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Insurance is one of the most taboo subjects in auto racing. Some drivers clam up when the topic arises and feel uncomfortable disclosing details about their life and disability insurance policies. Others are more forthcoming. Because drivers from NASCAR to Formula One are independent contractors, they are responsible for getting coverage on their own. ''I want to make sure if something happens to me that my daughter and wife are well taken care of and they don't have to worry,'' said NASCAR Cup rookie David Reutimann, who drives for Michael Waltrip Racing. ``I want to leave them more than a good memory or two. You don't think about that side of the deal but What makes me write that check is the fact that if they need it, it's going to be there.'' Although most forms of racing are safer now than a few decades ago, an injury can cost a driver his livelihood and a fatality can leave spouses, children and a drivers' parents with nothing to recoup. ''It's just one of those things, you don't need it until you need it,'' said veteran Cup driver Jeff Burton, 40, who will race in Sunday's Ford 400 at Homestead-Miami Speedway.

Several successful NASCAR drivers said they pay between $150,000-$200,000 per year for coverage. Depending on the coverage they want, premiums can be as little as $5,000 or as much as $1 million. The higher premiums can buy a driver as much as $100 million worth of coverage. Several drivers said they bemoan paying for life insurance, but acknowledged it's a necessity. The price also pales in comparison to what they pay to buy private jets, own custom-made multimillion dollar motorhomes and lavish residences. ''Some race car drivers dream insurance premiums are too high, but how many race car drivers are making less than $300,000 a year?'' said insurance broker John Gorsline, who specializes in insurance for drivers and represents several NASCAR stars.


NASCAR drivers make sure they have life insurance - 11/14/2007 - MiamiHerald.com

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It would seem to me that if you are a driver making less than the cost of the insurance then maybe you shouldn't be driving. I would also think that the better teams make that a part of the contract.

[PenelopePitStop]

I could be ignorant, but I would think that the best long-time drivers have made enough money to ensure their families are taken care of. Maybe not.

I also agree that some sort of insurance should be part of their contract.

Then, I'm sure the payout for death at the track would be higher than death off the track. Of all the drivers who have come and gone, how many were killed at the track (Cup only), and how many were killed say in a helicopter or plane crash? Of course, Sr. was at Daytona. The guy had so much money, I think a high-priced life insurance policy would have been a moot point. Irwin at Loudon. Petty at Loudon. However, I assume their financial situation wasn't the same as Sr. Allison and Kulwicki were killed outside the track.

Pause ...

I just did a search. Here's a link to all who were lost in motor sports. I must say, I was shocked! I was only interest in Cup drivers, but man!

List of racing drivers who died in racing crashes - Wikipedia, the free encyclopedia

Interesting topic. I wish I was in a financial situation where I had to worry about spending $150k a year on life insurance.

Yeah its crazy that drivers have to put their life on the line everyday. But, it seems that football players and other athletes are more prone to injuries than NASCAR drivers.

Several times this year, athletes of the NFL have suffered career-ending accidents on the field.

I enjoy NASCAR the most because the drivers are so down to earth and friendly. Look at Ryan Newman -- he hosts a weekly Podcast on AlltelRacing.com and answers questions for his fans! From listening to Ryan you can tell he cares a lot about his family too and wants to make sure Krissie and his family are taken care of. Check out the Podcast -- it's great you learn more about him than ever before!