SPONSORSHIP??? ...motorsport insurance..!

[metris]

thats a good motto CT...

thanks for the good information garettb16 & CapitalF...

I went in my first hill climb (Ringwood) yesterday, was fun & got a time I was happy with... but I drove an old Honda Prelude that was lent to me by Bill Pearson from Redline Deliveries race team. I got a 37.82, beat all the teams times till one of them blitz'd it with a 37.08... damn.
but i got the second best time of the day in a team of 8 regular racers... cant complain..!
okay enough boasting. it was fun. that is all.

[Cal]

Talk to your employer about sponsoring your race car and giving you the cash as a salary sacrifice. It's all above board and is how I do it. Look up the ATO website under advertising expenses, it actually even mentions race cars.

Cal.

[metris]

thats a great idea Cal!!!
though im not sure that advertising on a race car would bring them any income, but they may just do it anyway...

I was waiting to see what kind of bonus i'll get this year since last year i got 2.5k... that would help a lot...

[Cal]

What do they care? It's your money. It's free advertising for them. So tell them you'd like your bonus paid as sponsorship on the race car. That way you pay no tax on your bonus.

Cal.

[Hellmun]

Taken from the Shannons Product Disclosure Statement and Policy wording.

Club Racing
If this benefit is shown in your shedule, we will pay for loss or damage to your vehicle if at the time of the loss or damage you are driving/riding or using your vehicle.

in any race, pacemaking, reliability trial, speed or hill climbing test but only if such an event is licensed by the confederation of Australian Motor Sport or other body as approved by us in writing.

on a racetrack or testing ground or land immediately adjacting to a racetrack or testing ground if such driving/driding or use is carried out under license from the Confederation of Australian Motor Sport or other body as approved by us in writing

Additional Excess
We will apply an additional excess of $500 to all claims under this endorsement

What is Not Covered
For loss or damage to your vehicle we will not pay any amount in excess of :
the agreed value or
$20,000
whichever is lesser.

We will not pay a claim for legal liability under Section Two of the policy if the event giving rise to your legal liability occurs when you are using your vehicle:

in any race, pacemaking, reliability trial, speed or hill climbing test whether or not licensed by the confederation of Australian Motor Sport

[marcusus]

^^^
Interesting to note.

How do you find out if the events you're attending have CAMS approval or whatever it is they need?

[irwin83r]

metris hows it going!

mate as everyone has said sponsorship isnt something easily gotten and really is earnt not handed out.. and to further that if i were you and i really wanted to get out there and race i wouldnt rely on sponsor ship or free rides to get on the track.

if your really hard on cash look into buying a race car with a friend.. or 4.. ( ) the more people that buy in the more money/incomes that can pay for supply build up and running costs. but like wise the more people that buy in.. the more people that you have to share the driving between..

at our level theres no point going all out and trying to make a show stopper or something thats going to be the best prod sports car out there as i can tell you the slowest part of any car i hop into is the squishy bit behind the wheel.. just look into the different classes of racing available to you and build a car thats competitive or buy one that already is.

i've thought about this constantly for ages and FOR ME i decided the best option was to buy a 5 and aim for prod sports in 4 years.
doing 1-2 years of club racing then 1-2 years of supersprints giving myself time to develop my skills and the car before stripping the car down and building a prod sports car.. doing as much of the work on the car my self as possible to cut down costs and effectively spreading the costs over 4-5years and racing the whole time while slowly progressing into more advanced motorsport.

[CT]

^^^
Interesting to note.

How do you find out if the events you're attending have CAMS approval or whatever it is they need?

Supp Regs always display cams event approval number. Generally, if you need a cams license, it's a cams event.

[metris]

WOW how much good advice can i get???

thanks guys!

Cal= I searched yesterday thru the ATO website for quite a while so that i could print it out and show it to my manager, but I couldnt find exactly what you have spoken of.
Do you know where it is exactly???

Thanks Hellmun for the info on shannons!!! So you are saying that the excess is higher, but no premium increase?
It seems you have to already be a shannons insurance customer, you cant just use them for race insurance, im going to get a quote and see if its competative, if it is i'll transfer...

marcusus, any event you want to compete in, check if its on the CAMS calendar, and check if it is organised by a CAMS affiliated club, AFAIK basically EVERY legal event has to be under a CAMS approval for insurance purposes...

irwin83r, your a patient man... 4 years is a long time! Ive now competed in 3 grass roots events over the last 4 weeks, I cant get enough of it!!!

I had lined up my brother in law and step dad who both want to chip in on a car and race with me, the problem is that i am dead set on an NA8 mx5, thinking that it is quite a responisible realistic car to begin in, but these \"boys\" (both are much older than me) have their heads in the sky. After i talked to them about it they went test driving 180sx and skylines... WTF!!!! THEY HAVE NO RACING EXPERIENCE! ... how the hell are they going to manage to learn car control, lines, braking points etc when your constantly sideways exiting corners... how are they gona manage to NOT write it off the first race... and how are they going to manage to pay for the constant head gaskets, diffs, clutchs, gearboxes and turbo rebuilds???
Excitement turns to disappointment fast...

I may try and persuade them by letting them have a drive of my NB... but... aaah... hmmm...

thanks again for all the info and advice guys... where would i be with out ya!!

[Cal]

Cal= I searched yesterday thru the ATO website for quite a while so that i could print it out and show it to my manager, but I couldnt find exactly what you have spoken of.
Do you know where it is exactly???

I'm looking for it now mate.

Cal.

[marcusus]

Supp Regs always display cams event approval number. Generally, if you need a cams license, it's a cams event.

marcusus, any event you want to compete in, check if its on the CAMS calendar, and check if it is organised by a CAMS affiliated club, AFAIK basically EVERY legal event has to be under a CAMS approval for insurance purposes...

Thanks for the info guys.

So what about club runs on a track? I've only recently become a member, so I haven't had any experience with club runs. I seem to recall something about CAMS having to be notified/involved with any of the club's runs, so would this classify as a CAMS event? Would that mean that, if you were insured with Shannons and you bought the option for "racing", then you're covered whilst on a club run?

[metris]

i hand over to hellmun and CT... tho i believe that even for club runs you need at least a $20 Come & Try CAMS license... unlike track days where I believe you dont need any... (well at least i know that for motorbikes, not 100% with cars)

As for whether or not Shannons will cover that I guess depends on the answer. Which i cant definately give...

I'm looking for it now mate.

Thanks for that Cal! ...dont break a sweat, but if you do find it, please let me know!

[irwin83r]

i seem to recall some companies running track days under the own insurance and there for not having to meet all the cams regs... could be wrong but i think BD4's do this a wakefield from time to time

[Hellmun]

Circuit club are the same, they run their own insurance on the day. They're usually a little more expensive than the cams club days by about $20 but you also are paying for the CAMS license to run in the CAMS event.

On the other hand the CAMS insurance is only for the person IIRC. So if you end up bent as much as your car....you get looked after to a degree. Your car and any damage you car does to the track...is all on your tab.

I'm kinda on a similar path to Irwin. Only had my car about 10 months now and gone from dead last in the modified 1800-2000 class with a standard car with the 17' wheels it came with.... to finally being competitive as the car gets built up...

Hoping to do Supersprints/Clubdays all next year while saving some money. So hopefully 2009 I can get another engine, tear it down and build it up and make a Mock SP/SE. Plus strip and cage the car. Personally I just need Seat, Harness and a pair of CAMs and my car should be solid minus consumables(Tyres/Pads/Oil) all year.