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?

[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...