roberga

black shadow: those words do not exclude DEs. As you said they are very careful to explain what they do not cover. 90% of the tracking I do fall outside their discription

Glen

Actually not much of a gambler. Just wanted You guys to know that these are the only 2 remaining options I know of. In regards to the Laurel verbage it has always said that and I guess always will. I can speak for 20 or so examples of payment in race crashes both PCA and Pro that they have covered each time. Currently dont know of any other options as a racer, however there may be some as a DE'r, just not sure.

teamb2

Quote:
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.


LV, they pay claims and have a great reputation in the racing community for paying on their race insurance. Just FYI. Peter Sereda handles the Race Insurance(is at Daytona now)and Epringham handles the DE side. Another option is Greg Loles of Farnbacher Loles has an additional race insurance option, not sure on the DE side but likely available for that also. Through Allianz of Germany if I remember correctly.





I know nothing about this company but non admitted and surplus lines insurance companies are very common and most are good. Lloyds of London is a good example. Most major "admitted" insurance companies also have "non-admitted" companies for certain risks as well. It allows them to have more flexibility on coverage and rates without having to file and lobby every state that has to approve them before they can offer the cover. Their not participating in the "guarantee fund" with a state also means you don't have to pay that tax on their premium as well. Ask some people how easy it is to collect from a government run "guarantee fund" when their underfunded insurance company went out of business.

Most important would be to check on their financials.

LVDell

You missed my previous point which I stand by 100%. The fact they if they get in too deep (ie, rash of claims) they have ever chance, and would, bail since they are NOT bound by the laws of the US or Canada. I have no doubt they pay their claims (right now), but rather it is the future that worries me.

That is a risk I am not going to take.

TT Surgeon

Dell, I hear you, but the problem with self insuring isn't so much with wadding up your car, it's the liability of 'others' involved and your hard earned assets. I still plan to take my TT to the track, but far less than in the past, partly due to insurance issues.
C

Horizontally Opposed Man

First on LaurelDE I have had experience with them and they were just super in every respect .I'm sure they are very professional about their business .I'm not concerned about them not being admitted anywhere.I believe they also have an insurance program for racing that has also been around for a good long while.Their Rep; Dave Epringham Placed fifth in the GT clas at Rolex!!
Secondly be clear about the Liability Issue; Laurel DE doesn't offer this kind of coverage they only cover damage to your car. Cheers HOM

brutus143

I work for Travelers Ins Co. and it really doesnt matter what the policy says, its all up to the individual adjuster you get. Thats all Im saying

Black Shadow

Spoke to the Agent who confirmed with State Farm, they WILL cover DE days (Do not take my word for it, but check your own policy) provided it falls outside the disciption of "competing in or practicing or preparing for any prearranged or organized racing or speed contest"
Sorry for the delay, just spoke to him today.