Race Car Insurance

Race car insurance coverage is a specialized type of insurance protection for high-risk drivers. Expect to pay $650 to $1,000 a year for coverage.

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Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: May 20, 2020

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Here's what you need to know...

  • Race car insurance coverage is a specialized type of insurance protection for high-risk drivers
  • Insurance companies offer general liability and participant accident protection to race car owners
  • Expect to pay anywhere from $650 to $1,000 a year for race car coverage
  • Take the time to investigate the company and coverage options before choosing one as your provider

While consumers need to know what they are buying anytime they purchase insurance, being familiar with your coverage options is even more important when it comes to insurance for a sprint car or race car.

Insurance for motorsport drivers is generally more expensive than other drivers because they are a higher risk to insurance companies.

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Do you need insurance to race cars?

General liability coverage for a race car is similar to liability insurance for a regular car. It pays for the damage that the driver may cause, including the cost of repairing the other vehicle and any third party property.

Here are some other types of car insurance coverage to keep in mind:

  • General liability pays for the medical bills and rehabilitation expense and for the cost of legal representation if you are sued to recover damages following the accident
  • Participant accident insurance covers the race car owned by the policyholder and pays for the driver’s medical expenses

A race car insurance policy should also include coverage to protect the vehicle while it is being transported to and from different racing events. The trailer used to transport the race car should also be included on the insurance policy.

The insurance should also cover any damage to the car while it is on the track property but not on the race track itself.

Any equipment or gear needed for the race car should also be protected by the insurance coverage. Spare parts for the car, as well as tools and protective equipment, would be covered under a good policy.

The policy should also include coverage for acts of vandalism and theft of the race car itself, its trailer or the gear required to drive or service it.

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Race Car Insurance and Policy Exclusions

Race car insurance coverage does not provide protection in all circumstances. For example, a race car is not insured if it is on the street.

These vehicles are not street legal, and a separate policy must be purchased for the car being used to tow the trailer transporting the car to the race track.

The race car insurance policy will only cover medical bills that stem from injuries related to the accident.

The driver must have separate health insurance coverage to pay for medical bills unrelated to a track-related event.

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Where to Buy Race Car Insurance

Race car insurance is a specialized type of coverage and is sold by car insurers who specialize in this niche market.

Look for a company that regularly insures other specialized vehicles, such as school buses, tour buses, and limousines.

Going online and conducting a search for “race car insurance” will bring up results for companies that offer this type of coverage.

As with any other type of insurance coverage, the key to getting the best rates is to shop around.

Even within this niche market, there is more than one company offering coverage and the rates can vary significantly between providers.

Before you choose an insurance company to provide coverage for your race car, take the time to investigate the company itself as well. You will want to choose one that has been in business for several years and that is well established.

Along with choosing a quality company, you will want to find one that has the financial resources to pay out on a claim. You can check the financial ratings through websites such as AM Best or Moody’s.

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