If you're looking to get into racing or have recently purchased a race car in hopes of one day circling the track in a NASCAR series, it's important to think about racecar insurance.
Insuring a race car isn't the same as insuring a typical every day driver. In fact, most insurance companies like All-State, State Farm or Progressive won't even take on such a high risk. Keep in mind, it's not required by law to buy auto insurance for your race car if you're only driving it on a track, but if you can't afford to repair your car every time something goes wrong, it's probably a good idea to look into getting an insurance quote.
Where to Start Looking for InsuranceFirst, research which companies actually do insure race cars. A few good companies to start with are Allied Specialty Insurance, Heacock Classic Insurance and Hot Rod Insurance. These companies insure classic cars, race cars and hot rods. However, the price range varies. Classic cars are generally less expensive to insure because the nature of the driving is less risky.
Keep in mind you are dealing with companies who know they are taking on high risk clients. The more documentation you provide them detailing the car's maintenance history, value and specifications, the lower your premiums will be.
Your driving history will be another factor in determining your insurance rates. Don't lie about your record because these companies will find out. Chances are, as a race car driver, you like to speed and have probably gotten a speeding ticket or two in your day. This doesn't mean you won't get insured, you just might be considered a higher risk.
Bumps and bruisesThe most important thing to realize about race car insurance policies is that they most often don't cover the car while it's on the track. The policies are more to cover the normal wear and tear that occurs from driving the car so hard. If you do want on the track insurance, it's going to cost even more. There are no exact numbers because every car is unique and every driver has a unique history.
When you decide to buy insurance, Go Insurance Rates will find you the best insurance quotes and rates. Once you are put in touch with an insurance agent, you need to be patient and discuss the policy thoroughly. Make sure that you develop a thorough understanding of exactly what is covered and exactly how much you are going to have to pay for deductibles and premiums.
Losing your beloved race car could be devastating, but if you get the proper coverage you'll be able to get through it.