M3-owned
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From: Chicago, IL
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Find beauty in dissonance
Joined: Jun 2001
Posts: 1,552
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From: Takoma Park, MD
Originally posted by greenmonster
Ouch!!
They say that if you can't afford to push your car off a cliff, then you shouldn't be racing. Hope that wasn't his daily driver.
Ouch!!
They say that if you can't afford to push your car off a cliff, then you shouldn't be racing. Hope that wasn't his daily driver.
Does anyone have insurance that covers track/competitive events? Will most insurance compaines cover that damage? I've heard boths sides (yes and no).
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Joined: Aug 2002
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From: Swansea, MA
Originally posted by Bluto
That is why I don't go to a track, strip, or autocross. Even if you drive safely, doesn't mean other people will.
Does anyone have insurance that covers track/competitive events? Will most insurance compaines cover that damage? I've heard boths sides (yes and no).
That is why I don't go to a track, strip, or autocross. Even if you drive safely, doesn't mean other people will.
Does anyone have insurance that covers track/competitive events? Will most insurance compaines cover that damage? I've heard boths sides (yes and no).
If your serious about racing, and want to cover your racecar, there are companies that will write up a policy for you, but it'll cost some serious $$.
Here's the thread where I got the "if you can't afford to push the car off a cliff you shouldn't be racing it" quote from:
http://forums.pelicanparts.com/showt...ight=insurance
Lots of interesting stuff on what the porsche "track junkies" do with their racecars insurance-wise.
Administrator Alumnus
Joined: Oct 2001
Posts: 26,326
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From: Northwest IN
Originally posted by hemants
Why so much dirt, is that guy actually on a rally track in RWD?
Why so much dirt, is that guy actually on a rally track in RWD?
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Joined: Aug 2002
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From: Swansea, MA
Originally posted by Scrib
I'm guessing he lost it and slid off the track, into the dirt. He tried to recover and that's when all hell broke loose...
I'm guessing he lost it and slid off the track, into the dirt. He tried to recover and that's when all hell broke loose...
lover and fighter
Joined: Dec 2002
Posts: 2,417
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From: St Augustine, Florida
Here is the standard insurance exclusion for ISO formatted policies (about 65% of all policies written in the USA) and most carriers like Allstate, State Farm and GEICO use a derrivative of this:
Physical Damage Coverage:
Exclusions:
13. Loss to your "covered auto" or any "non-owned" auto located inside a facility designed for racing, for the purpose of:
a. Competing in; or
b. Practicing or preparing for;
any prearranged or organized racing or speed contest.
Further, this means that if YOUR car is damaged while at a track event or drag strip it won't be covered. Likewise, there is the same exclusion reformatted to keep your liability coverage from applying if you crash into someone else damaging their car or injuring them as well.
The major carriers (noted above) also do not provide liability or physical damage coverage for "street racing" either. Meaning, if you get caught or charged (by the po-pos) for racing or ticketed for same and there was resulting damage, the major carriers exclude coverage here as well.
95% of Umbrella policies would cover you for liability to others for these things, but not for your cars.
And as far as the poor M3 driver, he probably saved up for three years driving an old Datsun B210, worked 3 jobs (still), and now realizes perhaps he should have spent another $800 for a Skip Barber course rather than have to eat the cost of his $55k car he'll still be paying on though it won't get repaired...
Physical Damage Coverage:
Exclusions:
13. Loss to your "covered auto" or any "non-owned" auto located inside a facility designed for racing, for the purpose of:
a. Competing in; or
b. Practicing or preparing for;
any prearranged or organized racing or speed contest.
Further, this means that if YOUR car is damaged while at a track event or drag strip it won't be covered. Likewise, there is the same exclusion reformatted to keep your liability coverage from applying if you crash into someone else damaging their car or injuring them as well.
The major carriers (noted above) also do not provide liability or physical damage coverage for "street racing" either. Meaning, if you get caught or charged (by the po-pos) for racing or ticketed for same and there was resulting damage, the major carriers exclude coverage here as well.
95% of Umbrella policies would cover you for liability to others for these things, but not for your cars.
And as far as the poor M3 driver, he probably saved up for three years driving an old Datsun B210, worked 3 jobs (still), and now realizes perhaps he should have spent another $800 for a Skip Barber course rather than have to eat the cost of his $55k car he'll still be paying on though it won't get repaired...
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Joined: Apr 2001
Posts: 7,281
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From: Ringgold, Georgia, U.S
Well stated.
Depressing nonetheless....
Word to the Wise:
Depressing nonetheless....
Word to the Wise:
Originally posted by r10apple
Here is the standard insurance exclusion for ISO formatted policies (about 65% of all policies written in the USA) and most carriers like Allstate, State Farm and GEICO use a derrivative of this:
Physical Damage Coverage:
Exclusions:
13. Loss to your "covered auto" or any "non-owned" auto located inside a facility designed for racing, for the purpose of:
a. Competing in; or
b. Practicing or preparing for;
any prearranged or organized racing or speed contest.
Further, this means that if YOUR car is damaged while at a track event or drag strip it won't be covered. Likewise, there is the same exclusion reformatted to keep your liability coverage from applying if you crash into someone else damaging their car or injuring them as well.
The major carriers (noted above) also do not provide liability or physical damage coverage for "street racing" either. Meaning, if you get caught or charged (by the po-pos) for racing or ticketed for same and there was resulting damage, the major carriers exclude coverage here as well.
95% of Umbrella policies would cover you for liability to others for these things, but not for your cars.
And as far as the poor M3 driver, he probably saved up for three years driving an old Datsun B210, worked 3 jobs (still), and now realizes perhaps he should have spent another $800 for a Skip Barber course rather than have to eat the cost of his $55k car he'll still be paying on though it won't get repaired...
Here is the standard insurance exclusion for ISO formatted policies (about 65% of all policies written in the USA) and most carriers like Allstate, State Farm and GEICO use a derrivative of this:
Physical Damage Coverage:
Exclusions:
13. Loss to your "covered auto" or any "non-owned" auto located inside a facility designed for racing, for the purpose of:
a. Competing in; or
b. Practicing or preparing for;
any prearranged or organized racing or speed contest.
Further, this means that if YOUR car is damaged while at a track event or drag strip it won't be covered. Likewise, there is the same exclusion reformatted to keep your liability coverage from applying if you crash into someone else damaging their car or injuring them as well.
The major carriers (noted above) also do not provide liability or physical damage coverage for "street racing" either. Meaning, if you get caught or charged (by the po-pos) for racing or ticketed for same and there was resulting damage, the major carriers exclude coverage here as well.
95% of Umbrella policies would cover you for liability to others for these things, but not for your cars.
And as far as the poor M3 driver, he probably saved up for three years driving an old Datsun B210, worked 3 jobs (still), and now realizes perhaps he should have spent another $800 for a Skip Barber course rather than have to eat the cost of his $55k car he'll still be paying on though it won't get repaired...
