If you are involved in racing vehicles or craft and, especially if you operate a business in building, servicing or repairing vehicles or craft from your home, you can not rely on your homeowners policy for either liability or property coverage.
Coverage for damage to actual equipment that is raced is seldom covered. You will want to check with your agent or your racing association for coverage for shop equipment, portable tools, travel trailers and other equipment related to your racing hobby or business. You will also need liability coverage or, at a minimum, be sure that the racetrack has spectator liability coverage that applies to your race participation, including practices.
Your business may need to be insured by an individually designed commercial package policy that includes appropriate coverage forms (endorsements) or a specialty form. Your protection may need to include coverage for the following:
It's critical to identify if you need coverage against products liability claims that can arise from customer property you have worked on at your business, which may be transit, located at another processor or at your customer's location. An Auto Garage liability policy may be necessary to handle any on-premises bodily injuries and a garagekeepers liability form can protect you against claims for damage to customer vehicles.
You may need commercial automobile insurance if you make deliveries, if you have a commercial-size vehicle, or if the vehicle is owned by a corporation.
If you have any exposure involving racing or repairing, it's important for you to discuss your situation in detail with an insurance professional.
Revised 10/00
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