insurance costs?

[Andrew 4CE]

LOL Great Carl.

I reduced race cost to $360 stating first race sanction is free. Second race would not have $60 club membership so balances out at $360.

Thank you for your quick input.

[Staron]

This thread should be bumped.

[14-H]

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

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

No, he is not correct. That is not a copy of the policy. It is a coverage brochure.

[14-H]

http://www.hydroracer.net/forums/sho...034#post208034

[14-H]

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?)

This is helpful. But you are missing one MAJOR difference between AOF's coverage and, apparently, all of the other organizations: AOF's only provides errors and omissions coverage to the officers and directors of the organization. It does not provide event liability coverage for race officials or participants. Thus, you DO NOT HAVE $2 Million in coverage if someone sues you for an accident at a race site under AOF's policy!

DISCLAIMER: The above statements are based upon my review of AOF's policies of insurance (the actual policy, not a coverage brochure) approximately 15 years ago and Carl Staron's statements today that the coverage has not changed in over 20 years.

[PROPDOC]

This is helpful. But you are missing one MAJOR difference between AOF's coverage and, apparently, all of the other organizations: AOF's only provides errors and omissions coverage to the officers and directors of the organization. It does not provide event liability coverage for race officials or participants. Thus, you DO NOT HAVE $2 Million in coverage if someone sues you for an accident at a race site under AOF's policy!

DISCLAIMER: The above statements are based upon my review of AOF's policies of insurance (the actual policy, not a coverage brochure) approximately 15 years ago and Carl Staron's statements today that the coverage has not changed in over 20 years.

Please explain what it is that makes you the expert on this subject and why you care so much about what the other orginizations do? If you don't like it then stay with APBA.

[blueskyracer]

How is it that when folks get digruntled with APBA they always try to pull NBRA into it...We are alive and well and growing.. Excess money is taken in but given back to the clubs to give out as tow money and help with insurance costs and not used for web site upgrades..

Also I hate to say it but if you race relying on Med coverage from the sanctioning body if you get hurt then you are Nuts!!! Everyone should have their own coverage

Just my 2 cents and if I was a APBA member I would vote for Howard in a heart beat

[Staron]

Ed, no disrespect. I feel that in many cases involving the law (lawsuit) "the proof is in the pudding" so to speak. Unfortunately AOF was sued a couple of years ago by a spectator who was hurt at a race. (And btw, had sneaked in without signing a waiver). Were we scared? You bet. Luckily we learned a lot about our policy and we were covered. Yes, even the Referee as you have said probably would not be. The company (essex) paid without hastle and did not raise our rates. I am not sure what you reviewed. But we were all covered and we had a very very respectable inurance attorney hadling the situation.
Ps. I meant to say we have had the same COMPANY for 40 years. We have made many changes to the policy as times change and the needs change. We do also carry an Errors and Ommissions for the officers and BOD. Maybe that is what you reviewed?
And the attorney told us that what we have is very much sufficient to "get us on the water and cover our "assets".
We make no claims to have the fancy bells and wihistles that other organiztions have. But the proof was in the pudding in the court of law and we were covered. That is all I know, other than I would like to see lots of boat racing. Propeller or not or great insurance or not. We cannot build unless we have a good foundation for racing. The more racing, the more exposure. Each organiztion has something to bring to the table and we should all be working together, not against each other. AOF can offer affordable racing when the other alternatives are a too expensive option. For that we are proud. (And btw, we have not had one major munincipality and all of their attorneys ever have an issue with our coverage.)
Carl

[kampenracing]

Insurance

Nbra insurance has the coverage that you speak of.