| Author | Message | ||
| Martin (Miami348ts)
|
DEMON, ehy....  | ||
| Matt Karson (Squidracing)
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Martin, you raise a good point. Most life insurance policies will not cover death or dismemberment caused by a high risk activity. And yes, I agree that you must be able to walk away from the car if you total it in a terrible incident. As I dont drive my car on the street, I have decided that my next track car will be a full blown Trans Am Series car. Possibly the Jaguar bodied one. Take off the front right corner, put a new one back on for $2,000. Take out the stock 750 HP motor and put in a crate 500 HP motor, pushrods and all. Rebuild on that will be $3,000. Easier to rebuild, and easier to walk away from. AND A SCREAMING DEMON ON THE TRACK!!!!!!!!!! | ||
| David Harris (Dakharris)
|
For the record, Progressive is rated A+XV (almost the top) and 21st Century is rated A+IX and is owned by AIG. My comments were more directed to coverage, claims and service rather than financial strength of the carrier. If you read my bio, I'm an insurance broker. Therefore, I have strong opinions about service. Simply put, you can buy from a direct writer and get a cheaper price, but look out if you have a claim or some other incident where a human gets involved. You wouldn't have Goober Pyle do your 30K service, so why would you buy your insurance from him? | ||
| William H (Countachxx)
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Martin, I'll take u up on that offer. SInce u didnt specify US$ I imagine u have no problem accepting 100,00 Chinese Yuan, or 100,000 Bolivars or Rubles  LOL | ||
| Martin (Miami348ts)
|
Matt; coming back to an earlier discussion....when you have a total loss on the track your problems are not necessarily the car but your hospital bills or how good your life insurance covers you on the track. That may not be covered by your life insurance BTW. I agree with taking insurance but after all if you track your car and drive on the limit you better have the financial capabilities to sustain a full blown hit. I do not think you can have both on the track. Security and driving on the edge! | ||
| Matt Karson (Squidracing)
|
David, I do have to agree that it is high risk business, but don't think for a moment that it hasn't been analyzed in a microscopic manner. The insurance companies actuarial staffs, have crunched enough numbers, and come up with the formula which will make it a profitable business for them to be in. There is no reason to cannonize this industry. Casinos were not built to give away house money, and insurance companies are not making money by having the odds against them. Having said all that, I have contacted Greg Ohner in the past. A policy that would cover me for 30 or so track days, when taking the deductable and premiums and restrictions into account, was absurdly expensive. Really, the question at that point you must ask yourself is whether you can handle a total loss of your car. If it is anthing other than a total loss, I could not rationalize going with his policy. My solution to this was to insure my car for fire and theft. A quick sidenote: AIG is not the only highly rated company out there. Seeing in your bio that you are involved in the insurance business, I am suprised you would refer to Century 21 as a horsesh*t operation. I do not know the company, but are they as bad as you say? For the record, I was at a driving school at Bridgehampton, (years ago) had an incident which destroyed my car, and Geico completely covered the claim. Of course, this was a school, and the car I had was not a full blown challenge car, with no street application whatsoever. I do hear that isurance companies are cracking down on any claims having to do with driving schools. | ||
| Martin (Miami348ts)
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Hey William; I will insure your car. $110,000 premium! :-))) | ||
| David Harris (Dakharris)
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Think about it guys. Insuring amateurs in exotic cars on a race track is absurd. Insuring professionals on a track is crazy, but Acordia does it. Any insurance company willing to do it has big brass ones and deserves all the premium they charge. Greg Ohner of Acordia (a broker) has a program with AIG (insurance carrier)rated A++XV (the highest possible rating)for "special interest" cars. It's flexible. You have to call him and tell him what you want. He will tell you what he can and can't do and what it will cost. Contact him at (800)648-1600 or [email protected] Greg is a past president of the FCA-Pacific Region and knows Ferraris. None of you would run reclaimed oil in your crankcases, so why would you insure your car with a horseshitake mushroom outfit like some mentioned on this site? | ||
| William H (Countachxx)
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I left a call on Greg's answering machine so I should have a quote soon. I suppose Greeg may b more expensive than Progressive but I doubt Progressive will cover track days | ||
| Lawrence Michaels (Lxmichaels1)
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Guys, I'm not sure if C21 will cover in your states. http://www.i21.com/default.cfm Take a look. >> Larry | ||
| Matt Karson (Squidracing)
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I have called Greg Ohner in the past, and his prices were absurd. William, I would suggest not wasting your time with them. I have similar questions as William. I would very much like info with 21st Century as well. Do they cover track driving? If you have a contact name and phone number for 21st Century, I too would appreciate it. | ||
| William H (Countachxx)
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Lawrence do u have Greg's phone # or e-mail handy ? Does 21st C cover any damage at track events ? Thanks | ||
| Lawrence Michaels (Lxmichaels1)
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William, This guy is in San Francisco, I talked to him for a quote for my 348. He offered one of the higher(significantly)priced quotes that I had. So far the best rates are with 21st Century. Good Luck | ||
| William H (Countachxx)
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Looking for a policy to cover my toys at the track. I know Greg Ohner sells insurance but I forget if it was his own Co or Accordia. ANy1 know? Also any1 have experience insuring their car here ? Thanks |