NASCAR Racing Teams and Insurance Companies: A Winning Combination?
As per NBC Washington, an average race team cost amounts to around $1.4 million per competition. Should the car be totaled during a race, the total replacement cost can add up to $400,000.
Despite the risks involved, the partnership is definitely profitable if the team wins or lasts longer than their debut. But, if a racer crashes in the beginning and loses momentum, the insurers can lower their expectations.
However, the publicity a partner garners through NASCAR is unmatched. As one of the most-watched sporting events across the county, it offers a tremendous opportunity to publicize in front of millions. From the company’s name and logo in gears, and even pit boxes, sponsors can get the exposure required to make their marketing campaign a successful feat.
Both parties offer complimentary benefits essential to each other in the long run. With insurance companies providing exclusive benefits to the racing teams and NASCAR offering much-needed exposure, this combination ought to be a winning pair.
