Club Trailer Insurance

Mike Cathey · Oct 14, 2016

Our club has a 14' X 7' tandem axel trailer with a ramp in the back. We have our chase boats w/trolling motors and batteries/gang charger[tender}, scaffolding, buoys, electronics and generator. We are paying about $700 a year for replacement value on the trailer and the contents.

Just seeing if anyone else is getting hosed as much as we are. Looking for a better choice if anyone has some good info.

Thanks, Mike

Mark Bullard · Oct 15, 2016

I insured ours thru my car insurance. A little under a $100 a year for $12,000 replacement and $20,000 content. Liberty National

Andy Greene · Oct 15, 2016

xxxxxx- sorry wrong thread

Mike Cathey · Oct 16, 2016

Mark Bullard said:
I insured ours thru my car insurance. A little under a $100 a year for $12,000 replacement and $20,000 content. Liberty National

Our club is a non-profit corporation and the trailer and equipment are owned by it. We originally did it because the guy whose name was on the title had a serious health issue and we didn't want the club's stuff tied up in probate if he passed away. he nearly did to. Luckily he made it. We also did it as an extra layer of protection for the members in case of any accidents.

Mark Bullard · Oct 16, 2016

Well I understand that. And that leaves you in a different position for as insurance.

John Beardslee · Oct 16, 2016

Has anyone approached IMPBA as a sanctioned club to see if our current insurance carrier would consider adding club trailer coverage?

bzubee · Oct 16, 2016

John Beardslee said:
Has anyone approached IMPBA as a sanctioned club to see if our current insurance carrier would consider adding club trailer coverage?

John I don't think that would be a good idea since the IMPBA has had members try to get accidents with their vehicle at a race site covered by IMPBA insurance. They backed into a light pole with their truck and thought IMPBA insurance should the damage! Another member slipped in his own trailer and again thought the IMPBA insurance should cover his medical costs. These are just a few of the claims I have seen and heard of as a board member.

John Beardslee · Oct 16, 2016

Bill,

I was thinking from a club stand point not an individual, knowing full well that some individuals will abuse an opportunity to get money any way they can!

Thanks John

HTV Boats · Oct 16, 2016

The rate here is for a commercial risk, which this is, has to do with the possibility of multiple people in charge of the risk. Just a fact of a commercial policy. A private party generally takes more diligent care of similar equipment as he owns it. Add the fact that your risk is on wheels and an easy target. $700 a year up for 10 years and you have $7000 to self insure. Buying insurance you are paying a 3rd party (the insurance carrier) to accept the risk.

Mic

bzubee · Oct 17, 2016

Thanks for stepping in Mic you have the knowledge from insurance side for sure!

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