Home  |  Forums  |  914 Info  |  Blogs
 
914World.com - The fastest growing online 914 community!
 
Porsche, and the Porsche crest are registered trademarks of Dr. Ing. h.c. F. Porsche AG. This site is not affiliated with Porsche in any way.
Its only purpose is to provide an online forum for car enthusiasts. All other trademarks are property of their respective owners.
 

Welcome Guest ( Log In | Register )

2 Pages V  1 2 >  
Reply to this topicStart new topic
> Racing insurance?
BillJ
post Jan 5 2022, 04:36 PM
Post #1


Senior Member
***

Group: Members
Posts: 1,078
Joined: 4-March 13
From: charlotte, NC
Member No.: 15,610
Region Association: None



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?
User is online!Profile CardPM
Go to the top of the page
+Quote Post
carr914
post Jan 5 2022, 06:24 PM
Post #2


Racer from Birth
****************************************************************************************************

Group: Members
Posts: 117,683
Joined: 2-February 04
From: Tampa,FL
Member No.: 1,623
Region Association: South East States



https://www.motorsportprospects.com/8-thing...IYSLaNGE29ZvX40
User is online!Profile CardPM
Go to the top of the page
+Quote Post
BillJ
post Jan 5 2022, 07:16 PM
Post #3


Senior Member
***

Group: Members
Posts: 1,078
Joined: 4-March 13
From: charlotte, NC
Member No.: 15,610
Region Association: None



Excellent article with company references as well. Thanks!

I am definitely going to get insurance so this is really helpful
User is online!Profile CardPM
Go to the top of the page
+Quote Post
carr914
post Jan 5 2022, 09:34 PM
Post #4


Racer from Birth
****************************************************************************************************

Group: Members
Posts: 117,683
Joined: 2-February 04
From: Tampa,FL
Member No.: 1,623
Region Association: South East States



QUOTE(BillJ @ Jan 5 2022, 08:16 PM) *



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

Attached Image
User is online!Profile CardPM
Go to the top of the page
+Quote Post
BillJ
post Jan 5 2022, 10:09 PM
Post #5


Senior Member
***

Group: Members
Posts: 1,078
Joined: 4-March 13
From: charlotte, NC
Member No.: 15,610
Region Association: None



Some beers at the lodge to ease your pain after i trust? Have blown two motors at the Glen. Unkind to me...
User is online!Profile CardPM
Go to the top of the page
+Quote Post
carr914
post Jan 5 2022, 11:42 PM
Post #6


Racer from Birth
****************************************************************************************************

Group: Members
Posts: 117,683
Joined: 2-February 04
From: Tampa,FL
Member No.: 1,623
Region Association: South East States



QUOTE(BillJ @ Jan 5 2022, 11:09 PM) *

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

Attached Image
User is online!Profile CardPM
Go to the top of the page
+Quote Post
Shivers
post Jan 6 2022, 05:10 AM
Post #7


Senior Member
****

Group: Members
Posts: 2,292
Joined: 19-October 20
From: La Quinta, CA
Member No.: 24,781
Region Association: Southern California



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.
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
BillJ
post Jan 6 2022, 05:57 AM
Post #8


Senior Member
***

Group: Members
Posts: 1,078
Joined: 4-March 13
From: charlotte, NC
Member No.: 15,610
Region Association: None



I sent a request in at 75k agreed value and the policy quote was $920/year
User is online!Profile CardPM
Go to the top of the page
+Quote Post
BillJ
post Jan 6 2022, 05:59 AM
Post #9


Senior Member
***

Group: Members
Posts: 1,078
Joined: 4-March 13
From: charlotte, NC
Member No.: 15,610
Region Association: None



QUOTE(carr914 @ Jan 5 2022, 10:34 PM) *

QUOTE(BillJ @ Jan 5 2022, 08:16 PM) *



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

Attached Image

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)
User is online!Profile CardPM
Go to the top of the page
+Quote Post
BillJ
post Jan 6 2022, 06:00 AM
Post #10


