Insure your race car!

#1

Hey guys,
I just thought I’d let you know, I have a insurance company that is willing to insure your race car, trailer and equipment.

This coverage is for physical damage or theft to your car, trailer or gear while NOT on the track (known in the industry as : Off Track and storage). The premium is equal to about 1% of the value of your stuff and is subject to a minimum premium of $500. The deductible is $1,000.

The application is VERY simple and the pricing is pretty much that easy.

All the other companies I’ve talked to have $1,500 minimum premiums and alot of requirements as to where the stuff is stored and the type of trailer and alarms and such, but this is very simple.

Contact me if you need any more info. I’ll be adding this coverage for our 2 cars, 2 trailers and stuff and the premium is $500!

Jeff Hall

#2

Jeff, please bring applications to Rockingham. Thanks in advance, Robert Patton

#3

jhall1957 wrote:

[quote]The premium is equal to about 1% of the value of your stuff and is subject to a minimum premium of $500. The deductible is $1,000.
[/quote]

Since the minimum premium is $500 does that mean we tell them that our stuff is worth a minimum of $50,000?

#4

Patton wrote:

Robert, Sorry Tom and I are skipping Rockingham (he’s got sailing to do all month) but I can email you the application. Send me a quick email to jeffhall@hall-insurance.com

We are planning on being at CMP, Road Atlanta and hopefully VIR-North course in July and August.

BTW, Since I’m not licensed in anywhere other then NC, I am making no money on you guys in these other states, consider it a public service deal!!!

#5

trentmw wrote:

[quote]jhall1957 wrote:

[quote]The premium is equal to about 1% of the value of your stuff and is subject to a minimum premium of $500. The deductible is $1,000.
[/quote]

Since the minimum premium is $500 does that mean we tell them that our stuff is worth a minimum of $50,000?[/quote]

Trent, I guess you could do that. I haven’t seen the policy yet, so I’m not quite sure how they would handle an "overvalued" situation, but I would bet the most you recover is the "replacement cost".

The minimum is just the amount the company requires. I’d sure cover ALL your race related stuff. I had my big trailer covered for physical damage on my corporate policy and now will remove it since I don’t need it covered both places.

The $500 minimum is still high if all you have is a $15,000 car and and $1,500 trailer, but it’s alot better then the other companies I’ve found (all $1,500 minimums).

#6

I got a quote from Heacock Classic for $15000 of coverage and a $250 ded. for off track damage and the annual premium is $250.

#7

Why only OFF track? What happens if your car/trailer/stuff gets stolen from the track?
It’s a good deal, but Heacock quote sounds good as well, any small print?
What happens if the car gets "loose" while driving and it’s totalled or damages property?

#8

BETO wrote:

[quote]Why only OFF track? What happens if your car/trailer/stuff gets stolen from the track?
It’s a good deal, but Heacock quote sounds good as well, any small print?
What happens if the car gets "loose" while driving and it’s totalled or damages property?[/quote]

I’m trying to "check out" the Heacock, but can’t get any details yet. There can be alot of small print. My ex-employer, K & K has a ton of requirements, which is why I want to see policies.

These policies don’t cover any "road" use, so if you ever drive your race car on road, no coverage. They ALL exclude any on track Physical damage, you can get it but it’s WAY expensive, I can get you numbers.

And I am quite sure that theft of car/trailer and stuff anywhere would be covered.

I’m still trying to check on Heacock.

#9

BETO wrote:

[quote]Why only OFF track? What happens if your car/trailer/stuff gets stolen from the track?
It’s a good deal, but Heacock quote sounds good as well, any small print?
What happens if the car gets "loose" while driving and it’s totalled or damages property?[/quote]

Not sure but i think it is covered if stolen at the track, "OFF track" means while not being driven on the track surface.

Al

#10

FARTBREF wrote:

[quote]BETO wrote:

[quote]Why only OFF track? What happens if your car/trailer/stuff gets stolen from the track?
It’s a good deal, but Heacock quote sounds good as well, any small print?
What happens if the car gets "loose" while driving and it’s totalled or damages property?[/quote]

Not sure but i think it is covered if stolen at the track, "OFF track" means while not being driven on the track surface.

Al[/quote]

Thanks Al, your exactly right. The industry now calls it STP, which stands for "Storage, transit and paddock" coverage. Meaning covered while any where NOT being driven pretty much!

