Motor sport Insurance – a comprehensive solution


Motorsport Insurance is an industry that is unique as it is a top rated speciality. Motorsport insurance is a safe hold special risk. It offers primary and excessive medical coverage for drivers, crew members and other participants. It is a well oiled program in which considerable thought is given to liability coverage for risks and exposure related activities including spectators, automobiles, sponsors and owners.

Rules in Motorsport Insurance 

There are some major rules in motor sport insurance that needs to be looked into and studied in detail

  • Each driver and his assistant must be present at the registration desk on the day of the race.
  • Driver must be present at the drivers meeting. This is mandatory or else he will be disqualified.
  • No alcohol or drugs are allowed at the pit, holding or performing area and neither will the driver and his assistant will be allowed to consume the same before the race. If found in an inebriated condition the driver will be disqualified.
  • Only a driver of over sixteen years of age will be allowed to participate.
  • No substitute driver will be allowed.
  • The car in use should a wheel base of 106 degree or larger with a six to eight cylinder.

Regulation in Motorsport Insurance 

Motor sport Ireland or MI is a recognized insurance organizer in motor sport. If any participant or official is not permitted by MI then the adequacy of the insurance will be needed to be checked. All insurance policies run for a twelve month period from January to December.

Wide Ranging Cover of Insurance

  • There is a legal liability cover in which one is held responsible for causing an injury to a third party or damage to third party property.
  • There is a master legal liability cover that has a limit of twenty five million for every loss.
  • There is a personal insurance that provides benefits for specific injuries while taking part in such events.

Legal liability insurance is designed specifically to meet the needs of motor sports drivers in general. The amount of 25 million that has been decided upon is to give the driver peace of mind in the event in which he is participating and that he will not be responsible in a catastrophic injury if it occurs.

In personal accident insurances the benefits are as follows-

  • Loss of eyesight in both or in one the amount paid will be 1.25 million.
  • In temporary disability subject to a hospital stay for twenty eight days the amount given will be five hundred dollars per week. If the driver is employed then he is entitled to that amount for a period of a hundred and five weeks.
  • However if the driver is not employed then he is entitled to a wage of two hundred and fifty dollars payable up to twenty six weeks.
  • In case of an Insured driver who is less than eighteen years of age and in full time education an amount of twenty thousand dollars will be disbursed.