standard base line of $2 million is min. now a days. a few things come into factor, are you only racing at one event(facility) if spectators, is there enough safety measures between the action and them, equipment covered(computer, ect). if you are on private property then i'm sure the owner would like a waiver signed by all participating, have a sign or signs stating use at own risk and the club is not liable ect... insurance companies are becoming harder to deal with than the old days, if all above is stated and most insurance companies will ask for this then insurance could start around $800 and go up from there all depends on what type of coverage you need but that should start you up. to give you an example we hold a few races at a large mall in calgary (outside) including the mall on the insurance policy so our insurance is used first before theres it costs us $180. for that event. hope this helps