If you’re a car owner who wants to get the most out of your vehicle, you’re probably looking for ways to showcase your car’s power and performance. And what better way to do that than by taking it to the racetrack to compete in a race? But before you hit the gas pedal, you might be wondering: Does car insurance cover your vehicle at the racetrack? Here’s what you need to know about the implications of car racing on your car insurance.
Does Standard Car Insurance Cover Racing Damage?
Standard car insurance policies do not cover damages sustained while racing. These include damage to the vehicle itself and any injuries sustained by the driver or passengers. This is because racing is a high-risk activity that can significantly damage your vehicle. Drag racing, autocross, rallies, and track days are examples of amateur motorsports exempted from standard vehicle insurance.
If you plan on racing your car, it is essential to purchase a separate racing insurance policy that will cover any damages. These policies tend to be more expensive than standard policies. However, they provide assurance for those who participate in this dangerous sport. If you’re keen on finding an insurance company that can offer coverage for racing, it’s best to shop around and compare rates from different providers.
Make sure you understand the coverage offered by each policy before deciding. You can research online reviews to get an idea of each company’s customer service quality. For example, if you’re keen on learning more about what Geico offers, read as many Geico insurance reviews as possible.
What Are Your Options for Insurance if You Want to Race Your Car?
There are a few options available to those who want to insure their vehicle for racing. Here are a few of the most popular ones:
1) Get Track Day Car Insurance
Track day car insurance is essential for anyone who wants to take their car to the track. This type of policy explicitly covers cars used for racing or other high-performance activities. Track day car insurance typically provides coverage for damage to the vehicle. With this, your street-licensed vehicle or a made-for-track vehicle acquires protection in case of an accident.
Most track day car insurance policies will provide coverage for third-party liability. If you cause damage to another vehicle or property while racing, your insurer will help cover the costs. Track day car insurance is typically more expensive than standard car insurance, but it provides peace of mind for those who want to race their car.
To ensure you’re getting the best rates, you must get numerous quotes and compare them. Make sure to read the fine print to understand what is and isn’t covered. This will come in handy if you ever need to make a claim.
2) Purchase a Specialized Racing Insurance Policy
If you want to be extra safe, you can purchase a specialized racing insurance policy. This type of policy is designed specifically for those who race their car. It provides coverage for damage to the vehicle as well as third-party liability. Specialized racing insurance policies are typically more expensive than standard car insurance or track day car insurance.
Some companies specialize in this type of car insurance. This includes K&K Insurance Group, Chizmark Larson, and Hagerty. You can get a quote from each company and compare the rates. Be sure to read the policy carefully to understand what is and isn’t covered.
Some specialized racing insurance policies will only cover damage sustained during certain events. For example, a company may only offer coverage for autocross, drag racing, drift events, karting, rallycross, and track days. So make sure the policy you purchase covers the type of racing you plan on doing.
What Does Standard Car Insurance Cover?
Standard car insurance covers a variety of things. Most importantly, it provides liability coverage if you are at fault for an accident and someone is injured. It also covers damage to your car caused by accidents, theft, or vandalism. In addition, standard car insurance typically provides some coverage for medical expenses incurred due to an accident.
Finally, standard car insurance often includes roadside assistance if your car breaks down or you need help changing a flat tire. While the exact coverage of standard car insurance varies by state, most policies provide a good level of protection against financial losses due to an accident.
The Bottom Line
If you’re planning on taking your car to the racetrack, it’s vital to make sure you have the right insurance in place. A few options are available, such as track day car insurance or specialized racing insurance. Standard car insurance typically doesn’t cover damage sustained at the racetrack. So if you plan on doing any racing, be sure to get the appropriate insurance policy in place. Otherwise, you could be left footing the bill for any damage.