On-Track damage insurance?

clintonracing

clintonracing

something witty
Anyone ever heard of these guys? http://www.wsibinsurance.com/index.shtml

Over on the Subie forums there is talk of these guys covering on-track/during race event damage. The $ numbers that are being passed around are very reasonable also.. $1700/year.

I put in an application to see what they would say for me specifically. Just wondering if anyone else out there has dealt with WSIB already.
 
Not from me. Never heard of them. But I think a similar outfit advertises in the SOVREN magazine.

Wonder what their 'claim form' looks like?
 
I haven't heard anything back yet on my application. But if it is anything close to $1700/year I think it would be worth it to protect the car from a total loss.
 
There's also people like Hagerty, who will (surprisingly cheaply) insure your racecar for everything BUT on-track activities, including getting on/off the trailer, in the paddock, in your garage/storage space, while towing, etc.
 
I think... my regular insurance covers the car during towing. And house insurance covers it in the garage.

I'm more concened with turning the car into a ball of metal at the track. If there's a reasonable insurance plan that covers racing that'd be sweet.

I'll report back when I have some info from WSIB.
 
clintonracing said:
I think... my regular insurance covers the car during towing. And house insurance covers it in the garage.....
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The key words. If you only "think", I'd check.

On a homeowners policy for a single valuable object such as jewelry, or something of unusual value NOT found in your 'typical home', you NEED a rider on the policy covering that specific object. "Most" homeowners policy's assume the 'family' car is covered by auto insurance. If your car is stolen from the garage, you call your auto insurer, not your homeowners insurer.

I'm also not so sure you 'normal' auto insurance would cover a towed object of great value (race car). Maybe if you were hauling a load of manure on a 'garden trailer' they might. They would probably say, gosh what a shame, if we had only known we could have insured it.
 
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As Richard says, most insurance policies will NOT cover your racecar... my homeowner's, for example, specifically does NOT cover ANY car that's in the garage. My auto coverage, which extends to ANY car I drive or own, does NOT cover my racecar, including when I tow it on my trailer... which IS covered by my auto insurance.
 
How about the age old question of whom covers what. Does your auto insurance follow the car or the driver? If I do a rental car does my insurance cover that vehicle under my standard policy? I know, I could ask my insurance agent, but I'd rather ask you guys first.
I had a very large tree fall on my house in the early 90's which trashed half the house and the garage and damaged one of the cars. The homeowners policy didn't cover it, and the auto policy coverage was minimal. Pays to read the small print when dealing with insurance.
This thread does not pertain to Conference or racing BTW, so what should we do here Steve. ;-) Sorry, but I just had to ask!
 
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westipton said:
How about the age old question of whom covers what. Does your auto insurance follow the car or the driver? If I do a rental car does my insurance cover that vehicle under my standard policy?....
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When you rent a car, if you DO NOT take out their coverage, YOUR policy does cover you (your insurance follows you). That is why in theory, every driving member of the family needs to be on some insurance policy. The ONE advantage to taking out the rental agency's coverage is that it avoids a 'hit' on your personal policy if the car is damaged.

IF you loan your car to somebody and they have an accident, their insurance will cover it unless, they are uninsured. Which is the reason you want to carry "uninsured motorist coverage" on YOUR car.

Rental Agency Coverage:
I traveled the world renting cars all over the place and NEVER took out the rental company's coverage. Except ONCE. On a trip to Boston in really bad weather. Yup sure enough, car got damaged but not due to weather. See post on winches for what happened. Turned car in and walked away.
 
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You better make sure your trailer is covered while parked too.
Some policies specify that the trailer is covered while being towed by a covered tow vehicle.
In my case the vehicle inside is never covered, as another policy must cover it separately.
When the trailer is parked at your house it is not covered by your auto insurance.
It may also not be covered by your home owners. Your tools may also not be covered if you don't have a rider on the trailer.
I contacted my insurance company and made sure I had a rider attached to include the parked trailer.

All of the above is variable and is highly dependent on your insurance company and its rules.
 
westipton said:
This thread does not pertain to Conference or racing BTW, so what should we do here Steve. ;-) Sorry, but I just had to ask!
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Did you read the original post?

We got way off topic, but the original cars was about Conference (and racing) and if anyone here has used WSIB to protect their RACECAR during a race/practice.
 
clintonracing said:
I think... my regular insurance covers the car during towing. And house insurance covers it in the garage.

I'm more concened with turning the car into a ball of metal at the track. If there's a reasonable insurance plan that covers racing that'd be sweet.

I'll report back when I have some info from WSIB.
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I shouldn't have even brought this up... it has nothing to do with the original post.
 
Frank McKinnon once told me, "Never race anything that you can't afford to lose."

That's a near impossible goal, but sound advice. Especially if one extends that to include one's health, family, and friends.
 
Ken Killam said:
Frank McKinnon once told me, "Never race anything that you can't afford to lose."

That's a near impossible goal, but sound advice. Especially if one extends that to include one's health, family, and friends.
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Holy F#%& -- Is This is really where this thread is going.

Did I say I couldn't afford to lose my car? No! I asked a reasonable question about protecting my investment in case something bad happens.

Is it absolutely mandatory to have on-track insurance for me to race my car... hell no, I've had that car on the track probably close to 100 hours since I have owned it.

Would it be nice to have some financial backup, in case something happens? Hell yes... who wouldn't want that?
 
Geez, settle down.

It was a simple statement, an aside really, to the overall topic of potential loss due to ones own decision to participate in our great, but extreme, and expensive sport.

And please note my disclaimer.

True to topic, however...

I've looked, in the past year or so, into this type of insurance (on-line), and found nothing that I might assume an amateur racer in a 'racing', or qualifying competition event might deem affordable. (Can you spell Lloyds of London?). At least, in-so-far as that $1700/yr, may well be $1700/wkend fully dependent on the car/team/equipment that you want to have covered at a competition event. Sounds like every other kind of insurance. You can get anything that you can afford.

What I have found is 'track-day/non-competitive' coverage that isn't really too badly priced for the potential of loss. But that was a while back. Maybe the insurance industry is diversifying beyond that and looking to fill the niche market of the 'out-of-pocket' amateur racer.

Best of luck on your research. I hope that you find what you're looking for.
 
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ins

I has WSIB insurance when doing DE's. It was a couple of years ago, but believe the policy I had excluded timed events. Reports from PCA members claimed it was a good company.
 
fly2low said:
I has WSIB insurance when doing DE's. It was a couple of years ago, but believe the policy I had excluded timed events. Reports from PCA members claimed it was a good company.
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Thanks for the input, I appreciate it.

I still haven't heard back from them yet.
 
Whelp!

WSIB declined to quote me on-track damage coverage for competitive events. Their excuse was that they only offer coverage to cars in professional and semi-professional race series (and not club racers)...

Whateves!
 
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