Drag Racer's FAQ's
What types of cars can this program cover?
It covers cars used only for drag racing, and also can cover trailers, tools and spare parts. It isn't an auto policy and can't insure a vehicle registered for street use. The policy only covers your property, and is not a liability policy.
What types of losses are covered?
The program covers all causes of loss except those that are excluded, and there are very few exclusions in the policy. It does not cover the car while it is going down the race track under power, but does cover the car moving around the covered facility otherwise. Other exclusions are for losses caused by wear and tear, war, and the nuclear peril. (The policy itself needs to be consulted for thorough analysis.) And yes, theft is a covered cause of loss!
How much does it cost to insure a race car and trailer?
A typical bracket or class race car and trailer usually costs about $650 to $1,000 per year to insure. Since the rate is based on the value, higher valued operations (such as Pro Mods) can have higher premiums. We can insure all types of drag racing cars, from Junior Dragsters all the way through Top Fuel!
How is the premium determined?
Every client has a rate computed that is based on their operation and certain things that are done to reduce losses. This rate, multiplied by the value, determines the premium.
How are the vehicles valued?
The policy is an actual cash value policy, and we attempt to cover the vehicle for its current value. The client discusses the value with the agent before submission. A good measure of value would be the price of a similar vehicle in National Dragster or Racingjunk.com.
Can the policy be changed if I get a new car, engine or trailer?
Absolutely. The policy is YOUR policy, and can be changed at any time to reflect the changing needs of your racing operation; generally it takes only a phone call. If you lease a trailer, or take out a loan to get one, our policy will satisfy any bank or lending institution that requires you to have coverage.
How high is your deductible?
Our base deductible is only $500, the lowest in the industry. Optional deductibles can be requested for a premium reduction. There are no 'tricks' increasing deductibles for theft or other losses, unlike some of our competition.
Do you have a payment plan?
Our pay plan has up to ten payments, with only 25% down to get started. The pay plan is flexible, and has a low $3 installment fee per payment. You can set up recurring payments via checking account or credit cards, including AMEX!!