I sent an app to see what came of it. They contacted me and said they were having trouble getting a handle on the value of my Cup Car in order to substantiate my claimed value (they wanted to use the value of a standard '92 coupe), I gave them some places to look, then never heard back from them.

 

I've been dealing with Jean at WSIB over the past few weeks, in an attempt to get coverage before the upcoming Zone 2 VIR DE. She has been extremely pleasant, informative and responsive. They did not question my stated value of my 95 993 despite the well-over KBB value due to the mods on my car (covered value of $47,000). I also found the policy to be pretty comprehensive without the exclusions that worried many with other policies. However, I did ask for some clarification on the language regarding coverage for labor, as their policies apparently are geared more for racing teams where in-house labor costs would not be covered. I'm awaiting an ammended policy before I send my check, but feel that I've gotten very good service and information to date from WSIB. I'll update with the new info when available.

 

Chris-
I'll check into the insurers and keep you in the loop.
Thanks

.

Glenn-
Good luck with the policy. Keep us posted.
Thanks

.

 

Good luck if you ever need to make a claim. I will not mention the name of DE Insurance that I purchased, but it was hell getting paid, and then I only received 1/2 of what it would have cost to fix or replace the car. It was very unpleasant, I was treated very poorly and to be honest I will never bother with DE insurance again. We can discuss in private if you wish to have more details.

The incident occurred the last week of July (2006) and I was paid finally at the end of October. I had to beg a plead with these guys and I believe that they were intentionally stalling perhaps because of cash flow issues or they thought that I would just give up.

Drive a car on the track that you can afford to loose and be careful. Do not bother with DE Insurance.

 

Thanks for the reality check. This is my concern about all these DE insurers that come touting their policies. Once they collect your check who's to know what their actual claims paying ability/intent is? AAA ratings of the underwriters notwithstanding.

Like Chris, I too have a DE policy expiring in May this year and would like to have proper, enforceable coverage. But have not found any that's worthwhile. Agents who come to this forum selling their wares are by many measures just fly-by-night operators IMO...sell you a policy, then disappear, then coverage is discontinued, yada, yada, BS.

I'm looking into a straight, regular auto insurance that covers DE...explicitly...with a reputable insurer like, for example, Chubb. I don't mind paying the extra premium which I guess would still be less than the sum of a street policy and DE policy.

I'll post my findings and if you guys learn something new please share. Thanks...

 

I have on-track liability insurance through Chubb. Covers all DE and racing events. Does not cover the CAR, but covers anything else I may hit or damage, whether it be property or people.

 

Do they offer coverage for the CAR?

 

This may sound naive, but isn't that what the waivers are for?

 

No. Driver is financially responsible for any damage done to the track. Theoretically the waivers cover people except in cases of 'Gross Negligence'.

 

_____________
I am not signing up to be an interpreter, but I do read this stuff for a living. Now doesn't that sound like fun. Now you know why I need Track Days to survive. I have been working with PCA national to get some data to try a pilot program in Ohio. PCA does not recommend or promote any one policy but they gave me some names of people they have been working with to provide coverage. (below)

The program we are working on( Ohio) would be far differnt that what is avalable today. we are working on a pay as you go program. sign up for Property damage coverage for that particular event. (Like when you rent a car and they ask if you want the addtional coverage.)

I have not looked at the following programs at all yet. but hear it is.
+++++++++++++++++++++++++++++++
Brett Ross
Everitt Boles Intl, USA
630-215-5257--direct
www.everittboles.com
brett@everittboles.com

+++++++++++++++++++++++++++++++++

c.maume@prosure.net

++++++++++++++++++++++++++++++++++

Laura A. Hauenstein, CIC
President, WSIB Motorsports Insurance
Phone 866-904-9742, Ext. 2500
laurah@wsibinsurance.com
Cellular 419-302-6882
Fax 866-974-2329
++++++++++++++++++++++++++++++++++

 

Just received a quote from WSIB today, but have yet to review it.

 

Bull, please share your findings...I know you have a keen eye for reading the fine print.

 

I got a quote from those guys, $500.00/yr.

You are aware there is no 'Agreed Value' for you car? They use book or market value to determine what they will pay. This can leave many of us with older, develeoped cars with quite a short fall in coverage to value.

The guy I spoke to told me he would check into an 'Agreed Value' policy. Never heard back from him. Guess thats not happening.

 

Randy, not sure who "those guys" may be that you are referring to, but WSIB is agreed value coverage. They do want an appraisal for my car as they are having trouble verifying my suggested value. They based their quote on my stated value, pending an appraisal.

 

Has anybody considered a risk pool? In order to make it easier to administer, I'm thinking of defined premiums and payouts. Each member could buy as many units as they like. I know an actuary who could do the math but where do you find statistical data? I know PCA regions must file incident reports to national but is that data available? What about other clubs?