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Author Topic: SM Insurance
cnj
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Region: SW Division
Car #: 32
Year : 1999
Posts: 194
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Can anyone provide me with advice on securing insurance for my SM and associated equipment? I am looking for theft coverage during storage (secured garage) and at the race track or hotels; insurance for damage during travel to race meetings - and liability coverage for third party injury in an accident during transportation or at the track in the pits.

For a more idle question, does anyone insure their car for on track damage, presumably with high deductibility?

Any advice regarding sources, best rate approaches, etc would be appreciated.

Thanks!

Craig

Todd Lamb Verified Driver Made Donation to Website Series Champ
Playboy Mazda MX-5 Cup Champion 2009

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Year : Party like it's ____
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Heakcock for trailer/car/contents. No liability or on-track.

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Mazdaspeed // SafeRacer // Traqmate // OPM Autosports // East Street Auto // Cobalt Friction
Racers Edge Motorsports Rolex GT RX-8 // i-MOTO Racing Conti Challenge MAZDASPEED3
Twitter: http://www.twitter.com/toddspeed

Viking Verified Driver Made Donation to Website
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Region: Southwest
Car #: 05 and ??
Year : 1991
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http://www.heacockclassic.com/site/

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Viking Sjovall
Viking Motorsports

smtejas Verified Driver Made Donation to Website
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Parish Heacock as Todd suggests. Usually around $250/annually for an average club racing car.

For ontrack insurance, look up David Empringham. Probably still in Canada. Try Toronto. I will look in my files here tomorrow also as I used to race against him years ago in F2000. He started brokering/selling on track race insurance years ago and he may still have an agency set up for this. I do believe most of the customers were higher end cars and drivers. Grand AM up. And I do believe it is liability insurance for a window of protection. For example, you are liable for the first $5K in damage and then it kicks in and covers up to a preset amount. The premiums were not too cheap either for each weekend. It made sense if you were renting an expensive car and contracted with a team for a group of races or season. Not sure if it would make sense financially for a club racing car. If you find out more info after contacting him, let us know. I will also look here for his information.

Hope that's helpful.

Don

Viking Verified Driver Made Donation to Website
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Also K&K Insurance - see below

http://www.kandkinsurance.com//aon/asg/kk/homepage.nsf/9...6fbd0065638e?OpenDocument

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Viking Sjovall
Viking Motorsports

Roger Caddell Verified Driver Made Donation to Website
Victory Lane Data

Region: Northwest
Car #: #30
Year : 2007
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SM racer and good guy Jon Davies has supplied us with insurance for our SM and MX-5 thru Columbia River Insurance.

He was the original builder of our 2006 SCCA championship car so he knows his stuff!

He can be reached at 541-386-2444 or at

jon at columbiariverins dot com

I always try to support our fellow SM racers.

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Thanks!

Roger Caddell

Victory Lane Data - Your Aim Data Acquisition Connection!
Andrew Caddell - Personal Website!

B Wilson Verified Driver Series Champ
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Region: Oregon
Car #: 68
Year : 91
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X2

Call Jonny.

-Bruce

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Bruce Wilson
2010 Oregon Region Champ
2010 Monte Shelton Driver of the Year
2010 25 Hours of Thunderhill E3 and Under 2 liter Overall Champion
Oregon Region SM Class Advisor

Steve D. Verified Driver Made Donation to Website
Once you get past the gag reflex, the jelly ain't bad!

Region: Atlanta
Car #: 30
Year : 1999
Posts: 652
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Adding to what Don posted...

The website for David Empringham's insurance program is laurelde dot com. I haven't had any experience with him, but will be checking it out since my former track insurance carrier (American Collectors) stopped renewing policies. The site states it is only for Porsche Club events (or events with a similar format).

I think Gainsco has a race car/transport policy, but haven't gotten a return email from them. I guess they're busy cheating up next year's DP. Kidding!

I can't imagine that insuring a spec miata for on-track activity would be at all economically feassible. I think it makes sense to insure an expensive street car for occasional track use.

