Track car- to insure or not??

[Chris]

So I'm at a point with the e30 where I rarely drive it on the street. when I do, its basically around my business park and down a street to warm it up and test it out. I also bed in pads on the street... and thats about it.

So what have you guys done with track only cars? Does having insurance help when towing the car if something were to happen? How do you bed in pads at the track? I don't want to waste a session to bed in pads. Do you still just drive the car on the street (short distances) without insurance and take the risk?

I only have liability on the car so I need to check my policy to see about theft related issues.

So when do you decide to not insure a car? I'd like to save on insurance costs.

[PDenbigh]

I still have covereage on the XR even though it's not even street legal. I have for a few reasons:

1. If someone hits me while towing it. While my auto insurance "should" cover it, I'd rather be safe than sorry.

2. If I do something stupid (or have something stupid done to) in the paddock

3. If my garage burns down

4. Something random that I would never imagine.

It doesn't cost much and it's good peace of mind. I work by the philosophy that if it gets torn up at the track, it's on me. If it gets torn up elsewhere, I will turn it in to insurance.

If you insure it as a weekend car and put that you drive it about 20 miles a year your rates shouldn't be too bad.

[Apoc]

When it's no longer registered at the DMV.

[Dave]

if it isn't costing you much $$, then there's no reason to drop the coverage. I'd say that if you're paying more than $10/month, you need to call them up and see what can be done to get it lower. Point out that it isn't driven more than once a month on average and work from there.

Ninja edit: $10/month might be a little low. Do a calculation to estimate how much you have in the car, and then evenly amortize that over 2-4 years. Use the $/month figure to give you a baseline of whether it is worth it to insure.

[BLINGMW]

That would be my first question, how much is it really costing you? I mean, when I had my e30 on our insurance, I think it actually was lower than without it. I guess they figured anytime I was driving that piece was time I couldn't be wrecking the Mini. Same with the old Accord, I think when I took it off our insurance, it went up.

The CORRECT answer of course is that it should be insured. I'm guessing whatever little it's costing you is probably worth it to stay legal.

[Apoc]

There is something called "transport and storage" insurance, you should look into it if you don't expect to drive it on the street.

A guy that supposed to be racing with us this weekend just had this happen. That's his race car on the left.

[Chris]

cool, very good advice. I'll look into a few things now.

[Chris]

I have another question for you guys. I looked through the DMV's website and I can't find an easy answer.

Say I have a vehicle I picked up from a friend. I don't plan on doing anything with the car, therefore I don't want to register or insure it. Basically I just want to keep it and have it sit.

1. Is this even legal?
2. I did this with the e30 and waited about a year to register it, which was a mistake.
3. From reading the DMV's site, I think I can just title a vehicle, as it states "after your vehicle is titled you MAY register it. So, as long as ownership is shown, you might not have to have it registered. I think the big concern is insurance, registration, and actually driving it on the road.
4. could this pose a problem if I wanted to register and insure it later on?

<!-- m --><a class="postlink" href="http://www.dmv.state.va.us/webdoc/citizen/vehicles/titling.asp">http://www.dmv.state.va.us/webdoc/citiz ... itling.asp</a><!-- m -->

[Dave]

I have another question for you guys. I looked through the DMV's website and I can't find an easy answer.

Say I have a vehicle I picked up from a friend. I don't plan on doing anything with the car, therefore I don't want to register or insure it. Basically I just want to keep it and have it sit.

1. Is this even legal?
2. I did this with the e30 and waited about a year to register it, which was a mistake.
3. From reading the DMV's site, I think I can just title a vehicle, as it states "after your vehicle is titled you MAY register it. So, as long as ownership is shown, you might not have to have it registered. I think the big concern is insurance, registration, and actually driving it on the road.
4. could this pose a problem if I wanted to register and insure it later on?

<!-- m --><a class="postlink" href="http://www.dmv.state.va.us/webdoc/citizen/vehicles/titling.asp">http://www.dmv.state.va.us/webdoc/citiz ... itling.asp</a><!-- m -->

The biggest question is how long it will be sitting.

There is nothing wrong with titling now and registering later, but your ass is grass if you are caught driving it. This is what I would do.

[CaptainHenreh]

You MUST title it within 30 days but you don't have to register or insure it unless you plan on operating it on a public road.

[Mike]

You MUST title it within 30 days but you don't have to register or insure it unless you plan on operating it on a public road.

so that integra sitting in my driveway is technically illegal? i don't wanna pay taxes on it!

[CaptainHenreh]

You MUST title it within 30 days but you don't have to register or insure it unless you plan on operating it on a public road.

so that integra sitting in my driveway is technically illegal? i don't wanna pay taxes on it!

That's why it's illegal, Mikey. :lol:

[Mike]

You MUST title it within 30 days but you don't have to register or insure it unless you plan on operating it on a public road.

so that integra sitting in my driveway is technically illegal? i don't wanna pay taxes on it!

That's why it's illegal, Mikey. :lol:

damnit. what's gonna happen when i go to sell it? will the dmv get in touch?

[CaptainHenreh]

You MUST title it within 30 days but you don't have to register or insure it unless you plan on operating it on a public road.

so that integra sitting in my driveway is technically illegal? i don't wanna pay taxes on it!

That's why it's illegal, Mikey. :lol:

damnit. what's gonna happen when i go to sell it? will the dmv get in touch?

Well, if you didn't sign the title, nothing is going to happen at all, because no one will know.

However, by not fully filling out a title upon receipt of a vehicle, you have committed a class 3 misdemeanor in the state of Virginia. (Ask me how I know! :wink

[Apoc]

FWIW, RJ has said previously that a majority of his vehicles were never in his name but that of the previous owner. Granted he sells them every 7th week but... yeah.

[Mike]

yeah, i didn't sign the title so i'm not even in the mix i suppose. i'll go ahead and put the car cover back on it tonight

[.RJ]

^word

[Evan]

When it's no longer registered at the DMV.

+1

you might still want to insure it for theft and transport, which is pretty cheap