Financial Channel

Maine or anywhere else un the US....
Car is a modified camaro. Is raced on weekends (timed event per most insurance company policies). It is inspected and registered for my state. Due to weekend racing activities, plus the addition of a roll bar, high performance motor, and gearing, and the fact it is sponsored and has the decals prominently displayed, I can find no companmy to offer insurance for regular street driving.

There are companies that do insure race vehicles but those policies all specifically exclude vehicles that are registered for street use.

There are companies that insure specialy vehicles for street use but not vehicles that compete in timed events or competition. There are all kinds of appraisal firms and antique auto, and hot rod policies, but none that cover a vehicle less than 20 years old.

If I omit the "truth" I can have coverage.

My driving record has zero moving infractions (speeding or whatever), for a decade. No DUIs or anything like that. Clean record, safe car, and have contacted every company I can find, even through specialty trade magazines, and there is nothing. I even got real persistent one day and tried to contact Lloyds as I heard from several people they would insure anything if the price was right and the answer was still "no".

If you don't tell the truth, and the truth comes out when a claim is being investigated, your insurance company will likely refuse to cover your loss.

Is there really no company which offers coverage for both specialty vehicles used on the street, as well as race vehicles, which can offer you some kind of combined policy?

My response:

How about buying an older used vehicle for everyday driving, and leave the Camaro garaged for weekend use? That is, of course, if you're not street racing, too!

IAAL

I like to drive to the track, change tires, and race. This way I don't need to buy a trailer, a truck to haul the car on, and last I knew drag racing is the largest participant motor sport in the US. Lots of people lie about it, get insured, and go to the track.

I happen to be older so I actually want to fix this perceived problem of mine.

I actually had one insurance company tell me if they found out any of their insured were racing on the weekends at the track they would actively "go after them", which i though was insane becasue I would rather have them race at the track than on the street.

How many high school kids fix up their cars and go to the local track? I bet many of them are violating their policies.

One day an insurance representative visited my agent (this was a few years back), and jokingly told the agent that he had better not have a policy on the car he just saw in the parking lot... Of course it was my car. My agent, who I still work with for other things, told me to go out of town at renewal time and not tell anyone about the roll bar or the racing.

The other side of the problem is that sometimes I receive press from the races so I really could not hide it even if I wanted to. Plus if someone ran into me on a Sunday morning while I am getting coffee any adjuster is going to take one look at the car and know what it is used for.

Have you had a broker contract LLoyds?

There is a brokerage firm in Chicago I spoke with but they didn't even want to consider trying to help and they were actually quite rude over the phone. they seemed somewhat offended that I even called. i expected at least a high class level up persnickity at least but didn't even have the opportunity to be turned down because I didn't meet their standard. Oh well...