Call Us 800-741-4911 ☰ ˟
Logo Joy L. Hemme Memorial
Joy L. Hemme Memorial Call Us 800-741-4911
  • Our Agency
    • AboutImage of right arrow
      • Our Staff
      • Locations
    • Our Providers
    • Resources
    • Contact UsImage of right arrow
      • Main Office
      • Austin Office
      • Boise Office
      • Boston Office
    • Make A Payment
  • Products
    • Sports and Events Insurance
    • Transportation and Trucking Insurance
    • WORK COMP Elite
    • Motorsports Insurance Image of right arrow
      • Motorsports Race Teams Insurance
      • Motorsports Races and Events Insurance
      • Motorsports Tracks & Facilities Insurance
    • Coverage for Specific IndustriesImage of right arrow
      • Mud Run and Special Events Insurance
      • Accounting Firm Insurance
      • Alarm Contractors Insurance
      • Insurance for Arborists
      • Bar Insurance
      • Box Truck Insurance
      • Builders Risk Insurance
      • Car Dealership Insurance
      • Cargo Insurance and Freight Insurance
      • Catering Insurance
      • Cleaning Business Insurance
      • Construction Insurance
      • Consulting Firm Insurance
      • Contractors Insurance
      • Specialty Trade Contractors Insurance
      • Craft Brewery Insurance
      • Dental Practice Insurance
      • Dump Truck Insurance
      • Educational Facility Insurance
      • Financial Institution Insurance
      • Food Truck Insurance
      • Fleet Insurance
      • Handyman Insurance
      • Garage Insurance
      • Healthcare Facility Insurance
      • Healthcare Practice Insurance
      • Law Firm Insurance
      • Life Science Insurance
      • Limousine Services Insurance
      • Liquor Liability Insurance
      • Livestock Insurance
      • Maintenance Contractors Insurance
      • Manufacturing Insurance
      • Marijuana Insurance
      • Maritime Employers Insurance
      • Media & Advertising Insurance
      • Medical Malpractice Insurance
      • Minibus Insurance
      • Non Profit Insurance
      • Nursing Home Insurance
      • Nursing Insurance
      • Orthotics & Prosthetics Insurance
      • Personal Trainer Insurance
      • Pharmacist Insurance
      • Pool & Spa Insurance
      • Printers & Publishers Insurance
      • Railroad Contractors Insurance
      • Real Estate Businesses Insurance
      • Restaurant Insurance
      • Retail Insurance
      • School Bus Contractors Insurance
      • Scrap Metal Insurance
      • Security Guards Insurance
      • Self-Storage Insurance
      • Septic Contractors Insurance
      • Specialized Truck Equipment Insurance
      • Technology Services Insurance
      • Tractor Insurance
      • Tow Trucks Insurance
      • Uber Insurance
      • Water Well Drillers Insurance
      • Veterinary Insurance
    • Coverage for Your BusinessImage of right arrow
      • Bonds
      • Business Catastrophe Insurance
      • Business Owners Policy (BOP)
      • Commercial Auto Insurance
      • Commercial General Liability
      • Commercial Property Insurance
      • Commercial Real Estate Insurance
      • Commercial Umbrella Insurance
      • Crime Insurance
      • Equipment Insurance
      • Errors and Omissions Insurance
      • Extortion Insurance
      • Fidelity Bonds
      • Leave Management
      • Loss Control Insurance
      • Inland Marine Insurance
      • Kidnapping Insurance
      • Marine Insurance
      • Mechanical Breakdown Insurance
      • Office Insurance
      • Product Liability Insurance
      • Professional Liability
      • Ransom Insurance
      • Shipping Insurance
      • Small Business Insurance
      • Small Business Liability Insurance
      • Storage Insurance
      • Surety Bonds
      • Technology Insurance
      • Trailer Insurance
      • Transportation Insurance
      • Trucking Insurance and Semi Truck Insurance
      • Workers Compensation
      • Van Insurance
    • Coverage for Your EmployeesImage of right arrow
      • Group Benefits
      • Group Disability Insurance
      • Voluntary Benefits
      • Retiree Health Coverage
      • Group Health Insurance
      • Disability Insurance
      • Individual Life Insurance
    • Farm InsuranceImage of right arrow
      • Crop Insurance
      • Farm Owners Insurance
      • Farm Livestock Insurance
      • Equine Insurance
      • Farm Equipment Insurance
      • Farm Dwelling Insurance
      • Farm Structures Insurance
      • Farm Auto Insurance
      • Farm Umbrella Insurance
      • Farm Liability Insurance
    • Home & Auto InsuranceImage of right arrow
      • Auto and Homeowners Insurance
    • Auto InsuranceImage of right arrow
      • Liability Coverage
      • Comprehensive Coverage
      • Collision Coverage
      • Uninsured & Underinsured Motorist Coverage
      • Minor Violation Forgiveness
      • Specialty Auto Insurance
      • 24-Hour Customer Service
      • Towing
      • Rental Reimbursement
      • Personal Injury Protection (PIP)
      • Medical Payments Coverage
    • Home InsuranceImage of right arrow
      • Property Insurance
      • Homeowners Liability
      • Renters Insurance
      • Condo Insurance
      • Mobile Home Insurance
      • Scheduled Property Insurance
      • Landlords Insurance
      • In-Home Business Insurance
    • Other Personal InsuranceImage of right arrow
      • Identity Theft
      • Personal Umbrella Insurance
      • Data Backup
    • Life InsuranceImage of right arrow
      • Individual Life Insurance
      • Group Life Insurance
      • Long-Term Care Insurance
      • Mortgage Protection Insurance
      • Disability Insurance
      • Second-To-Die Policy
      • Key Person (Key Men) Insurance
    • Health InsuranceImage of right arrow
      • Individual & Family Health Insurance
      • Group Health Insurance
      • Dental Coverage
      • Vision Coverage
      • Supplemental Insurance
      • Disability Insurance
      • Medical Expense Insurance
      • Child Health Insurance
      • Prescription Insurance
      • HSAs
    • Recreational Vehicle InsuranceImage of right arrow
      • Boat Insurance
      • Motorcycle Insurance
      • Motorhome Insurance
      • ATV Insurance
    • Additional Insurance ServicesImage of right arrow
      • Special Event Insurance
      • Other Services
      • Wedding Insurance and Special Event Insurance
  • Contact Us
    • Main Office
    • Austin Office
    • Boise Office
    • Boston Office
    • Contact Us
Workers Compensation Icon

