Insurance

Ron Earp

Ron Earp

Administrator
Just a heads up on insurance for some of you folks. I checked my auto policy and discovered that my truck insurance didn't have near enough coverage to cover my trailer in the event it was destroyed in an accident (regardless of fault), stolen at a track or hotel, burned up, etc. Like most of you guys, I've got a lot of tools, spares, and so on in my trailer that would be difficult to replace.

I spoke with Nationwide, my insurance carrier, and found they do offer specialty trailer insurance for folks with hobbies involving trailers, mainly horse folks, but other things too like vendor trailers and the like. For $110 a year I was able to cover the trailer for $20k, all contents, with a $250 (not my fault) and $500 (my fault) deductible.

Might want to think about it.
 
Also note you can get insurance for your race car for transportation and storage. Our STP ("Storage, Transit or in the Paddock") policy with a named-value of $25k costs us ~$250 annually.

GA
 
I believe it does ("all contents"). We chose the STP policy because we think the truck's policy should cover the trailer itself fine, but we got the extra policy for the car. We'll take the hit on the tools and such.

But also note the STP policy covers the car when it's not in the trailer; it's covered if my garage catches on fire and even if it's hit in the paddock by an errant Spec Miata (don't laugh, that's happened...) You're covered right up to the moment you cross the official line for the false grid, then again when you come off the track.

One requirement, as I recall (I'd have to read my policy again), the car is not covered if it's in long-term storage on, or in, a trailer, even if it's an enclosed trailer. The car's regular storage must be a locked building. So a combo of these two policies will give you full coverage of everything.

Of course, we could get into the discussion of on-track insurance...yep, you can even buy a policy that will cover your car for damage during competition...but I doubt you want to pay that premium...
 
Be careful guys. Your standard auto policy will cover ONLY the liability in the event your trailer is damaged and hits something else, like a car. Your standard car policy will NOT cover physical damage of any kind to the trailer unless you by the additional coverage Ron speaks about.
 
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