INSURANCE?
01-11-2006, 06:07 PM
#1
INSURANCE?
We are starting a new club and track. How do we go about getting insurance? How much does it cost?
01-11-2006, 06:47 PM
#2
Tech Adept
Originally Posted by KENZO88
We are starting a new club and track. How do we go about getting insurance? How much does it cost?
01-11-2006, 07:12 PM
#3
I heard that they were having some problems. Is this true? Is there any other insurance out there?
01-11-2006, 07:18 PM
#4
No. It is not true. ROAR is at its strongest right now with over 6,000 members and currently with financial holdings exceeding six figures to enable the organization to put in place many managerial changes including Race Management Teams for national venues.
ROAR insurance is most likely the cheapest and most inclusive liability insurance for you, the racer and the track/land owner out there. Click on this link: http://www.roarracing.com/faq.php for a description of the insurance and www.roarracing.com for the entire website for ROAR.
The tabs on the top of the home page include a 'join' section that gives you information for joining as a member or a track or an industry affiliate. http://www.roarracing.com/join.php
ROAR insurance is most likely the cheapest and most inclusive liability insurance for you, the racer and the track/land owner out there. Click on this link: http://www.roarracing.com/faq.php for a description of the insurance and www.roarracing.com for the entire website for ROAR.
The tabs on the top of the home page include a 'join' section that gives you information for joining as a member or a track or an industry affiliate. http://www.roarracing.com/join.php
01-11-2006, 09:04 PM
#6
Our club has group insurance with a bunch of local clubs(RC CARS/RC BOATS/SLOT CARS and RC AIR PLANES) ITs covers everyone under one policy. Last i checked we paid 500$ a year split by 4 clubs.(no one individual pays for it the clubs do) We dont bother with ROAR since we are in Canada. Also it ads way to much cost to the idividual members. ROAR fees+TRack Fees+club membership=too much fees.
01-11-2006, 09:11 PM
#7
Tech Master
Yep, I'll have to agree. In order for your racers to be covered, they must join ROAR as well as your club. I've found over many years of running one of our local clubs that most all of our racers refused to come out of pocket to pay to join ROAR. If we made it mandantory to be a ROAR member, we would have lost 80 to 90 percent of our members. Also.... Having them sign a liability release waiver WILL NOT prevent you from being sued in the event that someone gets hurt.
John Warner
Great Lakes Racers Club, inc
Grand Rapids, Michigan
John Warner
Great Lakes Racers Club, inc
Grand Rapids, Michigan
01-11-2006, 10:28 PM
#9
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I have nothing against ROAR, with that said and I could be very wrong but I think AMA's insurance covers r/c cars as well as airplanes.
01-12-2006, 01:49 AM
#10
Be aware that there are more liabilities than somebody getting hurt. Especially if you have your track in a building, with a hobby shop.
You need to cover the business, building, and your goods against fire and theft. You'd probably be looking at a couple grand a year, but not sure.
I'm a licensed insurance agent, but dealt with mostly construction contractors, a different kind of coverage. I would look into the ROAR coverage, but understand it may not provide all the coverage you need.
Be sure to have casualty insurance (which covers you) to help you if something catastrophic happens to the business. IAnd you MUST have liability, to cover your customers (racers).
You need to cover the business, building, and your goods against fire and theft. You'd probably be looking at a couple grand a year, but not sure.
I'm a licensed insurance agent, but dealt with mostly construction contractors, a different kind of coverage. I would look into the ROAR coverage, but understand it may not provide all the coverage you need.
Be sure to have casualty insurance (which covers you) to help you if something catastrophic happens to the business. IAnd you MUST have liability, to cover your customers (racers).
01-12-2006, 03:47 AM
#11
Are track is going to be at a county park, which I'm sure has some type of insurance. So I'm asssuming that we would need some sort of secondary coverage.
01-12-2006, 07:31 AM
#12
You'll need liability coverage. Our club has an outdoor offroad track on city owned property, and an Indoor onroad track in a building of a non profit org. We insure both on one policy and our yearly premium is about $1600.
01-12-2006, 10:09 AM
#13
Originally Posted by Joel Lagace
We dont bother with ROAR since we are in Canada. Also it ads way to much cost to the idividual members. ROAR fees+TRack Fees+club membership=too much fees.
So, for $65.00 (US) annual which is about $80.00 Canada, I believe.
01-12-2006, 10:10 AM
#14
Originally Posted by minicooper
I have nothing against ROAR, with that said and I could be very wrong but I think AMA's insurance covers r/c cars as well as airplanes.
That is not correct. We have checked into that rumor several times.
01-12-2006, 12:12 PM
#15
So,.....I guess that we'll check into ROAR. It seems like the most inexpensive. Our club is just starting out so there is not a lot of members. But, being the only r/c club in a fifty mile radius, we feel that we are going to grow very rapidly. That's about a 300,000 population area.