Recommendations for Race Car & Trailer Insurance

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Recommendations for Race Car & Trailer Insurance

Post by Corky » Mon Apr 29, 2013 1:13 pm

Can anyone recommend a company for Race Car & Trailer insurance.

I've had a quote from REIS (£65 for the car and £108 for the trailer + taxes etc. = £206). This for all risks whilst in transit or storage and the car is not under its own power. The car is not road legal (+ I don't want to tax and MOT it), so a standard classic car policy is no good to me.

4Counties will do trailer only insurance but not the car and OAMPS were a bit expensive, as they assume I'm insuring a car worth up to £25K :shock:

I'm struggling to find many more companies, can anyone point me towards one ?


Steve
Current:- SS1 Ti RG sprint car. VW Touareg 3.0 V6
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Re: Recommendations for Race Car & Trailer Insurance

Post by swoakes » Mon Apr 29, 2013 1:26 pm

I can't help Steve but I did check that my RR is insured whilst towing which it is. This was the response from Lancaster

"Dear Sir,

Thank you for your email, we confirm that your policy covers you for towing providing that your driving licence allows this.

Please note this cover is for third party only whilst attached to your vehicle and therefore there is no cover for damage or loss to the trailer/caravan/boat etc that is being towed. There is no cover at all for the trailer etc when unattached."

Response does not make total sense; are they saying that the RR is only covered third party when it is towing? Also as the Sabre is road going it also has insurance (Lancaster again); if it were damaged whilst being towed by the RR would it be covered?

I hate insurance :!:


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Re: Recommendations for Race Car & Trailer Insurance

Post by CNHSS1 » Mon Apr 29, 2013 1:27 pm

secton in the blue book Steve


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Re: Recommendations for Race Car & Trailer Insurance

Post by scimjim » Mon Apr 29, 2013 1:35 pm

Steve C - you haven't actually said what insurance you want? if you want to insure the car on a track, blue book as Craig says. The trailer and contents should be insured under the car insurance when it's on tow and providing there's no small print - it's insured under your house insurance in the garage, so that just leaves the car when it's in the garage? not sure if you can still get it but I used to have F&T insurance on a kit car that wasn't T&T in my garage?


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Re: Recommendations for Race Car & Trailer Insurance

Post by scimjim » Mon Apr 29, 2013 1:37 pm

swoakes wrote:I can't help Steve but I did check that my RR is insured whilst towing which it is. This was the response from Lancaster

"Dear Sir,

Thank you for your email, we confirm that your policy covers you for towing providing that your driving licence allows this.

Please note this cover is for third party only whilst attached to your vehicle and therefore there is no cover for damage or loss to the trailer/caravan/boat etc that is being towed. There is no cover at all for the trailer etc when unattached."

Response does not make total sense; are they saying that the RR is only covered third party when it is towing? Also as the Sabre is road going it also has insurance (Lancaster again); if it were damaged whilst being towed by the RR would it be covered?

I hate insurance :!:
I'd be very worried about that?


Jim King

Current: SE5 (8Ball), TI SS1 (snotty), 1600 SS1 (G97), 1600 SS1 (C686CCR), 2.5TD SE5a (diesel 5a), 6 x random other SS1s.
Previous: SE5, 3 x SE5a, 2 x SE6a, 3 x SE6b, GTC, 2.9i GTC, 3 x 1600 SS1, 1300 SS1, Mk1 Ti Sabre, Mk1.5 CVH Sabre
Chief mechanic for: 1400 K series SS1 (Megan3), 1400 CVH EFi SS1 (Grawpy), Sabre/MX5 auto (The Flying Broomstick),
1300 SS1 (Number One) & Sarah's coupe.
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Re: Recommendations for Race Car & Trailer Insurance

Post by Roger Pennington » Mon Apr 29, 2013 1:53 pm

swoakes wrote: Please note this cover is for third party only whilst attached to your vehicle and therefore there is no cover for damage or loss to the trailer/caravan/boat etc that is being towed. There is no cover at all for the trailer etc when unattached."

Response does not make total sense; are they saying that the RR is only covered third party when it is towing? Also as the Sabre is road going it also has insurance (Lancaster again); if it were damaged whilst being towed by the RR would it be covered?

I hate insurance :!:
I'd read that as saying that the cover *for the trailer etc* is only third party, and that therefore the trailer and it's contents themselves aren't covered. In other words if the trailer breaks free and hits someone elses car, you'll be covered for damage to them, but not for any damage or loss to the trailer or contents.


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Re: Recommendations for Race Car & Trailer Insurance

Post by Corky » Mon Apr 29, 2013 2:04 pm

scimjim wrote:Steve C - you haven't actually said what insurance you want? if you want to insure the car on a track, blue book as Craig says. The trailer and contents should be insured under the car insurance when it's on tow and providing there's no small print - it's insured under your house insurance in the garage, so that just leaves the car when it's in the garage? not sure if you can still get it but I used to have F&T insurance on a kit car that wasn't T&T in my garage?
Basically as I was quoted for :-
scimitarcars.org.uk wrote:
I've had a quote from REIS (£65 for the car and £108 for the trailer + taxes etc. = £206). This for all risks whilst in transit or storage and the car is not under its own power. The car is not road legal (+ I don't want to tax and MOT it), so a standard classic car policy is no good to me.
This seems to be a pretty standard race car & trailer type policy. So whilst the car is in storage/transit/track it's covered for fire/theft/damage whilst not under its own power, the trailer is pretty much the same, though obviously not powered :lol:

My motor insurance policy covers me to tow the trailer and they will pay for any damage I cause with it, however the third party limitation kicks in and they won't pay for damage/theft/fire to my trailer or load. My understanding is that this is pretty much what all car policies provide that allow towing.


