In 1894, less than a decade after Karl Benz built the world’s first practical automobile powered by a gas engine, the world’s first motoring competition was held. The 21 contestants raced 78 miles from Paris to Rouen. The winner, Jules-Albert de Dion, reached the finish line in six hours and 48 minutes at an average speed of 11 miles per hour.
Today, vintage car rally races are a popular way for owners to gather, share their passion and use their classic cars as they were intended: for spirited, competitive driving. Yet as fun as these rallies are, they can be hazardous. Speed tests, hill climbs and tight turns can push an older car or its driver past their limits, leading to crashes and other mishaps that cause vehicle damage. And because parts tend to be expensive, as do labor costs associated with rebuilds and restorations, getting a damaged classic repaired calls for a bigger outlay than fixing a normal car.
It is crucial that you have the proper insurance on your vehicle before your rally event starts. Policies that cover classic cars used in rallies often need to be written by specialty insurers. Hagerty, for example, is a company that covers classics that are driven in rallies, provided that the vehicles do not break legal speed limits or are otherwise driven unsafely. However, even specialty insurers might have exclusions in their policies for damages sustained in certain types of competitions such as on-track races, as opposed to rallies that take place on normal roads. Make sure to read and understand your insurance policy prior to entering any rally, and ask the insurer or a lawyer to weigh in if you aren’t sure you’ll be covered for an event.
Ideally, you should find an insurer that provides “agreed value” coverage for your classic. This coverage is the best option for classics because it is based on appraisals, photos and other verifiable information. The insurer promises to pay out the full agreed-upon value if your car becomes a total loss in a covered accident. You should also consider carrying property, collision and comprehensive coverages on your classic, just as you do with your daily driver. Having all appropriate insurance coverages is a good way to make sure any damage your car sustains can be compensated for.
At Gesmonde, Pietrosimone & Sgrignari, L.L.C. our Connecticut attorneys know all the ins and outs of classic car insurance and can help you select coverages up front, or, if you were in an unfortunate accident, we can help you pursue the compensation you need. Call 203-745-0942 or contact us online for a consultation in Hamden or East Haven.
Gesmonde, Pietrosimone & Sgrignari, L.L.C. is located in Hamden, CT and serves clients in and around North Haven, Hamden, Waterbury, Bethany, Milford, Wallingford, Prospect, Woodbridge, Northford, Madison, Beacon Falls, Branford, Cheshire, North Branford, East Haven, Naugatuck, Meriden, Ansonia and New Haven County.
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