Steve D. <<can't wait to try his Xmas/birthday present out at Roebling in a couple weeks. [thumbsup]

Michael B. Verified Driver Made Donation to Website
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FWIW I called my Allstate rep just now. I asked him what I needed to do for the track rig & the racecar. He stated that of course the trailer is covered on the tow vehicle policy if the trailer is hooked to it. I asked him to look into if I unhook to go to a hotel or whatever (he did not know the answer that second). The racecar will need its own policy for if its stolen or damaged while in storage or sitting in the paddock. The rest of the race equipment is covered under whatever home owners policy is in effect.

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MB.

cnj
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Region: SW Division
Car #: 32
Year : 1999
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Guys,

Thanks a lot for the input - this is very helpful.

Craig

Bill Pruitt Verified Driver Made Donation to Website
You know you miss him...

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Year : 1995
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It's worth the few bucks to put comprehensive on the thing. If the garage burns down the car is only covered if it has it's own policy, the structure coverage won't pay for the auto.

Qik Nip Verified Driver Made Donation to Website Series Champ
Loose Member '09 & '10 Great Lakes Regional Points Champion

Region: Cincinnati Great Lakes
Car #: 60
Year : 1990
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Assumimg it's worth doing, my take is that if the car's titled, just insure it as a driver (that won't be driven). If the garage burns, it's covered as well as being stolen.
Rick

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Fortune Cookie Racing SM 60
Directions for use: Race, Rumple, Repair ... Repeat!

jigou Verified Driver
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Region: Des Moines Valley
Car #: 59
Year : 1991
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quote:
Originally posted by Qik Nip:
Assumimg it's worth doing, my take is that if the car's titled, just insure it as a driver (that won't be driven). If the garage burns, it's covered as well as being stolen.
Rick

The problem with that is that mine would be insured as a 1991 Miata with 233,000 miles on it. Based on those specs, with a hardtop and in "Excellent" condition, Kelley Blue Book says suggested retail price for my Miata is $3,215.

Without additional riders or negotiation, you'll be hard pressed to get much more than that out of an insurance company if the garage burns or it's stolen.

Mine is insured with Parish-Heacock (or whatever they're called now) - for $250 a year, if the garage burns down or it's stolen or it falls off the trailer on the way to the track, I get the agreed value of the car. Since I have no intention of driving it on the street anyway, that's perfect for me.

If Jonny can do anything similar, he's worth talking to as well. (Until this thread I didn't know that's what he did.)

Jarrod

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http://www.plainoldgas.com

Ken Tubbs Verified Driver Made Donation to Website
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quote:
Originally posted by Qik Nip:
Assumimg it's worth doing, my take is that if the car's titled, just insure it as a driver (that won't be driven). If the garage burns, it's covered as well as being stolen.
Rick

That's assuming the your insurance company will even talk to you about insuring a race car. I have called mine (Nationwide) a couple of times to inquire about insurance and when they get to the question "does it have any modifications" and I answer yes that's the end of the conversation; even for comprehensive only.

Another interesting data point is that they don't cover the trailer or car while being towed. Sounds like I should shop around but I've been with them for 30 years and the rates are really great!

B Wilson Verified Driver Series Champ
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Region: Oregon
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Year : 91
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These insurance companies change their minds on non-daily driver stuff frequently. When I rented a motorhome, I found out Allstate recently decided they wouldn't issue RV riders any longer. Jonny to the rescue again!

Jonny is a broker for more than one company that insures racecars. Call him and he'll walk you through the ins and outs of each alternative.

-Bruce

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Bruce Wilson
2010 Oregon Region Champ
2010 Monte Shelton Driver of the Year
2010 25 Hours of Thunderhill E3 and Under 2 liter Overall Champion
Oregon Region SM Class Advisor

Jim Boemler Verified Driver
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Region: NWR, OR
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Year : 1992
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Nationwide will only insure bone-stock cars? Wow. [Frown]

jim

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Just a clown

Bill Pruitt Verified Driver Made Donation to Website
You know you miss him...

