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    Insuring your racecar

    This was a topic i started on SpecialStage. Some great information has come and I suggest everyone who uses a car in motorsports to check out.

    http://www.specialstage.com/forums/s...ad.php?t=35367
    1992 Ultra Blue Metallic EGT - The 'scort with no name - crap>reliable daily>rallycross prep>stage rally
    Featured in Rally Gearbox Magazine 3/1/11
    "There's a hierarchy of insanity in motor sports. Normal people think all racers are crazy. Folks who race sedans think people in open-wheel cars are nuts. People who race cars of any kind think motorcycle racers are absolutely off theirs meds. But there's one group that everyone agrees is made up of the most extreme, the most daring, and absolutely craziest people in racing - rally racers."

    #2
    apparently insurers have spies that seek out people at autox, track days, drag strips, etc so they can cancel your policy. it happened to a guy on miataturbo recently.

    Escort GTR -- 11.87 @ 117.6 mph -- 320 HP / 325 Ft. Lbs. @ 23 PSI
    ... The first FWD BG with a Toyota E153 transmission conversion in the USA!
    Looking for BP x Toyota E153 adapter plates? PM me or contact me on Facebook: Riel Performance Parts

    Comment


      #3
      Wow, reading some of those rates is insane. I pay $1200/yr for the Escort and Protege EACH and $2000 for the Mazdaspeed even though I am listed as the only driver for all of these cars. That's $4400 of insurance and the Protege and Escort don't have collision. There is no way to consolidate all these cars under 1 coverage. And one more detail, that is WITH 40% discount because I have 8 years of no claims. THIS is why I only insure the Protege for the winter - I just can't stomach the BS costs around here.

      Comment


        #4
        holy crap

        my rates just dropped a bit, i currently pay about $500 a year for my truck. the escort will probably be about the same when i put it back on my policy in the spring.
        Escort GTR -- 11.87 @ 117.6 mph -- 320 HP / 325 Ft. Lbs. @ 23 PSI
        ... The first FWD BG with a Toyota E153 transmission conversion in the USA!
        Looking for BP x Toyota E153 adapter plates? PM me or contact me on Facebook: Riel Performance Parts

        Comment


          #5
          Sheeeez Lex seems like you might profit from shopping around. Or at least go to your carrier direct and bypass your agent and see if there are any cheaper options. I just learned this when I went straight to Progressive to redo the ins. on my business vans. Although I told my local agent all about the move we did 3 freaking years ago, the main office still had my old zipcode as the garage address, and still thought I was single. Updating those 2 items cut my bill by 40%. Yeah. I'm somewhat pissed off at my not so helpful local agent.
          As for racecar insurance....Seems like, it's "don't ask, don't tell".
          '90 AWD Protege, full GTR drivetrain swap, ~320 whp daily driver, RIP, and
          '90 AWD Protege, yet another GTR swap, Open class rallycar with a Toyota GT4 gearbox swap, thus crossing the line between hobby and mental illness. And a Brabus E55 K8, removing all doubt.
          http://www.wihandyman.com/forum/vbpi...?do=view&g=110
          http://www.cardomain.com/ride/2599486

          Comment


            #6
            It's different here in BC. We have one insurance monopoly company for the liability and the optional stuff you can shop around for but the rates aren't any better. Welcome to living in Canada on the west coast.

            Comment


              #7
              That sucks, man. And they wanna do the same to our health insurance. Monopolies are bad, mkay?
              '90 AWD Protege, full GTR drivetrain swap, ~320 whp daily driver, RIP, and
              '90 AWD Protege, yet another GTR swap, Open class rallycar with a Toyota GT4 gearbox swap, thus crossing the line between hobby and mental illness. And a Brabus E55 K8, removing all doubt.
              http://www.wihandyman.com/forum/vbpi...?do=view&g=110
              http://www.cardomain.com/ride/2599486

              Comment


                #8
                Originally posted by Lex View Post
                It's different here in BC. We have one insurance monopoly company for the liability and the optional stuff you can shop around for but the rates aren't any better. Welcome to living in Canada on the west coast.
                can u get someone like StateFarm from the states..?
                1992 Ultra Blue Metallic EGT - The 'scort with no name - crap>reliable daily>rallycross prep>stage rally
                Featured in Rally Gearbox Magazine 3/1/11
                "There's a hierarchy of insanity in motor sports. Normal people think all racers are crazy. Folks who race sedans think people in open-wheel cars are nuts. People who race cars of any kind think motorcycle racers are absolutely off theirs meds. But there's one group that everyone agrees is made up of the most extreme, the most daring, and absolutely craziest people in racing - rally racers."

