Race Car Driver Insurance: Quotes From $40/mo

Table of contents
1. General Liability Insurance for Racing Drivers1.1. Add-Ons to General Liability Insurance for Racing Drivers2. Errors and Omissions Insurance for Racing Drivers3. Commercial Property Insurance for Racing Drivers3.1. Add-Ons to Commercial Property Insurance for Racing Drivers3.2. Can I Add Coverage for Racing Events to My Commercial Property Insurance?4. Business Owner’s Policy for Racing Drivers4.1. Add-Ons to Business Owner’s Policy for Racing Drivers 5. Commercial Auto Insurance for Racing Drivers5.1. Add-Ons to Commercial Auto Insurance for Racing Drivers6. Workers Compensation Insurance for Racing Drivers6.1. Add-Ons to Workers Compensation Insurance for Racing Drivers7. Travel Insurance for Racing Drivers7.1. Add-Ons to Travel Insurance for Racing Drivers7.2. Does Travel Insurance Offer Coverage for Pre-existing Medical Conditions for Racing Drivers?8. Do I Need Racing Driver Insurance if I’m Not a Professional Racer?9. Are There Any Specific Safety Requirements or Certifications I Need to Meet to Qualify for Race Car Drivers Insurance Coverage?10. Race Driver Insurance Cost11. Best Racing Driver Insurance Companies11.1. NEXT Racing Driver Insurance   11.1.1. Pros11.1.2. Cons11.2. CoverWallet Racing Driver Insurance 11.2.1. Pros11.2.2. Cons11.3. The Hartford Racing Driver Insurance 11.3.1. Pros11.3.2. Cons11.4. Tivly Racing Driver Insurance 11.4.1. Pros11.4.2. Cons11.5. Thimble Racing Driver Insurance 11.5.1. Pros11.5.2. Cons11.6. Hiscox Racing Driver Insurance 11.6.1. Pros11.6.2. Cons

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 HiscoxThe 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
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
Waiver of subrogation included?YesNoIncludedCan be includedNo
Hired/non-owned auto liability coverage included?YesNoExcludedCan be includedCan be included
Equipment breakdown floater included?No YesYesCan be includedCan 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 HiscoxThe 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?YesYesYesYesYes
Waiver of subrogation included?YesNoYesYesNo

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

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Commercial Property Insurance for Racing Drivers

CoverWalletNEXT (Best)ThimbleThe HartfordHiscox
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 signsExcluded$2,500ExcludedExcludedIncluded
Accounts receivable ExcludedExcluded$5,000/$10,000ExcludedIncluded
Money and securitiesExcluded$2,500$1,000ExcludedIncluded
Lock and keys Excluded$2,500ExcludedExcludedIncluded
Business interruption floaterExcludedIncludedIncludedExcludedIncluded
Equipment breakdown floaterExcludedIncludedExcludedExcludedIncluded
Inland marine insurance floaterExcludedExcluded$10,000ExcludedExcluded
Employee dishonesty floaterExcluded$5,000$2,500ExcludedExcluded

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.