Feeler - Anybody interested in comp insurance for thier race bike?

[murf99]

First of all, hello everybody.  Folks from the MW region may recognize me from other boards, the track... etc.  A little bit of an intro - I've been doing trackdays (69 of 'em) with NESBA for 4 years, and hope to start racing sometime this year (even though I've been saying that for the past three years).

Anyway - the point of the post is Comprehensive insurance on Race/Track bikes.  I posted this up on NESBA, but we're looking for a large number of interested parties, so I figured I'd take my thoughts here.

My friend is an insurance agent, and we were talking on another board (http://www.sportbikes.net/forums/showthread.php?t=343373 - bottom of the first page) about comprehensive (theft/fire/vandalism) coverage on a track/race bike.

Bikes with salvaged titles (not rebuilt), certificates of ownership, or certificates of distruction cannot be insured under normal vehicle polacies.

However, since they're motor vehicles, they aren't covered by homeowners/renters insurance.

Also, bikes covered under road polacies will insure for the market value of the bike pluss a couple grand in extras.  I know that wouldn't even begin to cover some of the monies invested in some of the race bikes out there.

I am helping gauge intrest in race bike comp policies.  Then much friend will try pitching the idea to a couple of insurance companies, much the same to a gun or jewlery rider, and see if they're interested.

So, please post up if you're interested. Also, please state what you might wish to insure your bike for (bike value), and your willingness to pay for a yearly policy.

I'll start - I'd insure the 600RR at $7.5 (bike, exhaust, suspension work, stock motor), with $1k of spares. I would probably be willing to pay $150/yr.

Thanks all,

Todd Murray
NESBA 911A
Too slow/chicken to race

[spyderchick]

It sounds like a good idea, but as insurance companies are not too willing to cover something like "my race bike fell of the trailer" without a police report, you might want to see if you can pitch it mostly as theft insurance. I think this is where insurance companies really fall down, although I know of a few cases where the companies did cover it under homeowners.

Good luck with the project.

[jgalt187]

Only interested if it covers crashes!

[Court Jester]

Only interested if it covers crashes!

+1

[L8brake731]

Some of the car policies cover loss to your possessions including what you might be towing, depending on who you're with.
Like Alexa said, it's about the "falling down" part.
Sounds like it might be a bit too sticky, especially in regards to single vehicle or multiple vehicle occurrences (on the track).

Although, you never know! I'd be interested if you can swing it.

[murf99]

I guess I didn't state this explicitly in my original post, but...

This policy would NOT cover anything on the track (crashes and whatnot).  As I understand, any claim for theft/vandalism would need to be accompanied by a police report.

Though, I can certianly understand the "Damn, my bike got stolen from my trailer at Hardees on my way back from the hospital to cast up my arm after that brutal highside..."

[Court Jester]

Though, I can certianly understand the "Damn, my bike got stolen from my trailer at Hardees on my way back from the hospital to cast up my arm after that brutal highside..."

would that work???
i may be in after all.

[PaulV]

Not a bad idea Todd,

after having one of my snowmobiles stolen a couple of yrs back I can tell you there is merit to some kind of coverage.

Paul
Polar-Optics
#79

[Super Dave]

I'm really interested.  $150 would be of great value if my bike was wrecked if my trailer were hit, or my trailer were stolen, etc. 

[Warrant R6]

I would be interested as well. If i lost my bike to fire/theft/vandelism, i would be crushed.

[Jason748]

Hey Todd,

I'd be interested, especially considering a couple years ago I had my trailer broken into, luckily they they only took my tool box and generator, but it very easily could have been my bike.

I think $150 a year would be worth it.

[RCR_531]

I would be in too