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As a general rule, you’ll need specialty insurance to cover damage to a vehicle on a track or while it’s racing in a competitive event. You can also find insurance to cover a vehicle that’s in storage, in transport or being driven elsewhere on the site. Compare policies to find the right coverage based on your vehicle and situation.
Discover coverage that’s broader than competitors, valuable discounts up to 30% off and perks like shrinking deductibles that reward no claims.
There are many types of race cars. Here are some that you can find insurance for:
Several providers will insure vehicles for track-day use, but the coverage can vary. A few specialty providers — like Heacock and Lockton — offer racing coverage. Others, like Hagerty, offer coverage for your vehicle while it’s on the track for both competitive and noncompetitive events. Track-day insurance protects against:
There are also coverage options for competitive and noncompetitive time trials, towing and storage, rental car reimbursement and pollutant cleanup and removal. However, they don’t cover liability, so you may be on the hook for damage to other vehicles.
The right option depends on what kind of car you drive and what kind of motorsports you’re involved with. The main deciding factor is if your car is street legal.
Street-legal racing cars need to meet certain standards for everyday driving. This group includes classic muscle cars like a 1969 Camaro, luxury cars like the BMW E36 or imported cars such as Bugatti or Koenigsegg. To insure a street-legal car that you also use for racing, consider luxury car insurance. This pricey yet comprehensive car insurance has some added benefits that may be included.
You can find insurance for your non-street legal race car, but not for when it’s on the track. The two types of coverage available for non-street legal cars include limited collision and comprehensive.
Limited collision covers your car while:
Comprehensive covers damages that do not result from an accident, including:
Basic insurance might not cover you for every situation you might encounter. Here are some additional coverages you might want to consider:
Compare car insurance companies near you.
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The key to finding the best motorsports car insurance value is to first figure out what you do and don’t need. If you’re open to other options, you may be able to cut costs since coverage is largely tailored to individual needs. Compare your options from multiple providers to find the best coverage for your situation.
Picture: Shutterstock
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