Insurance for track bikes?

bossman2022

New Member
I have turned my S1000RR into just a track bike as I don't plan to ride it on the street anymore (have a Multistrada for that). I plan to unregister it so I don't have to worry about getting it inspected for street riding each year and ditch the number plate, but what do folks do for insurance? I have insurance on it when I first got it as I did ride it on the street to get used to it before hitting the track. But now it is track only. I called my insurance (progressive) and changed it to off road use only so cannot ride it on the street anymore, but it was only $15 a month less.

So wondering if insurance is even worth it for riding on the track, or if my money is better off being saved for repairs if/when I lay it down? Or are there other companies that have better insurance for track bikes? The policy I have for the track bike is overkill for sure, so I need to change it so any suggestions are welcome.
 

bmart

Control Rider
I have not taken this path, but from what I know, as long as they are track days and not racing/competition, your insurance company is likely to view them as training events and cover them. You should ask them and get an answer in writing. Know that if you have to use the insurance, your rates will likely go up (could be significantly). This is one of the main reasons I always have old bikes that don't cost a lot and with parts availability at very low prices. IMHO, the big $/concern is medical, not hardware.
 

bossman2022

New Member
I called progressive (who I have my insurance with) and they said they do not cover motorcycles on the track, so I canceled the policy I have since apparently it won't cover anything anyway. The insurance on the S1000RR for the street was WAY higher than the Multistrada anyway. My insurance agency is looking around at other policies. Hagerty might have policies that cover track usage, so we will see. Otherwise I will just cover the expense myself and like you said, medical is the biggest concern anyway and my health insurance will cover that.
 

HondaGalToo

Control Rider
Most companies have stopped covering any closed course activity. It used to be they wouldn't cover racing, but as bmart said, they used to view track days as "training" and would cover it. They've since "wised up" and won't cover anything on a closed course. I dropped it a long time ago. If I had a newer bike, I'd maybe look into coverage for theft.

The other issue, at least in NJ, is that if you put in a claim for a track incident, they'd either raise your rates (I have a street bike, too) or just drop you.
 

bossman2022

New Member
Yup. Just going without it. Might look into theft coverage.

The silly part is they will insure someone on the street on an S1000RR and the likely hood of major damage to others and property is sky high there! Lol.

But yep, I wanna ride on the track so I will assume the risk.
 

D-Zum

My 13 year old is faster than your President
About the only other way to flush well earned money away is to get divorced.

Ironically, both that activity and this one offer us each a tremendous feeling of freedom. Both are equally and completely worth every cent.

Insurance companies and any company exist to make money. Putting an insured asset on a race track is an Actuary’s nightmare. And they’re really not covering your bike on public roads to cover the bike. It’s to cover your liabilities when you fuck up on said bike in public roads. They’ll happily total your machine for a scratch on the frame.
 

Motofun352

Control Rider
I'm too lazy to do the research for bikes on the track. A friend coaches corvettes on the track and spends $400 for a weekend's worth of insurance with a $1000 deductible.
 

Rich

New Member
I have not taken this path, but from what I know, as long as they are track days and not racing/competition, your insurance company is likely to view them as training events and cover them. You should ask them and get an answer in writing. Know that if you have to use the insurance, your rates will likely go up (could be significantly). This is one of the main reasons I always have old bikes that don't cost a lot and with parts availability at very low prices. IMHO, the big $/concern is medical, not hardware.
Medical for sure is a bigger concern. Having just crashed a month ago, my bills are reaching the $20k mark and the larger shoulder surgery is a month away, not to mention rehab. Insurance has covered little so far (high deductible health plan) but thankfully I had a nice pile in my HSA. It’s gone now and met deductible, so the shoulder surgery should hurt le$$. :)

The bike will be back in business for about $1k.
 

bmart

Control Rider
My medical was $26.5k. That's a lot of track time, tires, and training...gone. I love all of the things that the medical community can do, but I'm so bummed about the cost of insurance, unless one is on a cheap gov't plan...where I'm paying for their coverage and mine.
 

bossman2022

New Member
What do folks do about registering a track bike? When I bought it, it got registered for the road but it's only a track bike and my insurance company will not insure it (unless I say it is just for the road) but I am pretty sure the NC DMV is gonna lose their shit if I do not have insurance on it if it is registered. Do I need to file with the DMV to say it is not going to be used on the road?
 

bmart

Control Rider
I suspect that the issue for insurance is if you want to file a claim for damage done at the track (not that you're riding it on the track). I've used many registered/insured bikes at the track. If I break it at the track, I fix it. I do not register or insure my track bikes.

Some insurance companies consider track days as training, so they'll pay. Others trigger a strong no due to "closed course." It may be worth shopping around. Hagerty sells insurance for such things on cars, I think. Maybe they also do bikes? I use Erie on everything and they've been awesome for decades.

This is a big reason I use cheap bikes with a giant used parts market for track days. :)
 

MK3Brent

Treebeard
What do folks do about registering a track bike?
I wouldn't imagine they do.
If you're looking for theft insurance, you should talk to your agent about adding such a thing to your home owners or renter's insurance. My policy covers my items in my Sprinter van as an "RV". If you have a commercial policy, things like tools and whatnot in your trailer can get coverage too.
 

bossman2022

New Member
I called Hagerty a while back already and they do not insurance motorcycles (unless it's a vintage).

Yeah I think the simplest is to simply not register the bike as it won't be on the road anyway. Catch is I think the dealer has to send in the registration and then the NC DMV is gonna lose their mind as I have no insurance on it. LOL. I did ask if they simply do not send it in, as there has been an issue getting the lien released from the original owner or something they are still working on but they know it's only for the track. I just do not want the NC DMV to get their knickers all in a wad over it.
 

MK3Brent

Treebeard
I called Hagerty a while back already and they do not insurance motorcycles (unless it's a vintage).

Yeah I think the simplest is to simply not register the bike as it won't be on the road anyway. Catch is I think the dealer has to send in the registration and then the NC DMV is gonna lose their mind as I have no insurance on it. LOL. I did ask if they simply do not send it in, as there has been an issue getting the lien released from the original owner or something they are still working on but they know it's only for the track. I just do not want the NC DMV to get their knickers all in a wad over it.
If the bike is currently registered in NC, and you revoke the insurance, you'll get a notice from the NCDMV that your bike's registration is now revoked. You will also be prompted to return the tags. That should be it.
 

Motofun352

Control Rider
I was thinking about taking my corvette up to Watkins Glen for a two day trackday event. I can get 60k's worth of coverage for $600 with 6k deductable. Adding up all the other costs it came up to 3 grand for a 2 day event...ouch!
 
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