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Please Note that all the pictures on this site are copyright and may not be used for any purpose without the owners permission!
CLASSIC VEHICLE INSURANCE RACING
JAGRACING is pleased to announce an exclusive deal negotiated with HAGERTY CLASSIC CAR INSURANCE. All visitors are entitled to a 10% discount. Don't forget to mention JAGRACING.
Based at SILVERSTONE (the home of UK motor racing) HAGERTY are serious about CLASSIC CARS & RACING.
Marcus Atkinson, Marketing Director, Hagerty International Limited:
"I feel that we offer our clients better value for money than all our competition we are interested in the car and the driver, we have a good amount of knowledge of the vehicles and we understand historic racing as well."
Nearly all of their competition insure the classics so that they can also try and insure your house, travel, every day car, offer you pensions, life insurance etc. This is where they differ as they only insure classics and nothing else!
Hagerty are also the largest classic insurer in the USA.
(For on track cover, with a discount go to Competition Car insurance)
SOME THINGS TO CONSIDER ABOUT CLASSIC & COMPETITION INSURANCE
These days there are more companies offering vehicle insurance than ever before. Whilst more choice and competition between companies should lead to cheaper premiums it makes choosing the right one a minefield.
There are now companies specialising in over 25's, over 50's, over 55's, 17-40's, Women only, Men only, Careful drivers only, High performance, Low performance, Over £300, Classic, Cars over 3 years old, One make, Racing, Commercial, Motor trade etc.
Most companies offer protected no claims, some even offer unlimited NCB. How can it be a no claims scheme if you could potentially have the worst claims record in the country and still keep your NCB? Is there a catch? and would any other insurance company recognise it? I doubt it! At the end of the day whatever fancy names they have for their policies, if your deemed to be a higher risk than the next man, you will undoubtably pay more for your insurance. This assumes of course that both of you have done your homework on the best package.
Modern Maserati
There are a multitude of other options and benefits that may be of interest according to your individual needs and budget.
The most important thing of all is that you have reliable cover for the more costly claims or losses, which in the worst case could run into six figures! Apart from choosing a company you can trust, it is also essential to provide them with correct up to date information. It is pointless obtaining a lower quote by giving incorrect details, as your cover will be worthless in the event of a claim.
Unlike the plethora of other insurance's of doubtful worth, like £40 for 3 years cover on a portable TV that cost £60 and will be out of date in 2 years, adequate Motor insurance is not only Vital but is also a legal requirement. Unfortunately there are a growing number of uninsured drivers on our roads!
CLASSIC CAR INSURANCE
High performance sports cars can be covered fully comprehensive agreed value for under £200!
Classic car insurance is generally considerably cheaper than modern car insurance. The main reasons being that some or all of the following restrictions usually apply:
Limited mileage typically 1500, 3000, or 5,000 per anum.
Garaged over night.
Valuation certificate required plus photos.
Car club membership required.
Driver must have use of an every day car.
There is also a great deal of choice in the Classic car insurance market, with some companies offering discounts to specific makes or car club members. (Don't assume that these will necessarily be the cheapest or best). Multiple classic car policies are also becoming common.
Some companies insist on a new club valuation every year, as this could cost £50 or more, it is worth bearing this in mind as it needs adding to the premium for comparison's. Other companies include compulsory breakdown cover which may be good value if you don't already have cover for all vehicles.
As with ordinary car insurance, there is so much choice that it would cost you more in time and money to phone them all than you are likely to save. It is worth doing some research on the Internet, and talking to other people that own similar cars, and then phone 6 of the shortlisted companies for the best quote. If there is a company that you favour, but they are a bit more expensive than the cheapest, it is always worth a haggle, it often works!
I think it is one of the most widely misunderstood and ignored areas in Motorsport. Some of the following are probably contributory factors.
Motorsport at any level is expensive, and at whatever level you are competing at you naturally want to use your budget to achieve the best advantage over the competition. This may include better tyres, shocks, cams, engine, or testing. Spending part of your precious budget on insurance may seem an unlikely route to winning you any trophies!
Most MSA events include an element of cover for third party claims (not fellow competitors). It is a bit like trying to understand the terms and conditions of a software agreement to determine what you are covered for.
It is generally accepted that whilst competing you are solely responsible for damage to your own car or personal injury, regardless of who was deemed to be responsible for the accident.
Quite often there is a massive difference in the value of the cars at opposite ends of the grid. In the XJS Championship for example a car at the back may be worth £1500 and the one on Pole is £20,000! The organisers believe that there is clear evidence that better presented cars are generally driven with more care than the scruffy ones. This is of no comfort however if an over zealous novice in his £1500 road car bounces of the Armco and into the leader as he just is just about to lap him!
This accident at Brands hatch 2005 wrote off two highly modified XJS's resulting in losses estimated at £35,000
This is where insurance could well be a major factor in getting your next trophy, unless of course £20K is small change to you! Of course losses could be significantly more than this, especially if injuries are involved that affect your livelihood.
IN CONCLUSION
Its very difficult to get enthusiastic about insurance, but adequate cover for potential losses running into thousands of pounds should be seriously considered by all competitors. Finding the right company for your insurance needs is time consuming but well worth the effort.
