Drag Car Insurance
04-17-2005, 08:14 AM
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Drag Car Insurance It's pretty much a given that the standard auto insurance policy excludes any accident which occurs while going down the track. But, from what I understand you are covered any other time, even if you are hauling the car to or from the track.
I am thinking of building a dedicated track car and I look forward to not having to fool with licensing, registration and paying the kinds of insurance rates we are all used to with performance cars.
But, after talking my local (clueless about performance cars) insurance agent I realize that while I accept the fact that any car is not covered while racing, that the same car is also not covered at any other time. Going to or from the track, sitting in my back yard, anywhere. If there is a strong wind and a tree blows over and lands on the car, I'm out of luck.
Which brings me back to the idea that even if a car is not meant for the street and never driven on the street, keeping it "street legal", just enough to be registered and insured might avoid financial loss if something occurs other than at the strip. Granted, by the time a car is built up and modified, more money is put into it than would ever be recovered, at least there would be a pay off if something did happen. If you build up say a 1995 model that books for $6000 and you put another $15,000 into it you'd be out $9000 if it should be totalled somehow but getting $6000 back is better than $0.
Am I missing anything here?
What are your thoughts about this?
Iz
I am thinking of building a dedicated track car and I look forward to not having to fool with licensing, registration and paying the kinds of insurance rates we are all used to with performance cars.
But, after talking my local (clueless about performance cars) insurance agent I realize that while I accept the fact that any car is not covered while racing, that the same car is also not covered at any other time. Going to or from the track, sitting in my back yard, anywhere. If there is a strong wind and a tree blows over and lands on the car, I'm out of luck.
Which brings me back to the idea that even if a car is not meant for the street and never driven on the street, keeping it "street legal", just enough to be registered and insured might avoid financial loss if something occurs other than at the strip. Granted, by the time a car is built up and modified, more money is put into it than would ever be recovered, at least there would be a pay off if something did happen. If you build up say a 1995 model that books for $6000 and you put another $15,000 into it you'd be out $9000 if it should be totalled somehow but getting $6000 back is better than $0.
Am I missing anything here?
What are your thoughts about this?
Iz
04-17-2005, 08:42 AM
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Call AO Underwriters. I have a Lloyds policy thru them that covers my car while racing, in the pits, in the trailer, etc.
Originally Posted by Izmosis
It's pretty much a given that the standard auto insurance policy excludes any accident which occurs while going down the track. But, from what I understand you are covered any other time, even if you are hauling the car to or from the track.
I am thinking of building a dedicated track car and I look forward to not having to fool with licensing, registration and paying the kinds of insurance rates we are all used to with performance cars.
But, after talking my local (clueless about performance cars) insurance agent I realize that while I accept the fact that any car is not covered while racing, that the same car is also not covered at any other time. Going to or from the track, sitting in my back yard, anywhere. If there is a strong wind and a tree blows over and lands on the car, I'm out of luck.
Which brings me back to the idea that even if a car is not meant for the street and never driven on the street, keeping it "street legal", just enough to be registered and insured might avoid financial loss if something occurs other than at the strip. Granted, by the time a car is built up and modified, more money is put into it than would ever be recovered, at least there would be a pay off if something did happen. If you build up say a 1995 model that books for $6000 and you put another $15,000 into it you'd be out $9000 if it should be totalled somehow but getting $6000 back is better than $0.
Am I missing anything here?
What are your thoughts about this?
Iz
I am thinking of building a dedicated track car and I look forward to not having to fool with licensing, registration and paying the kinds of insurance rates we are all used to with performance cars.
But, after talking my local (clueless about performance cars) insurance agent I realize that while I accept the fact that any car is not covered while racing, that the same car is also not covered at any other time. Going to or from the track, sitting in my back yard, anywhere. If there is a strong wind and a tree blows over and lands on the car, I'm out of luck.
Which brings me back to the idea that even if a car is not meant for the street and never driven on the street, keeping it "street legal", just enough to be registered and insured might avoid financial loss if something occurs other than at the strip. Granted, by the time a car is built up and modified, more money is put into it than would ever be recovered, at least there would be a pay off if something did happen. If you build up say a 1995 model that books for $6000 and you put another $15,000 into it you'd be out $9000 if it should be totalled somehow but getting $6000 back is better than $0.
Am I missing anything here?
What are your thoughts about this?
Iz
04-17-2005, 09:03 AM
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Call AO Underwriters. I have a Lloyds policy thru them that covers my car while racing, in the pits, in the trailer, etc.
I imagine with what you've got invested in your car it's money well spent though.
Iz
04-17-2005, 12:50 PM
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Anyone else?
Do you just learn to live with the risk to your track only car?
Seems this would always be in the back of my mind, especially hauling the car on the public roadways. To me, the risk on the track is nothing compared to this.
Iz
Do you just learn to live with the risk to your track only car?
Seems this would always be in the back of my mind, especially hauling the car on the public roadways. To me, the risk on the track is nothing compared to this.
Iz
04-17-2005, 12:54 PM
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From what I understand If you can prove that all the parts you've bought and installed are on your car you will be covered. They have to pay you back for everything thats on your car. Just be sure to take pics of all the parts being installed and keep all records of everything on the car.
04-17-2005, 01:03 PM
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Originally Posted by koolkoreanked
From what I understand If you can prove that all the parts you've bought and installed are on your car you will be covered. They have to pay you back for everything thats on your car. Just be sure to take pics of all the parts being installed and keep all records of everything on the car.
Iz
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04-17-2005, 09:07 PM
#8
Bickel, could you P.M. me the phone # for that insurance company? I'm looking to get somethign other than normal auto insurance on my T/A, as I'm tired of paying 1700 a year to insure a car that only moves about one day a week... and I wanna to an agreed value policy on it at the same time. Thanks!
04-17-2005, 11:35 PM
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Originally Posted by Izmosis
Interesting, my impression was they go by the book for the value of the OEM config althought I haven't verified it. I will have to call my agent.
Iz
Iz
04-18-2005, 07:21 AM
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surely that should be declared at the time of insurance though ?
Ive seen laid up insurance policy when the car is not racing but nothing more than that
bickel some indicative figures would be really nice
Ive seen laid up insurance policy when the car is not racing but nothing more than that
bickel some indicative figures would be really nice
04-18-2005, 07:54 AM
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Originally Posted by A3Z28
bickel, about how much does that cost? probably pretty reasonable.
04-18-2005, 08:08 AM
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I have theft and fire coverage on my car with a stated value of $60,000.Car is never driven on the street.It covers nothing at the track and costs $400 a yr.
Good info Bickel.
Good info Bickel.
04-20-2005, 11:28 AM
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Originally Posted by A3Z28
bickel, about how much does that cost? probably pretty reasonable.
I'd love to see someone go to their commercial agent and say, hey, I got a built motor and nitrous and a bunch of other stuff, can I get that covered under my policy? You'll be lucky to get off the phone w/ coverage.
