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Insuring Your Race Car...

Old 09-18-2012, 07:45 PM
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OCCOMSRAZOR
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Default 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.

Old 09-18-2012, 07:56 PM
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Short-Throw
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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.
Old 09-18-2012, 08:22 PM
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WNeal
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Just emailed Wells Fargo

Thanks for some great information
Old 09-18-2012, 09:41 PM
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rmackintosh
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Good info....thanks....will check into it!
Old 09-18-2012, 10:10 PM
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Maynor29
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One more option, I use www.locktonaffinity.com for storage/transport/paddock insurance.

On edit: better link here.
John

Last edited by Maynor29; 09-18-2012 at 10:14 PM.
Old 09-18-2012, 10:20 PM
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sperkins
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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.
Old 09-18-2012, 10:33 PM
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NVR2L8
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Originally Posted by Maynor29
One more option, I use www.locktonaffinity.com for storage/transport/paddock insurance.

On edit: better link here.
John
Call Adam Boca at the National Corvette Museum. He can offer the coverage. (270) 781-7973
Old 09-18-2012, 10:58 PM
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Short-Throw
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Originally Posted by NVR2L8
Call Adam Boca at the National Corvette Museum. He can offer the coverage. (270) 781-7973
If Adam deals in such coverage I would highly recommend engaging conversation with him. Great guy, transparent and as honest as they come.

Mike
Old 09-19-2012, 08:48 AM
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Adam Boca
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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
Old 09-19-2012, 12:01 PM
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jlutherva
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