If you get injured before getting on the plane and have to withdraw from the Derby, we won't be in a position to refund your entry fee - it's already spent. So, if you want to insure yourself against losing the entry fee, you'd need to insure this risk separately. Many standard travel insurances include pre-departure cancellation cover but we spoke to our insurers Campbell Irvine about this point and was advised that most policies would only pay out to the value of an ‘average holiday’ - say £3k. If you wanted to insure the entire value of the trip - flights, entry fee etc they would be able to provide a policy for that, but it would cost much more than your regular holiday travel insurance policy, as they have to load so much more value into the premium. Anthony Kaye at Campbell Irvine advised us that as a guide, a policy to cover a £10k loss due to an unforeseen medical cancellation would cost around £350 to buy. But they can definitely find insurers to take that risk depending on where you live. Not everyone would bother insuring the cost of their adventure but if you are interested in covering off that kind of risk then this is very useful information.
If your ordinary travel insurer works with SOS as their emergency assistance partner, and is happy to insure both the risks explained above, then bite their arm off. But Anthony was sceptical of finding that level of cover away from a specialist insurer.
NB if you get broken half way round the Derby, or even at the start camp, there's no policy on earth that will pay out for curtailment or cancellation; you entered the world's toughest horse race. It looks rather like you got one.