Insurance for Motorsport Teams by Prosura
No matter what level you and your team are performing at, you and your sponsors will have invested significant time, money and resources in getting on the grid. Insurance might seem pretty dull, but it can be just as important as tyre pressure when it comes to keeping you on track.
At Prosura we offer friction free service and access to insurance cover for motorsport teams from a range of leading providers.
What can be included on a Motor Racing Teams insurance policy?
There are a range of assets and equipment that any motor racing team would want protected. We can help you protect the teams main assets:
- Cover for competition vehicles
- Parts insurance
- Trailer and pit bike cover
- Computer and diagnostics equipment
- Tools and equipment
- Protective clothing
Thought will also need to be given to the logistics of the team. If you are based out of workshop premises, they will need to be insured. You will need cover in transit to and from venues as well as while you are set up at the circuit for the weekend.
What else should be considered when buying insurance for a Motor Racing Team?
The main consideration for many motorsports teams is ensuring ‘agreed value’ for the racing vehicle and equipment. It’s obviously very likely that the vehicle itself will be heavily modified and significant IP invested into it – you will want to make sure that the insurance reflects that and is agreed with by the insurer.
Aside from insuring the teams assets, equipment and logistical considerations, you may need to think about your liabilities. Even if the team is run by enthusiasts and volunteers, you will need to consider Employers and Public Liability cover, protecting you in the event that someone were to be injured or suffer a loss as a result of the teams activity.
Why choose Prosura for Motorsport Team Insurance?
We’re here to let you get on with running your business by providing friction free access to expert advice and high quality insurers. We’re on hand with professional advice as your business evolves and expands.
We also give all our Motorsport Team Insurance Clients free access to PROSURA Digital Lawyer, saving them hundreds of pounds a year on Legal Fees.
For your Motorsport team cover requirements, contact the specialist brokers at Prosura today.
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