Race Car Driver Insurance: Quotes From $40/mo

Table of contents

Racing gets the heart pumping, especially when you’re the one behind the wheel.  Your passion for this might have been built when you were go-karting as a child or watching professional racing events. 

As a race car driver, it’s crucial to have insurance coverage tailored to your specific needs. Racing involves inherent risks, and accidents can happen on and off the race track

This article will explore various insurance policies available for racing drivers, their coverage limits, and add-ons. We will also discuss the cost of racing driver insurance and introduce some of the best insurance companies in the industry.

General Liability Insurance for Racing Drivers

CoverWallet  NEXT (Best) Thimble  Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $300,000/$1,000,000 $1,000,000/$2,000,000
Aggregate limit  $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000 $1,000,000/$2,000,000
Products and completed operations aggregate limit  $2,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
Advertising injury coverage aggregate limit  $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
Tenant’s legal liability coverage limit  $100,000 $100,000 $5,000 $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 Excluded Can be included Can be included
Equipment breakdown floater included? No  Yes Yes Can be included Can be included


General liability insurance covers bodily injury and property damage caused to others during racing events. It safeguards you against legal claims and lawsuits. Coverage limits typically range from $1 million to $2 million. This insurance can help in the following situations:

  • Accidentally damaging someone else’s property during a race

  • Spectator injuries caused by racing accidents

  • Being held responsible for bodily injury to another driver

  • Coverage for legal expenses in racing-related incidents

  • Accidents during practice sessions or training activities

Add-Ons to General Liability Insurance for Racing Drivers

  • Additional coverage for medical payments–Enhance your general liability insurance by adding coverage for medical expenses. This add-on ensures that individuals injured as a result of your racing activities receive necessary medical care without facing financial hardship

  • Hired/non-owned auto liability–Extend your general liability coverage by adding this add-on. It provides liability protection for vehicles you rent or borrow for racing-related purposes, giving you extra protection for property damage or bodily injury caused by these vehicles

Errors and Omissions Insurance for Racing Drivers

CoverWallet (Best) NEXT  Thimble  Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $1,000,000 $1,000,000
Aggregate limit  $2,000,000 $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $2,000,000
Name additional insureds? Yes Yes Yes Yes Yes
Waiver of subrogation included? Yes No Yes Yes No


Errors and omissions (E&O) insurance is essential if you provide professional services such as driver coaching, training, or consulting. This NASCAR driver insurance policy protects against claims arising from errors, negligence, or omissions in your professional activities. Coverage limits typically range from $250,000 to $5 million. E&O insurance can help in the following situations:

  • Allegations of inadequate driver training or instruction

  • Claims of negligence resulting in accidents or injuries

  • Legal expenses for defending against professional liability claims

  • Financial losses incurred by clients due to your advice or services

  • Accusations of misrepresentation or false advertising

Compare Cheap Race Car Driver Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Commercial Property Insurance for Racing Drivers

CoverWallet NEXT (Best) Thimble The Hartford Hiscox
Building coverage limit (minimum) $50,000 $340,000 $25,000/$500,000 $35,000 $25,000
Contents coverage limit (minimum) $50,000 $35,000 $25,000/$500,000 $35,000 $15,000
Outdoor signs Excluded $2,500 Excluded Excluded Included
Accounts receivable  Excluded Excluded $5,000/$10,000 Excluded Included
Money and securities Excluded $2,500 $1,000 Excluded Included
Lock and keys  Excluded $2,500 Excluded Excluded Included
Business interruption floater Excluded Included Included Excluded Included
Equipment breakdown floater Excluded Included Excluded Excluded Included
Inland marine insurance floater Excluded Excluded $10,000 Excluded Excluded
Employee dishonesty floater Excluded $5,000 $2,500 Excluded Excluded


Commercial property insurance covers the physical assets you own as a racing driver, such as race cars, trailers, tools, and equipment. This policy provides coverage against damages. 

