I hold the view that you shouldn't take a bike to the track you aren't prepared to lose. Even though track days are more controlled than all-out racing, the speeds are higher, you're pushing limits and incidents happen. Damage can be minor all the up to a twisted frame. You can't claim track damage on insurance (every policy I've ever heard of disclaims liability for closed-course use and attempting to claim the damage as street damage is fraud).
If you are prepared to take the risk of wrecking your street bike at the track, make sure you have the funds available to repair it. Frankly, if you can't afford to repair the damage, you can't afford to ride at the track.
Buy, rent or borrow a trailer as mentioned. Do not ride your street bike to the track. You need to do too much prep and you don't want to be harried and stressed out carrying everything with you in a few saddlebags when you can relax in a car or truck with a ready-to-go bike tied down behind you. Do the prep before you go to the track. Bring tools and any items needed to correct any problems they may find. You may be asked to remove a sidestand or a set of turn signals (which should be removed anyway).
Buy or borrow a set of 2pc or 1pc leathers. Bring a spare helmet if you have one. Get good gloves and boots (preferably geared for racing). For me, this is easy because my street gear can double as a 2pc track set. Do not skimp. Although good gear is not a panacea, it goes a long way in making you more relaxed in the saddle knowing you have decent protective gear on. Go down on the track in good gear and you'll be glad for it (just like on the street). Wear two pairs of jeans, a shitty jacket and a pair of work boots on a NESBA track day and drop it and odds are good you'll get hurt. Just no substitute for a good set of leathers. Even a closeout 1pc or 2pc suit from New Enough will pay for itself with one fall in prevented road rash.
My personal setup is this:
Fieldsheer Carbon Race jacket, Fieldsheer Sport Air pants (with knee sliders), Sidi Vertebra 2 boots, Joe Rocket GPX gloves and my helmet (Arai). This is my daily riding gear. I swap a Fieldsheer Mach 2 mesh/leather jacket for the Carbon Race in hot weather. Both jackets zip into my pants and the leather has a full circumference zipper which makes it track-day legal with almost every org.
I highly recommend a dedicated track day bike. If you are just looking to do track days and not race, any beater 250 to early-600cc machine will do. It would be dangerous to take a modern 600cc or 1000cc machine to a track day if it is not your daily rider. If you are going to push serious limits on an unfamiliar machine it is preferable to do it on one that won't bite you in the ass. A great, cheap track bike is the Ninja 500 (EX500) with a few minor mods. If you have solid riding skills, an SV650 is another great machine but not as forgiving. GS500, EX250, CBR600F2, FZR400 and FZR600 are good choices too. All depends on your skill level. Of these, the FZR400 would be the best if you can find a cheap example. Incredibly good all-around track machine and it can act as an entry-level machine into racing.
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