How to Get Insurance for Race Cars

Race car drivers encounter a number of risks on the track. These may include accidents or run-ins with fellow competitors, engine problems, fires and vehicle debris that are difficult to anticipate in practice. Your racing team needs to get insurance designed especially for race cars to avoid financial ruin due to a crash.

Things You'll Need

  • Digital camera
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Instructions

    • 1

      Search for a specialty insurance company with experience in protecting race teams from financial damage. Traditional insurers cannot cover race cars, trailers and other equipment due to the high level of risk involved in the sport. Examples of insurance companies that cover race cars are Heacock Classic Insurance, Allied Specialty Insurance and Hot Rod Insurance (see Resources below).

    • 2

      Compile maintenance records for your race cars going back to the date of purchase. Your insurance company will provide a high premium quote if your team has failed to keep the vehicle in excellent shape.

    • 3

      Spend time going over insurance forms with your drivers to complete the application quickly. Your drivers need to provide contact information, past criminal history and notes on past health problems to help your insurance company create an accurate quote.

    • 4

      Insure your trailers and delivery trucks when you get insurance for your race cars. Trailer insurance is a necessity for teams that travel throughout the region and encounter bad drivers, inclement weather and damaging debris.

    • 5

      Safeguard the condition of race cars in storage when you get insurance for your garage. Provide information on locks, alarm systems and protective measures in your garage to get a better rate.

    • 6

      Play around with deductibles and optional coverage on insurance for your race cars to cut down on prices. Young teams with an uncertain future beyond next season should purchase high-deductible insurance to cut down on monthly premiums.

    • 7

      Complete your application for race car insurance with a few photos of the vehicle in question. Take photos of the engine as well as front, side and back views of the car with a digital camera as attachments to your application.

    • 8

      Gather your mechanics, drivers and other staff members to inventory every part in your garage. Insurance companies provide coverage for the cost of necessary parts and equipment needed for race cars.