Im looking to convert a MK1/2 Escort into a trackday car. I am just wondering what sort of insurance i will need for trackdays, and if the worst should happen and i smash some other guys car up, would i be liable to pay for it? I know alot of people run on tracks without being covered, if i decide to do this and i crash will i need pay for the other parties car or is it just a case of you took the risk, so this is the price you pay? Also what is the deal with crashing into barriers etc, are you expected to pay for their repair?

Im a complete newbie to the track scene so any help will be appreciated