I have been wondering, but what are the policies on insurance when it comes to racing in a timed event?

The reason I ask is I do owe on my vette but I do want to race the **** out of it, however if I wreck it I don't want to be up the creek without a paddle.

Right now I am with State Farm but I am just interested to know what all the agencies will do in this instance?

Also, I would ask my agent as they're really good people, however that might be an unwise decision.

 

I don't think you are coverd,even as a spectator,at a drag strip.

 

Your policy should state what is covered and what is not covered.
Since you never know when something is going to happen when you're racing, it would be better to know ahead of time what to expect.
I've previously read where some "track" events in which a car is not in competition with other cars (on the track at the same time) is sometimes covered by insurance companies.

 

I just don't want to "ask" and then my premiums go up lol

 

Most policies are pretty specific regarding drag racing and list it as an exclusion to coverage.

 

My State Farm policy clearly states participation in a timed event is not covered. A lot of policies state the same.

Bill

 

I doubt that you are going to find an insurance company that would pay for an accident in any timed event. You might get a rider to cover you for a specific event, but it would be pricey.

 

I just looked at the policy and so far can only see that for a motorcycle it states;
(This is not word for word) NO COVERAGE WHILE ENGAGED IN PRACTICE, PREPARING FOR HILL CLIMB, JUMPING ,RACING OR SPEED CONTEST WHETHER IMPROMPTU OR PREARRANGED.
Further research will be needed on the auto .

 

I would be very surprised if you were covered. but its been known to happen. there's a video on spdkilz.com about the yellow Z06 which blew up on the drag strip due to a nitrous explosion. according to the video he was honest about it with his insurance company and they decided to pay for the damage! if that's true I want to know what insurance company he had...I don't care what the cost is!

I really think insurance should cover cars on the strip or at the track. you are less likely IMO to cost the insurance company alot of money at the strip. the streets are pretty dangerous on their own. when it comes to auto insurance, the cost of the car is nothing compared to any potential medical bills. it takes several minutes to get help at a street collision. on the track, there is almost always an ambulance right there just in case. easy access to care, better chances of survival, lower medical bills.

the fact that you are covered on the street and not on the track also give people a financial reason to do something stupid, keep it on the street when you have the urge to race or go fast. that way if the worst should happen insurance will pay for the damage. on the strip you are being smart, and safe, but if the worst happens, you're screwed as far as the car goes.

I really think that insurance companies covering cars on the track would reduce the amount the companies have to pay out, and encourage people to do the right thing when they feel the need for speed.

 

Thanks for the quick responses

 

You should read your policy, it'll ansewer the question.

 

I know that USAA doesn't cover it.

 

Just know this you are can be about 99.9% sure that they wont cover you if you have a wreck in a competitive atmosphere.....

 

I know my policy spells it out clearly.

 

True story. Many years ago we held time trials at Carlsbad raceway near Oceanside, California. We ran the entire track, through the pits, and pregrid in both directions. One weekend a driver went over the hot car pits embankment and rolled a Corba 289. He got the car back up on the track. He loaded it on a trailer and dumped it off the side of the road near Escondido and called his insurer. It wasn't me. I ran all sorts of autocrosses, time trials and hillclimbs in my 289, but I always knew I wasn't covered. The insurer probably would have canceled my policy if they had known what I was doing anyway. I understand they paid him.
"Oh what tangled webs we weave, when first we practice to deceive".
Your insurance with any company won't cover any type of "speed event".

 

this is what you do :

you don’t tell nothing to state farm and go haw fun.
something happens oh well, have the car towed to a different location and then say you got hit on the high way or something.

it all depends on the damage to the car.

 

X2

I made the mistake and called and asked them, now they call every year and ask me if I race the vette.

 

Does anyone know of a insurance company where you can buy a policy that covers racing? I mean where you can buy an extra policy that just covers you on the track and keep your regular policy for the street.

 

don't ask your insurance, they won't cover any racing. Just race it.

 

Don't even ask. If some thing ever happens you were at a performance driving school event.

We've had more than 1 person tear up a car and insurance covered them. But they were at a driving education course put on by our club, not an autocross event.