Workers' Comp

Crush your Work Comp costs with Work Comp Elite. A proven program to lower your cost.

Learn More
Transportation Icon

Transportation

Specific programs designed just for you

Learn More
Motorsports Icon

Motorsports

All types of Motorsports, “If it has a Throttle, we can write it”

Learn More
Bonds Icon

Bonds

We browse through a wide variety of coverages and find the right one for you.

Learn More
Sports & Events Icon

Sports & Events

Go for it, We got this.

Learn More
Home > Blog > Insurance for Race Teams
THURSDAY, AUGUST 18, 2022

Insurance for Race Teams

Motorsport race teams are involved in a highly competitive environment with many risks. Not only do they have to consider hazards they encounter on the track, they also face exposures while running the business side of their operations. A comprehensive insurance package can help cover hazards that may arise through these activities. 

If you have questions about building your race team’s insurance portfolio, the knowledgeable professionals at K2 Insurance Brokers can help. Contact us today for more information. a blue car parked in a parking lot

Why Do Race Teams Need Insurance? 

Race teams function in a high-intensity, fast-paced environment on and off the track. Whether it’s a race, time trial, promotional event or other business activity (e.g., selling merchandise), organizations must be adequately covered to address the inherent risks. The right insurance portfolio can help accomplish that. 

What Types of Insurance Do Race Teams Need?  

Each race team has unique needs. Several types of insurance are available, such as the following: 

  • Liability insurance—This may provide coverage if a race team is responsible for a third party’s injuries or property damage. It may compensate the third party for their losses (e.g., pay for medical bills), and it may help pay the race team’s legal expenses (e.g., court costs, settlements, judgments) if they are sued. There are several types of liability, and each covers different exposures. Examples include: 

  • General liability insurance 

  • Products liability insurance 

  • Completed operations liability insurance  

  • Garage keepers liability insurance 

  • Garage liability insurance 

  • Employment practices liability insurance (EPLI) 

  • Participant legal liability insurance 

  • Pollution liability insurance 

  • Directors and officers liability (D&O) insurance 

  • Professional liability insurance 

  • Umbrella insurance—This may provide an added layer of coverage if a significant liability claim exceeds the limits of your other liability policies. 

  • Property insurance—This may provide repair or replacement costs if a race team’s property is lost, damaged or destroyed by a covered event (e.g., fire or severe weather). Financial protections for trailers, specialty tools and equipment may also be available. 

  • Auto insurance and on-track coverage—This may cover team-owned automobiles if damaged by covered events or in accidents. On-track coverage may also cover damage that occurs while a race or practice is in progress.  

  • Commercial crime insurance—This may cover losses from acts of dishonesty (e.g., theft and embezzlement) by employees or other third parties. 

  • Cyber insurance—This may cover expenses that arise from data breaches or cyberattacks. 

  • Inland marine insurance—This may provide coverage while your equipment and tools are being stored off-site or transported over land. 

  • Workers’ compensation—This may provide payments for wage replacement or medical expenses if a race team employee suffers a work-related injury or illness. 


Each team’s risk profile varies and other coverages (e.g., event cancellation insurance, accident insurance) may be available. Speak with your agent to discuss options, limits and exclusions. 

Contact Us 

The experienced agents at K2 Insurance Brokers can help race teams secure the optimal insurance. Contact us today for more information. 

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information. 
Posted 11:58 AM

Tags: race, team, insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021
  • 2020

  • insurance(13)
  • coverage(8)
  • liability(6)
  • commercial(5)
  • transportation(3)
  • trucking(2)
  • event(2)
  • risk(2)
  • cyber(2)
  • builders(2)
  • policy(2)
  • contract(1)
  • truck(1)
  • workers compensation(1)
  • bonds(1)
  • special(1)
  • fidelity(1)
  • companies(1)
  • general liability insurance(1)
  • vehicles(1)
  • bop insurance(1)
  • team(1)
  • property damage liability(1)
  • clinic(1)
  • sports(1)
  • business(1)
  • commercial auto(1)
  • events(1)
  • surety(1)
  • cyber liability insurance(1)
  • professional(1)
  • weddings(1)
  • farm insurance(1)
  • employee(1)
  • bop insurance business owner policy(1)
  • wedding(1)
  • workers comp(1)
  • special event insurance(1)
  • race(1)
  • errors and omissions(1)
  • motorcycle(1)
  • builders risk(1)
  • auto(1)

View Mobile Version

Contact Us Today!
800-741-4911

Social Social Social Social

Resources

  • Products
  • Customer Service
  • Payment Options
  • Report a Claim
  • News
  • About Us
  • Refer A Friend
  • Our Carriers
  • Blog
  • Contact Us

Contact Us

40960 California Oaks Rd, Ste 132
Murrieta, CA 92562

P: 800-741-4911 | Fx: 951-398-5170
© Copyright. All rights reserved. | Powered by Insurance Website Builder