Steve
Current:- SS1 Ti RG sprint car. VW Touareg 3.0 V6
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Re: Recommendations for Race Car & Trailer Insurance

Post by Corky » Mon Apr 29, 2013 2:05 pm

CNHSS1 wrote:secton in the blue book Steve
Cheers, I'll have a look.


Steve
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Re: Recommendations for Race Car & Trailer Insurance

Post by CNHSS1 » Mon Apr 29, 2013 2:11 pm

competition car insurance offered insurance for trailer away from home which could include tools, spare wheels etc if you wanted and would do race cars in transit only, iin transit plus away from home or full to include everything bar being driven in anger.

its possible to insure the car during the event in action but was hundreds per day. Fine if you have a car worth 100 grand but pit pointless on any of Tamworths finest


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Re: Recommendations for Race Car & Trailer Insurance

Post by Corky » Mon Apr 29, 2013 2:20 pm

Yes the on-track insurances are pretty high and not really a consideration.

When you consider what the trailer are car are worth, I think it's prudent to insure them against some scrote stealing them or driving into them whilst in transit. When you think about how nickable a trailer is when unattended at an event, or attached to your car in a hotel car park, the premium makes sense.

I've just had another couple of quotes and I think I'm going to go with REIS. Not the cheapest, but they don't insist on micro-dotting or data-tagging like some of the others do. I can also cancel Sept/Oct and get some money back at the end of the season :wink:


Steve
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Re: Recommendations for Race Car & Trailer Insurance

Post by Roger Pennington » Mon Apr 29, 2013 2:22 pm

CNHSS1 wrote: its possible to insure the car during the event in action but was hundreds per day. Fine if you have a car worth 100 grand but pit pointless on any of Tamworths finest
Craig, depending how your sponsorship deal is set up, it might be worth looking at if your sponsor could regard it as a business expense to protect their investment, so they don't lose the exposure they've paid for, if you happen to stick it in the armco? :wink:


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Re: Recommendations for Race Car & Trailer Insurance

Post by gerrynj » Mon Apr 29, 2013 4:57 pm

have you looked at your tow vehicles insurance policy? The minute I hook up my trailer to my
tow vehicle, the tow vehicles insurance covers the trailer and anything on it. It's an additional
rider to my regular insurance (and it's a nominal amount). I have 3 different trailers and each
is covered 'as long as they are attached to the tow vehicle'; My house insurance covers the
items when the are on my property. The only time they are not covered is when the trailer(s)
are disconnected from tow vehicle and away from home (which is never....)

Gerry



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Re: Recommendations for Race Car & Trailer Insurance

Post by Corky » Mon Apr 29, 2013 4:59 pm

gerrynj wrote:have you looked at your tow vehicles insurance policy? The minute I hook up my trailer to my
tow vehicle, the tow vehicles insurance covers the trailer and anything on it. It's an additional
rider to my regular insurance (and it's a nominal amount). I have 3 different trailers and each
is covered 'as long as they are attached to the tow vehicle'; My house insurance covers the
items when the are on my property. The only time they are not covered is when the trailer(s)
are disconnected from tow vehicle and away from home (which is never....)

Gerry
Thanks Gerry, yes I have but it's 3rd party cover only.


Steve
Current:- SS1 Ti RG sprint car. VW Touareg 3.0 V6
Prev:- Sabre Ti, 3xSS1 Ti, SS1 16v Turbo Racer, 5XGTC, 2XSE6B, 2XSE5A, 2XV6 Coupe, Sabre 6
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Re: Recommendations for Race Car & Trailer Insurance

Post by scimjim » Mon Apr 29, 2013 5:11 pm

Have you asked your current insurer for a quote though?


Jim King

Current: SE5 (8Ball), TI SS1 (snotty), 1600 SS1 (G97), 1600 SS1 (C686CCR), 2.5TD SE5a (diesel 5a), 6 x random other SS1s.
Previous: SE5, 3 x SE5a, 2 x SE6a, 3 x SE6b, GTC, 2.9i GTC, 3 x 1600 SS1, 1300 SS1, Mk1 Ti Sabre, Mk1.5 CVH Sabre
Chief mechanic for: 1400 K series SS1 (Megan3), 1400 CVH EFi SS1 (Grawpy), Sabre/MX5 auto (The Flying Broomstick),
1300 SS1 (Number One) & Sarah's coupe.
CURE THE FAULT - NOT THE SYMPTOMS

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Re: Recommendations for Race Car & Trailer Insurance

Post by Corky » Mon Apr 29, 2013 5:45 pm

scimjim wrote:Have you asked your current insurer for a quote though?
They don't offer comprehensive cover for the trailer and load, it's complimentary 3rd party only. I've rang a few of the big companies, and they all categorically stated that they don't cover trailers, caravans or loads with fully comprehensive insurance. It's fully comp on the car, and 3rd party liability only on what you're dragging behind it.

I think the issue is that they can't quantify the risk, so defer to the specialist brigade. Fair enough I suppose, as it's not their bread butter.

The story I'm getting is that if you have a car transporter and carry cars on it, you need a specific policy for it if you want comprehensive cover. I can get trailer insurance, and I can get race car insurance (not covered whilst actually racing though), or I can get a combination of the two with a slight discount.

So, by far the best way of getting the cover I need is to go for a combined Race Car and Trailer "Storage/Transit/Event" non-racing policy. The problem is that not may companies do this, so getting a few quotes for comparison is difficult.


Steve
Current:- SS1 Ti RG sprint car. VW Touareg 3.0 V6
Prev:- Sabre Ti, 3xSS1 Ti, SS1 16v Turbo Racer, 5XGTC, 2XSE6B, 2XSE5A, 2XV6 Coupe, Sabre 6
Project Threads & YouTube

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