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Author Topic: Insurance Coverage?  (Read 181 times)

Offline jjckflsh

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Insurance Coverage?
« on: March 10, 2017, 01:36:09 PM »
Hi,
Does anybody know where you can get race event insurance?  I was going to enter the July Loring Speed Trials but the wife pointed out to me that my life insurance has a get out of paying clause if you participate in racing or speed contests.  So, I was wondering about paying for supplemental insurance.  Been asking a lot of people but, no info.

Thanks for your help

Offline Nosgsx1300

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Re: Insurance Coverage?
« Reply #1 on: March 11, 2017, 02:46:04 AM »
So don't die
mongrel turbokit unknown HP level

2011 Loring 204.88mph "naked"
2015 Loring 220.01743 MPH Faired in fifth gear

Offline 1 wheel peel

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Re: Insurance Coverage?
« Reply #2 on: March 16, 2017, 09:42:37 AM »
Check with the event organizers.  I know Tx Mile works with like care flight insurance coverage for the event for individuals who want to purchase it.  Don't know of anyone doing life ins though.  I just took Nosgsx's advice and didn't die.

Offline Stainless1

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Re: Insurance Coverage?
« Reply #3 on: March 16, 2017, 08:11:53 PM »
So don't die

Yep, it will piss off the event organizers if you do...
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Online RansomT

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Re: Insurance Coverage?
« Reply #4 on: March 16, 2017, 09:01:32 PM »
I've had my life insurance policy for a long time, 35 year term.  No where does it say anything about not getting benefits due to "non-professional" racing.  It did ask if I raced motorsports on the application, and I didn't 22 years ago. 
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Offline firemanjim

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Re: Insurance Coverage?
« Reply #5 on: March 16, 2017, 11:25:27 PM »
Not a race per se--- Speed Trials---
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Online osti33

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Re: Insurance Coverage?
« Reply #6 on: March 19, 2017, 07:59:18 AM »
Hi,
Does anybody know where you can get race event insurance?  I was going to enter the July Loring Speed Trials but the wife pointed out to me that my life insurance has a get out of paying clause if you participate in racing or speed contests.  So, I was wondering about paying for supplemental insurance.  Been asking a lot of people but, no info.

Thanks for your help

Almost all life insurance policies  are written this way... Unless you race for a living(which as far as I know none of us do) all of the racing/speed trials we do is considered amateur/non-professional racing as far as your life insurance company is concerned.

Again, most(maybe not all) insurance companies will word it in a way that says if you are killed in an amateur racing/speed trial event as far as they are concerned it is suicide. If you read your policy I promise you that suicide isn't covered.

YMMV but I would strongly suggest getting a separate policy if you want coverage for racing.
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Online osti33

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Re: Insurance Coverage?
« Reply #7 on: March 19, 2017, 08:03:21 AM »
It did ask if I raced motorsports on the application, and I didn't 22 years ago.

Ransom,

Did you ever wonder why they asked you that question?  :wink:

Your spouse, kids, whomever is the beneficiary might have a hard time collecting on that policy in the unfortunate event that something did happen to you. Maybe they wouldn't? It might be worth looking into.
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Bonneville, Loring, ECTA, Texas, Mojave

Offline Nosgsx1300

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Re: Insurance Coverage?
« Reply #8 on: March 20, 2017, 03:08:06 AM »
If you are really that worried about it
call your insurance company, I am sure they will sell you coverage specific for race day

MOST insurance company's will try to get out of paying,  and remember, they are not the ones who are waiting to pay debts with the money, they can wait indefinite
only way to make SURE you are covered is to call them and ask.  maybe even have them fax something over

 
mongrel turbokit unknown HP level

2011 Loring 204.88mph "naked"
2015 Loring 220.01743 MPH Faired in fifth gear