Coverage limits vary based on the value of your assets, normally from $500,000 or $1,000,000. Commercial property insurance can help in the following situations:

  • Theft or damage to race cars or equipment during transportation

  • Fire or flood damage to your racing facility or storage area

  • Vandalism or malicious acts targeting your property

  • Business interruption due to property damage

  • Coverage for rented or leased racing facilities

Add-Ons to Commercial Property Insurance for Racing Drivers

  • Business interruption coverage–Ensure financial support in case of property damage that interrupts your racing operations. The add-on covers lost income, employee wages, and other ongoing expenses if you need to close to renovate or relocate

  • Equipment breakdown coverage–It covers repair or replacement costs in case of equipment breakdown, minimizing disruptions to your racing operations

Can I Add Coverage for Racing Events to My Commercial Property Insurance?

The insurance primarily covers your racing workshop and related assets. You may need additional policies such as event liability insurance or any other specialized coverage to cover racing events. 


Race car


Business Owner’s Policy for Racing Drivers

CoverWallet NEXT (Best) Thimble  The Hartford Hiscox
General liability aggregate limit  $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000
Commercial property coverage limit  $50,000 $320,000 $25,000/$500,000 $35,000 $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


A business owner’s policy (BOP) combines general liability and commercial property insurance, providing comprehensive coverage for racing drivers. 

Coverage limits vary depending on the insurance provider. However, BOPs are available with limits as low as $300,000/$600,000 and as high as $2 million/$4 million. A business owner’s policy can help in the following situations:

  • Bodily injury or property damage claims arising from racing activities

  • Coverage for race cars, equipment, and racing facilities

  • Business interruption coverage due to property damage

  • Legal expenses for liability claims

  • Protection against theft or damage to property

Add-Ons to Business Owner’s Policy for Racing Drivers 

  • Product liability coverage–Protects against claims arising from injuries or damages caused by products associated with your business. It provides financial protection in case of legal actions related to product defects or failure

  • Crime insurance–Takes care of financial losses in case employees commit theft, social engineering, and other dishonest acts against you


Commercial Auto Insurance for Racing Drivers

Commercial auto insurance is crucial if you use vehicles for racing-related purposes. This policy covers liability, collision, and comprehensive damages to your vehicles. 

Commercial auto liability coverage per vehicle is typically set at a coverage limit of $100,000. However, it is advised to have a minimum coverage of $500,000, which can go as high as $1 million. Commercial auto insurance can help in the following situations:

  • Accidents involving your race car or support vehicles

  • Damage to your vehicles due to collisions or vandalism

  • Damage due to collisions

  • Coverage for rented or leased vehicles used for racing purposes

  • Medical payments for injuries sustained in racing-related accidents

Add-Ons to Commercial Auto Insurance for Racing Drivers

  • Personal property coverage–Protects your personal belongings stored or transported in your commercial vehicles. It covers items such as racing gear, tools, and personal effects

Workers Compensation Insurance for Racing Drivers

Workers compensation insurance is crucial for racing drivers who employ staff members or have employees involved in their racing operations. This policy covers medical expenses, lost wages, and rehabilitation for injured employees. Coverage limits and requirements vary by state. Workers compensation insurance can help in the following situations:

  • Injuries sustained by employees during racing events or practice sessions

  • Medical expenses for work-related injuries or illnesses

  • Wage replacement for employees unable to work due to injuries

  • Rehabilitation and vocational training for injured employees

Add-Ons to Workers Compensation Insurance for Racing Drivers

  • Disability income coverage–The add-on provides financial support in case of a racing-related injury that leaves you temporarily or permanently unable to work

  • Occupational accident coverage–Consider adding occupational accident coverage, which offers additional benefits and coverage for medical expenses, disability, accidental death, and dismemberment resulting from racing-related accidents

Travel Insurance for Racing Drivers

Travel insurance offers specific coverage tailored to the unique risks and circumstances you may encounter while traveling for your sport. This can help in the following situations:

  • Medical emergencies or injuries sustained during travel

  • Trip cancellation or interruption due to unforeseen circumstances

  • Lost or delayed baggage containing racing gear or equipment

  • Coverage for emergency medical evacuation

  • Assistance services for travel-related issues

Add-Ons to Travel Insurance for Racing Drivers

  • Trip cancellation coverage–This provides reimbursement for non-refundable travel expenses if your trip is canceled or interrupted due to covered reasons, such as illness, injury, or unforeseen circumstances

  • Medical evacuation coverage–This add-on covers the costs associated with emergency medical transportation to the nearest appropriate medical facility in case of a racing-related injury or illness

Does Travel Insurance Offer Coverage for Pre-existing Medical Conditions for Racing Drivers?

