insurance costs?

[BP125V]

Sorry if I missed it in another post, but what is the insurance cost for a weekend race for NBRA? What is the coverage and is it per incident? Does that cover testing on Friday?

[Team 12R]

insurance costs

good question. i'm curious also. i have heard that apba's increase in premiums are a result of losses, claims and unsafe practices of those other than stock, mod and pro outboard. i'd like to know if nbra's coverage is less and how much they pay per sanction. thanks for asking the question bill.

[bill van steenwyk]

Several weeks ago when this question was asked, I seem to remember that the answer to all insurance questions could be found on the NBRA web site, including a copy of the policy.

[blueskyracer]

Several weeks ago when this question was asked, I seem to remember that the answer to all insurance questions could be found on the NBRA web site, including a copy of the policy.

You are very correct Bill.. Here is the link for NBRA:

http://www.racenbra.net/uploads/nbra_brochure_2012.pdf

[kampenracing]

Insurance

Insurance is $1275 per weekend and the policy is on the website.

[kampenracing]

Insurance

Nbra rebates back $250 of the $1275

[Racerkyle20]

You get what you pay for i guess

http://www.apba-racing.com/sites/all...%20summary.pdf

Here's APBA"s. $5 million general liabilty coverage per event. NBRA's is $2 million.

APBA's cover more, but that's probably because the premium is double....So I guess if you want a smaller premium you are going to get less coverage.

Also BTW APBA's new insurance does not cover unlimited hydroplane. They had to go get their own...

[G Stillwill]

There is also a big differance in the driver medical insurance between APBA and NBRA

APBA-Accidental Death and Dismemberment $10,000
Participant Accident Medical Excess Expense $20,000- 2000.00 Deductable

NBRA -Accidental Death and Dismemberment $3,000.00
Participant Accident Medical Excess Expense $3,000.00- 100.00 Deductable

[Staron]

Aof

AOF insurance is over 40 years in supplying for our sport. About $300 for week end (Fri testing also) wihich includes the sanction too. It is 2 million and does what it is meant to do: get a club on the water and covered. It does not include medical as we are not in the medical insurance business. We feel less govt is best and with the savings you can buy AFLAC, or use what you have for personal medical coverage. AOF is very fortunate to be incorporated (44 years ago) in a nonprofit status that is today only reserved for churches and schools. We are grandfathered in and that won't change unless we stop it. We must submit each year a synopsis of what we have done for charities, etc. to keep our nonprofit status. And, we don't really care what you race. We have a place. (or will make a place. Keep politics out and fave a good time. At our prices, we don't have to make money or even have a lot to get us racing. Use us anytime for that last tier offered to clubs for insurance. We don't mind being last. We usually leavethe races with a smile on our faces. And now with the BP support sometimes we even leave with money in our pants.

[Andrew 4CE]

Lets get this in the open all together. This is not saying anyone is better than the other... each has it's pros and cons and suits clubs out there.

This is from info I can gather online. Yes I am shopping for a sanctioning body.

Can anyone fill in the blanks here?

CBF - Canada www.cbfnc.ca
Club Fee: $125
Insurance: $2425 (Stock/Mod/PRO/SLT/J/OPC/Drag)
Sanction: $300
New Racer Membership: $50 (All outboard classes/divisions)
Racer Renewal Membership: $125 (All outboard classes/divisions)
Liabilitity Coverage: $5,000,000
Liability Deductable: $1000
Medical Coverage: $5000 included, other higher options available for addtional personal premium.
Medical Deductable: $0
AD&D: $10,000
AD&D deductable: $0
Insurance carrier: K&K
Note: Membership good at CBF and APBA events, Vision test required every 2 years if Canadian resident. UIM recognized
Approx cost of admin fees to put on a race:
$2850

APBA www.apba-racing.com
Club Fee: $185
Insurance: $2488 (Stock/Mod/Pro/J/SLT)
Sanction: $400 (if filed online)
New Racer Membership: $225 (Stock/mod/Pro)
Racer Renewal Membership: $225 (Stock/mod/Pro)
Liabilitity Coverage: $5,000,000
Liability Deductable:________
Medical Coverage: $20,000
Medical Deductable: $2000
AD&D: $10,000
AD&D deductable: $0
Insurance carrier: American Specialty Insurance
Note: Membership good at CBF and APBA events. Will sanction in Canada if CBF does not already sanction the watersport sport in question (ie PWC). UIM recognized
Approx cost of admin fees to put on a race:
$3073

NBRA www.racenbra.net
Club Fee: $60
Insurance: $1275, rebate of $250
Sanction: $100
New Racer Membership: $80 (all classes)
Racer Renewal Membership: $80 (all classes)
Liabilitity Coverage: $2,000,000
Liability Deductable: ______
Medical Coverage: $3000
Medical Deductable: $100
AD&D: $3,000
AD&D deductable: $0
Insurance carrier: K&K
Approx cost of admin fees to put on a race:
$1185

