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What's covered with motor sport insurance

Liability Insurance Motorsport Insurance

Motor sport insurance - more than just for cars

A common assumption is that motorsport insurance is just for racing cars. This is certainly not the case. Motor sport insurance covers a broad range of vehicle-types and activities. Vehicle types range from motor/trail bikes, boats and other water vehicles, as well as trailers, trucks and transporters, in addition to various types of cars. The types of motor sports commonly covered vary widely from kart racing, bike racing, drag racing, speedway, and car racing to boat racing. Whether you're a seasoned professional, or just learning the ropes, motorsport insurance allows you to have peace of mind that your investment is protected so you can keep doing what you love.

What types of vehicles can be covered with a racing insurance policy?

If it races, has an engine and it isn't a road-registered vehicle, chances are it can be covered by a motor sporting insurance policy. There are some specific types of vehicles that are most commonly covered by a motor sport insurance policy. These include:

Competitive motorbikes/trail bikes
Cars, ranging from karts and drag cars, up to V8s and Formula One
Boats and other on-water racing vehicles
Trailers and vehicles used to move other racing vehicles to and from events.

What is motor sport insurance?

As the name suggests, a motor sport insurance package is designed to give you comprehensive cover for any accidents you might encounter as someone who's involved in the racing industry. This cover extends across:

You as a racing participant, in case you get injured
Your racing vehicles, including during loading and unloading from your trailer
Your trailers and other general goods that are used as part of a race
Your race track and buildings
Public and products liability insurance
Your motor sport business, if you're running a karting shop, working as a transporter for racing vehicles or organising races
A motor sport insurance policy can also include a Transporter Package Insurance policy. This cover is designed for larger operations that are using a dedicated transporter to move their motor vehicle. The policy covers the transport vehicle and its contents (including race vehicles) in case they are stolen or involved in an accident.

At Trans-West, we have also developed tailored motor sport insurance cover for those who are teaching people how to race. With this style of insurance cover, we're able to combine both professional liability and public liability cover.

What does a motor sport insurance policy cover?

Regardless of whether you're a hobby driver or a professional racer, vehicles involved in motor sports will have a unique risk profile that deserves a dedicated insurance policy. As a driver, it also gives you peace of mind that the investment you've made in your vehicle is as secure as possible. This could mean protecting your vehicle from theft, fire or water damage, or from accidents caused when transporting it to a racing event. This cover can also extend to your tools and any other items that are involved in your racing. There's just one area where we can't insure your vehicle; when you're on the track racing itself.

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Management Liability Insurance

Management Liability insurance is designed to provide protection to both the business and its directors or officers for claims of wrongful acts in the management of the business.

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Public Liability Insurance

Public Liability insurance is there to provide protection if someone makes a claim against the insured, the business or its employees.

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Is it just drivers who are covered?

It isn't just drivers who might need a motor sport policy though, and our team has extensive experience working with those involved in motor racing, who aren't getting behind the wheel themselves. If you're operating a racing track, we can arrange liability cover for your operations.

Need specific motorsport insurance advice?

If you're ready to talk to the experts about how to insure yourself, your equipment or your business, reach out to the team at Trans-West Insurance Brokers. We know the industry and we have the expertise needed to make sure you're getting the right cover to keep you on track, no matter how you're involved in the racing industry. We've worked with a number of insurers to develop an industry-first; an insurance policy that is tailor-made for motor sport competitors to protect them in a competition environment. Talk to Trans-West today to find out more about your needs and cover options.

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General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

All information above has been provided by the author.

Jane Laybutt, Trans-West Insurance Brokers, ABN 90001996489, AFSL 230126