Insurance for Track Days

[Bitani]

I've been looking around, as I'll be taking my bike to the track next year, and I'm trying to find an insurance company that will insure a bike on the track. It appears that this is something that varies GREATLY between companies.

Does anybody know of any insurance companies that do insure bikes for track days?

[e-flores]

Most insurance companies do to an extent. I know a few people who have wrecked teir bikes at the track and told the insurance companies what truly happened and got everything replaced fine and dandy. But if all else fails find a ditch on the way home from the track and place the bike in it take a few pictures and ta da!

No but really just ask your insurance company if they cover the bike under any and all circumstances including track days.

[John]

what kind of insurance? liability? comp/coll? are you worried about crashing? theft?

for some ins. companies non-competition and rider improvement courses may be already covered. go read your current policy, you may already be covered.

[redkow97]

few will cover "timed events," and will argue that a track day counts. Obviously there's a convincing argument to be made against that, but it's you versus an insurance company and their team of lawyers.

Assuming you DO convince them to cover your damages, they will almost certainly drop your coverage immediately after.

If the bike "falls off the trailer" on the way home, you will be covered, but you will also be committing insurance fraud, a felony of the fourth or fifth degree, depending on the value of your bike and how much damage is done to it.

That would likely get knocked down to a first degree misdemeanor for a first-time offender, but the fact remains, it will be VERY difficult to find an insurer for many years, and it will be oppressively expensive when/if you do.

While I'm not in the "don't take anything to the track that you don't mind leaving there" camp, street bikes make for expensive crashes. Prepare for that possibility before you register.

[Bad324]

If you can't find someone I'll put you in touch my with guy. Most if you call it "performance riding instruction" you can get away with

[Disclaimer]

Or, if you wreck at the track, pay for the damages yourself and just chalk it up to the cost of playing with your big boy toys? Seems pretty simple.

[Bitani]

Or, if you wreck at the track, pay for the damages yourself and just chalk it up to the cost of playing with your big boy toys? Seems pretty simple.

I'm willing to do that if all else fails, but if there's a cheaper alternative I'm always open to it. Plus, I currently don't have any collision. If there's a chance of adding collision going to the track days as well, it's a double win.

If you can't find someone I'll put you in touch my with guy. Most if you call it "performance riding instruction" you can get away with

Yeah, I figure it's all about the wording. I'll ask my insurance company beforehand. Should I call it a track day while asking? "Performance riding instruction track day"?

[Bad324]

nope....hell don't even say its performance. Suggest to them you are taking an advanced instructional riding course on a closed private track

[Disclaimer]

I'm willing to do that if all else fails, but if there's a cheaper alternative I'm always open to it. Plus, I currently don't have any collision. If there's a chance of adding collision going to the track days as well, it's a double win.

Think about this for a minute, hypothetically... lets say you can get collision AND trackday coverage for an extra $500/yr with a $1000 deductible.

vs.

Nothing.

Unless your last name is Rossi, DiSalvo, Hayden, or Stoner, you'll likely keep it upright and have fun at the track. So, the cashflows breakdown as follows if you GET insurance.

Y1: -$500 vs. $0

Y2: -$500 vs. $0

Y3: -$500 vs. $0

Now, let's say you lowside at the top of the keyhole at MidO in Y4. Plastics and new controls run you $2500 from the OE.

Y4: -$1500 + $2500 vs. $-2500 but all added up, you've already "donated" $1500 to the insurance the prior years, so all in all, you're still $-500 in the hole with insurance using that hypothetical situation.

Not to mention if you claim it on your insurance, a $2500 accident may likely 'total' a 2003 Kawi, so you won't have a clean title anymore which makes resale value plummet. And now YOU have a claim on your insurance record which may or may not affect your rates.

Point being, you should probably do some calculations based on the adjusted new premium and deductible they're quoting you to see if it's really worth it. Insurance may be worth it if you wreck your bike soon after you get it, but not so much later.

[J_Copeland]

My State Farm agent says they will cover my street bike as long as I'm not racing.

As far as my just track bike,they won't insure it !

[Bitani]

nope....hell don't even say its performance. Suggest to them you are taking an advanced instructional riding course on a closed private track

I like that better. All about the talk, right?

Think about this for a minute, hypothetically... lets say you can get collision AND trackday coverage for an extra $500/yr with a $1000 deductible.

vs.

Nothing.

Unless your last name is Rossi, DiSalvo, Hayden, or Stoner, you'll likely keep it upright and have fun at the track. So, the cashflows breakdown as follows if you GET insurance.

Y1: -$500 vs. $0

Y2: -$500 vs. $0

Y3: -$500 vs. $0

Now, let's say you lowside at the top of the keyhole at MidO in Y4. Plastics and new controls run you $2500 from the OE.

Y4: -$1500 + $2500 vs. $-2500 but all added up, you've already "donated" $1500 to the insurance the prior years, so all in all, you're still $-500 in the hole with insurance using that hypothetical situation.

Not to mention if you claim it on your insurance, a $2500 accident may likely 'total' a 2003 Kawi, so you won't have a clean title anymore which makes resale value plummet. And now YOU have a claim on your insurance record which may or may not affect your rates.

Point being, you should probably do some calculations based on the adjusted new premium and deductible they're quoting you to see if it's really worth it. Insurance may be worth it if you wreck your bike soon after you get it, but not so much later.

Interesting perspective. Insurance is just a 'promoted' "You need this" sort of thing in my mind at this point, I suppose.

I'll think on that more.

My bike was $3,000 and if I were to get raised insurance, I'd go straight for the $100 deductible. Right now, at 17 years old, I've already been quoted $195/month for that. (vs. $60/month right now.)

