Raceway Insurance: Race Car Driver, Vehicle and Animal Racetracks

There is no doubt that racing – whether by auto, motorcycle, truck or other vehicle or animal – is a very hazardous sport. It is for this reason that insurance coverage is so important for the driver and track owner or sponsor.

Racing Car Driver Insurance

Known in the industry as AD&D Coverage, this insurance is designed specifically for the racing car drivers. Providing accident and health coverage for competing drivers, the companies that write this type of indemnity are most likely in the market for other sporting industries. In regard to racing car drivers, disability limits differ according to each individual insurer.

Vehicle Racetrack Insurance

If you have ever been part of the enthusiastic audience viewing a car, motorcycle or any other recreational vehicle race, you can well understand that there are significant risks to safety. Much like any highly populated sports event, there is the issues related to crowd control and bleacher hazards. In regard to third-party injury claims, vehicle racetrack insurance covers the owners and/or sponsors behind the event.

Specific scenarios in which a lawsuit may be initiated by an injured spectator include:

• When a grandstand or bleacher folds and falls

• When a member of the crowd is impacted by a participating car collision or accident

• When someone watching a practice session or actual race is hurt by debris hurled as a result of an accident

This particular coverage does not include protection for owners of vehicles or sports car drivers. Refer back to the above summary about racing car driver insurance for more on the topic.

Animal Racetrack Insurance

Prime examples of animal racetrack participants are horses and greyhounds, but other animals are also included. Significant risks include exposure to hay and any other combustible matter that is general part and parcel of the property. On the other hand of course, there is also the potential of damage to the involved animals as well as the possibility of damages caused by the animals to consider. The related liability factors are very much the same as any other sporting event. However, the fact that animals and employees and spectators are so close to each other, places an underscored hazard risk at the racetrack.

Then again, many of the racetracks have ongoing betting activity which clearly leaves exposure to criminal activity, defined by the indemnity industry as dishonesty exposure. When eateries are also a part of the framework, the related restaurant risk exposure and liquor liability exposure go hand in hand.

For more about related business insurance coverage, speak with an experienced independent agency that has your best interests in mind.

Traffic Violations, Auto Insurance, and Your Rates

Auto Insurance is expensive enough. You do not need a traffic ticket to make your premiums go up even higher. That is why it is important to drive carefully, courteously and within the legal speed limits. This way, you will give no reason for a police officer to pull you over and hand you a summons in regard to irresponsible driving patterns.

You may wonder. The ticket itself involves a fine. Why would you be penalized any further by your insurance company?

To be honest, your insurance company is not interested in punishing you. They are solely out for their own interests. When they see you have been convicted for a moving violation, they view that as a peril to their operations. Traffic violations demonstrate to the insurance company that you are at more risk of being a part of a car accident or collision than someone that has a clean driving record. A car accident, in insurance terms, means there will likely be a claim that they will cost them money. The insurance company balances the risk of an auto accident claim with a raised premium or added charge.

Of course each company gauges its response to a poor driving record individually. By and large though, they have a team that looks at the general behavior you have exhibited when you are behind the driving wheel.

And when deciding the amount of the rate increase, the insurance company will consider the severity of the traffic violation.

So, if you are committed of drunk driving, you will find yourself up against an extremely strict reaction in regard to a rate increase. If you have merely been ticketed for a broken headlight, judgement meted out against you will be mild. And if you have been found to be speeding 15 miles above the city limits, you will get a higher increase than if you would have been speeding only five miles beyond the posted mileage.

People often ask about parking tickets. For the most part, the motorist who receives a parking ticket need only worry about paying that ticket. The insurance company will not raise your rates if they see that you are responsible about your bill and they do not view a parking summons as a concern in regard to your likelihood of being involved in a car crash.

The line of thought goes far beyond a car. Whether you drive a truck, van, motorcycle or other type of vehicle, your rates can go up if you have been convicted of a moving or speeding violation.

For more on the topic, speak to an experienced independent insurance agent.