Insurance for Karts?

Curtis Bosarge · Joined: 18 Jul 2001 Posts: 28 Location: Des Allemands, La.

Recently learned the hard way that our karts, stored in a shed in our back yard, are not covered under our insurance policy. Lightning struck the shed & the shed caught fire. Luckily we put the fire out before any serious damage was done to the karts.

So, now I'm looking for insurance coverage for the karts. Any body been down this road already and have a source? Are they covered in storage and in transit?

Thanks,

Curtis

Kim Zobbe-Hogdal · Posted: Mon Sep 17, 2001 4:03 pm Post subject: Insurance for Karts?

quote:
Any body been down this road already and have a source? Are they covered in storage and in transit?
[/QB]

We also found out when a low life

broke into our shop and stole my 12 year old's kart last year, that our homeowner's insurance didn't cover the karts. We just bought a rider that now does cover the karts and 4 wheelers. This doesn't cover anything off our property. When we raced cars we had ontrack and transport insurance for the car through S&K Insurance it was very expensive.

Mike Weaver · Posted: Tue Sep 18, 2001 9:22 am Post subject: Insurance for Karts?

This topic recently came up. Did you check the archives? If not, I replied that K of K provides insurance for race equipment off-track. I received some info from them but never pursued it (lazy, not cost!).

Thanks again for the kick in my rear to get that task pursued again!

Charlie Fox · Posted: Tue Sep 18, 2001 9:59 am Post subject: Insurance for Karts?

This is the only place I know of. They are very reasonable. http://www.kandkinsurance.com/

Jeff Mulvihill Jr · Posted: Tue Sep 18, 2001 12:02 pm Post subject: Insurance for Karts?

Everyone always talks and points to K&K... what are your EXPERIENCES with insuring your equipment? What are the costs, why did you decide to do it, what does it cover, etc.?

Thanks!

ps, when I get my info from them, I'll post...

Gary Kozuma2 · Joined: 03 Aug 2001 Posts: 446

For what it's worth,

I call my Snake Farm agent today, here's what they told me:

* On my trailer, while I'm towing if there were a wreck and the trailer hit something then my liability insurance on the truck would cover it.

* If I lost my tools through theft or accident then my home owners would cover just the tools.

* I could get comprehensive insurance on the trailer to protect against theft. It's something like $50/year for a $2,500 trailer.

!!! But there's no way to cover the Kart!

Gary K.

Tim Doll · Posted: Tue Sep 18, 2001 6:38 pm Post subject: Insurance for Karts?

quote:
Originally posted by Gary Kozuma, 41c:
!!! But there's no way to cover the Kart!

Gary

That's pretty much what I've been told when I've talked to an insurance agent about insuring my karts. Liability was not a problem for either the kart or trailer, but damage or theft was a different matter. Specifically, anything that "could be reasonably be expected to be used around the house" (e.g. tools and gas cans) would be covered by my homeowners, but the karts and obviously karting related equipment (starter, tires, wheels, etc.) would not be covered. Similarly, if my trailer became unhitched and struck another vehicle or otherwise resulted in damage to others, I'd be covered for liablility by my automotive insurance. But damage or theft of the trailer itself was not covered.

I could get special policies on the karts that would cover them whenever they were not under their own power (i.e. if I wrecked it while on the track, no coverage, but pretty much anything else would be covered). I could also get coverage of the trailer and contents. BUT, the cost was excessive - something like 25% of the insured value per year (i.e. $10,000 coverage would cost nearly $2500/year

.

K&K might be a good alternative - they keep coming up because unlike most insurance companies, they specialize in auto racing type insurance, so they have coverages taylored to our needs. I'm curious to hear what you find out.

Tim

Chad Stapleton · Joined: 19 Jul 2001 Posts: 4403

Probably no use directly to you guys, but the link below shows whats available to those in the UK . (may even quote internationally if you ask ? )These are Motorsport specialists an even cover the F1 teams.
www.fairmontinsure.com/frameset_motorsport_insurance.cfm
follow the links to kart insurance.

