh tires
1k for entry fee
$$ for maintenance and wear on the motor/tranny/hardware.

I just can't afford insurance on top of that.

lol, well maybe some autoX