I've bought track day insurance for High Performance Driver Education, i.e. track days. there's a regular market for it, given that regular auto insurance excludes any loss on a track.

First time I did it, it was $400 for 2 days coverage for $110,000 property damage coverage. As for self insuring, which I'm a big advocate of, I could stroke a check for a $100,000 total loss but I wouldn't be very happy about it.

Since then, as the car has gotten older, and I'm more sure I can mitigate my own risk with a little prudence, I skip the insurance, essentially self insuring for about $60,000

I believe that Markel, and some others do. The numbers just don't add up though.

The risk you're going to destroy your bike in a race are really pretty low. I've raced for years, had my share of crashes and never broken a frame in a race.

Even if you do break a frame, they are often repairable for a few hundred dollars, and even if you were so unfortunate to destroy the frame, most of the rest of the bike will likely be salvageable, and you're looking at few thousand for a new frame on really expensive bike.

Insurance carriers know this. They underwrite the risk so that they will make money, i.e. the premiums they take in, plus investment income will always exceed what they pay out in losses. Otherwise they couldn't stay in business.

That explains the list of sweet bikes you own!

From the first paragraph on the homepage Markel Corp - Insurance of Markel Insurance:
"At Markel, our main operations are insurance—not the life, home, or health insurance that many people are familiar with, but specialty insurance. Specialty insurance provides coverage for hard-to-place risks that generally do not fit in the underwriting criteria of standard insurance carriers, and Markel offers specialty insurance for a variety of niche businesses across the globe."

The point being that it is ludicrous to suggest that State Farm or any other typical insurance company that offers life, home, or health insurance is failing its clients by not offering/suggesting to its policy holders insurance coverage for bicycle damage incurred while racing or that anyone with auto/home/homeowners insurance should change their insurance coverage to a specialty company that does.

That sounds like driving on a race track, not driving/participating in a car race. $110,000 property damage coverage sounds like liability insurance for property damage you cause to others, rather than insuring your own vehicle. Is that correct?

Attached is a picture of me on my bicycle at the Hockenheim, Germany F1 race track. I got to ride my bike on the track that day but was NOT participating in a bike or F1 race. No special insurance was required.

High Performance Driving Education("HPDE"), which I do, isn't a race; its just an opportunity to drive your car fast on the track, and hopefully learn to drive it better. While it's not timed, and allegedly non-competitive, there is a competitive aspect to it.

There is insurance for competitive events. Both of the companies I've used, Haggerty and Lockton write coverage for time trials, which are races just not head to head.

For a large enough premium and high enough deductible you can get insurance covering property damage occurring during a race. Motorsports & Racing Insurance Coverage : Chizmark & Larson Insurance Agency Motorsports

And the $110,000 covered property damage to my car, based upon its value at the time.

Thanks for the response. As I surmised, only specialty insurers, no reference to any insurance company that might attach a rider to bicyclist's renter/homeowner/auto insurance policy to cover bicycle damage incurred while racing.

Note that the OP was shocked, shocked that his State Farm renter's insurance didn't cover bicycle damage incurred while racing, and it was suggested that somehow the State Farm agent was lazy or negligent not to offer a bicycle race "rider" to make the poster happy.