Racing has always been a popular sporting event in the United States. When driving at such high speeds, there are many things that can happen that could cause an accident. Because car racing is such a high risk sport and race cars are very expensive, drivers understand the risks involved with the sport. For those race car drivers who race for the love of the sport, they understand that very few drivers achieve such financial success that they can afford to purchase a new car if they totaled their race car or had it stolen. To help prevent a serious financial loss that could affect your ability to race again, you should consider purchasing race car insurance.

When you are looking to buy race car insurance, it is best to acquire insurance from a company that specializes in this type of insurance as they have the expertise in dealing with insuring cars for such a high risk sport. Examples of specialty insurers include: Hot Rod Insurance, Allied Specialty Insurance, and Heacock Classic Insurance. These specialty car insurance providers will require such information as your driving history and your health history, history of car maintenance, and a criminal record check. The company will also want to know how protected your car is from theft and vandalism so you will have to give a list of anti-theft devices and provide documentation that details how secure your car is when it is stored. As well, your insurance premiums will be based on security, distance from race events, how high of a deductible you get, whether you have an open or closed trailer for transporting the car to racing events, and how many events your car will be in each year.

It is important to know that race car insurance does not cover you during the actual racing event. If you want insurance that covers you during a race, you have to request “Key-On” insurance; however, it can cost as much as 10% of the total car’s value for each race event. As well, the vehicle used to transport the race car must be insured and the insurance providers will also factor in the type and condition of the vehicle used to transport the race car.  

When you insure your race car, it is important that you have a complete understanding of your insurance policy to ensure that if something unfortunate happens to the car such as if there was an accident on the way to a racing event, you will not incur a serious financial and personally devastating loss.