Theft/Casulty insurance

[Jeff]

Anybody have this on their racebike?

I spent the last few hours arguing with my insurance company over it, and they flat out won't do it, and claim that likely no other insurance co will either...

Jeez, I can insure ANYTHING else in my posession against theft, except this bike...

[Litespeed]

My dirt bike and race bike are both covered on a comprehensive only policy.  If the bikes are stolen or burn they are both covered and I think I pay about 74 bucks a year for both.  I'm using Country Companies if that's of any help.

[Dawn]

That's the risk we take with our race bike too.  Anything else we can cover with our homeowner's insurance, but the bike - because it is a motorized vehicle - is not covered.  Auto insurance does not want to cover it because it is used for racing.

So.....  If your bike is wrecked or stolen, you are SOL.

Dawn   :-/

[Nate R]

http://aceinsuranceservices.com/

I've seen ads that they do this. Looks like they'd do bikes and trailer, and maybe even accs like wheels, generator, warmers, etc.

[Jeff]

hell, the trailer, spares, generator and everything ELSE is covered!  I just can't get coverage for the bike itself.

I argued and argued...  
them "It has a motor, it must be insured as a vehicle"

me "so does my lawnmower, but it's coverd"

them "but your lawnmower isn't capable of being registered and driven as a street vehicle"

me "neither does my racebike"

them "it must be insured as a vehicle, end of story, and we will not insure this type of vehicle".

me "you people suck"

click

[lokisdog]

I have basic liability and theft. The basic liability is very cheap, and will never be used on the race bike, but it's req'd so I can get the theft coverage.

I also upped the theft coverage to add on "aftermarket accessories" to the tune of $3K. That should cover not only replacing the bike but the shock, fork work, etc. I think the whole thing is around $300 a year from Progressive.

I don't think anyone will offer collision on a racebike without charging you an arm and both legs.

- Eric Arnold
AM #25 Pac

[Jeff]

That's my deal.  I don't want collision, and don't expect it.  I don't need liability, but would pay it to get theft.  And the ONE question that is asked at the onset of every new policy is "is this vehicle used in any type of racing"...

And as for everything else, if the bike disappears, every thing else will simply be "parts stolen" and will be covered under my home owners policy including all prep work and after market parts...

[KBOlsen]

I just got off the phone with my "friendly State Farm agent".

If you already have stuff insured with them, you can purchase a comprehensive-only policy for around a hundred bucks.

HOWEVER

If you have a claim and they find out the bike was used for racing, you're screwed.

I spoke with Ace Insurance back in the beginning of the year.  They'll cover all your stuff (bike, tools, trailer) but IT AIN'T CHEAP.  On the other hand, they will cover almost any off-course incident (damage in the pits, etc)

[Jeff]

The logic in this completely eludes me...  I wish I could understand how I can insure anything EXCEPT the bike...

I'm not sure what makes it any different from my gas grill, trailer, lawn mower or my wife's jewelry (all of which is insured)...

[KBOlsen]

It makes about as much sense as having to purchase liability insurance for every vehicle you own.

Example:

I am one person.

I own three cars.

Nobody else drives my vehicles.

I am only capable of operating one car at any given moment in time.

Why can't I simply purchase a personal liability policy to cover ME when I drive, period... no matter WHAT I drive?

[Litespeed]

Like I said above, my insurance company had no problem insuring my race bike and my dirt bike.  My brother had his dirt bike stolen and was issued a check for it without much hassle in a timely manner.  It looks like you may want to shop around for a different insurance company...

[Woofentino Pugrossi]

My SF agent said they can cover racebikes/cars for theft only. Still yet to get a quotes for it. Lots of people locally have their racecars insured against theft. Being theres 5-6 tracks within a 75mile radius, race car theft is not uncommon around here.