For those of you that ride on track only
 

For those of you that only ride on the track, do you insure your bike?

I ride both but have a dedicated track bike that I do not have insured.

I've talked to my insurance company about track bike insurance....and they said that they could place it under the kind of policy they have for 4-wheelers......where they assign a value for theft only, but damage at the track would not be covered. This is State Farm BTW, and the bikes I've asked about were ones I couldn't get a title for or were salvage titles.

One track org up here classifies themselves as a school so Ihave heard you could get money back if you crashed because its instructional. Never realy looked into it though.

interesting

You can't insure a track bike here (even for theft only).

My bike is both street and track and I carry full insurance.

I've heard this as well. And that if you do go down on a "track day" just tell them it was a school. Don't know if it is true or not. I have full coverage insurance and just pray I don't go down.

What he said... I don't insure my race bike
Also correct...

If you do track days with your street bike, your insurance agent will PROBABLY tell you that you're covered if something happens if you use the educational, non-competitive environment approach. It doesn't have to be labeled as a school. The organization I work for explicitly says that we're not due to liability reasons, but our customers haven't had any problems that I know of with insurance after a mishap..... but absolutely consult with your agent to find out for sure as everyone's insurance carriers are different.

Now if you're only doing track days with a dedicated track bike, you MIGHT get away with doing the same, but again, you'd really have to consult your agent.

Me, I don't bother, as I said. I pitched my SV down at over 100mph early in the season & repaired it outta pocket. If I insured it and claimed damage, I'd probably be paying a LOT more in premiums than I do in repairs at this point.

Since technically I dont ride street anymore, I figured I might chime in. I keep mine insured, and while I paid for my repairs out of pocket when I crashed, most of my buddies claim "educational" course and the insurance companies pay out for their repairs.

That is making less sense by the minute...lol Track orgs make you sign a wavier that you are not responsible for anyone else's bike, nor their person. So..if you're not claiming it on your insurance, then why cover it?

1) because I am still paying on it and its required
2) because if I do crash and it will cost more than my deductible to repair, I can use the insurance
3)if I do take it out on the street, since it is legal, and I get my ass run over, its better to keep the insurance on it rather than let it lapse or reget it every time I decided to street it
4)its a personal choice and doesnt require your approval or make sense to you :wink:

I don't insure any of my bikes.

Because she is only trying to be covered for a total loss like theft or a major crash. You obviously don't want to stroll into your insurance agents every month or so with $2,000 and under claims. Besides, she may still have a loan on the bike which would require full coverage. Make any better sense now?

Oops I didn't see your post Rae...

Yea what she said!

The only thing that insures my "off-road" vehicle would be my home-owners ins in the event thieves get around my garage door and 15 hollow point rounds.

IIRC State Farm allows coverage for non-timed track events. Ditch the laptimer and you should be covered.

My track bikes are all street legal and I have full coverage on them, but I haven't had a crash on the track that required major repair.

double check your homeowners - ours will NOT cover vehicles with motors even stored in our garage, even the off road bikes. I have to have moto insurance to cover any of our vehicles - bikes/cars/quads, if it has a motor...it's not covered.

Nope.

Yup. Homeowners insurance won't cover any vehicle that has wheels - there is usually a stipulation about vehicles that are being worked on and without wheels. Their idea is that if something happens it can be removed from the garage "easily". So, if it's on blocks with the wheels off - you're covered. Othewise, SOL.

Our track bikes are covered as assets to the business under my track policies.

Any of our street bikes have always only had the state required liability coverage.

It's covered.

Homeowners covered my bicycle when I drove over it with my truck :wtfru:

FYI.... State farm makes you have a separate policy for anything with a motor and wheels.

If you have a race car, 4 wheeler, or race bike that does not see the road they have to have a separate policy or they're not covered under homeowners.

I would never claim a crash on the track unless it was a street bike. If it's a track-only bike, I don't agree with claiming it because it just drives up costs for everyone. The purpose of giving you a break on "educational events" is so that you gain more experience so you're safer on the street. But if you're not riding on the street anymore, nobody benefits from your increased skill. I guess you could argue that you're making yourself a better track rider, but that's not what the company had in mind. On the track you're deliberately pressing your limits all the time, whereas on the street you might only do that 5-10% of the time. Big difference.

You insure a track bike in the event of a fire, flood or theft....not due to crash

Right but some people decide to drop out of street riding and convert their bike to track-only, while still keeping the same coverage on it. And then they claim cash damage on it. Not too big of a deal really, but I don't agree with it.