[BOUNCE vintage-race@Autox.Team.Net: Non-member submission from [Jeremy
Braithwaite <ATROZ@compuserve.com>]]
Date: Sun, 17 Aug 1997 20:16:15 -0400
From: Jeremy Braithwaite <ATROZ@compuserve.com>
Subject: Re: on track insurance?
George
The crazy thng about it is that it is really a very good risk for an
underwriter. There are few instances of race cars getting stolen, and most
claims can be settled quite cheaply. There is an excess of $1,000 I think,
so if the average claim was say $3,000 the insurer would only pay $2,000.
Most vintage race cars probably only race 4 or 5 times a year - and so the
breakeven for the insurer with a $700 premium is 1 crash every 12 - 15
starts or every 3 years.
My record is probably 1 crash every 20 starts - and I didn't claim the last
time because it was less than $1,000 to fix a couple of bent suspension
parts. It was also in a non-vintage race - a modern FF used me for a
braking marker!
The stats are consistent with the 50% margin that most underwriters make
from specialist insurance such as vintage cars!
Maybe you can do a little research amongst the group you race with a make
an interesting proposition to an underwiter. It would help if there were a
group of you.
Good luck!
Jeremy
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