Theft/Casulty insurance

[Eddie#200]

There are companies that will write a policy for the trailer, equipment and bikes for when you are traveling to and from the track.  When on the track it doesn't apply.  If there is a crash on the way to or from a race, or if you get home and are too tired to unload the trailer, to wake up and find it stolen... it's covered.

Not eapensive either. ;)

[bweber]

If you plan to rely on Homeowners Insurance to cover "the rest of the stuff" you might be in for a disappointment.  I know from personal experience.  Here is the short version of the story:
In October of last year, I left my truck unlocked in my driveway and someone helped themselves to my gearbag, cell phone and a few other things.  Luckily my leathers were not in there but I lost my helmet, gloves, boots, etc.  It was about $1800 worth of stuff.  I called my State Farm Insurance agent (aka my father-in-law) and told him about the theft.  He entered all the info into his computer, got a claim number and told me I'd be getting a call from the "regional office".  The call came and a package was mailed to me.  It needed receipts and pictures of everything along with dates of purchase for everything because the price is pro-rated for items over a few months old.  For instance, my $400 Arai helmet that was 1 yr old probably would have only been worth $200.
Well, since my cell phone was covered under a insurance policy through the service provider, and my deductible was $500, and everything was going to be pro-rated to near 50% of its retail value, I figured the $600 or $700 I would get was not worth the claim, so I closed the claim with no money paid out to me.
A month later in November, the third satll of my garage was broken into when someone used a pry-bar to open the overhead door.  They stole my air compressor, a new set of GSXR race bodywork, a new My-Chron 3+, a few tools, a set of take-off dirtbike tires, a folding ramp, some new dirtbike parts in a box (grips, piston kit, etc).  They left two Ducati 996 streetbikes, a stack of roadrace tires and rims, lots of high prices tools and other high price items (it was obviously neighborhood kids).  The loss this time was over $4000, so I called my father-in-law again and he said, "We can make the claim, but State Farm will immediately drop you".  I was stuck and he was right.  Two theft loss claims in a month would mean no more insurance and difficulty finding anyone to write a new policy since all insurance companies are hooked to the same nationwide database.  Also, State Farm and a few other companies are not even writing new policies in this region of the country even for claim-free applicants!
The moral of the story is that 1) insurance companies are the biggest crooks around, 2) you are at their mercy, 3) you will never get back what the item was worth, and finally 4) a claim follows you for about 5 years and makes it difficult to get new policies.  Forget about trying to get money for "all prep work".  Never going to happen!
I got nothing from my homeowners insurance after being claim free with about 7 vehicles, several life insurance policies, several jewelry policies and all my other insurance needs in their control even though I had losses of about $6000 total.

[OmniGLH]

I've got State Farm and I've never had a problem insuring my racebikes as "theft only."  Heck, as a matter of fact, on my dirtbike ('02 CR250), I had full coverage on it!  (Had a loan out on it, and my credit union required it....)  Once I paid it off, I dropped it down to "theft only" without any issues.  But my racebike was (until I put it back on the street last week) covered as "theft only".  Didn't have any problems.

[sdiver68]

I have my racebike fully insured.  Get this though.

The insurance company tells me that if the bike is being trailered, it is collision insurance on the bike that would get it fixed, not comprehensive....Hmmm?  And thus the bike requires liability insurance, in case it hit someone else while being trailered!  And to top it off, my company just started a high performance surcharge!  What, a trailered GSXR is any more high perfromance than a trailered Harley?  WTF?!?  

[Jeff]

What, a trailered GSXR is any more high perfromance than a trailered Harley?  WTF?!?  

A GSXR mouse pad is more high performance than a trailered Harley...