Go Kart Track Insurance: Cost & Quotes From $35/mo

 

 Go-karting is an adventurous event. It offers a thrilling experience as your customers race around the track at very high speed and compete to achieve the best lap times.

 But a go-kart can overturn or collide with another go-kart.Thats why it is vital to have go kart business insurance .

Although these tracks have safety equipment, you must insure your go-kart venue. Accidents are inevitable; a go kart track insurance will cushion your business from arising financial losses.

General Liability Insurance for Go-Kart Tracks

General liability insurance is integral for go kart track businesses. This insurance will protect your business from lawsuits and claims after an accident. It covers accidents such as flips and collisions of the go-tracks. The insurance will cover the following incidents:

  • Bodily injury–A customer is injured while operating a go-kart. The insurance covers medical, legal, and other related costs
  • Property injury–The go-karts can also cause property damage. The insurance will cover replacement and repair expenses
  • Product liability–The go-kart or any other equipment can malfunction and cause injuries to your clients. The insurance covers legal and defense costs

General liability insurance coverage limits for go-kart tracks are $1 million to $2 million. But note that you can opt to get more. 

CoverWallet  NEXT (Best) Thimble Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $2,000,000 $1,000,000/$2,000,000
Aggregate limit  $2,000,000 $2,000,000 $1,000,000/$2,000,000 $2,000,000 $1,000,000/$2,000,000
Products and completed operations aggregate limit  $2,000,000 $1,000,000 $2,000,000 $1,000,000 $1,000,000
Advertising injury coverage aggregate limit  $1,000,000 $1,000,000 $2,000,000 $1,000,000 $1,000,000
Tenant’s legal liability coverage limit  $300,000/$1,000,000 $300,000 $100,000 $100,000 $1,000,000
Waiver of subrogation included? Yes No Included Can be included No
Hired/non-owned auto liability coverage included? Yes No No Can be included Can be included
Equipment breakdown floater included? No  Yes Yes Can be included Can be included
Can you get a certificate of insurance online? Yes Yes Yes Yes Yes
Name additional insureds? Yes Yes Yes Yes Yes
Deductible $0 $0 $0 $0 $0

 

Commercial Property Insurance for Go-Kart Tracks

This kart racing insurance covers your property, such as buildings, inventory, equipment, and other physical assets. This insurance covers multiple perils such as:

  • Fire
  • Water damage
  • Weather-related damages
  • Theft
  • Vandalism
  • Natural disasters

The coverage limit for commercial property insurance is $100,000 and above. But this amount depends on your property’s value and policy terms.

CoverWallet NEXT (Best) Thimble Hiscox The Hartford
Building coverage limit (minimum) $50,000 $260,000 $25,000/$500,000 $25,000 $60,000
Contents coverage limit (minimum) $50,000 $22,000 $25,000/$500,000 $25,000 $60,000
Outdoor signs Excluded $2,500 Excluded Excluded Excluded
Accounts receivable  Excluded Excluded $5,000/10,000 Included Excluded
Money and securities Excluded $2,500 $1,000 Included Excluded
Lock and keys  Excluded $2,500 Excluded Excluded Excluded
Business interruption floater Excluded Included Included Included Excluded
Equipment breakdown floater Excluded Included Excluded Excluded Excluded
Inland marine insurance floater Excluded Excluded $10,000 Excluded Excluded
Employee dishonesty floater Excluded $5,000 $2,500 Included Excluded

Business Owner’s Policy for Go-Kart Tracks

A business owner’s policy (BOP) offers comprehensive insurance coverage for your go-kart track business. This policy merges different policies into one policy. It typically includes:

  • General liability insurance
  • Commercial property insurance

Combining these two policies is a cost-effective strategy. It also helps to manage your policy conveniently. Additionally, you can tailor the BOP to meet your business needs.

The coverage of BOP is $500,000 to $2 million for each occurrence. The actual coverage limits depend on your business’s needs and your policy’s terms.

CoverWallet Thimble (Best) NEXT  Hiscox The Hartford
General liability aggregate limit  $2,000,000 $2,000,000 $2,000,000 $300,000 $1,000,000/$2,000,000
Commercial property coverage limit  $50,000 $500,000 $260,000 $25,000 $75,000
Optional policies can be added? Yes Yes Yes Yes Yes
Name additional insureds for free? Yes Yes Yes Yes Yes
BOP discount? Yes Yes Yes Yes Yes

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Tools and Equipment Insurance for Go Kart Tracks

Your go-kart track business relies on expensive equipment and tools to operate. You need to insure these items are from common perils such as theft, fire, and vandalism. The tools and equipment insurance will provide coverage if your items are damaged or lost due to a covered event.

NEXT  Thimble Hiscox The Hartford
Aggregate limit $3,000/$10,000 $2,500/$5,000 $15,000/$25,000 $5,000-$10,000
Covers hired and borrowed equipment? $3,000/$10,000 $2,500/$5,000 No Yes
Miscellaneous equipment also covered? $5,000/$10,000 No Yes Yes
Offered as an endorsement to general liability insurance? Yes Yes Yes Yes
Deductible $500 $500 $0 $0

The coverage limit for this type of go kart track insurance is $10,000 to $250,000. But the insurer will have to estimate the value of your items to get the best coverage limit.

