I know the owner of the #25 AC Cobra and he has already said he is going to restore the car...and yes, it is a real small block Cobra (CSX2***). His mechanic told us it wasn't saveable but Fritz obviously has his sights set on putting it back together.
I know of no insurance that will cover a car during a race event. I believe the repairs will come from the owner's pocket. Hope they are deep!