Region: WMR
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Year : 1995
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$66/yr on mine; no liability coverage on what is termed a "non licensed, non-driver", covers a declared value of $11K if lost in a garage fire or stolen, if car is only used on-track for under 1500 mi/yr. Try Haggerty or one of the other collector car insurers, talk to a rep rather than surf, they can be very creative.

Bill Pruitt Verified Driver Made Donation to Website
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Region: WMR
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Urk!! Make that $166.

Phokaioglaukos Verified Driver
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Region: Philadelphia and WDCR
Car #: Gone: 40 SSM
Year : 1993
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quote:
Originally posted by Steve D.:
The website for David Empringham's insurance program is laurelde dot com. I haven't had any experience with him, but will be checking it out since my former track insurance carrier (American Collectors) stopped renewing policies.

For driver education or driver school (PCA, BMW, Audi, etc.) events (but NOT RACING), here is what I know about on-track coverage:

There is now an agent In NJ selling insurance for driver education. The
wholesaler of the policies is WSIB Motorsports, the underwriter is one or
more of the syndicates at Lloyds and the agent is Dan Thompson at Capacity
Coverage, http://www.motorsportcoverage.com, 201-661-2441. The WSIB policy may also be obtained directly from WSIB: Jean DeWitt, Director, Wholesale Division,
WSIB Motorsports Insurance jeand@wsibinsurance.com Ph: 866-904-9742 X2507
Fax: 866-974-2329, but I would go through Dan. The application asks you to
state the value of the car and you pay a premium of 3% of that. The
deductible is the greater of $2,500 or 4% of stated value. This is not an
agreed value policy (a total loss does not entitle you to the stated value)
but instead is an actual cash value policy (you get the lesser of cost of
repair or value of the car, just like your street policy). It covers only DE
and not racing, etc.

In addition, the insurance program offered by Snellings-Walters last year
has been reopened, although the premiums for this year have not been set
yet. The contact there is: Lori J Creed, Commercial Account Manager,
Snellings-Walters Insurance Agency, 1117 Perimeter Center West. Suite W101,
Atlanta, Georgia 30338,(770) 508-3033 Direct Line. This is the policy I got last May, but it was pulled from the market when Chris Maume, the agent, left that company. The underwriter was Great Lakes Reinsurance (UK) PLC, a company with a really good AM Best rating. This is clearly an actual cash value policy.

The WSIB policy is a very short one adapted (largely but not well) from a
British model. The Snellings-Walters policy (at least the one used last
year) is a typical US auto policy form that has been limited to on-track DE
property coverage. Neither is a work of lawyerly art, but they both probably
get the job done.

Gainsco has announced that it will offer track insurance this year, and that
Chris Maume has joined, but there are no details on that yet. I have my
fingers crossed that this will be the policy to get.

Finally, I think Laurel DE is still writing track policies, but what they
offer is not backed by a real insurance company (not a company with ANY AM
Best rating), so that is just different. I would stay away even though I understand they have paid claims.

--------------------
Chris

jstod Verified Driver Made Donation to Website
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quote:
Originally posted by jigou:

The problem with that is that mine would be insured as a 1991 Miata with 233,000 miles on it. Based on those specs, with a hardtop and in "Excellent" condition, Kelley Blue Book says suggested retail price for my Miata is $3,215.

Jarrod [/QB][/QUOTE]

"Excellent" condition?? you must have done some body work, lol, but I think $3215 is fair, I will bring the cash when I come to get it...

See you at MAM

Jim

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Jim Stoddard
Nebraska Region Competition Chair
MVRG Board Member

jigou Verified Driver
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Region: Des Moines Valley
Car #: 59
Year : 1991
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The only body work it needs would be some repainting on the front bumper - seems I cracked the clearcoat trying to help Johnson and Volante figure out where their gas pedals were. [Razz]

Is it April yet?

Jarrod

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http://www.plainoldgas.com

Ken Grammer
Mentally Challenged

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I haven't read all the prior posts... but if they haven't already been added, Chris Maume at Gainsco at (678) 643-8415 or chris.maume at gainsco.com should be able to provide real race car policies for your cars and equipment. They can provide on-track coverage as well.

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Ken Grammer

   

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