Commercial Auto Insurance for Go Kart Tracks

This type of go kart business insurance covers your business-owned vehicles. It will cover all the commercial vehicles you use to operate your go kart track. Some of the perils covered include:

  • Accidents and collisions
  • Theft or vandalism of the vehicle
  •  Fire or explosions
  • Bodily injury
  • Property damage
  • Injuries sustained by employees while using the vehicle
  • Damage to other vehicles or property caused by the insured vehicle

Components of Commercial Auto Insurance for Go Kart Tracks

  • Liability coverage–This protects you if you or one of your employees causes an accident while driving a business-owned vehicle
  • Collision coverage–Covers your business vehicles in case of collision with other vehicles or objects
  • Medical payments coverage–Pays for the medical expenses of the passengers after an accident involving your business vehicles
  • Roadside assistance coverage–Helps with the cost of roadside assistance services if your business-owned vehicle breaks down
  • Rental reimbursement coverage–Will cover the costs of rental vehicles if your business vehicles are in the shop for repairs following an accident

The coverage limit for commercial auto insurance is $500,000 to $1 million for each occurrence. But your business can receive higher limits depending on the number and value of your vehicles.

Workers’ Compensation Insurance for Go-Kart Tracks

A go kart track business attracts a measurable amount of risks. Your employees are not immune from these risks. They can get injured or fall ill while working. Worker’s compensation insurance covers hospital bills. It also offers rehabilitation and death benefits.

The coverage limit of workers’ compensation insurance for go kart track depends on which state you’re operating. Check with the workers comp board of the state to know how much coverage your workers comp insurance can provide. 

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Go Karting Travel Insurance

Go karting travel insurance will cover you while you are traveling for racing, either for joining a competition or for leisure. It covers medical expenses, trip collection costs, and other related costs. Travel insurance is usually purchased as short-term coverage that grants protection until the trip has been over. 

 

Go Kart Track Insurance Cost

The average go kart track insurance cost is $92.24 per month or $1,106.88 per year for a $1 million general liability coverage. Factors that affect the cost of premiums are claims history, business history, deductibles, policy limits, and more. 

 

Cost per Month Cost per Year Deductible
General liability insurance $92.24 $1,106.88 $0-$500
Commercial property insurance $100 $1,200 $1,000-$2,000
Business owner’s policy $192 $2,304 $1,500
Tools and equipment insurance $96 $1,152 $500-$1,000
Commercial auto insurance $99 $1,188 $500-$1,000
Workers compensation insurance $118 $1,416 $2,500-$5,000
Travel insurance $94 $1,128 $0-$500

 

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Best Go-Kart Track Insurance Companies

NEXT 

NEXT is an outstanding insurance provider for small businesses. They offer their policies online, allowing you to quickly acquire a policy and file claims. This company does not specialize in specific industries, but all types of businesses can get single or bundled policies.

Average cost: $78.33 per month

Our rating: 10/10

Pros

  • Best overall
  • Issues an online proof of insurance instantly
  • Fastest general liability insurance for go kart tracks
  • Great customer service and reputation
  • Excellent rates
  • Outstanding value for money
  • Get a 10% discount if you buy two or more policies 

Cons

  • Couldn’t find any

CoverWallet

CoverWallet works with multiple providers to offer you the best quotes. This company will assist you in getting the best quotes depending on your needs. They also have a website to manage your policies and claims easily.

Average cost: $81.17 per month

Our rating: 10/10

Pros

  • Instant quotes
  • Easy application process
  • Can compare quotes from different providers

Cons

  • Not an insurance company but an insurance broker

The Hartford 

The Hartford offers small and large businesses specialized insurance products. You can rely on them to offer your go-kart track business the best deals. They avail tools and resources that help you manage your insurance policies.

Average cost: $79.50 per month

Our rating: 10/10

Pros

  • Fast claims processing
  • Have local agents available
  • Ideal discounts for AARP members

Cons

  • Limited policies

6]

Tivly 

Tivly is a well-known insurance agency. It works with over 200 insurance providers to offer your business the best deals. You can conveniently select a provider that suits your budget and needs. Call now to compare quotes over the phone. 

Average cost: $91.67 per month

Our rating: 9/10

Pros

  • Compare quotes over the phone
  • Affordable prices
  • Works with many providers

Cons

  • No mobile app

Thimble 

Thimble is an insurance provider that offers on-demand policies. You can acquire insurance coverage for a temporary or one-time project. They offer coverage even for hours, days, or months.

Average cost: $110.17 per month

Our rating: 9/10

Pros

  • On-demand policies
  • Numerous add-ons to general liability insurance
  • You can purchase general liability insurance as a short-term coverage

Cons

  • Customer support is only available online

Hiscox

Hiscox is another reputable insurance provider. It sells crucial insurance products to businesses. You can easily purchase their policies online and make claims on their website.

Average cost: $112.57 per month 

Our rating: 9/10 

Pros

  • 14-day money-back guarantee
  • Easy-to-use online platform
  • Discounts available

Cons

  • Online quoting not available all the time due to periodic site maintenance

 

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