How do I insure a highly modified 951
03-26-2009, 09:20 PM
#17
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One problem with the "I won't claim any damage at the track" is that you are just thinking about collison, the insurance companies are just as concerned about liablity if you hurt/kill another driver. The total liabilty could be really huge.
I always consider any damage at the track to be on my nickle, but the liability issue is a differnt deal...
I always consider any damage at the track to be on my nickle, but the liability issue is a differnt deal...
03-26-2009, 09:29 PM
#18
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I am pretty sure that is what Sam has. We have looked in to it as well. They had no problem with the agreed value, but did want to impose a annual mileage limit. Since the car is not being driven right now, I have dropped the insurance for now. I will go with Grundy as the agreed value is important to me and their rates were great. I also have other vehicles to drive for DD, so I can live with limited mileage. I will try to negotiate 4-5K miles a year for the first year and see where I end up for the next policy.
I'll have to look up what insurance I was going to go with when I get home as I forget the name off the top of my head. They are one of the few companies I could find that'll provide classic car insurance to someone under the age of 25...since I'm 22.
03-26-2009, 09:29 PM
#19
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One problem with the "I won't claim any damage at the track" is that you are just thinking about collison, the insurance companies are just as concerned about liablity if you hurt/kill another driver. The total liabilty could be really huge.
I always consider any damage at the track to be on my nickle, but the liability issue is a differnt deal...
I always consider any damage at the track to be on my nickle, but the liability issue is a differnt deal...
03-26-2009, 09:53 PM
#20
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One problem with the "I won't claim any damage at the track" is that you are just thinking about collison, the insurance companies are just as concerned about liablity if you hurt/kill another driver. The total liabilty could be really huge.
I always consider any damage at the track to be on my nickle, but the liability issue is a differnt deal...
I always consider any damage at the track to be on my nickle, but the liability issue is a differnt deal...
03-26-2009, 09:58 PM
#21
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Sure you aren't thinking Hagerty or something? Grundy specifically states on their website they have no mileage limits.
I'll have to look up what insurance I was going to go with when I get home as I forget the name off the top of my head. They are one of the few companies I could find that'll provide classic car insurance to someone under the age of 25...since I'm 22.
I'll have to look up what insurance I was going to go with when I get home as I forget the name off the top of my head. They are one of the few companies I could find that'll provide classic car insurance to someone under the age of 25...since I'm 22.
After speaking with the Agent, and paying for full coverage on the 2 951's that were just sitting, we decided to not insure them at this time. I will put a policy on the 86 with a agreed value policy and probaly just put liability on the other 951 if I decide to keep it for a DD.
03-27-2009, 08:20 AM
#22
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If you want a sobering thought beyond that - consider that the guy ahead/behind you at the track could be a lawyer driving (badly) a $125k Porsche. If he screws up and collects you in the process the possiblity of a lawsuit is a little higher than I would like....
Obviously I have come t terms with the risk of damage and/or injury at the track and I don't have an issue with that - but I cannot control the issue of some putz suing me. Thats the main thing I consider when I think of insurance while at the track.
03-27-2009, 04:37 PM
#23
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A couple of years ago somebody got 'dead' at a Watkins Glen DE.
If you want a sobering thought beyond that - consider that the guy ahead/behind you at the track could be a lawyer driving (badly) a $125k Porsche. If he screws up and collects you in the process the possiblity of a lawsuit is a little higher than I would like....
Obviously I have come t terms with the risk of damage and/or injury at the track and I don't have an issue with that - but I cannot control the issue of some putz suing me. Thats the main thing I consider when I think of insurance while at the track.
If you want a sobering thought beyond that - consider that the guy ahead/behind you at the track could be a lawyer driving (badly) a $125k Porsche. If he screws up and collects you in the process the possiblity of a lawsuit is a little higher than I would like....
Obviously I have come t terms with the risk of damage and/or injury at the track and I don't have an issue with that - but I cannot control the issue of some putz suing me. Thats the main thing I consider when I think of insurance while at the track.
