QC insurance - DE status
04-13-2013 | 04:27 PM
#31
Rennlist Member
Joined: Mar 2006
Posts: 1,486
Likes: 72
From: Montreal, Canada
Good info Matt. Thanks for sharing this.
For further certainty on the matter, and because insurance companies are a lot slimier than anyone would like to believe, I would recommend sending them a written notice a couple of days before attending every DE. Like this they cannot back out on the basis of aggravation of risk.
It is also critical to advise the insurance on EVERY single alteration, modification or add-on to the car. I would make an exhaustive list of these, right down to cigarette lighter dummy plugs. End your list and letter to them with a request to advise you if these modifications pose any problem to their coverage.
I may elaborate on this on a separate thread as it stems from my recent experience.
For further certainty on the matter, and because insurance companies are a lot slimier than anyone would like to believe, I would recommend sending them a written notice a couple of days before attending every DE. Like this they cannot back out on the basis of aggravation of risk.
It is also critical to advise the insurance on EVERY single alteration, modification or add-on to the car. I would make an exhaustive list of these, right down to cigarette lighter dummy plugs. End your list and letter to them with a request to advise you if these modifications pose any problem to their coverage.
I may elaborate on this on a separate thread as it stems from my recent experience.
It's official - I've left TD Meloche Monnex for the Guarantee Company. Please read this in conjunction with my initial thread.
I had a few more calls with TD, and was able to verbally confirm I was in fact covered for PCA DE. The surprise was that they wanted to double my premium prospectively for the priviledge. Which begs the question: Since on multiple previous occasions, I was told I was already covered for PCA DE, why the jacked premium now? And if it's twice as expensive, was I ever really covered in the first place?
The agent was actually helpful and informed, and able to access my original application (from over 5 years ago). He did note their documentation re. "car clinics". Their words, not mine. He believes that the original agent did not follow through sufficiently in defining the "car clinic", and had they done so, the risk rating would have been higher. He maintains I would have been covered nonetheless, since the lack of rigour was on them.
Hmmm...
I shopped Chubb (agreed valiue) and Guarantee (QEF 19, with evaluation) and was able to get coverage that specifically includes PCA DE for not a penny more than I had been paying previously with TD.
Chubb is in a class of its own (at a price to match), and Guarantee is likewise marketing specifically to higher end homes and cars.
For an unchanged premium, I now have:
- A documented $60K figure in my contract
- Acceptance of a third party evaluation as the starting point for any loss determination
- Coverage for DE, in writing, from the agent that sold the policy
Worked out pretty well for me, perhaps something to consider if you have a car that is morphing away from stock components and/or holding its value and/or seeing progressively more track time.
Best,
Matt
I had a few more calls with TD, and was able to verbally confirm I was in fact covered for PCA DE. The surprise was that they wanted to double my premium prospectively for the priviledge. Which begs the question: Since on multiple previous occasions, I was told I was already covered for PCA DE, why the jacked premium now? And if it's twice as expensive, was I ever really covered in the first place?
The agent was actually helpful and informed, and able to access my original application (from over 5 years ago). He did note their documentation re. "car clinics". Their words, not mine. He believes that the original agent did not follow through sufficiently in defining the "car clinic", and had they done so, the risk rating would have been higher. He maintains I would have been covered nonetheless, since the lack of rigour was on them.
Hmmm...
I shopped Chubb (agreed valiue) and Guarantee (QEF 19, with evaluation) and was able to get coverage that specifically includes PCA DE for not a penny more than I had been paying previously with TD.
Chubb is in a class of its own (at a price to match), and Guarantee is likewise marketing specifically to higher end homes and cars.
For an unchanged premium, I now have:
- A documented $60K figure in my contract
- Acceptance of a third party evaluation as the starting point for any loss determination
- Coverage for DE, in writing, from the agent that sold the policy
Worked out pretty well for me, perhaps something to consider if you have a car that is morphing away from stock components and/or holding its value and/or seeing progressively more track time.
Best,
Matt
Last edited by DHI; 04-13-2013 at 04:44 PM.
04-13-2013 | 04:41 PM
#32
Drifting
Joined: Apr 2006
Posts: 2,300
Likes: 3
From: QC, CA / Abaco BS
Good advice.
Being my driving skills are very limited, when I went from my 993TT to the RS it took me several events to just get comfortable with the new car and I'm still enjoying the learning "curve"....