                Comment


                  #9
                  Originally posted by worldhazard View Post
                  can u get someone like StateFarm from the states..?
                  Nope, can't insure a car in a different country

                  Healthcare is a different topic - but I have been satisfied with the system here so far ...

                  Comment


                    #10
                    Originally posted by Lex View Post
                    Welcome to living in Canada on the west coast.
                    Sadly it's not just BC. I guess they figure than since in Canada there are less cars on the road therefore less things to hit/hit you they should charge higher premiums.

                    My truck ('07) with full coverage (including replacement value) is $110/mo. The miata is $110/mo for bare bones basic coverage. When I had the 323 I asked what my rates would be if I bought an "identical 323 but with a factory turbo" they said it was uninsurable as there was never such an engine in 323's only 1.6l's. I guess they forgot about the 25 anniv 323 (b8) since this is Canada. A MSP on the other hand is a normal insurable car according to them.

                    They also say when I take coverage off a car (say for the winter) I can't put it back on for 45 days. This is so people don't just insure a car for a day to drive it somewhere and back, they say.

                    Comment


                      #11
                      Originally posted by inferno94 View Post
                      Sadly it's not just BC. I guess they figure than since in Canada there are less cars on the road therefore less things to hit/hit you they should charge higher premiums.

                      My truck ('07) with full coverage (including replacement value) is $110/mo. The miata is $110/mo for bare bones basic coverage. When I had the 323 I asked what my rates would be if I bought an "identical 323 but with a factory turbo" they said it was uninsurable as there was never such an engine in 323's only 1.6l's. I guess they forgot about the 25 anniv 323 (b8) since this is Canada. A MSP on the other hand is a normal insurable car according to them.

                      They also say when I take coverage off a car (say for the winter) I can't put it back on for 45 days. This is so people don't just insure a car for a day to drive it somewhere and back, they say.
                      They just charge us something like a $75 fee to take out a new policy - so I just use storage insurance during the winter because that way I don't take out a new policy, I just change it ...

                      Comment


                        #12
                        that always gets me... to an insurance agent, putting even a small turbo on your car = "z0mg racer crash flames die ahhhHH!!!!" .... but you can go buy the same car with a factory turbo and its fine.

                        luckily my grandmother is my insurance agent lulls
                        Escort GTR -- 11.87 @ 117.6 mph -- 320 HP / 325 Ft. Lbs. @ 23 PSI
                        ... The first FWD BG with a Toyota E153 transmission conversion in the USA!
                        Looking for BP x Toyota E153 adapter plates? PM me or contact me on Facebook: Riel Performance Parts

                        Comment


                          #13
                          Originally posted by Lex View Post
                          They just charge us something like a $75 fee to take out a new policy - so I just use storage insurance during the winter because that way I don't take out a new policy, I just change it ...
                          I have that too. What I actually do is like storing insurance but there is no benefit if the car is damaged. I "suspend coverage" this costs nothing but sometimes they screw up and decide I have to pay the amount from when I suspended it till the policy renews in the short time till renewal. A little arguing and its fixed.

                          I'm changing to my fiance's company when we get married this summer, hers offered a better rate, less restrictions and the being married discount (which my company says they wont do).

                          Comment


                            #14
                            Originally posted by therieldeal View Post
                            that always gets me... to an insurance agent, putting even a small turbo on your car = "z0mg racer crash flames die ahhhHH!!!!" .... but you can go buy the same car with a factory turbo and its fine.

                            luckily my grandmother is my insurance agent lulls
                            They told me a supra was uninsurable as well, funny thing was an fd rx7 was cheaper to insure for me than an mx3 or 3rd gen pro. The miata is cheaper than the 323 was too, my dad can't figure out how a sports car has lower insurance than an econobox but whatever.

                            Comment


                              #15
                              all i have to say is screw canada... hell they wouldn't even let me in in the 1st place.
                              1992 Ultra Blue Metallic EGT - The 'scort with no name - crap>reliable daily>rallycross prep>stage rally
                              Featured in Rally Gearbox Magazine 3/1/11
                              "There's a hierarchy of insanity in motor sports. Normal people think all racers are crazy. Folks who race sedans think people in open-wheel cars are nuts. People who race cars of any kind think motorcycle racers are absolutely off theirs meds. But there's one group that everyone agrees is made up of the most extreme, the most daring, and absolutely craziest people in racing - rally racers."

                              Comment

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