#11

I meant loose from the trailer when I’m towing the car on the freeway/streets and the race car causes damages/injuries, would that be covered? Or if any of the tie-downs brakes and hit a winshield/person while trailering?

#12

BETO wrote:

OK, those are liability exposures and those are covered under the policy for the "towing" vehicle. Your personal auto policy would address those.

The "off Track" or "STP" policy covers the Physical damage to YOUR property (car, trailer, stuff, etc.). But in the case that your car come loose and falls off the trailer, the "transit" part of these policies would cover your loss based on the damage to your car and the liability that is on your tow vehcile covers the damage to others property. That’s the reason you should all have the Excess Liability policy to cover over your auto and home policy. If your race car breaks away and rolls off your trailer, your looking at a HUGE lawsuit.

#13

bmwbadboy wrote:

OK, I have the details on Heacock Storage, Transit and Paddock coverage. It can be cheaper, but here are the issues.

They require that the car be stored in a locked secured garage. The only time that you can have it out of the garage and it be covered is the night before an event or the night after. If it’s not in the garage, no coverage!

Plus the minimum premium in NC is $500 and then you add an additional premium for the trailers! Our premium for the 2 cars ($15,000 each) and the 2 trailers ($7,000 and $2,000) was $650. With the other guys we got all this plus our "other equipment"($5,000 covered AND no issues with locked garage for a flat $500.

This isn’t even close to the orginal deal I wrote about! We got all of our stuff covered for $500!

#14

Jeff,

Is this insurance policy still as good as it seems for race car/trailer coverage. I am mainly concerned about theft coverage.

Give me your phone number or email me more info on the policy. I am interested.

Thanks,
Ken
Kenneuhoff@aol.com

#15

Hey Ken, hope all is well. I hate we won’t be seeing you at Road Atlanta!

Yep, that is that good of a deal. Bottom line is that it is TOO broad and likely at some point in the future the carrier will need to tighten it down some, but for now it beats the crap out of everyone else’s plan.

As I mentioned, this is a "STP" plan. Storage, Transit, Paddock and that means that anything that happens to your car, trailer or equipment (as long as scheduled on policy) from a "Physical Damage" end is covered! Now of couse stuff like war and such is excluded, but if it’s stolen from your home, hotel or track, it’s covered. If the trailer and car go for a ride of their own, maybe even passing your tow vehicle down I-40, they are covered!

The 2 things to remember are: this plan provides no liability coverage and NO coverage while on the track! Liability coverage is of course provided for you against lawsuits (basic defi, but it works here). The liability protection comes to your as an extension of coverage from your tow vehicle while being pulled and as I’m sure you know, we have NO coverage while on the track!

The best part of this program is that unlike the others available, the storage requirements are VERY easy. The others I have talked to (Parrish Hancock, K&K, etc) all require the car be off loaded and stored in a locked garage somewhere and the trailer be separated. Coverage for the two items together is only the night before you leave for and event and the night you return. This is much better, they just want the stuff locked.

Example, Tom keeps one of our cars at his home on the trailer and I keep my car in my enclosed trailer at mini warehouse location. This is the only carrier that was ok with that set-up!

The premium equals 1% of the amount insured with a minimum premium of $500. You can put the car, trailer, wheels, tire, equipment etc. on the policy if you want.

Application is attached and call me with any questions!

By the way, Tom and I are now able to sell pretty much anything CDOC carries and we are working deals for our SpecE30 friends and family, so let me know if we can help you away.

Jeff Hall
Hall Ins.
336-765-1971
800-760-3456
336-749-0340 cell

#16

Can you insure me in NJ?

#17

Well, yes and no. I’m not licensed anywere other then NC and that means I wouldn’t make any money. But, I’m happy to help/consult and hook you up with the right folks!

I’d like to keep track of how many folks (especially Spec E30 people) I send to this program and hopefully they would pony up some money at some point for prizes or something at NASA events?

The coverage is provided by Motorsportscoverage.com. Thes folks are sponsor for BMWCCA events as the guy involved was active in BMWCCA.

The application is they, or you can email me and I can email one back. I hope you’d at least let me know so I can keep count.

Jeff Hall
jeffhall@hall-insurance.com
336-749-0340 cell
800-764-3456

#18

Thanks Jeff!!

#19

Andrew, this plan is available in all 50 states!