03-27-2009, 05:17 PM
#24
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Sorry I didn't see this sooner guys. I've done this already.
Farmers will insure it. My insurance agency (Farmers) insures my car for a $60,000 value. They had me get an actual value appraisal on the car. That's where they and I got to $60,000. I can drive as much as I want, track or not. No questions asked if something happens and totals my car. They just cut the check. It's about $200 bucks a month though. I don't know about you, but after everything I've put into my car, it's worth the piece of mind after all the horror stories I read about people getting their cars totaled and the insurance value of the car was the price of the Maf kit and exhaust.
Farmers will insure it. My insurance agency (Farmers) insures my car for a $60,000 value. They had me get an actual value appraisal on the car. That's where they and I got to $60,000. I can drive as much as I want, track or not. No questions asked if something happens and totals my car. They just cut the check. It's about $200 bucks a month though. I don't know about you, but after everything I've put into my car, it's worth the piece of mind after all the horror stories I read about people getting their cars totaled and the insurance value of the car was the price of the Maf kit and exhaust.
Last edited by DFASTEST951; 03-27-2009 at 05:40 PM.
03-27-2009, 07:59 PM
#25
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Sorry I didn't see this sooner guys. I've done this already.
Farmers will insure it. My insurance agency (Farmers) insures my car for a $60,000 value. They had me get an actual value appraisal on the car. That's where they and I got to $60,000. I can drive as much as I want, track or not. No questions asked if something happens and totals my car. They just cut the check. It's about $200 bucks a month though. I don't know about you, but after everything I've put into my car, it's worth the piece of mind after all the horror stories I read about people getting their cars totaled and the insurance value of the car was the price of the Maf kit and exhaust.
Farmers will insure it. My insurance agency (Farmers) insures my car for a $60,000 value. They had me get an actual value appraisal on the car. That's where they and I got to $60,000. I can drive as much as I want, track or not. No questions asked if something happens and totals my car. They just cut the check. It's about $200 bucks a month though. I don't know about you, but after everything I've put into my car, it's worth the piece of mind after all the horror stories I read about people getting their cars totaled and the insurance value of the car was the price of the Maf kit and exhaust.
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03-27-2009, 08:45 PM
#28
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Wow - 60k is an extreme value, though I admire that. I'm currently looking at my insurance policy as I have 5 valuable cars & I've been over-paying due to a lack of time & VERY low miles etc. for over a year now. I'm currently with Nationwide & they have an affiliation with Haggerty, though I'm not certain that they are the best option.
Grundy sounds like a decent company & the owner of the shop that did all of the custom work to my Mercedes told me that AAA were definitely the best to deal with for collision purposes.
Interesting topic given the current "save yer pennies" situation...
Grundy sounds like a decent company & the owner of the shop that did all of the custom work to my Mercedes told me that AAA were definitely the best to deal with for collision purposes.
Interesting topic given the current "save yer pennies" situation...
03-27-2009, 09:56 PM
#29
Drifting
My latest issue of panorama, has an ad for HPDE insurance program. www.hpdeins.locktonaffinity.com The ad says they insure for the track only.
Hey Dfastest: that a great price. Progressive wants like 1000 bucks a month for a stated value of 30k. 5-600 if I put my deductibles up to like 2k. I cant see the reasoning in paying that kind of money, in 2 years or so I would have just about paid them the value of the car already in insurance. Il definitely try farmers.
Hey Dfastest: that a great price. Progressive wants like 1000 bucks a month for a stated value of 30k. 5-600 if I put my deductibles up to like 2k. I cant see the reasoning in paying that kind of money, in 2 years or so I would have just about paid them the value of the car already in insurance. Il definitely try farmers.
03-28-2009, 10:12 AM
#30
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....1000 bucks a month for a stated value of 30k. 5-600 if I put my deductibles up to like 2k.