Coverage for pre-existing medical conditions may vary among travel insurance policies for racing drivers. Some policies may provide limited coverage or exclude pre-existing conditions altogether. It’s important to disclose any pre-existing conditions and review the policy terms to understand the extent of coverage.


Do I Need Racing Driver Insurance if I’m Not a Professional Racer?

Even if you’re not a professional motorsport driver, it is still advisable to have racing driver insurance if you participate in racing activities. Accidents can happen whether you race as a hobbyist or a professional. Having insurance can provide important financial protection.


Are There Any Specific Safety Requirements or Certifications I Need to Meet to Qualify for Race Car Drivers Insurance Coverage?

Race car driver insurance may have specific safety requirements or certifications that drivers must meet to qualify for coverage. These requirements can vary depending on the insurance provider and the type of racing involved. Some common safety requirements and certifications may include:

  • A valid racing license issued by a recognized motorsport governing body

  • Completion of safety training courses or programs

  • Compliance with track-specific safety regulations and protocols

  • Maintenance of a clean driving record on and off the race track

  • Adherence to race car specifications and modifications within approved limits

  • Compliance with any additional safety guidelines or recommendations provided by the insurance provider

Rank and Review Insurance Companies

Help others make better decisions

Show more

Race Driver Insurance Cost

Cost per Month Cost per Year Deductible
General liability insurance $54 $648 $0-$500
Professional liability insurance $56 $672 $500-$1,000
Excess liability insurance $65 $780 $500-$1,000
Commercial property insurance $67 $804 $1,000-$2,000
Business owner’s policy $106 $1,272 $1,500
Commercial auto insurance $97 $1,164 $500-$1,000
Tools and equipment insurance $64 $768 $500-$1,000
Workers compensation insurance $112 $1,344 $2,000-$5,000


The average race driver insurance cost is $54 per month or $648 per year for a $1 million general liability insurance. Factors that affect premiums are:

  • Racing experience–Insurance companies consider your racing experience and track record when determining the cost of insurance. More experienced drivers with a clean racing history may be eligible for lower premiums

  • Type of racing–The type of racing you participate in can impact the cost of insurance (e.g. NASCAR, MotoGP, MotorCross, or Rally)

  • Coverage options–The extent of coverage you choose for your race car driver insurance will also influence the cost. Different coverage options such as general liability, commercial property, tools and equipment, and commercial auto insurance will have varying costs associated with them

  • Value of assets–The value of your racing assets, including race cars, equipment, and tools, can affect the insurance premium. Higher-valued assets may require higher coverage limits, contributing to increased insurance costs

  • Location–The location where you primarily race can impact the insurance cost. Factors such as track conditions, safety regulations, and local laws may influence the level of risk and consequently affect the insurance premium

Obtaining personalized quotes from insurance providers is recommended to get an accurate cost estimate. The table below shows the cost of a $1 million general liability policy from the best racing driver insurance companies:

Cost per Month Cost per Year Best for
NEXT $25 $300 Best overall; Fastest general liability insurance for race car drivers
CoverWallet $30 $360 Comparing race driver insurance quotes online
The Hartford $34 $408 Race car drivers seeking reliable coverage and excellent customer service from a well-established insurance provider
Tivly $38 $456 Comparing sonographer insurance quotes over the phone
Thimble $40 $480 Short-term general liability insurance for racing drivers
Hiscox $42 $504 Racing drivers seeking comprehensive insurance coverage from a trusted and experienced provider

Compare Cheap Race Car Driver Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Racing Driver Insurance Companies

Here are some of the best racing driver insurance companies. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability insurance.

