[Closed] F1: who pays the repair bills?

insurance

Everyone pays their own bills. Insuring an F1 car against race damage is probably one of the less possible things in this world.

You surely pay to repair your own car, it's a raceing incident?

I'd have assumed that - I just didn't know if Martin Whitmarsh sent out invoices for repairs to Christian Horner...

I didn't think it would be insurance.

I reckon they will be self-insured as I can't believe that any underwriter would be daft enough to underwrite such a risk.

I just didn't know if Martin Whitmarsh sent out invoices for repairs to Christian Horner...

I'd imagine Horner would laugh so hard he'd pee himself if anyone ever tried something like that

Now, there are tales of Eddie Jordan demanding money for damage caused by another team/driver

I believe it too 🙂

They surely pay for their own, like in bike racing. In a race, if someone takes me out and ruins my bike, it's a condition of me being allowed to race that I can't claim against anyone.

^^^^

I wonder if they have to sign some sort of legal disclaimer before racing? Part of the annual contract they agree with the FIA?

I'm certain they do do that. i guess what I'm getting at is what kind of money changes hands behind the scenes

Presubaly if they trash one tub the big teams dont rebuild it like for like anyway, so how would you possibly be able to put a value on the new one as the cost of building one is probably low compared to the design cost, and how much of the design cost is proportioned to the old car, the team mates car and the new car?

Actually you can take out crash damage insurance for motorsport now, including for MotoGP. The premiums are quite high, but when a small knock in a GT1 car can leave you with a bill for £50,000 that's sort of understandable.

Not sure if anyone in F1 has taken out a policy though...

teams can even take out insurance against having to pay out bonuses for driver results

sponsors in lots of sports do this

Cue law suit against lala Armstrong.