Insurance that covers trackdays?...

[Squidward]

Shame on me, I had GEICO in UT and they covered it if it wasn't a competitive or timed event. I moved to PA and didn't check the exclusions. I dumped my shiny new S1KRR @ NJMP on the 2nd. If you're on a closed course, you're on your own.

Does anyone know of an insurer PA/NJ that still covers track days?

I got off cheap this time with <$2k in parts. But I'm not so sure I want to risk it again without some coverage.

Thanks!

 

[Backmarker]

First rule of thumb .....

Don't take anything to the track your not willing to throw in a dumpster at the end of the day....


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[HondaGalToo]

Most insurance companies have stopped covering any closed course riding, racing or not. Try calling around and ask if thy cover non timed events on a closed course.

 

[D-Zum]

First rule of thumb .....

Don't take anything to the track your not willing to throw in a dumpster at the end of the day....

What Mr. Tim said.

Also, Something I've always encountered....

I have this bike...I absolutely LOVE IT. But, to ride it in a way to enjoy it's capabilities more, is completely illegal on public roads....so what to do?

It's a whole risk/reward thing.

Plus, you find an insurance company that will provide the coverage you seek. Yes, they're going to cover you .....ONCE, then it's either the end of your policy, or
they jack your rates up through the roof. Is that REALLY worth it?

 

[HondaGalToo]

What Mr. Tim said.


Plus, you find an insurance company that will provide the coverage you seek. Yes, they're going to cover you .....ONCE, then it's either the end of your policy, or
they jack your rates up through the roof. Is that REALLY worth it?

Very true. A friend crashed her bike at a trackday. At the time, State Farm in NJ was covering trackdays as non-timed, rider education events or some such. They covered it, but canceled her coverage very soon after. I don't believe SF still covers trackdays in NJ. And yeah, the amount your insurance would go up, etc., etc., probably cheaper just to rebuild yourself.

 

[Squidward]

Whelp, time to fix her up and sell it. Not chucking $20k down the track again w/o insurance.

Guess I'll be in the market for a track bike...

 

[ninjamansc]

To my knowledge, there are no longer any companies that cover track days. A couple years ago I had a 2014 Zx10r under Rider Insurance. At the time, they covered track days. And I filed a claim as such. Shortly after, they sent a letter out that said they would no longer cover track days. So I believe I was the last crash at a TD for everyone.

As has been said before, don't take anything to the track that you're not willing to throw in the dumpster before the day is done.

If you ride smart, and just ease out of your comfort zone, be smooth on the controls, and don't do it on cold tires, there really shouldn't be anything to worry about.

Sent from my SAMSUNG-SM-G920A using Tapatalk

 

[Louber]

Whelp, time to fix her up and sell it. Not chucking $20k down the track again w/o insurance.

Guess I'll be in the market for a track bike...

I feel your pain. Would love to sling my street bikes around Pitt Race, but would cry if anything happened to them. Fortunately Craigslist is a paradise of used supersports. Especially in October! Seems like there are some solid deals on the classifieds here as well.

Happy hunting!

 

[D-Zum]

Whelp, time to fix her up and sell it. Not chucking $20k down the track again w/o insurance.

Guess I'll be in the market for a track bike...

Why sell? Just keep it for the occasional street ride. There's some fun to be had on a nice backroad run on a Saturday or Sunday still.

Find a 600 and use that on the track. You'll learn more and LOVE it!

 

[Mike:p]

So do you guys keep any insurance on your bikes? Like for fire or theft?

 

[bmart]

I do not. It is why I buy cheap bikes that work well and don't put a lot of "fancy" parts on them.

 

[HondaGalToo]

So do you guys keep any insurance on your bikes? Like for fire or theft?

Nope. It's 10 years old and track only. No registration/insurance of any sort.

 

[mpusch]

I do. I hate the idea of having the bike stolen and having nothing to show for it. Liability and comprehensive is like $20 a month for me, which is worth it in my opinion.

 

[wmhjr]

No insurance for mine.

 

[Mike:p]

I do. I hate the idea of having the bike stolen and having nothing to show for it. Liability and comprehensive is like $20 a month for me, which is worth it in my opinion.

