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Thread: let's talk insurance for street cars, non-op and trailer

  1. #1
    Senior Member bellwilliam's Avatar
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    Default let's talk insurance for street cars, non-op and trailer

    every time I sell a cheapo car, my insurance rate goes UP because the cheapo car is no longer my primary. so now I keep always keep an el cheapo car on my policy.


    for non-op cars:
    what do you guys do for cars that's been sitting ? a car you've filed non-op on.
    do you still carry insurance on the car ? if not, what happens if the house gets burnt down ?


    trailer insurance:
    I vaguely remember we talked about this. but in of an accident, which insurance covers trailer damage ? or race car damage while in/on the trailer ? what is your trailer sways, and hit another car ? what happens when trailer (or contents) got stolen while parked at the track / gas station ?
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    Senior Member fatbillybob's Avatar
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    Life is about risk. The more you spread off risk to others the more is costs you. I definitely would not have as much ($) as I have now if I paid someone else to take the risks. I say only pay for risk mitigation of those risks you truly cannot afford such as liability. Insurance companies have got Americans in the mindset of paying to mitigate unpleasantness under the guise of risk.
    bawareca likes this.

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    Senior Member Silversprint's Avatar
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    I only care about my liability towing to and from the track. My track car and trailer are disposable as far as I'm concerned.
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  4. #4
    "Shoe"
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    Having more than 1 car per eligible driver in the household helps. Heck, buy a 1500 miata (good gas mileage) and do liability only and your premium on your nice car will go way down. They just don't want to pay for a rental car if you have other transportation.

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    Not Certified Slow SDSUsnowboards's Avatar
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    My car insurance is for my tow vehicle only. It does not cover the trailer or the contents on the trailer. My trailer is insured against theft and damage, but that insurance does not cover the contents of the trailer. No one will insure my race car against theft only, or damage while its on the trailer.
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    Administrator ucfbrett's Avatar
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    My race car has no insurance and it's non-op. I just can't justify the expense. My garage is detached, so if, God forbid, the house burns down, let's hope it's not such a humongous fire that it spreads to the garage.


    I have no additional insurance on the trailer, but I have been meaning to add it. There are two tiers of converge, if I recall correctly. The cheap coverage covers the trailer in the event of an accident, but not the contents. If you want the contents covered, that is a higher premium.

  7. #7
    Senior Member Gian's Avatar
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    I know what ever you tow becomes part of your vehicle. So is covered by what ever your insurance covers. That being said, if your coverage only covers, say,10,000 (most are way more). That's all it pays out.
    You can up your coverage to what ever you think your stuff is worth. But I think you need list trailer and what ever your hauling. I'm not real sure how that all words
    That's not a Typo, I just can't spell no so well.

  8. #8
    Old timer craZee's Avatar
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    I have my (cheap) race cars covered by Hagerty Insurance in what they call a "pit and paddock" policy. I have 3 cars covered for $15-$20K ea., with $0 deductable (only option) for a total premium of around $300/yr.

    They are covered against loss, for any reason, at my house, on a trailer and even at an event, unless physically on the track surface.

    Some say it is a waste of money, but I sleep better at the sleazy motels with my car(s) on an open trailer in the back unlit parking lots.

    The people at Hagerty rock and are super nice to deal with.

  9. #9
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    I tell my (big major) insurance company that one of my cars is my daily driver, and all the rest are just occasional weekend cars because I like to collect cars. My insurance agent figures out which car would have the lowest rate as the daily driver, and that's how I insure them. I also insure my (ex) wife's car and my daughter's car. It ain't cheap, but I guess it could be worse.
    The deposed former Sheriff of trackHQ . . .

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  10. #10
    RaceTape Ninja Force McCocken's Avatar
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    My "cheapo" cars have been an interesting insurance experience...

    The '88 325is I drive, my insurance co wouldn't allow me to put comp/coll on it because of it's age UNLESS I had a certified mechanic fill out a form and supply pictures, confirming the condition. I later called back. spoke to another rep and they gladly added comp/coll to the car. Weird. It costs slighty less to insure as my wife's '02 IS300 Sportcross. The Lexus is a car known to have higher than average premiums to insure.

    My '92 Miata, I had to take out a separate rider policy just for the hardtop.

    North Carolina has an agency that controls the rates insurance companies are allowed to charge you. Typically, NC rates are actually very good.

    In CA, I moved from Irvine to Aliso Viejo and my rates shot up. When I called for a an explanation, I was surprised when they told me,"because you live in an area where you are more likely to have an incident with an expensive car." So, while our records have been clean for many years and the only claim was one not on our policy (other driver at fault), the rates went up because the chances of having an accident with a $100k+ vehicle were higher. :nodding sagely:

    Non-op cars, I wouldn't insure. It doesn't make sense to cover them if you can't use them. However, if they have some decent value, I might. Essentially, I consider the value of the vehicle and if I could afford to walk away from the value of it in a total loss incident. IF not, I insure, if I can - minimum insurance only.
    Last edited by Force McCocken; 04-11-2014 at 04:48 AM.
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    Force

  11. #11
    Not Certified Slow SDSUsnowboards's Avatar
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    Quote Originally Posted by craZee View Post
    I have my (cheap) race cars covered by Hagerty Insurance in what they call a "pit and paddock" policy. I have 3 cars covered for $15-$20K ea., with $0 deductable (only option) for a total premium of around $300/yr.

    They are covered against loss, for any reason, at my house, on a trailer and even at an event, unless physically on the track surface.

    Some say it is a waste of money, but I sleep better at the sleazy motels with my car(s) on an open trailer in the back unlit parking lots.

    The people at Hagerty rock and are super nice to deal with.
    Awesome! Thanks for sharing that. I'll give them a call.
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