Rumor: Himmelsbach truck flips on I95.

[spyderchick]

Could you insure it under a business clause, not for collision or crash damage, but in case of theft? I'd check around on that.

[Lowe119]

They specifically ask if it will be used for racing.  

Is it different if you just use it for track days?

[KBOlsen]

There is a company (I believe it's Ace Insurance Services) that will insure your racebikes, your tools, your trailer... everything.  The only thing they don't cover is on-track damage.

Problem is, it's not inexpensive.

[Jeff]

Is it different if you just use it for track days?

Talk to your insurance company.  Mine would cover me for "non-competition training events".

[Woofentino Pugrossi]

SOme do, some dont. Can even vary from region to region with the same company. YOu have to ask your agent. Anything in my trailer is convered by the trailers insurance and the trucks insurance. Then again, my insurance is set up to cover me with anthing I drive from a $500 clunker to a $1.5mil Mclaren F1. ;D Gotta work with your agent.  ;D

[OmniGLH]

Most insurance companies define racing as a "timed event."  Roadracing is timed.  Drag strip is timed.  Those events generally aren't covered.

A track day or school isn't a timed competition, and therefore, is usually ok (check with your ins. co. to be sure.)  I know one guy who totalled his Mustang out at a track day at Road America (lost it in the kink... oops!)  Since it was a track day, they covered it.  They also promptly dropped him at the next renewal date.

I have my R6 fully insured - though I'd never make a claim against it unless it was stolen.  I turned my bike into a small little ball at VIR last year, and it was still cheaper for me to fix it out of my pocket (thanks ebay!) than it'd be for me to have the insurance co do it and then jack my rates.

[davegsxrold929r]

Well, sure..  however, when they find out that it is a racebike (which is a HIGH possibility in my case), I end up getting nailed for insurance fraud.  

They specifically ask if it will be used for racing.  

then nothing you can do there.,

i was more thinking for theft.,

[gma]

Glad Mike and the gang are OK - tough break, but I don't expect Mike to take this lying down - he'll be back.

I've seen insurance work a number of ways. Here's one that might work.

If your racing entity is incorporated as a marketing corporation - one that provides advertising tangibles for paying clients, then the bike and everything connected with racing can be considered business tools. These can possibly be insured this way. There are more details than that, but that's all I'll offer here.

Also, remember - insurance companies make money by not paying out. They are one of the most profitable industries in this country. There are a multitude of instructions, policies and procedures that issuers follow to keep this true. There is a craft to collecting enough money to remain profitable, but clausing out or 'failing to mention' things like a $55 premium that would prevent such a huge loss to the company. Have no fear of bearing down on your carrier - present them with 'what if' scenarios to explore what would and would not be covered in 'hypothetical' situations. As much as I hate insurance companies, I hold the belief that it's better to pay them up front and to make sure that each party understands what 'the deal' is.

Here ends the reading ...