I have been riding for 11 year, racing for 7. I have given up riding on the street for the last three to four years. I am simply AMAZED when street riders complain about rising insurance costs and do something like insure their track bike. WTF? I don't know, that sounds like being a hypocrite to me.
Maybe I should insure my race bike to help with the insurance costs!
???
Rising insurance costs are more of a result of people like these....
http://www.gsxr.com/showthread.php?t=3677
... and sue happy people now days. IMHO.
Dawn
Saw that one, too. Idiot.
I once saw a guy get his eyesocket broken at a Tai Kwan Do tourny. It ain't pretty. He turned in a back hook kick. Went down like a brick hit him. :(
My street bike insurance has been dropping as my bike gets older. I pay less than $250 per year. My wife pays $85 per year. I don't bother getting collision insurance.
I pay $320.00 a Year for Full Coverage on my 2004 R1...
I have State Farm, I also have my 2 Cars and Renters Insurance thru them...
I think State Farm only insures sport bikes if you have other policies with them.
I tried to insure my racebikes for theft/liability but my current agent said that they would not insure them. I was able to get additional insurance on my trailer, but if the bikes get stolen, I am SOL.
What does your trailer insurance policy read?
Does it also cover "loss of contents" (up to a certain $ amount)?
I say, use the tools you have to get what you need.
Time to store your bikes in the "trailer"
It doesn't cover anything with a "title" or VIN numbers... It covers loss of contents like tools, spares, gear, etc, but the bikes are not covered.
look into your homeowners or renters insurance. State farm to me that if my bike normally resides in my garage and it was stolen at the track or from my trailer.etc. they will pay for it. I told them its a race bike and they said it didnt matter.
Coverage is state specific....
Homeowner's insurance will cover our dirtbikes for theft while on our property, but if they're not, their not covered because they have motors and VIN's. The contents in our trailer (leathers, tools, ect.) are covered though. There is no way to get coverage for the race bike.
Dawn
Did I ever mention that I carry $600,000 worth of titanium tools in a carbon fiber tool box? Boy, I hope no one steals them....
QuoteDid I ever mention that I carry $600,000 worth of titanium tools in a carbon fiber tool box? Boy, I hope no one steals them....
So that's why you can't afford to race, you're in hock to Snap On tools! ;D
i believe that any owner of snap-on or mac or the other big name tool companies are in hock to them .. i know i am. the prices we have paid for some of these tools.. i could have bought a new race bike for what i have tied up in tools and have a few friends that could have bought really nice cars for what they have. boy are we suckers.
man.... i did a quote on an sv650s. cuz im 16 the price is 3,750 a year. yay....... then out of curiosity i put in my 46 year old dad and his would only be 64 a month. big gap there.
Himmm......
I remember driving at 16.......
I'm now 38.....
There's a reason for the different in rates. ;) Although it's pretty painful when you're young.
Dawn ;)
QuoteI tried to insure my racebikes for theft/liability but my current agent said that they would not insure them. I was able to get additional insurance on my trailer, but if the bikes get stolen, I am SOL.
Talk with a different agent. My STate Farm guy said they will insure OHV (off highway vehicles, ie dirt bikes, race vehicles) for theft and damage when NOT involved in competitions. They insure race cars here all the time.
When I was 16 I bought a brand new Yamaha DT175 ($999). Insurance was less than $100 per year (ISTR something like $60).
The size/type of bike can have a significant effect on your insurance rate.
QuoteWhen I was 16 I bought a brand new Yamaha DT175 ($999). Insurance was less than $100 per year (ISTR something like $60).
I didnt know Yamaha Built DT175's in the early 40's Brian. ;D ;D ;D
When I bought my race bike I tried to insure it for theft only but they told me they don't insure race bikes. I tried to explain that its just for theft but they were being stupid. So I waited a couple months and called about insurance on a GSXR and it was only $9/month for full coverage so I just did that. It was the only way to get theft, and its so cheap that I would have been stupid not to.
-Nick
Check your policy, some require that the vehicle is registered - it has a valid license plate.
Mine are insured for theft only, like in the trailer or in the gargage. Makes sense to me... ;)
I can't remember that far back. Was I ever 16??