This is the way the racing exclusion reads in 9 out of 10 insurance policies:
Exclusions:
Loss to "your covered auto" or any "nonowned
auto", located inside a facility
designed for racing, for the purpose of:
a. Competing in; or
b. Practicing or preparing for;
any prearranged or organized racing or speed contest.
As you can see it is only addresses accidents off road/on a track.