 

NEXT Racing Driver Insurance  

Pros

  • Excellent rates

  • Responsive customer service

  • Fastest general liability insurance

  • Competitive rates and customizable policies

  • Comprehensive coverage for drivers, vehicles, and racing equipment

  • Get a 10% discount if you bundle two or more policies

Cons

  • Couldn’t find any

NEXT offers comprehensive race car driver insurance policies. With their expertise in the racing industry, they understand the unique risks associated with racing and provide insurance solutions to protect drivers, their vehicles, and racing equipment. NEXT offers customizable policies to suit your needs.

Best for: Best overall; Fastest general liability insurance for race car drivers

Average cost: $25 per month

Our rating: 10/10


CoverWallet Racing Driver Insurance

Pros

  • Wide range of coverage options, including liability insurance, commercial property insurance, and commercial auto insurance

  • User-friendly platform for comparing quotes and customizing policies

  • Dedicated support team to assist with insurance inquiries and claims

Cons

  • Not an insurance company but an insurance broker

CoverWallet is another reputable insurance company that offers specialized insurance options for race car drivers. They provide a range of coverage options, including liability insurance, commercial property insurance, and commercial auto insurance. CoverWallet’s user-friendly platform makes comparing quotes and customizing policies to fit specific requirements easy.

Best for: Comparing race driver insurance quotes online

Average cost: $30 per month

Our rating: 10/10


The Hartford Racing Driver Insurance

Pros

  • Strong reputation and presence in the insurance market

  • Comprehensive coverage options tailored to race car drivers’ needs

  • Excellent customer service and support

  • Competitive rates

Cons

  • Limited add-ons to general liability insurance

The Hartford has a strong presence in the insurance market, and their race car driver insurance policies are designed to provide comprehensive coverage and protection. They offer liability insurance, commercial property insurance, and other essential coverages tailored to the unique needs of race car drivers. The Hartford is known for its excellent customer service and competitive rates.

Best for: Race car drivers seeking reliable coverage and excellent customer service from a well-established insurance provider

Average cost: $34 per month

Our rating: 10/10


Tivly Racing Driver Insurance

Pros

  • Specialization in insurance solutions for motorsports enthusiasts, including racing drivers.

  • Comprehensive coverage for accidents, property damage, and bodily injury.

  • Flexibility to customize policies to meet individual needs.

  • Knowledge of the unique risks associated with racing.

Cons

  • Not much information on the company financial status

Tivly specializes in insurance solutions for motorsports enthusiasts, including racing drivers. They offer race car driver insurance policies that cover a wide range of risks, such as accidents, property damage, and bodily injury. Tivly’s policies are flexible and can be customized to meet the specific needs of individual drivers and their racing teams.

Best for: Comparing race driver insurance quotes over the phone

Average cost: $38 per month

Our rating: 8/10


Thimble Racing Driver Insurance

Pros

  • On-demand insurance coverage

  • Convenient mobile app for policy purchase and management

  • Flexible options to align coverage with individual racing schedules

  • Simplified and hassle-free insurance process

Cons

  • Limited coverage options compared to traditional annual policies

Thimble is a popular choice for race car drivers looking for flexible insurance options. They provide on-demand insurance coverage, allowing drivers to obtain coverage for specific racing events or periods. Thimble’s policies can be purchased conveniently through their mobile app, offering hassle-free insurance solutions for race car drivers.

Best for: Short-term general liability insurance for racing drivers

Average cost: $40 per month

Our rating: 9/10


Hiscox Racing Driver Insurance

Pros

  • Strong financial stability and reputation as a reliable insurance company

  • Dedicated support and customer service team knowledgeable in race car driver insurance

  • Wide coverage options, including liability, property damage, and other racing-related risks

Cons

  • The specific policy terms and conditions may have certain exclusions or limitations that could affect coverage in certain situations

Hiscox is a reputable insurance company that offers specialized insurance coverage for race car drivers. They provide comprehensive policies that cover liability, property damage, and other risks associated with racing. Hiscox understands the unique needs of race car drivers and offers tailored insurance solutions to ensure drivers are adequately protected.

Best for: Racing drivers seeking comprehensive insurance coverage from a trusted and experienced provider

Average cost: $42 per month

Our rating: 9/10

Recent Reviews

Recent Posts


Additional Business Insurance posts