AOF - East/Florida no website (use Hydroracer), call 866-699-9701
Club Fee: $60
Insurance: Average of $300, rates quoted event by event.
Sanction: $60 (first event free)
New Racer Membership: $75 (all classes)
Racer Renewal Membership: $75 (all classes)
Liabilitity Coverage: $2,000,000
Liability Deductable:______
Medical Coverage: AOF $2000 Hospital Trust Fund, if there is a claim before you and pot goes down, pot gets rebuilt $25 per AOF joining membership.
Medical Deductable: $250
AD&D: AOF $2000 Hospital Trust Fund, if there is a claim before you and pot goes down, pot gets rebuilt $25 per AOF joining membership.
AD&D deductable: $0
Insurance carrier: Essex
Notes: Will sanction events in Canada or USA
Approx cost of admin fees to put on a race:
$360

AOF - West/Washington www.aofboatracing.org
Club Fee:$100
Insurance: _____
Sanction: $100
New Racer Membership: $75 (all classes)
Racer Renewal Membership: $75 (all classes)
Liabilitity Coverage: $2,000,000
Liability Deductable: ____
Medical Coverage: _____
Medical Deductable: _____
AD&D: ____
AD&D deductable: _____
Insurance carrier: _____
Approx cost of admin fees to put on a race:
(about $500 mentioned on website, will update with actuals once blanks are filled in)

Any Others?

OUTSIDE COMPANIES WHO WILL PROVIDE MOTORSPORT RACING MEDICAL COVERAGE:
(know of any?)

[Staron]

Sorry Andrew, I thought that I sent evrything to you. Membership for a club in the oriiginal AOF is $60 a year and with that you get one free sanction. A sanctionis $60. Membership fees are 75 full or $25 a race and can add each time to make a full membership. AOF has a Hospital Trust Fund that pays up to $2000 for medical claim, with $250 deductable. I say up to because right now because of a bad accident in Idaho the hopital trust fund is very low. Everytime a full membership is paid, $25 goes in that fund. So, I guess you can say we are self insured medically, to a point. We should shortly have the Hosp. trust fund built back up so we can pay the 2000 per accident.
Our website is HRTV. What else do we need? Basically, we encourage the clubs to run thier own show, set rules for their needs, etc. We do have a rulebook, but special events are encouraged. In otherwords, all classes approved by the Executive Director can be run, and we let you run it your way. We keep national points if you would like us to. If not, then keep your own. We figure that you save a lot of money with us, so you have a lot of money left for advertisement, group medical insurance per race that you get locally (lie Aflac or Nationwide, etc). andyour own club website. We believe that the national AOF office should stay out of your business as much as possible. You pretty much have have free reign with us. We really don't care if we have specators or not. If you are a club that wants spectators, then go for it. Someone in Florida cannot promote a race in Canada. Your club will do a better job than a national office. We believe that the foundation of boat racing is weak. We are building from the ground up, not the top down. Just our way. Selling nothing. Join us if you want, don't if you don't want to. We tried the promoting thing in AOF and had lots of clubs and lots of members. We are just your backyard boat racing right n ow. Love it. Most of our members are either APBA or NBRA also. We encourage everyone to race and promote the sport locally as much as they can. We love the idea of Lucas, but not everyone has a facility like that in driving distance to them, so we need to keep the local stuff happening too.

[Andrew 4CE]

Thanks Carl, you did send everything except the cost of insurance. It is at home, so I just left blank for now.

The cost of insurance would be great to list though rather than "about".

I'll update the other values right now.

[Staron]

Reread your post. For the original AOF, you can say $2000 for medical with $250 deductable. (We have never enforced that). And for Ad & D it is also $2000 with no deductable. Carrier is Essex. We also allow our clubs to get their own approved insurance (AOF will need to be named) if they find something cheaper. We have two clubs that do that. One in New York and one in Wasshington. In all the years we have had only two insurance agents, all with the same company. The comapny is rated A plus. And have paid immediately when needed for liability. I do need to add that we are at the mercy of our insurance company as to the costs. Once a sanctionis applied for, then it is reviewed by the carrier. Sometimes they cahrge a cheaper rate, sometimes they charge more. So basically the average would be $300 for the week end. They take into consideration all of the safety factors, etc. Again, we are not selling you on us. We are here if you need us. Carl B Staron
ps. there are some clubs who use us for one race a year to make enough money to pay for their other races and some who use us for cheap test sessions.

[Andrew 4CE]

Thank you Carl. Are you happy with how that reads now?

Do you have a deducatable for liability?

[Staron]

Love how it reads Andrew. Now I need to go back and edit the rulbook and change the Hosptial trust fund to "Pot" Will make life much easier. lol