Yes -- I have insurance on the race bike that covers it for just about everything -- as long as the igniton isn't on, so to speak. That is - fire, theft, vandalism, trailer breaking loose and yee-hahing over the cliff, and so on...just not while the bike is in operation. I get the coverage through my local agency, but it's the same company that's on the inside front cover of the rulebook.
I pay $1000/year for $35,000 coverage for the bike, and there's coverage for tools, the trailer, even t-shirts that I might have with to sell at the races. Motorsport Insurance Services is the company -- there might be others out there that will provide some coverage. I know there's another firm - that covers vintage vehicles only (my bike is an '00, too new for this other firm).
They send you an application where you can list not just the race vehicle but all those other extras -- then they give you a quote, and then you can back out a few bucks worth of the tools or the shirts or whatever is inside and they'll requote, maybe at a lower price.
As long as you don't roll it up in a ball, you've got coverage.
