Racecar insurance - any recommendations?

[DaveGT6]

I was wondering if anyone could offer any advice on where to obtain a realistic premium for insuring a racing car whilst on the track? I may have the opportunity to share a friend's car next season but would like the "comfort" of knowing that it was insured against any little mishaps. The problem is that insurance companies approached so far either aren't interested (despite claiming to be motorsports insurers) or are quoting a premium that is higher than an entire season's race budget, entries and all!

[simon drabble]

there is only one place to call - Egger Lawson. They pay claims quickly and their premiums are the most competitive. Tel number 0115 941 5255 and ask for teh competitions department.

[rogerwills]

I also use Competition Car Insurance which is Egger Lawson. They are first class. Susie Cattermole is the contact I use there - 0115-941-6146, email susie.cattermole@towergate.co.uk.

There is also Hegarty but I've not tried them.

Roger

[Tim Falce]

For my own car I have never found it cost effective but for driving someone else's car then Eggar Lawson/CCI are the people to call.
You have to bear in mind though that there is an escalating scale of excesses depending on how much you pay and the cover you want and also they don't pay out for mechanical damage to engines and drive train (unless it's changed since I last enquired.

[rogerwills]

Yes, I agree with this. Its not possible to cover mechanical damage. I cover for a lump sum for each car that we roughly estimated would be one corner of damage and I pay a reasonably large excess. It makes the cost very reasonable. You can also add fire damage for a very reasonable charge. Touch wood, to date I've never had to make a claim but I always take cover just in case.

[DaveGT6]

Thanks for the advice guys. It does seem that there is only one underwriter in this market so they can control the premium. I wasn't looking for mechanical cover as I think we all accept that it would be unreasonable/impractical to expect insurance. Reading your responses (and some comments on a thread about the HSCC finals), perhaps on reflection we were trying to insure too much of the car (if that makes sense) - rather than the replacement value of the car it seems that covering the cost of a corner rebuild may be more realistic.

[Gary Critcher]

I must admit, I've been running with the HSCC for four years now & have never had anything insured. Perhaps I should.

[zefarelly]

I've looked at it and the cost said to me save a bit each race and in a year or 2 you'll have enough for a spare shell, which is exactly what I've done. obviously thats very much dependant on the quote/car value ratio !

another major consideration is the reputation and quality of racing and drivers you choose to mix with, accidents do and always will happen, but a vast majority are unavoidable, so think about it, and make an intelligent decision, most series endorse the three C's and manage tthemselves very well. a flick through MST results will giove you a good indication to what races actually run the distance at race pace.

[simon drabble]

if you are sharing a car I think it is a very sensible precaution as it takes away embarressing conversations about who is responsible for what (the cause of at least one partnership break that I know of)
I normally put £4000 damage with £750 excess and the cost is in the region of £125 which includes qualifying as well.
Regrettably I have over the years had reason to claim on a couple of occassions and I am pleased to report that they paid on an estimate without any quibble.
I looked at Hagerty but to be honest they were not as flexible or cheap....

[john ruston]

Do Hagerty pass risk to Egger Lawson?

[Peter Mallett]

I use Heggarty for the trailer and car, in storage and in paddock insurance. Used Eggar Lawson for Spa a few years ago but didn't last year. Might reconsider in future though.

[simon drabble]

Fairmont are cheaper than Hagerty (the guy who runs the Fairmont division responsible races a Milano with HSCC) - ironically the only time I have claimed on my transit/storage policy was when a tow truck at Pau damaged my Eleven on the way back to the paddock. As it was in transit they paid.
Hagerty promised a lot and having compared them to both CCI /Egger Lawson and Fairmont I was disapointed to see that they were more expensive (and in the case of competition insurance) not as good a policy.

[Peter Mallett]

Sorry should have added in transit as well.