Does your insurance cover your bike with its track parts/options? Or just what it's worth in stock street form? For example if a bike is worth $8000 fair market value if you were to sell it to someone that would use it on the track but it would only be worth $4000 in stock form on the street.

 

[wmhjr]

The answer to that question is a bit murky...... My experience is that many bike insurance companies permit adding on predefined dollar amount of "extras" or "modifications" to the policy, which in theory covers some of that stuff. But you have to be careful. That still makes it a "stated value" policy, and the insurance company is NOT obligated to actually pay back the amount you specify. They might - they might not. This is different from an "agreed value" policy (which is what most "good" collector car policies are) which have an "agreed upon" value that has been validated in one way or another up front - and you're effectively guaranteed that much in the event of theft. I've never ever seen an "agreed value" policy for bikes other than some real collector bikes, like early 1900s true collectors. I've heard stories of people having track bikes stolen and only getting book value for the bike at best. And when they tried to convince the insurance company of the "track modifications" it only made the insurance company balk more, as they're not in the business of insuring racing bikes. You're actually better off in your home with documenting the heck out of it and having it on your homeowners policy IMHO. The "extras" part I mentioned first is really geared toward the cruiser market with aftermarket exhaust, etc. That's what they're most familiar with.

 

[Louber]

I have my CBR registered, insured and inspected. Though after a season of trackdays, I doubt I'll street ride it ever again.

Will likely keep insurance on it for theft/fire/etc but probably won't renew inspection or registration.

 

[HondaGalToo]

I'd considered just insuring for theft, but I don't think anyone in NJ does just theft. Not sure if they'd do it on an unregistered vehicle. I didn't look that closely into it. Now that the bike's 10 years old, meh.

 

[Motofun352]

. I've never ever seen an "agreed value" policy for bikes other than some real collector bikes, like early 1900s true collectors. .

I have an agreed value policy on my "antique" bikes including many from the 70's and 80's. As long as the agreed value is reasonable (less than $8k if I remember correctly) they don't even need an appraisal. Photos are required and the vehicle needs to be registered as an antique or classic. It won't work if the bike is a junker. I'll add that it's a full coverage policy and very reasonable pricing though mileage is restricted...I don't see how they can oversee the mileage, but at 2000 miles a year that's not ever been a problem.

 

[wmhjr]

Jack, I have an agreed value collector policy on my '66 GTO. You're right in that if the value isn't that much, photos and whatever documentation you have is sufficient, and no appraisal is required. The higher the agreed value, the more likely it is that they'll require appraisal. They also automatically increase the "agreed value" every year. Policy premiums are very very reasonable - however there are restrictions on use, which include mileage, prohibitions on using the vehicle as a "normal" vehicle (such as, not allowed to use it to go to/from work, run errands, go shopping, etc). You must have a fully registered, insured "regular" vehicle for every licensed driver in your house in addition to the "collector" vehicle you want to insure. There are also often age restrictions where any driver of the collector must be at least 23-25 yrs old. As you mention, typically these policies all require that the vehicle be formally considered a "classic" or "antique". The biggest "Agreed value" companies out there, or at least the most common, are Grundy, Hagerty, and Heacock. I've used all of them at one time or another for various reasons.

If you do happen to have at least one "collector car", then Grundy has an MVP program where you can get agreed value for all your vehicles, including current late model stuff and motorcycles. The policy covers everything, but is based on you having at least that one collector car first. Hagerty does have "motorsports" insurance, and our bikes "might" qualify. I don't personally know anybody using it.

Jack, for the mileage restrictions, most of the time since virtually all of the collector vehicles force you to prove that you have a fully registered and insured daily driver for every licensed driver in the house, they don't see much risk and the mileage restriction is a hold-over from years past - when they did do things like force you to get your odometer read by licensed shops, etc.

As mentioned, prices are typically very low for the collector stuff. A $30k vehicle might have a $300 or so annual premium with very very good coverage. A $110k vehicle premium seems to be around $700 a year. Obviously, your zip code will have an impact, and probably your driving record as well.