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Motorsports Insurance

Why You Should Have Motorsports Insurance

Motorsports Insurance will seem like a must to anyone hearing those words. Still, some individuals and businesses attempt to go without motorsports insurance. This is often due to being denied by their insurance provider. As you will see, however, motorsports insurance is essential as the motorsports industry can involve significant risk and danger.

Motorsports describes sporting events that involve the significant use of motorized vehicles. The following sports are all considered motorsports and their participants would benefit from proper insurance coverage to mitigate the inherent risks of motorsports:

  • auto racing
  • banger racing
  • demolition derby
  • hovercraft racing
  • kart racing
  • motor rallying
  • motorcycle racing
  • motorcycle trials
  • motorboat racing
  • radio-controlled model racing
  • snowmobile racing
  • truck racing

Whatever the sport, whether racing or otherwise, there may be some risk to the participants, spectators, and property, making motorsports insurance critical.

The Dangers and Risks of Motorsports

Safety in motorsports is better than ever, but the inherent risk of operating motorized vehicles, typically pushing the limits of the machinery and the drivers, means that serious accidents can happen. Motorcycle racing remains inherently more dangerous than other motorsports due to the rider being exposed.

In May 2021, Jason Dupasquier died of his injuries while attempting to qualify for the Italian Grand Prix Moto3 race at Mugello. Italian Motorcycle racer Franco Morbidelli admitted: “This is not the first time that this happens, it’s not going to be the last.”

More than 3000 drivers, mechanics, support staff, and spectators have died during motorsport races. The Indianapolis Motor Speedway has seen the most fatalities of all tracks, with 56 to date. The causes of accidents range from dust getting in the drivers’ eyes to mechanical failures leading to drivers losing control or vehicles catching fire.

Even when these incidents do not result in death, metal and high speeds often lead to serious injury.

At Keigwin’s At the Track, a Luguna Seca event, Daniel Kim sued the firm after breaking both of his legs on turn five of the track. He went off track and his bike hit a sandbag used for directing the flow of water and controlling runoff. Kim went over his handlebars and suffered a serious injury.

Despite having signed a familiar waiver accepting that he would be participating in a dangerous activity with inherent risks, his lawyers sued for $15 million. Investigation during the lawsuit brought to light the fact that Kim missed the pre-riding meeting, but the track organizers allowed him to race anyway. The organizers also failed to do a track inspection, during which they may have decided to remove the sandbag in question.

As you can see, many factors can contribute to a motorsports accident. The causes are not always apparent. And it’s possible that companies and individuals may be sued, even if a waiver has been signed before the incident. While waivers go some way to protecting individuals and businesses, there is nothing like adequate insurance coverage to make sure you have what you need should the worst occur.

How XINSURANCE Can Help With Motorsports Insurance

XINSURANCE is an insurance broker providing specialty liability insurance solutions to our businesses and individuals. XINSURANCE is powered by Evolution Insurance Brokers, LC (“EIB”), an excess and surplus lines insurance brokerage. Our all-in-one approach means that we can offer coverage when there is a claims history or when an individual or business has been denied coverage in the past.

Motorsports insurance will help protect individuals and businesses from liability claims involving this exciting and competitive sport.

Contact XINSURANCE for a Motorsports Insurance Quote

If you would like a quote for motorsports insurance, please get in touch with us today. You can visit our website to see more of our extensive product line and you can also use the site to request a quote or get in touch. Other contact information is as follows:

Individuals and businesses can enjoy motorsports and peace of mind with the help of our specialty liability insurance solutions. Contact XINSURANCE for more information on how to partner with us.


Rick LindseyAuthored by Rick J. Lindsey, President, Chairman, and CEO of XINSURANCE

Rick J. Lindsey hails from Salt Lake City, Utah. He began working in the mailroom of his father’s Salt Lake City insurance firm, getting his introduction to the business that became his lifelong career. Rick J. Lindsey quickly rose through the ranks while working in nearly every imaginable insurance industry job. As an entrepreneur, specialty lines underwriter, claims specialist, risk manager, and a licensed surplus lines broker, Rick J. Lindsey is highly skilled in all levels of leadership and execution. As he progressed on his career path, Rick J. Lindsey discovered an urgent need for insurers willing to write policies for high-risk individuals and businesses. He was frequently frustrated that he could not provide the liability protection these entities desperately needed to safeguard their assets. He also formed the belief that insurance companies acted too quickly to settle frivolous claims. Rick J. Lindsey decided to try a different approach. He started an insurance company and became the newly formed entity’s CEO. This opportunity has enabled Rick J. Lindsey to fill a void in the market and provide a valuable service to businesses, individuals, and insurance agents who write high-risk business. XINSURANCE also specializes in helping individuals and businesses who live a lifestyle or participate in activities that make them difficult for traditional carriers to insure. If you’ve been denied, non-renewed, or canceled coverage, don’t give up quite yet. Chances are XINSURANCE can help.

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