Insuring Your Race Car...
#1
Melting Slicks
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Insuring Your Race Car...
Some of you are aware that my car was destroyed in a shop fire a couple of weeks ago.
I won't rehash all the sordid details, but I did some research and found that there is at least one insurance company that will protect your race car (and race trailer) everywhere that it is at, with the exception of actual on track activity.
This company is Hagerty Insurance. Although most typically known for insuring collector vehicles, they have a motorsports division that provides insurance against loss from fire, theft, and collision (while in the pit and paddock) for your car, trailer and even spare parts.
I received a quote for coverage on the car that was destroyed (2005 C6) with a hypothetical value of $60,000, pit and paddock coverage (including loading and unloading from trailer) and $3000.00 of spare parts coverage for less than $600.00 per year.
Based on many of the comments left on my original thread, this would be a way to protect your car and trailer regardless of where it is at.
I won't rehash all the sordid details, but I did some research and found that there is at least one insurance company that will protect your race car (and race trailer) everywhere that it is at, with the exception of actual on track activity.
This company is Hagerty Insurance. Although most typically known for insuring collector vehicles, they have a motorsports division that provides insurance against loss from fire, theft, and collision (while in the pit and paddock) for your car, trailer and even spare parts.
I received a quote for coverage on the car that was destroyed (2005 C6) with a hypothetical value of $60,000, pit and paddock coverage (including loading and unloading from trailer) and $3000.00 of spare parts coverage for less than $600.00 per year.
Based on many of the comments left on my original thread, this would be a way to protect your car and trailer regardless of where it is at.
#2
Le Mans Master
Wells Fargo is another company. Many Inland Marine policies offer add-on coverage anywhere the race car is with the caveat as you mentioned of no on track coverage. Rates are $0.50/per hundred so a $50,000 car would cost $250.00/annually.
#5
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One more option, I use www.locktonaffinity.com for storage/transport/paddock insurance.
On edit: better link here.
John
On edit: better link here.
John
Last edited by Maynor29; 09-18-2012 at 10:14 PM.
#6
Le Mans Master
Good to know - thanks.
I have coverage on my street C5 through Grundy that's ridiculously dirt cheap. I'll check with them tomorrow if I get a chance to see if they offer something like Hagerty for track cars.
I have coverage on my street C5 through Grundy that's ridiculously dirt cheap. I'll check with them tomorrow if I get a chance to see if they offer something like Hagerty for track cars.
#7
Drifting
One more option, I use www.locktonaffinity.com for storage/transport/paddock insurance.
On edit: better link here.
John
On edit: better link here.
John
#8
Le Mans Master
#9
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Location: www.ncminsurance.com Bowling Green KY Home of the Corvette!
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CI 1-2-3-4-5-6-7-8-9-10-11-12 Vet
St. Jude Donor '07-'08
NCM Sinkhole Donor
Thanks NVRL8 and Mike!
We can offer a transit, storage and paddock type coverage through the NCM Insurance Agency. Coverage is off when the car hits the pits till it is back in the paddock.
Check us out at www.ncminsurance.com or give us a call at 877.678.7626.
Thanks!!
Adam
We can offer a transit, storage and paddock type coverage through the NCM Insurance Agency. Coverage is off when the car hits the pits till it is back in the paddock.
Check us out at www.ncminsurance.com or give us a call at 877.678.7626.
Thanks!!
Adam