Farmers Suck, but AmEx sucked even worse
#31
GEICO bought radar guns to write speeding tickets to police departments in the east coast. They bought the radar guns so people would get tickets and GEICO could raise their insurance rates to make more money.
Any self respecting car enthusiest would never give them a $.01.
Any self respecting car enthusiest would never give them a $.01.
#32
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Needs More Cowbell
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Needs More Cowbell
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Try Laurel DE (advertise in Pano), used by many folks over on the Racing/DE forum, recently discussed as well IIRC.
http://www.laurelde.com/
http://www.laurelde.com/
#33
Nordschleife Master
Lewis, no way in hell would I insure for DE with a company like that. First red flag from their website:
The coverage you are requesting is from an insurance company that is not licensed in the United States of America or Canada.
This company is called a "non-admitted" or "surplus lines" insurer. This company is not subject to the financial solvency regulations and enforcements which apply to State, U.S. or Canadian licensed companies.
The insurance company does not participate in any of the insurance guarantee funds created by State, U.S. and Canadian law.
Therefore these funds will not pay your claim or protect your assets if the insurance company is unable to make payments as promised.For additional information, you should contact your insurance agent/broker, " surplus line" broker, the State Department of Insurance or Provincial Insurance Commission.
The coverage you are requesting is from an insurance company that is not licensed in the United States of America or Canada.
This company is called a "non-admitted" or "surplus lines" insurer. This company is not subject to the financial solvency regulations and enforcements which apply to State, U.S. or Canadian licensed companies.
The insurance company does not participate in any of the insurance guarantee funds created by State, U.S. and Canadian law.
Therefore these funds will not pay your claim or protect your assets if the insurance company is unable to make payments as promised.For additional information, you should contact your insurance agent/broker, " surplus line" broker, the State Department of Insurance or Provincial Insurance Commission.
#34
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Originally Posted by Horizontally Opposed Man
I currently have Firemens Fund (in NC)my agent expressly told me that I have coverage for DE with them she sent me an email detailing this.They also told me that racing was excluded (obviously)Cheers HOM
Have your current policy reviewed by a lawyer. This is the only sure thing.
Oh, and my switch has been completed, I am now back in the saddle.
#35
When I ran my street Porsche at DE events I had it (with the rest of my holdings) insured with Allstate.
I specifically asked my agent and he said as long as it was not a timed event that we were fine.
Of course this varies state by state.
Since my track car is not insurred in my regular policy (I have coverage for theft and transportation) all bets are off now. But then again I could buy five of these for the price of a new GT 3.
I specifically asked my agent and he said as long as it was not a timed event that we were fine.
Of course this varies state by state.
Since my track car is not insurred in my regular policy (I have coverage for theft and transportation) all bets are off now. But then again I could buy five of these for the price of a new GT 3.
#36
Bottom Line, READ THE POLICY.
It does not matter what the agent tells you, what matters is what the policy states.
Just read a policy from State Farm which states "B. We do not provide Liability Coverage for the ownership, maintenance or use of: ... 4. Any vehicle located inside a facility designed for racing, for the purpose of: a. Competing in; or b. Practicing or preparing for; any prearrange or organized racing or speed contest"
It does not matter what the agent tells you, what matters is what the policy states.
Just read a policy from State Farm which states "B. We do not provide Liability Coverage for the ownership, maintenance or use of: ... 4. Any vehicle located inside a facility designed for racing, for the purpose of: a. Competing in; or b. Practicing or preparing for; any prearrange or organized racing or speed contest"
#37
Originally Posted by LVDell
Lewis, no way in hell would I insure for DE with a company like that. First red flag from their website:
The coverage you are requesting is from an insurance company that is not licensed in the United States of America or Canada.
This company is called a "non-admitted" or "surplus lines" insurer. This company is not subject to the financial solvency regulations and enforcements which apply to State, U.S. or Canadian licensed companies.
The insurance company does not participate in any of the insurance guarantee funds created by State, U.S. and Canadian law.
Therefore these funds will not pay your claim or protect your assets if the insurance company is unable to make payments as promised.For additional information, you should contact your insurance agent/broker, " surplus line" broker, the State Department of Insurance or Provincial Insurance Commission.
The coverage you are requesting is from an insurance company that is not licensed in the United States of America or Canada.
