Yes, you can insure a race car, but it requires a specialized policy from a provider that understands motorsports. A standard auto insurance policy explicitly excludes coverage for any organized racing, timed events, or practice sessions on a track. For track use, you need a dedicated motorsport insurance policy.
These specialized policies are designed around the high-risk nature of racing. Key coverage options include:
- On-Track Coverage: This is the core component, protecting against collision, rollovers, and damage during official events or practice sessions.
- Liability Coverage: Essential for protecting you if your actions on the track cause injury to another driver or damage to track property.
- Physical Damage Coverage: Covers repairs to your own car from accidents, fire, or theft, often with an agreed-uppon value set before the season.
- Off-Track/Transit Coverage: Protects the vehicle while it's being transported to and from events or in your garage.
The cost is significantly higher than standard insurance and is calculated based on several factors. The table below outlines typical variables insurers consider.
| Factor | Impact on Premium & Details |
|---|
| Driver's Experience | Licensed professionals often pay less than amateur novices. |
| Type of Racing | Formula cars or sprint racing are higher risk than touring car endurance events. |
| Vehicle Value | A $200,000 vintage race car costs more to insure than a $20,000 Spec Miata. |
| Race Event Level | Regional club events are lower risk than national or professional series. |
| Safety Equipment | Modern roll cages, harnesses, and fire systems can help reduce premiums. |
| Deductible Choice | A higher deductible (e.g., $5,000) will lower your annual premium cost. |
| Annual Mileage | Limited track time (e.g., 5 events/year) can be factored into a lower rate. |
It's crucial to be transparent with your insurer about the car's exclusive use. Never assume a standard policy offers any track protection. Major providers in this niche include Hagerty, Grundy, and Lockton Motorsports, who can tailor a policy to your specific racing activities.
