There is no doubt that running, whether by car, motorcycle, truck or other vehicle or animal, is a very dangerous sport. It is for this reason that insurance coverage is so important for the driver and the track owner or sponsor.
Racing car driver insurance
Known in the industry as AD&D coverage, this insurance is designed specifically for race car drivers. By providing accident and health coverage for competing drivers, companies that write this type of allowance are most likely on the market for other sports industries. As for race car drivers, disability limits differ according to the individual insurer.
Vehicle track insurance
If you’ve ever been part of the enthusiastic audience that sees a car, motorcycle or any other recreational vehicle race, you can understand that there are significant safety risks. Just like any highly populated sporting event, there are issues related to crowd control and bleaching risks. As regards claims for damages for third parties, the motor racing circuit insurance covers the owners and / or sponsors behind the event.
Specific scenarios in which a lawsuit can be initiated by an injured spectator include:
• When a grandstand or a staircase bends and falls
• When a crowd member is hit by a collision or participating car accident
• When someone watching a practice session or a real race is injured by debris thrown following an accident
This particular coverage does not include the protection of vehicle owners or sports car drivers. For more information on this topic, refer to the summary above about race car driver insurance.
Track insurance for pets
The first examples of participants in the hippodrome are horses and greyhounds, but other animals are also included. Significant risks include exposure to hay and any other combustible materials that are an integral part of the property. On the other hand, of course, there is also the potential harm to the animals involved and the possibility of considering the harm caused by the animals. The related liability factors are basically the same as for any other sporting event. However, the fact that animals, employees and spectators are so close to each other poses a risk of danger underlined on the track.
In addition, many of the circuits have ongoing betting activities which clearly leaves exposure to criminal activity, defined by the indemnity industry as dishonesty exposure. When restaurants are also part of the picture, restaurant risk exposure and liquor liability exposure go hand in hand.
For more information on related business insurance coverage, speak with an experienced independent agency that has your best interests in mind.