This company is called a "non-admitted" or "surplus lines" insurer. This company is not subject to the financial solvency regulations and enforcements which apply to State, U.S. or Canadian licensed companies.
The insurance company does not participate in any of the insurance guarantee funds created by State, U.S. and Canadian law.
Therefore these funds will not pay your claim or protect your assets if the insurance company is unable to make payments as promised.For additional information, you should contact your insurance agent/broker, " surplus line" broker, the State Department of Insurance or Provincial Insurance Commission.
#38
Nordschleife Master
Glen, I have no doubt that they have pain claims but you (not you personally, "you" in general) have got to be a gambling type to send your $$$ in to a company that has the above LEGAL DISCLAIMER. So the minute they realize they aren't making money anymore and then a potential flood of claims comes in they can just refuse to pay, pack up shop, and leave. Not a company I would ever do business with. Personally, I self insure. If at some point I am not comfy self-insuring the GT3 for my activities, then I need to either stop tracking it or move to something I can wad up into a wall and never look back with regret.
#39
Rennlist Member
Originally Posted by LVDell
Glen, I have no doubt that they have pain claims but you (not you personally, "you" in general) have got to be a gambling type to send your $$$ in to a company that has the above LEGAL DISCLAIMER. So the minute they realize they aren't making money anymore and then a potential flood of claims comes in they can just refuse to pay, pack up shop, and leave. Not a company I would ever do business with. Personally, I self insure. If at some point I am not comfy self-insuring the GT3 for my activities, then I need to either stop tracking it or move to something I can wad up into a wall and never look back with regret.
+1 That is why the GT3 is AutoX and the E46 M3 is a track car.
Peter
#40
Nordschleife Master
I will add that since I self-insure I make sure I am VERY familiar with the track I am running and know where the "trouble" spots are. It is in those spots where I lose time since I am deliberately taking caution. For example, T3 (NASCAR) and T6 (Snake) at VIR where many people have smacked the wall/armco! Most of the rest of the course if full of runoff.
#41
Originally Posted by Black Shadow
Bottom Line, READ THE POLICY.
It does not matter what the agent tells you, what matters is what the policy states.
Just read a policy from State Farm which states "B. We do not provide Liability Coverage for the ownership, maintenance or use of: ... 4. Any vehicle located inside a facility designed for racing, for the purpose of: a. Competing in; or b. Practicing or preparing for; any prearrange or organized racing or speed contest"
It does not matter what the agent tells you, what matters is what the policy states.
Just read a policy from State Farm which states "B. We do not provide Liability Coverage for the ownership, maintenance or use of: ... 4. Any vehicle located inside a facility designed for racing, for the purpose of: a. Competing in; or b. Practicing or preparing for; any prearrange or organized racing or speed contest"
As I read the quoted State Farm exclusion (which is slightly different than the State Farm exlusion in my possession), it does not apply to DEs.
Originally Posted by LVDell
If at some point I am not comfy self-insuring the GT3 for my activities, then I need to either stop tracking it or move to something I can wad up into a wall and never look back with regret.
Andy
#42
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+1 85 Gold. But e36 M3.
I looked into this extensively and there are a couple companies that will insure you for "on track incidents" but...Its like 1000/event for DE and 2k per for race. With a 10k deductible. Too rich for my blood. Then again, Laurel's deductible IRRC is higher.
Stuka, who did you switch to?
I looked into this extensively and there are a couple companies that will insure you for "on track incidents" but...Its like 1000/event for DE and 2k per for race. With a 10k deductible. Too rich for my blood. Then again, Laurel's deductible IRRC is higher.
Stuka, who did you switch to?
#43
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Originally Posted by LVDell
I will add that since I self-insure I make sure I am VERY familiar with the track I am running and know where the "trouble" spots are. It is in those spots where I lose time since I am deliberately taking caution. For example, T3 (NASCAR) and T6 (Snake) at VIR where many people have smacked the wall/armco! Most of the rest of the course if full of runoff.
#44
Originally Posted by Andy (Portland, OR)
In the event I'm held liable for killing or maiming someone, I'm prepared to lose my GT3, but not my other assets.
Andy
Andy
I'm prepared to lose my GT3 if I wad it up, but I'm not prepared to lose my other assets if I'm held liable for killing or maiming someone.