Senior Member
***

Group: Members
Posts: 1,078
Joined: 4-March 13
From: charlotte, NC
Member No.: 15,610
Region Association: None



QUOTE(carr914 @ Jan 5 2022, 10:34 PM) *

QUOTE(BillJ @ Jan 5 2022, 08:16 PM) *



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

Attached Image

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)
User is online!Profile CardPM
Go to the top of the page
+Quote Post
GregAmy
post Jan 6 2022, 11:48 AM
Post #11


Advanced Member
****

Group: Members
Posts: 2,262
Joined: 22-February 13
From: Middletown CT
Member No.: 15,565
Region Association: North East States



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
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
brant
post Jan 6 2022, 12:16 PM
Post #12


914 Wizard
**********

Group: Members
Posts: 11,584
Joined: 30-December 02
From: Colorado
Member No.: 47
Region Association: Rocky Mountains



QUOTE(GregAmy @ Jan 6 2022, 10:48 AM) *

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...



User is offlineProfile CardPM
Go to the top of the page
+Quote Post
BillJ
post Jan 6 2022, 12:39 PM
Post #13


Senior Member
***

Group: Members
Posts: 1,078
Joined: 4-March 13
From: charlotte, NC
Member No.: 15,610
Region Association: None



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?
User is online!Profile CardPM
Go to the top of the page
+Quote Post
brant
post Jan 6 2022, 12:42 PM
Post #14


914 Wizard
**********

Group: Members
Posts: 11,584
Joined: 30-December 02
From: Colorado
Member No.: 47
Region Association: Rocky Mountains



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.
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
BillJ
post Jan 6 2022, 12:47 PM
Post #15


Senior Member
***

Group: Members
Posts: 1,078
Joined: 4-March 13
From: charlotte, NC
Member No.: 15,610
Region Association: None



I set a declared value at $75k so definitely seems like my Hagerty quote for STP is pretty high.
User is online!Profile CardPM
Go to the top of the page
+Quote Post
GregAmy
post Jan 6 2022, 01:08 PM
Post #16


Advanced Member
****

Group: Members
Posts: 2,262
Joined: 22-February 13
From: Middletown CT
Member No.: 15,565
Region Association: North East States



QUOTE(BillJ @ Jan 6 2022, 01:39 PM) *
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."
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
BillJ
post Jan 6 2022, 01:27 PM
Post #17


Senior Member
***

Group: Members
Posts: 1,078
Joined: 4-March 13
From: charlotte, NC
Member No.: 15,610
Region Association: None



Will report back on what the costs come back at. I think the STP coverage makes good sense.
User is online!Profile CardPM
Go to the top of the page
+Quote Post
brant
post Jan 6 2022, 01:29 PM
Post #18


914 Wizard
**********

Group: Members
Posts: 11,584
Joined: 30-December 02
From: Colorado
Member No.: 47
Region Association: Rocky Mountains



QUOTE(GregAmy @ Jan 6 2022, 12:08 PM) *

QUOTE(BillJ @ Jan 6 2022, 01:39 PM) *
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.
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
brant
post Jan 6 2022, 01:32 PM
Post #19


914 Wizard
**********

Group: Members
Posts: 11,584
Joined: 30-December 02
From: Colorado
Member No.: 47
Region Association: Rocky Mountains



QUOTE(BillJ @ Jan 6 2022, 12:27 PM) *

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.
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
Shivers
post Jan 6 2022, 07:49 PM
Post #20


Senior Member
****

Group: Members
Posts: 2,292
Joined: 19-October 20
From: La Quinta, CA
Member No.: 24,781
Region Association: Southern California



QUOTE(brant @ Jan 6 2022, 10:42 AM) *

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
User is offlineProfile CardPM
Go to the top of the page
+Quote Post

2 Pages V  1 2 >
Reply to this topicStart new topic
1 User(s) are reading this topic (1 Guests and 0 Anonymous Users)
0 Members:

 



- Lo-Fi Version Time is now: 29th March 2024 - 05:21 AM