Racing enthusiasts around the world tune in to watch the famous Indianapolis 500 race also known as The 500 or the Indy 500. This popular event is held every Memorial Day weekend in the aptly named city of Speedway, Indiana. Visitors flock to the Indianapolis Motor Speedway to watch their favorite drivers speed past them in a blur. The event’s name comes from the class of cars, IndyCar, that have open wheels and are used to compete in the championship motor circuit course. It is often referred to as “The Greatest Spectacle in Racing”, and approximately 400,000 people watch the race every year. In fact, the Indianapolis 500 is one of the three most important motorsports events worldwide. You may not be a professional Indy car driver, but you can still save money on your auto insurance by using our free rates quotes system.