Hex

So I'm starting the paperwork for the Clubsport and Porsche says they want $5,000,000 of general liability to do the financing. Have any of you guys had to deal with this and if so, what did it entail?

scott40

You can get a $5M personal liability umbrella from many insurers for $1500 or less a year. It sounds like that would suffice.

thuggo

?

Porsche is willing to finance a Clubsport?

zip465

Yep, financing options were presented to me when I bought my '16 MR. If memory serves terms were not that good.

thuggo

Crazy always thought no one would finance a race car since there isn't a title.

Hex

So I found affordable insurance for when I do hpde's but the coverage I found for when I want to club race is astronomical. Anyone know a source for reasonable competition insurance?

zmon

wow financing a race car! this is a new one for me. would really suck to have a racing incident and still owe a boat load.

38D

Every policy I’ve ever seen or heard about is very expensive with a high deductible. typical premium is 10% of the value with a 20% deductible. Unless you do like one race in a car you can’t afford to walk away from, you are way better off “self insuring” IMO.

scott40

My friend and I always self insured when club racing. If something major happens, it can get very expensive.

Nizer

Welcome to racing. See below...

Hex

What do you mean by self insuring?

Hex

I'm going to just concentrate on track days in my Clubsport for now and I need to get 5M general liability coverage. Does anyone know where I can secure this?

thuggo

I'll be honest....I don't know if I'd finance one of these.....

LZRD GRN

I use Chubb...

scott40

your wallet is your insurer!