Insuring Your Race Car – A Brief Overview
Cars, like people, come in many different flavors. There are the senior citizens - classic cars that require special insurance in order to be accurately valued, teenagers - cars and trucks that are extremely basic transportation, but cost more to insure because their drivers are inexperienced, mysterious foreigners - exotic performance cars that are seen in limited numbers and always draw the eye, and the vast number of ordinary people - and ordinary cars - which qualify for mainstream insurance. These are the daily drivers. One more class of human being though, is the athlete. Whether they are sports stars or professional dancers, athletic humans have an entire health care industry built around them, which we call sports medicine. The same is true for the athletes of the auto world: race cars.

What Does Race Car Insurance Cover?
Like classic car insurance, race car insurance is specialized coverage unique to specific types of cars that are driven in specific ways, but there the similarities end. While classics are perceived as minimum risk vehicles, race cars are inherently high risk, because they are driven at high speeds in dangerous situations. It seems obvious, then, that race car insurance is a bit more difficult to obtain, and that contacting a company that specializes in such coverage is a must.
Race car insurance is divided into two general types: participant accidents and general liability.
  • Participant Accident Insurance covers only the damage to a race car and the driver's medical expenses in the event of a racing accident.
  • General Liability covers damages to other cars (and drivers), and third party property such as walls and barricades, and provides legal protection should you be sued.
    In addition to these two basic coverage types, however, the average race car policy shares some similarities with classic car policies: coverage for event use. In the case of a classic car, this would mean transportation coverage when traveling to and from a car show, while race cars are covered during travel to and from race events. Comprehensive race car policies should also cover the trailer used to transport the car, damage to the car when on track property (the paddock) but not on the actual track (in a garage, for example) and any necessary gear or equipment, from protective clothing to spare parts and tools.
    Some insurers refer to this as STP - Storage, Transport and Paddock - coverage because it also includes coverage for vandalism and theft of your car, trailer, or gear.

    What Does Race Car Insurance Not Cover
    While tow trailers are usually included under race car coverage, there are several things such policies do not include:
  • Comprehensive or collision coverage for when you're on the street. Race cars are not street legal and you must have a legally insured daily driving car for commuting to and from the track once your race car is there.
  • Medical expenses unrelated to race-incurred accidents. Race car drivers, like anyone else, must carry regular health insurance to be covered off-track in non-event situations.
    Who Sells Race Car Insurance
    Race car insurance policies are generally sold by niche insurers who specialize in things like limousines, tour buses, school buses, and motorsports. A simple internet search for "race car insurance" or "motorsports insurance" will provide several results, which companies can be contacted for information.
    As with any type of insurance, it is best to compare several quotes before committing to any, and to ask if there are any discounts that might help reduce your premium. Demonstrating that your race car is in impeccable condition is one such way you might save money.
    Race car insurance is not as widely available as any other auto insurance, and works in tandem with coverage that racing sponsors and track owners also carry, but it is still your responsibility as an owner or driver to make sure you and your car are adequately covered before you start your engine.
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