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Author Topic: USFRA Insurance  (Read 1836 times)
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RogerL
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« on: October 27, 2014, 04:45:08 PM »

WOS Racers,

I have attached a flyer I received from Team Vesco regarding insurance for the WOS event. It has become apparent that the USFRA does not have a underlying insurance policy to provide basic litigation protection in the event of an incident. I am sure you all can appreciate in our litigious society a lawsuit is highly likely should there be an incident involving non-racers. The USFRA is considering acquiring the umbrella insurance for 2015 and has asked for input from the racers. The added cost is estimated to be 50 bucks per entry, pretty insignificant considering the money and time we all have invested. If you support the USFRA in acquiring the insurance, please let them know asap. Thanks.

Roger Lessman
Lessman Racing, Inc.

* BonnInsur.pdf (372.34 KB - downloaded 135 times.)
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edinlr
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« Reply #1 on: October 27, 2014, 08:55:24 PM »

Wow, $50 for coverage is cheap.  I am in the nursing home business and this is a miniscule amount for the amount of grief it can save you.
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7800ebs
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« Reply #2 on: October 27, 2014, 10:01:10 PM »

Seems cheap to me too... $50 of Fuel gets me to the 2.25 mile marker ... barely.......    cheers
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Milwaukee Midget
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« Reply #3 on: October 27, 2014, 10:50:55 PM »


The added cost is estimated to be 50 bucks per entry, pretty insignificant considering the money and time we all have invested.



4 questions -

1. What was the estimate based on?  This year saw a larger than average turn-out of participants. 

2. What is the total cost of the insurance to the organization to cover the event?

3. What contingency is in place to cover the insurance cost if the event is cancelled due to inclement weather?

4. The World of Speed is unusual in that they permit vehicles that are not completely prepared as racing vehicles in the 130 and 150 mph clubs, and in the VW aspect of the event.  Would buying into a policy preclude these vehicles from participating?

My opinion is this - even if it wound up being 4 times the estimate, the cost of entry fees is among the lowest cash outlays we typically incur.

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