Wow…first I have to say I am shocked at the tone. That is not the spec e30 I know at all.
I want mike to know I have been around this since before the first race ever turned a wheel and have never seen anything like that.
Second, while I think Mikes idea is a noble idea, I am not sure it would work. This coming from an "insurance guy".
Admin would be very difficult and claims almost impossible to handle. Some will want a shop to do the work some will do there own salvage, some buy new parts some buy salvage etc etc.
I also think you may see some adverse selection. Those without the skills or the money are likely to contribute and those with skills and money will not.
As noted before it may increase risk taking behavior, by decreasing the perceived cost of the behavior
It might be better to have a flat "shit happens" that pays a flat fee of $x if $y amount occurs. That would help, but not be difficult to administer.
For example if the car get more than $2000 of damage the fund pays out a flat $500.00.
By looking at past incidents you might be able to determine what threshold to set the trigger (severity) and how often that type of damage occurs (frequency) then you could estimate what the total amount per year would likely to be needed and set a fee.
I think you might have to exclude wet races…
That being said…my personal philosophy for any track vehicle is don’t put on the track what you can’t afford to walk away from…because you just might have to.
Ric
PS I’ll swap a Chesapeake bay sailboat cruise for a stunt plane ride anytime!!!