View Poll Results: Insurance coverage while racing
Did you know that your car insurance is voided while racing?
11
91.67%
Did you NOT know that your insurance is voided when racing?
1
8.33%
Voters: 12. You may not vote on this poll
Car insurance voided during racing??
05-02-2012, 04:17 PM
#1
Car insurance voided during racing??
I have been a member here for a couple months now. It surprises me that so many people race their new or almost new mustangs.
Standard auto insurance exclusions include racing on any kind of track or even street racing. Coverage for any kind of damage is totally denied.
How do you guys justify the risk? I know that some guys have a lot of money and just do not care because they can afford it. But how many of you could afford to continue making all your car payments after you wreck your car and can't drive it anymore?
I know that I couldn't afford a second car payment, I could have to buy a cheap car for cash and drive it until my loan was paid off, that would be a real bitch.
How do you justify the risk?
I guess when I was younger I would not have cared either, just sayin.
Standard auto insurance exclusions include racing on any kind of track or even street racing. Coverage for any kind of damage is totally denied.
How do you guys justify the risk? I know that some guys have a lot of money and just do not care because they can afford it. But how many of you could afford to continue making all your car payments after you wreck your car and can't drive it anymore?
I know that I couldn't afford a second car payment, I could have to buy a cheap car for cash and drive it until my loan was paid off, that would be a real bitch.
How do you justify the risk?
I guess when I was younger I would not have cared either, just sayin.
05-02-2012, 04:43 PM
#2
4th Gear Member
Join Date: Jul 2007
Location: TN
Posts: 1,895
I know that 'if' I happen to get into a wreck on a race track that it will be on me to cover the damage but when I only go to the drag strip every once in a while the chance of a wreck is greater on the public streets than the track. It's a risk and I understand it and really don't worry about it happening. It's def not going to keep me from taking my new '12 and racing it legally. Same thing.about the worry of what happens if my tune damages my motor on my new car. Ford won't cover the damages. And guess what I tuned it anyway. U only live once right? 
05-02-2012, 04:51 PM
#3
6th Gear Member
Join Date: Feb 2007
Location: North Carolina
Posts: 11,302
You would have to be a total dumbass to actually confess to your insurance company that you were racing.
Have it towed home out of your pocket. Tell them you hit a deer and lost control. End of story, its a not at fault animal collision claim. It works, I know this for a fact, been there done that.
Off topic section??
Have it towed home out of your pocket. Tell them you hit a deer and lost control. End of story, its a not at fault animal collision claim. It works, I know this for a fact, been there done that.
Off topic section??
05-03-2012, 11:07 AM
#6
You would have to be a total dumbass to actually confess to your insurance company that you were racing.
Have it towed home out of your pocket. Tell them you hit a deer and lost control. End of story, its a not at fault animal collision claim. It works, I know this for a fact, been there done that.
Off topic section??
Have it towed home out of your pocket. Tell them you hit a deer and lost control. End of story, its a not at fault animal collision claim. It works, I know this for a fact, been there done that.
Off topic section??
Isn't this "on topic" for racing? I think it is.
I was kinda curious how many weekend racers never thought about it.
Don't get me wrong, racing is fun, I have done a lot of it, I would just never race my daily driver or some car I couldn't afford to lose, or a car with a lien on it.
I have had friends who committed insurance fraud and succeeded, but I have also had a friend who failed and was charged.
The concept you speak of is why insurance companies insist on getting police reports for claims.
Insurance fraud is a felony & can get you a few years in jail for it, but filing a fraudulent police report can get you more. Plus there is no real defense to filing the fraudulent Police report, it is easy/cheap for the govt to charge & prove.
The police report fraud charge doesn't cost the insurance company anything, plus it gives them the legal right to not pay on the claim.
Maybe I am gust getting old, but the idea of taking that kind of risk and possibly destroying the rest of your life seems so absurd to me. It is a simple risk vs benefit analysis.
How many job offers will you get after being convicted of a fraud felony? You could never be bonded. Probably not even a janitor..... Just sayin.....
Personally if one of my kids trashed a car racing I would do everything I could to convince them to man-up and pay for the car, call it a life-lesson. But I would be extremely opposed to them committing a felony as a short cut. The possible consequences are just too extreme.
05-03-2012, 11:40 AM
#8
5th Gear Member
Join Date: Oct 2008
Location: CA
Posts: 2,073
"insurance companies insist on getting police reports for claims"
Many police departments no longer do accident reports. Part of budget cuts.
In Ca, it's up to the parties involved to file a statement with the department of motor vehicles for any accident over $750.
I know the risks, and I think most just accept the risk and would cover it on their own.
I know I've got in excess of 10K in go-fast mods alone, and I've got "rainy day" money set aside for engine failure. Cosmetic damage, just an excuse to do some look-fast mods.
Many police departments no longer do accident reports. Part of budget cuts.
In Ca, it's up to the parties involved to file a statement with the department of motor vehicles for any accident over $750.
I know the risks, and I think most just accept the risk and would cover it on their own.
I know I've got in excess of 10K in go-fast mods alone, and I've got "rainy day" money set aside for engine failure. Cosmetic damage, just an excuse to do some look-fast mods.
05-03-2012, 11:51 AM
#9
6th Gear Member
Join Date: Feb 2007
Location: North Carolina
Posts: 11,302
OP, I have never made a fradulant claim. I hit a deer, then lost control. No police report needed. But hypothetically speaking, had I been drag racing, what difference would it make? I cant find anything in my policy that says they wont cover accidents while participating in recreational activities.
05-03-2012, 12:05 PM
#10
2nd Gear Member
Join Date: Mar 2012
Location: Texas
Posts: 228
I have been a member here for a couple months now. It surprises me that so many people race their new or almost new mustangs.
Standard auto insurance exclusions include racing on any kind of track or even street racing. Coverage for any kind of damage is totally denied.
How do you guys justify the risk? I know that some guys have a lot of money and just do not care because they can afford it. But how many of you could afford to continue making all your car payments after you wreck your car and can't drive it anymore?
I know that I couldn't afford a second car payment, I could have to buy a cheap car for cash and drive it until my loan was paid off, that would be a real bitch.
How do you justify the risk?
I guess when I was younger I would not have cared either, just sayin.
Standard auto insurance exclusions include racing on any kind of track or even street racing. Coverage for any kind of damage is totally denied.
How do you guys justify the risk? I know that some guys have a lot of money and just do not care because they can afford it. But how many of you could afford to continue making all your car payments after you wreck your car and can't drive it anymore?
I know that I couldn't afford a second car payment, I could have to buy a cheap car for cash and drive it until my loan was paid off, that would be a real bitch.
How do you justify the risk?
I guess when I was younger I would not have cared either, just sayin.
Not sure where your getting all of your information (forums?) however, I've been involved in Auto cross racing for years and have yet to be declined coverage well, mainly because autocross is not considered "competitive racing" with my insurance company. Each insurance underwriter is different of course. As always check with your insurance company first