So each year, that'd be like $1,500 more just in insurance. 2 years, I could have a new bike.

The only problem I have is that I like the fact that the insurance would ALSO cover daily riding as well. Assuming it covered track as well, that'd be a double win.

I'm going to assume the BEST option would be to get a dedicated track bike if I could afford one. But at this point, I can't.

And plus, from what I've read, crashing is VERY typical at track days. Do you really think, as a new rider, I'd be able to stay up throughout a whole year of track days? (Not a rhetorical question. I'm actually curious.)

[RVTPilot]

My State Farm agent says they will cover my street bike as long as I'm not racing.

As far as my just track bike,they won't insure it !

Been told the same from SF as well. The kid that just bought my 750 had Allstate, and wadded up his 08 CBR 600 street in the novice class at VIR. They cut him a check for the damages as novice was considered an instructional class and not competitive, but I would suspect he'll not insure a bike with them any time soon. If you're only doing a novice day here or there and want to stay dual purpose, roll the dice I guess. Anything more just find a dedicate track whore that fits the budget and ball out. Any repairs are just the cost of doing business. We don't enjoy a cheap hobby.

[madcat6183]

I have 0 to add to this thread other than I miss all my race buddies. When can we spoon?

[blue03636]

I have 0 to add to this thread other than I miss all my race buddies. When can we spoon?

Putnam next weekend? Oh that's right you're being a dbag.

[blue03636]

And plus, from what I've read, crashing is VERY typical at track days. Do you really think, as a new rider, I'd be able to stay up throughout a whole year of track days? (Not a rhetorical question. I'm actually curious.)

Crashing is up to you, I have 3 in 8 years.

[rubbersidedown]

nope....hell don't even say its performance. Suggest to them you are taking an advanced instructional riding course on a closed private track

Second this but use location or course in lieu of track. Moto Series gives out certificates at the end of a Novice day that help you in such a situation. The wording gears it toward skills enhancement.

Think about this for a minute, hypothetically... lets say you can get collision AND trackday coverage for an extra $500/yr with a $1000 deductible.

vs.

Nothing.

Unless your last name is Rossi, DiSalvo, Hayden, or Stoner, you'll likely keep it upright and have fun at the track. So, the cashflows breakdown as follows if you GET insurance.

Y1: -$500 vs. $0

Y2: -$500 vs. $0

Y3: -$500 vs. $0

Now, let's say you lowside at the top of the keyhole at MidO in Y4. Plastics and new controls run you $2500 from the OE.

Y4: -$1500 + $2500 vs. $-2500 but all added up, you've already "donated" $1500 to the insurance the prior years, so all in all, you're still $-500 in the hole with insurance using that hypothetical situation.

Your missing a HUGE consideration, what if you get hurt and go to the hospital? IMO, insurance is the way to go.

My State Farm agent says they will cover my street bike as long as I'm not racing.

As far as my just track bike,they won't insure it !

Second this, I know two people that wrecked on the track and totaled the bikes. State Farm paid the bills except for deductables and leathers. One went to the ER and had to have surgery, all covered.

As far as a track bike, keep it registered and plates current (although not on the bike) and they won't know the difference.

[Disclaimer]

If you go to the hospital on a trackday, that's what you have personal health insurance for :confused:

Medical payments coverage from your auto/bike policy is an even bigger scam than the policies themselves if you're like most people with personal health insurance.

If you don't have health insurance, you probably shouldn't be doing trackdays or riding a motorcycle on the street in the first place.

[Bad324]

If you don't have health insurance, just call Obama he will hook you up

[granda080]

If you go to the hospital on a trackday, that's what you have personal health insurance for :confused:

Medical payments coverage from your auto/bike policy is an even bigger scam than the policies themselves if you're like most people with personal health insurance.

If you don't have health insurance, you probably shouldn't be doing trackdays or riding a motorcycle on the street in the first place.

I thought that if you go to the hospital due to a car/bike accident your vehicle insurance is going to get charged for your expenses, not your personal insurance.

[blue03636]

I thought that if you go to the hospital due to a car/bike accident your vehicle insurance is going to get charged for your expenses, not your personal insurance.

Not on the track as your car/bike insurance doesn't tend to cover it.

[granda080]

Not on the track as your car/bike insurance doesn't tend to cover it.

Right. But your personal doesn't want to cover it either because they would view it as an auto accident and say your auto insurance should cover it. Does that sound abut right?...out of pocket and broke forever lol

[blue03636]

Fell out of a tree?

[Disclaimer]

I thought that if you go to the hospital due to a car/bike accident your vehicle insurance is going to get charged for your expenses, not your personal insurance.

Yes, your vehicle insurance will cut a check to whatever value you're insured to -- that is correct. Caveat being the insurance only cuts the check if the accident is your fault, or if the other driver is underinsured, but otherwise the 'at fault' party (read: the other person) pays in Ohio via the Liability coverage -- not in all states, but in Ohio.

So, med. coverage is basically covering you if it's YOUR fault (and if you review your policy, it's typically a very low amount -- 4 digits maybe? -- that won't even put a dent in a bill for an extended stay at a hospital; therefore, pointless.)

I guess I see it as, if it's my fault anyway, my personal health care will pick up the bill less any deductibles I have vs. giving the automobile insurer extra money for something they really don't have any business in and dictate the terms to -- they are not health insurers.

Right from the Progressive website

Medical Payments (MedPay) Coverage MedPay is an optional insurance coverage that pays for reasonable and necessary medical and funeral expenses for covered persons. These expenses must be incurred as a result of an auto accident.

I've highlighted the important part in red. I'm already covered for ALL medical and funeral via my Health and Life Insurance plans, why double/triple cover myself on an auto policy too that only pays if my medical bills are incurred in an auto-related accident?