1 00:00:01,920 --> 00:00:06,920 Speaker 1: Welcome to Brainstuff production of iHeart Radio. Hey brain Stuff, 2 00:00:06,960 --> 00:00:10,880 Speaker 1: Lauren Bogle bam here. Most drivers buy car insurance to 3 00:00:10,920 --> 00:00:13,600 Speaker 1: protect themselves in case they're in an accident and their 4 00:00:13,680 --> 00:00:17,560 Speaker 1: car or another person's car is damaged. But what about 5 00:00:17,640 --> 00:00:22,160 Speaker 1: race car drivers? The sport is built on speed. NASCAR drivers, 6 00:00:22,200 --> 00:00:24,599 Speaker 1: for instance, race its speeds of up to two hundred 7 00:00:24,600 --> 00:00:26,440 Speaker 1: miles an hour, which is a little bit over three 8 00:00:26,720 --> 00:00:30,520 Speaker 1: d kilometers per hour. And at speeds like that, accidents 9 00:00:30,560 --> 00:00:34,000 Speaker 1: are bound to happen, and they do. The cars are 10 00:00:34,000 --> 00:00:37,280 Speaker 1: built specially to break apart on impact, protecting the driver 11 00:00:37,479 --> 00:00:41,159 Speaker 1: by scattering the force. Some fans find the crashes to 12 00:00:41,200 --> 00:00:44,160 Speaker 1: be the most exciting part of the sport. So who 13 00:00:44,360 --> 00:00:47,919 Speaker 1: ensures these drivers and their race cars where accidents are 14 00:00:48,080 --> 00:00:52,280 Speaker 1: par for the course. Well, if you know anything about racing, 15 00:00:52,280 --> 00:00:56,240 Speaker 1: and especially NASCAR, you know the drivers have sponsors and 16 00:00:56,400 --> 00:00:59,840 Speaker 1: lots of them, and some drivers cars might be sponsored 17 00:00:59,840 --> 00:01:03,560 Speaker 1: by insurance companies. So does that mean the company insures 18 00:01:03,640 --> 00:01:07,840 Speaker 1: the car too? Sometimes, but not always? And if not, 19 00:01:08,040 --> 00:01:12,360 Speaker 1: then who does? Let's break it all down first. The 20 00:01:12,440 --> 00:01:14,840 Speaker 1: pit crew and other members of a racing team are 21 00:01:14,920 --> 00:01:18,560 Speaker 1: usually employed by the team, and that team usually provides 22 00:01:18,600 --> 00:01:21,240 Speaker 1: them with health insurance, just like any employer in the 23 00:01:21,319 --> 00:01:25,360 Speaker 1: United States can provide you with health insurance. However, drivers 24 00:01:25,400 --> 00:01:29,600 Speaker 1: are often independent contractors and employment status that generally comes 25 00:01:29,600 --> 00:01:33,880 Speaker 1: with no benefits, including insurance coverage of any kind. This 26 00:01:34,000 --> 00:01:37,679 Speaker 1: does vary somewhat, as some states have laws requiring workers 27 00:01:37,680 --> 00:01:41,360 Speaker 1: compensation or disability coverage, but that's an exception to the rule. 28 00:01:42,000 --> 00:01:45,840 Speaker 1: In short, drivers generally don't receive any benefits unless they're 29 00:01:45,920 --> 00:01:50,440 Speaker 1: hurt on the job, and often not even then. However, 30 00:01:50,720 --> 00:01:54,600 Speaker 1: professional drivers do have options for insurance, since being a 31 00:01:54,600 --> 00:01:58,320 Speaker 1: professional driver comes with perks and often major sponsorships. Some 32 00:01:58,440 --> 00:02:02,240 Speaker 1: insurance companies compete the right to negotiate contracts in exchange 33 00:02:02,240 --> 00:02:05,760 Speaker 1: for publicity for their brands, and most drivers are usually 34 00:02:05,840 --> 00:02:08,640 Speaker 1: in good physical condition as is demanded by the sport, 35 00:02:09,040 --> 00:02:12,280 Speaker 1: so they pose few risks to insurance companies outside of 36 00:02:12,320 --> 00:02:16,760 Speaker 1: the time that they're actually competing. But what about the cars. 37 00:02:17,240 --> 00:02:19,800 Speaker 1: The team owners can't just call up their local state 38 00:02:19,800 --> 00:02:23,080 Speaker 1: farm rep and ask for a policy for a race car. Instead, 39 00:02:23,280 --> 00:02:26,320 Speaker 1: racing teams typically must ensure their cars with companies that 40 00:02:26,400 --> 00:02:30,280 Speaker 1: specialize in motor sports. There are several such insurance companies, 41 00:02:30,320 --> 00:02:33,200 Speaker 1: and they typically based the policies on agreed upon values 42 00:02:33,240 --> 00:02:36,720 Speaker 1: of the cars and on the competition schedules. That is, 43 00:02:36,880 --> 00:02:39,480 Speaker 1: the more races on the schedules, the more the policies 44 00:02:39,520 --> 00:02:44,000 Speaker 1: are likely to cost. Racing assets such as tools, trailers, 45 00:02:44,000 --> 00:02:46,960 Speaker 1: and facilities, and even the tracks themselves need to be 46 00:02:47,000 --> 00:02:51,520 Speaker 1: insured too. Drivers may also carry business liability coverage and 47 00:02:51,639 --> 00:02:55,639 Speaker 1: life insurance in addition to their health insurance, and spectator 48 00:02:55,720 --> 00:02:59,359 Speaker 1: and liability insurance is also available through companies that specialize 49 00:02:59,360 --> 00:03:03,320 Speaker 1: in motor sports insurance. That's because of all spectator injuries 50 00:03:03,360 --> 00:03:07,280 Speaker 1: at sporting events, most occur at auto and motorcycle racing events. 51 00:03:07,880 --> 00:03:10,200 Speaker 1: That's because fans sitting near the track are at higher 52 00:03:10,280 --> 00:03:12,400 Speaker 1: risk of being hit by an out of control vehicle 53 00:03:12,680 --> 00:03:20,560 Speaker 1: or debris from a crash. Today's episode was written by 54 00:03:20,560 --> 00:03:23,000 Speaker 1: Shers three Win and produced by Tyler Clang. For more 55 00:03:23,000 --> 00:03:25,160 Speaker 1: on this lots of other fast topics, visit how stuff 56 00:03:25,160 --> 00:03:28,040 Speaker 1: works dot com. Brain Stuff is production of iHeart Radio. 57 00:03:28,280 --> 00:03:30,560 Speaker 1: Or more podcasts to my heart radio visit the iHeart 58 00:03:30,600 --> 00:03:33,240 Speaker 1: Radio app, Apple Podcasts, or wherever you listen to your 59 00:03:33,280 --> 00:03:34,000 Speaker 1: favorite shows.