04-13-2013 | 06:07 PM
#33
Thread Starter
Rennlist Member
Joined: Mar 2006
Posts: 4,463
Likes: 196
From: Montreal, QC
Good info Matt. Thanks for sharing this.
For further certainty on the matter, and because insurance companies are a lot slimier than anyone would like to believe, I would recommend sending them a written notice a couple of days before attending every DE. Like this they cannot back out on the basis of aggravation of risk.
It is also critical to advise the insurance on EVERY single alteration, modification or add-on to the car. I would make an exhaustive list of these, right down to cigarette lighter dummy plugs. End your list and letter to them with a request to advise you if these modifications pose any problem to their coverage.
I may elaborate on this on a separate thread as it stems from my recent experience.
For further certainty on the matter, and because insurance companies are a lot slimier than anyone would like to believe, I would recommend sending them a written notice a couple of days before attending every DE. Like this they cannot back out on the basis of aggravation of risk.
It is also critical to advise the insurance on EVERY single alteration, modification or add-on to the car. I would make an exhaustive list of these, right down to cigarette lighter dummy plugs. End your list and letter to them with a request to advise you if these modifications pose any problem to their coverage.
I may elaborate on this on a separate thread as it stems from my recent experience.
Belt and Suspenders for me.
PS - when time is right, I think folks would benefit from you sharing your experience.
Best,
Matt
04-13-2013 | 06:12 PM
#34
Race Car
Joined: Sep 2005
Posts: 3,741
Likes: 18
From: Montreal
We will discuss over beer in May.
Last edited by Dwane; 05-01-2013 at 11:31 AM.
04-13-2013 | 06:47 PM
#35
Drifting
Joined: Apr 2006
Posts: 2,300
Likes: 3
From: QC, CA / Abaco BS
04-14-2013 | 01:24 AM
#36
Race Car
Joined: Sep 2005
Posts: 3,741
Likes: 18
From: Montreal
Another of the RennSpoon founders is in the final stages of acquiring a track only car....Can't wait to chat and see what's floating around in your head.
04-15-2013 | 02:37 PM
#37
Rennlist Member
Joined: Dec 2005
Posts: 1,297
Likes: 13
From: Ottawa
If you are after a 944 type Ivano has one if its a 911 type well you know I have one.
04-15-2013 | 03:29 PM
#38
Addict
Rennlist Member
Rennlist Member
Joined: Mar 2009
Posts: 2,193
Likes: 0
From: Montreal
http://www.944challenge-canada.com/
Relatively speaking cheap track cars with the flatout factor included in the price. No expensive and beautiful toys like those GT3 cars to crash...
There are 24 Quebec drivers with a car to race in our serie. And about at least 15 cars in Ontario, if not more.
We expect to have at least 22 racers per event, and in some, maybe 30 cars in the same class...
Sometimes I wish I could be on the side of the track and watch a start...
c.
Relatively speaking cheap track cars with the flatout factor included in the price. No expensive and beautiful toys like those GT3 cars to crash...
There are 24 Quebec drivers with a car to race in our serie. And about at least 15 cars in Ontario, if not more.
We expect to have at least 22 racers per event, and in some, maybe 30 cars in the same class...
Sometimes I wish I could be on the side of the track and watch a start...
c.
04-21-2013 | 08:15 PM
#41
Rennlist Member
Joined: Nov 2006
Posts: 1,829
Likes: 59
From: Montreal
Calvino, you selling the 993? Can you make it look a bit more like a Honda so i can race it and sponsor myself?
*edit: before you smarty pants say something clever, it already has a huge *** spoiler right? Halfway to a civic...and it's likely worth 20hp!
**double edit: my ciciv has NO spoiler. Just saying.
*edit: before you smarty pants say something clever, it already has a huge *** spoiler right? Halfway to a civic...and it's likely worth 20hp!
**double edit: my ciciv has NO spoiler. Just saying.
04-22-2013 | 02:35 PM
#42
Rennlist Member
Joined: Dec 2005
Posts: 1,297
Likes: 13
From: Ottawa
Calvino, you selling the 993? Can you make it look a bit more like a Honda so i can race it and sponsor myself?
*edit: before you smarty pants say something clever, it already has a huge *** spoiler right? Halfway to a civic...and it's likely worth 20hp!
**double edit: my ciciv has NO spoiler. Just saying.
*edit: before you smarty pants say something clever, it already has a huge *** spoiler right? Halfway to a civic...and it's likely worth 20hp!
**double edit: my ciciv has NO spoiler. Just saying.
