Insurance for racing on track is cost prohibitive. When I was testing the Barber Dodge Pro cars down in Sebring, on track insurance was $900/day. This was testing, not actual wheel to wheel racing.
I paid for the insurance. Good thing, too, because I lost control in turn 1 at 107mph and stuffed it into the tire barrier at the exit. I had to pay the deductible as well, which was $5,000. It sure beat the $15,000 bill for replacing the right side of the car!
Everyone signs a waiver before going out on track that acknowledges that racing is a dangerous sport, that can result in injury or death, and the signer holds no one responsible. The first time someone successfully sued for wrongful death on the track, it would pretty much end racing as we know it.
Gary
Sheehan Motor Racing
www.teamSMR.com