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Right To Race, Right to Insurance




Motorsport racing is an exciting yet dangerous sport. Therefore, motorsports racers need to obtain insurance to protect themselves from the risks of damage to the vehicle and injuries while racing. Use this guide to learn more about how you can race with confidence by getting protected with the right insurance to keep pursuing your passion for the sport.


Risks Involved with Motorsport Racing


There are many possible sources of risks for anyone involved in motorsports racing. This industry is one of the most expensive ones to insure because of the risks involved every time racers go out into the track to compete.


Motorsport drivers are the ones who are exposed to the highest level of risk. These risks include physical and mental risks, such as an injury during the race, dehydration, and racing accidents that can lead to damage to the vehicle or injury to the driver (or worst-case scenario, the driver's fatality).


Accidents and collisions are also inevitable in motorsport racing, given the high level of competition and the speed at these cars are racing. Damage can be on the vehicle or any part of the track, costing thousands (if not millions) to repair.


There is also insurance coverage designed to cover any damage or physical injury caused to the staff and spectators. Meanwhile, fire and explosions are possible with these race car tanks filled with fuel.


Types of Insurance Coverage


Below is a list of coverage types available for motorsport and racing insurance. Your insurance broker might recommend one or a combination of these coverage types based on assessed risks.


  • Public Liability and Professional Indemnity – This type of coverage protects the insured against legal costs associated with third-party negligence.

  • Personal Accident Cover – This type of coverage provides financial assistance to the insured in the event of physical injury resulting from motorsports activity (or any other approved activity).

  • Race Vehicle and Trailer Insurance – This type of coverage protects the vehicle from any damage in the pits, in the garage, or during transport in the trailer.

  • Track Day Insurance – This type of coverage protects the insured and the covered vehicles on track day use. This type of policy is designed for amateur drivers, not professionals. It offers protection during racing, testing, or practice.


How to Choose Your Insurance Broker


An insurance broker plays a critical role for rally and motorsport racers in finding the right coverage. As demonstrated above, there are different levels when it comes to your insurance coverage and the corresponding costs. Speak to the friendly insurance brokers at Midland Insurance for a customized approach.


The first step is to make sure that your insurance broker is an Australian Financial Services License (AFSL) holder. This license guarantees that your broker upholds a superior standard of service to provide you with additional consumer protection. If your broker does not have the AFSL license, make sure to check their track record. It is also important to assess their knowledge of the motorsport racing industry. Their knowledge is critical to be able to match your needs with the right coverage based on the assessed level of risk.


An insurance broker can tailor the insurance policies available to what they believe will get you covered most, especially in the event of injury or damage. The higher the risk, the higher the sum of the insurance. Each policy can be customized to fit your unique set of risks in the sport so there should not have to pay the fixed policy premiums.


Right To Race, Right to Insurance

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