$250 premium buys;-
$7500 kart / equipment loss or damage (storage, transit and racing !),
$150,000 medical cover,
and $1,500,000 personal liability.

Any help ?

[ September 18, 2001: Message edited by: Chad Stapleton ]

Curtis Bosarge, Jr · Joined: 08 Sep 2001 Posts: 6 Location: Des Allemands, La

I really appreciate all of the feedback. It seems to me that we're kind of on our own when it comes to coverage. I have Allstate and the claims agent showed me, in the latest rev of the policy, that Land Motor Vehicles, IE: karts, 4-wheelers, anything recreational in nature is not covered in any way. However, there is a $2000 limit for stored parts associated with LMVs which are damaged / stolen. I believe I had close to that in tires/wheels/misc damaged in the fire.

Oddly enough, riding lawn mowers and powered wheel chairs are covered in-full. Where can I get some John-Deere green paint?

I will investigate all leads posted to this question and report back.

Thanks,

Curtis

Charlie Fox · Posted: Wed Sep 19, 2001 8:06 am Post subject: Insurance for Karts?

I contacted K and K a while ago and they quoted me a annual fee of $500. for $26,000 worth of insurance on the trailer and all contents while it is being stored or in route.
I thought that is very reasonable and will be buying the policy shortly. I have not been in touch recently so that fee may have went up since then. But I emailed them and gave them a phone number and they called me the same day and faxed the papers to me and they were real nice. I just have not done anything yet.

Mike Nolan · Joined: 23 Jul 2001 Posts: 61

I called my State Farm agent and she took the information on my kart as quoted the following:
2000 Go Kart - 30HP Cost New $6,000
Liability Coverage of 100/300/100 $26.46
Medical Payments $16.00
Unisured Motorist 30/60 $10.40
Physical Damage Coverage depends on deductable $100 Ded $180.20
$250 Ded $127.40

I told here the whole deal with the kart regarding racing etc. and this is what she gave me. I have not got the policy yet but plan to do so especially for the theft. I am sceptical as to if this would really happen but it is the best I have heard so far.

Tom Stephens · Posted: Thu Sep 20, 2001 7:04 am Post subject: Insurance for Karts?

quote:
Originally posted by Mike Nolan:
I called my State Farm agent and she took the information on my kart as quoted the following:
2000 Go Kart - 30HP Cost New $6,000
Liability Coverage of 100/300/100 $26.46
Medical Payments $16.00
Unisured Motorist 30/60 $10.40
Physical Damage Coverage depends on deductable $100 Ded $180.20
$250 Ded $127.40

I told here the whole deal with the kart regarding racing etc. and this is what she gave me. I have not got the policy yet but plan to do so especially for the theft. I am sceptical as to if this would really happen but it is the best I have heard so far.

Mike, I also have State Farm and have noticed that a lot of their policies are quoted on a 6 month basis. Are your figures for 1/2 or full year?

Tom Stephens
www.kartfinder.com

Gary Kozuma2 · Joined: 03 Aug 2001 Posts: 446

quote:
Originally posted by Mike Nolan:
I called my State Farm agent and she took the information on my kart as quoted the following:
2000 Go Kart - 30HP Cost New $6,000
Liability Coverage of 100/300/100 $26.46
Medical Payments $16.00
Unisured Motorist 30/60 $10.40
Physical Damage Coverage depends on deductable $100 Ded $180.20
$250 Ded $127.40

I told here the whole deal with the kart regarding racing etc. and this is what she gave me. I have not got the policy yet but plan to do so especially for the theft. I am sceptical as to if this would really happen but it is the best I have heard so far.

Hey Mike,

You must have a better Snake Farm agent than I do. What gives? It's not that Orange County thing is it?

Also, it looks like a car policy just wondering if the agent is confused

And lastly, what's the comprehensive cost?

Gary K.

[ September 20, 2001: Message edited by: Gary Kozuma, 41c ]