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.
What racing cars can I insure?
There are many types of race cars. Here are some that you can find insurance for:
- Vintage race cars
- Nostalgia dragsters
- Nostalgia funny cars
- Pro street
- Street-legal race cars
- Vintage raced motorcycles
- Vintage dirt track motorcycles
- Vintage motocross bikes
- Rally cars
- Muscle cars
- Hot rods
- Purpose-built race cars (non-street legal)
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:
- Damage while participating in a high-performance event.
- Damage while on the track and in the paddock.
- Physical damage you caused, one additional pre-approved driver and your driving instructor.
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.
Other ways to insure a racing vehicle
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.
Insuring street-legal racing vehicles
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.
- Coverage for performance-enhancing modifications
- Ability to retain salvage rights if the car is totaled
- Layup periods and limited-use discounts
- Cost of importing parts
- Choose your own repairer instead of using the insurer’s
- Some coverage while participating in approved motorsports events
Compare insurance for street-legal sports cars
Insuring non-street-legal racing vehicles
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:
- Being loaded or unloaded from the trailer
- In transport by trailer
- On display in the paddock or show area
- In the paddock or being driven to and from
- In storage
- At a service facility
Comprehensive covers damages that do not result from an accident, including:
- Natural disaster
Is there any additional insurance I should consider?
Basic insurance might not cover you for every situation you might encounter. Here are some additional coverages you might want to consider:
- Trailer and paddock coverage. You’ll be covered in the trailer, in the paddock and while in storage or at the shop.
- Time trial coverage. Get tailored protection against damage to race vehicles while on the track during competitive and non-competitive time trials.
- Agreed value coverage. In the event your race car is totaled, you’ll receive the full value that you agreed upon when purchasing coverage.
- Vehicle modifications. Get covered for modifications such as paint jobs or body kits.
- Track day coverage. Protect your car on the track while participating in an HPDE event.
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.
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