Insurance

[Doc Watson]

I recently tried to get insurance thru a major national insurance company. They stated they do not insure racing iceboats.
Two veteran racers have told me that it is impossible to get insurance for RACING.
So, how does everyone comply with the requirements on the entry form for the North American Championship?

Doc

[DN5456]

Most people just have their homeowners policy that cover's the liability insurance you need with a $300,000!!

[Bob Rast DN1313]

First were you looking for Liability or insurance to cover equipment. The Equipment would probably be covered under Homeowners check with your Homeowner casualty agent. Several years ago I was licensed for Health and Life insurance and inquired with a number of Brokers who specialized in special events and school sport insurance. I soon as you mention Ice the are not interested. The best option barring any type of group insurance or event insurance would be a Individual Umbrella liability insurance policy,$500,000 to $1,million to protect your self.might not be much more for a larger policy , ask your home owner agent. Also note if you have private individual Health insurance they don't cover any medical issues arising form "contest of Speed" Dont mention RACING you be better to describe the sport as Sailing. IE Not a contest of Speed But a contest of SKILL.
In europe they do have a company that provides event coverage But I'm sure they dont want to take any risk across the pond.
Good Luck
Dn1313
Bob rast

[Ken Smith]

My homeowners policy is with USAA.

I specifically asked about liability coverage for racing at the world's and they sent me, at my request a letter confirming that I have liability coverage, if I am personally liable, for any damages.  They do not indemnify the race committee or organization.

This means: 

1.  I self insure my equipment.  I could not find anyone (progresssive, Boat US, USAA) who would insure the equipment.

2.  I read carefully the release clauses associated with regattas.  If the release clause says I indemnify the organizers, I line the indemnity language out and initial that line. 

3.  I understand that if I break someone else's boat, the insurance would not pay unless I was sued, so I am probably really self insured for minor losses up to a new boat.

4. If there is major injury or accident, I will call the insurance to let them know and it will be ugly...

5.  I am very very careful to avoid collisions and accidents.