Motorsports Deep Dive: An Agent Guide to the Basics

Thunderhill racing under Hagerty banner

Agents writing with Hagerty often find themselves a bit outside their typical auto clientele and coverage. The motorsports market is a great example. Protecting race-ready cars and motorcycles takes our business a step beyond standard collector vehicle policies… But that doesn’t mean this sector can’t be a moneymaker. If the motorsports world is outside your comfort zone, fear not. This primer will help you better understand the client, the events, the cars, and why this market segment isn’t one to leave in the dust.

Why motorsports enthusiasts?

"Motorsports" is the catch-all term we use for events involving motorized vehicles, whether for racing, non-racing competition, or personal performance and skill development.

For some, motorsports represent the ultimate celebration of driving. In fact, nearly half (46%) of enthusiasts who own cars tell us they watch motorsports.* But even more meaningful to agents, 20% of this group actually participate in a motorsport activity.*

Some clients simply drive their high-performance cars (think Mustangs, Camaros, and Chargers) to the track for a few solo laps. But others compete against their peers in purpose-built race vehicles with unique storage and transportation needs.

Motorsport owners skew a bit younger than average (44 years) and spend $30k annually on their automotive hobby (that’s double the average yearly spend).* They’re also much more engaged – choosing to join local car clubs, travel to automotive events, play racing video games, and consume more automotive videos.*

Engaged youth with money to burn? That’s a prime growth market. And let’s not forget high-net-worth individuals who spare no expense for their hobby and have their own complex risk management needs; for these folks, passion assets can be a great foot in the door to additional opportunities.

Either way, it’s all good for you. Motorsports enthusiasts need a different set of insurance tools than the average collector. And thankfully, they have you to guide them.

Motorsports coverage starts with the event

Motorsports includes a wide range of racing disciplines, each with its own organizing body and events. If you’ve seen cars flying around cones in a parking lot, you already have a good idea of what this world is about.

Knowing which event(s) your client participates in is the first step toward recommending the right coverage. Through Hagerty, you can offer a variety of policies for clients both on and off the track.

On-Track Coverage

Both single-event and annual insurance policies are available to enthusiasts who participate in non-competition track events. These include:

  • High Performance Drivers Education (HPDE): These are safe driving programs that include classroom education, technical inspection, and on-track exercises.
  • Time Trials: These events allow enthusiasts to vie for the fastest single lap or total elapsed time while completing a designated course.

Off-Track Coverage

Insurance options are a little different for clients with purpose-built race cars. Although we don’t offer coverage while racing, policies through Hagerty do extend to your customer’s off-track needs:

  • Trailer and paddock coverage: Huge for the 99% of time participants spend while waiting to race or while their vehicle is in the shop.
  • Full coverage including liability, collision, and comprehensive: For those who drive street-legal cars on public roads and need additional protection.

What’s next?

Once you nail down which event(s) your client participates in you can start to custom-tailor coverage by vehicle type.

What “race cars” does Hagerty cover?

Hagerty Motorsports coverage extends to raced vehicles of all eras — both street legal and those built exclusively to race:

  • Purpose-built race cars: This includes vehicles designed and manufactured specifically to race. Race cars, rally cars, and dragsters are great examples.
  • Production cars: These are modern late-model muscle and sports cars. Production cars can also include supercars and exotics.
  • Raced motorcycles: Including those participating in motocross (dirt track), road racing, time trials, speedway, ice racing, and hill climbs.

Many event participants with these vehicles aren’t aware of their full coverage options. That’s why understanding their needs and recommending the right protection is so important.

Guaranteed Value® coverage lets you work with your client to set an accurate value for their car.** And in the case of any damage, our in-house claims team knows motorsports and the unique needs of these cars.+

And remember, if you take good care of one racer, there’s probably another dozen that will hear about it at the next event.

Hagerty offers affordable custom motorsports coverage

The high-paced Motorsports world is loaded with opportunity.

Since most enthusiasts don’t use their main vehicle for racing, the motorsports participant, almost by necessity, owns other vehicles. Hint: performance car owners are more likely to have other vehicles that need coverage.

When you find clients who race, share that Hagerty offers winning insurance options both on and off the track. Organizing bodies, clubs, and local events are your gateways to reaching these participants.

Visit our Motorsports hub to find related media and events near you. These are all valuable touchpoint opportunities. Every race or networking event is your chance to drive attendees into the Hagerty coverage community.

Motorsports enthusiasts might be interested in being part of the Hagerty Drivers Club® or joining a Hagerty Garage + Social® meetup at the very least.

Commercial motorsport event insurance coverage is also available for those who express a need. Motorsports Advantage and other add-ons can provide protection for things like safety equipment, tools, spare parts, and more.

Make sure to log in to the Hagerty Agent Business Center to get familiar with our motorsports products. As your expert partner in all things automotive, Hagerty is here to help. Call us with any questions at 800-747-5348 or live chat at

*Hagerty US Brand Tracker Study 2020.

**Any deductible or salvage value if vehicle is retained by your customer will be subtracted from the total amount paid. Guaranteed Value includes all taxes and fees unless prohibited by state law.

+Should your client have a claim, our in-house adjusters are skilled in understanding the intricacies of classic car repair. They have connections that help them quickly track down stock original replacement parts, if they’re available. And they can choose their own trusted repair shop – or we’ll pay them to do the work.

Hagerty, Hagerty Drivers Club, Guaranteed Value & Hagerty Garage + Social are registered trademarks of the Hagerty Group LLC, ©2024 The Hagerty Group, LLC. All Rights Reserved. The Hagerty Group, LLC is a wholly owned subsidiary of Hagerty, Inc.