Track insurance for your bike

Discussion in 'STT General Discussion' started by bogiewacker, May 4, 2017.

  1. steve802cc

    steve802cc Knows an apex

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    Like Ski said get it in writing.
    I did this with my medical insurance. I got them to write me a letter stating I was covered "while racing motorcycles" in the USA (I'm Canadian).
    Steve
     
  2. tigerblade

    tigerblade What's an apex?

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    We have this language in our life insurance policies. I'm sure similar language exists in health and property (auto, etc.): "No agent has the authority to change this policy or waive any of its provisions. Only an officer of the company may make or modify this policy." And on the applications: "Only the XXXXX Insurance Company, at its Home Office, may make or modify contracts or waive any of its rights or requirements, and only then in writing" and "No agent is authorized to accept or pass upon insurability"

    In other words, the agent is a salesperson. The legal contract is between insured and insurance company. Agents can and do get sued and have Errors & Omissions insurance specifically for these reasons but it saves a lot of hassle and heartache on both sides to clarify coverage ahead of time with the company, not with the agent.
     
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  3. motoracerx

    motoracerx Rides with no training wheels

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    Conversation with insurance company without any misinformation given:

    You: Hello, I had an accident on my covered motorcycle.
    Agent: Where?
    You: In a curve.
    Agent: Any other vehicles involved?
    You: No.
    Agent: Any injuries?
    You: No
    Agent: Is there a police report?
    You: No. It was just me. My friend picked me up.
    Agent: Ok. Thanks for being a valued customer. Your check to cover the losses of the bike is in the mail.
     
  4. Whitney Arnold

    Whitney Arnold Run it wide. The grass is a safe place.

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    The old VISA card!
     
  5. skidooboy

    skidooboy titainum plate tester

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    that's your agent (read, a salesman for the company, not too smart)... your assigned ADJUSTER will need SPECIFICS to authorize coverage's, and payments for the claim. and if you bend, stretch the truth, facts, and they find out you were trying to deceive them, they CAN AND WILL get the CRIMINAL INVESTIGATION UNIT of the parent company involved. when that happens, it is call material misrepresentation, (fraud). when they dig deeper, they can opt to not cover this loss, then cancel your policy with the misrep on your NCIS record which follows you to EVERY INSURANCE COMPANY YOU TRY TO GET COVERAGE WITH, FOR THE NEXT 10-12 YEARS..

    like I said, this is an industry, and misrepresentation is grounds for cancelation, and subsequent further actions, that are worse than drunk driving.

    this is coming from a 30 year experience in the collision industry, the last 13 on the insurance side of things. don't try to deceive the insurance company, they have more resources than you do, and they will make life after fraud MISERABLE for you, for ALOOOOOOONG TIME!

    your results may vary, you are on your own.

    Ski
     
    #25 skidooboy, May 13, 2017
    Last edited: May 13, 2017
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  6. motoracerx

    motoracerx Rides with no training wheels

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    I was kidding ski. Ive been paying motorcycle insurance for 30 yrs...i get all that. I actually found that little excerpt online from another discussion and basically copy and paste it here.

    Id recommend everybody looking into foremost. I recently made the switch from riders and progressive to foremost. Premiums were cut in half on a '16 tuono, '13 rsv4 and '13 hd nrs.
     
  7. JamieLK

    JamieLK Rides with no training wheels

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    On my 2008 GSXR 600 I carry full coverage as it has a loan on it,is a dedicated track bike.I have State Farm insurance on the bike,2 cars,and renters insurance.I have asked my insurance agent if I would be covered for a "riders course" on the track,not bringing up trackdays,they looked into it and said no.I have medical coverage on the policy set as a higher rate as my insurance with the company I work for doesn't cover motorcycle accidents,street or track.The bike I'm not so concerned about as my agent knows I do trackdays,I won't lie to them about that,that would come back on me for sure.I was more concerned about health coverage.I did take out and accident plan with Afflack though for some coverage,even purchased a Hit Air racing vest to protect me more.Was on the track at BHF in Beloit yesterday and didn't have to use it,hate to say another rider I know got bumped by a CR and took a tumble,did some damage to his shoulder and had to call it a day.
     
  8. JamieLK

    JamieLK Rides with no training wheels

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    By the way I am in Wisconsin,so maybe policies change from state to state? I spoke with one guy from Illinois and he was cover with State Farm.
     
  9. tigerblade

    tigerblade What's an apex?

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    Yes, policies can vary from state to state. With our life insurance policies, we are now able to file with the Interstate Insurance Product Regulation Commission but property and casualty policies are still filed state-by-state to my knowledge.
     
  10. indy

    indy What's an apex?

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    I just asked if Safeco would cover my bike, first response was no because of racing.
    My reply back was racing is a timed event, winners and losers. First, second, third place.
    This is a NON timed event. There is class room instruction, coaches and no one wins anything including a hand shake saying gee your fast. They are getting me a quote.
     
  11. KBikeJim

    KBikeJim Rides with no training wheels

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    After reading this thread, I called Geico to ask. I asked the following question: "I'm taking some advanced riding skills instruction. It's on a closed track, with on and off track instruction. There are no timed events, or prizes offered. It's NOT racing. Am I covered?" The reply was "we won't cover racing, other than that you're good, go have fun and learn a lot." I reiterated that it was ADVANCE RIDING INSTRUCTION ON A RACE TRACK, but NOT racing. I was assured I was covered. No, I didn't get it in writing, and the above quote is why. If you'd be covered taking a riding skills course then it's all in how you put it to them. Geico will likely require a police report. Simple enough, get the local PD to whip me up a private property accident report, and I got that covered too, and that is all in how you "tell it" as well. "Officer, I need a private property wreck report for my bike please. I was taking a novice riding skills course at Barber, and I fell down and scuffed up my scooter."

    I WAS looking for a dedicated track bike, but after talking to Geico about this I'm confident to put my 2016 BMW S1000R on the track, and will do so at Little Talley in a 3 weeks.
     
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  12. motoracerx

    motoracerx Rides with no training wheels

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    I had a Geico about 8 yrs ago. A fellow employee accidentally knocked my 07 GSXR 1000 over while in the employee parking lot.
    I called police, they said there was nothing they could do since it was n private property.

    I called Geico and since my policy was less than 6 mos old, they DID want a police report. The police did come, but no report or imfo was given/exchanged to the police, but my phone call to the police and the police being dispatched to the 'scene', was used to confirm the accident.

    Point is, if your policy is over 6 mos old with Geico, then no police report is needed. Of course, that policy may have changed.

    But if you think about it, when there are a lot of bad weather accidents with vehicles like in a snow storm, the police will tell you to exchange info with the parties involved and contact your insurance companies. So in many instances, insurance cos know that police reports are not available.
     
  13. motoracerx

    motoracerx Rides with no training wheels

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    again, i suggest people look into foremost. The absolutely cover bikes on the track. They were much cheaper with higher coverage limits than Geico, progressive, riders on my '16 Tuono, '13 RSV4 and '13 Harley night rod special (v-rod).
     
  14. nytrozula

    nytrozula Rides with no training wheels

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    What happens if a rider causes an accident and others get injured? Do we as riders sign a release that protects from being sued are responsible?
     
  15. JakRap

    JakRap n00b

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    Crashed and totalled my bike on a track day. Wasnt racing any one nor was doing a timed event. Geico covered the bike.
     
  16. ebart

    ebart n00b

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    I only have comp on my track bike, but I did not ask about being on a track with it. I was covered when I took a school on my street bike, but I did not have a track bike then. I will have to ask them to be sure. This thread has been very interesting, thanks for asking about it Bogiewacker
     

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