Insurance

Discussion in 'Racing & Track Days' started by RobVG, Feb 14, 2017.

  1. RobVG

    RobVG Member

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    Where can i get insurance for my "bike only" on track days?
     
    Last edited: Feb 14, 2017
  2. Badbilly

    Badbilly Official VFRWorld Troll Of The Year!

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    Lloyds of London might write you a policy but it could be more than buying regular insurance. What is not clarified is that Washington State does not require one to have MC insurance.

    Might be fun to contact your cage insurer and see what they $ay. Might be a good idea to not tell them who you are so they can't cancel you..
     
    Last edited: Feb 15, 2017
  3. Lint

    Lint Member

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    State Farm will not cover racing, however, they will cover a loss on a track as long as it is an instructional track day. However, that is with a regular street motorcycle policy, not track dedicated. As far as I know, Lloyd's may be your only choice. Go join some track forums, perhaps they can point you in the right direction.
     
  4. RobVG

    RobVG Member

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    Thanks Lint. That helps.
     
  5. Lint

    Lint Member

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    You're welcome.
     
  6. Badbilly

    Badbilly Official VFRWorld Troll Of The Year!

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    Since MC insurance is not required in the State of Washington, State Farm might not be the best insurer of choice. They were kind of last on the block to insure bikes.

    Lloyds has an agent in Bellevue:

    https://www.griffinmaclean.com/insurance-company/lloyds-of-london

    What will be found on the periphery is that each school, track day rental outfit and race venue has different rules and each should be checked out on an individual basis.

    Let's say some dude signs the dotted line and pays his pesos for a track day at PIR with the Little Ajax Track Day Corp. Coming oot of the bus stop in second cog, he (or she) hits a slick spot bails,and the bike wraps itself around the jersey barrier and becomes scrap.. State Farm may not be there..

    Knock-knock!
    Who's there?
    Little Ajax!
    Who the fuck is Little Ajax?
     
  7. Lint

    Lint Member

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    I have State Farm, and, as I used to be an auto insurance broker, I verified with their corporate that they protect you if you have a crash in an instructional track day. Simple as that. Verify in your own state, but I already checked it for clients. Additionally, if your bike has a salvage title, yet is restored, they will insure it as if it was a clean title. I speak from personal experience. Just because they do not do bikes as their primary line of business, does not mean they are a poor insurer. I have had two claim experiences with them and each time, it was a positive experience. Especially my last one, wherein my bike did have a salvage title, however, it was repaired by a shop and State Farm had a copy of the repair bill. The second claim on my 6th gen was a very fair and quick settlement.

    The purpose of insurance is to make you whole after a claim, which means fix it or give you enough to put you back as if the accident didn't happen. That means your bike is repaired or you're given enough to buy a different one in just as good of condition. Some of the big insurers that have reptiles or fifteen minutes are notorious at failing to do so. State Farm is very good at taking care of you.
     
  8. Badbilly

    Badbilly Official VFRWorld Troll Of The Year!

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    Thank-you very much!

    https://www.youtube.com/watch?v=wQy-XTdGEa8
     
  9. Lint

    Lint Member

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    Haha. Now I have to listen to music to get that damned jingle out of head...
     
  10. Badbilly

    Badbilly Official VFRWorld Troll Of The Year!

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    I have State Farm, and, as I used to be an auto insurance broker, I verified with their corporate that they protect you if you have a crash in an instructional track day. Simple as that.

    *** I don't have State Farm and I am not a former broker. What needs to be done is to define an instructional track day as this is not certain and a five minute phone call to "corporate" after probably being immersed in which button to push to get to talk to someone other than a sales rep for half an hour makes this rejoinder sound flakey. If insurance were simple it would be simple. It ain't. What you missed is that in Washington State motorcycle insurance in not mandatory or in simple terms, you do not have to be insured by anyone including State Farm.




    Verify in your own state, but I already checked it for clients. Additionally, if your bike has a salvage title, yet is restored, they will insure it as if it was a clean title. I speak from personal experience.

    *** Do you have Washington clients or since you state you are a former insurance broker for State Farm did you "check" it for the OP? I don't think so.

    Whether or not a bike has a salvage title is not germane. The question would be if a track bike ie, no lights mirrors and all safety wired and inspected by a certified referee was a salvage bike, The point is moot since the bike does not need to be licensed or registered. The second point is questionable; would State Farm or any other insurer save Lloyds (an underwriter, not an insurance company per se) offer a policy? I don't think so.


    Just because they do not do bikes as their primary line of business, does not mean they are a poor insurer. I have had two claim experiences with them and each time, it was a positive experience. Especially my last one, wherein my bike did have a salvage title, however, it was repaired by a shop and State Farm had a copy of the repair bill. The second claim on my 6th gen was a very fair and quick settlement.

    **** Were you a broker for State Farm at the time? Or after incident #2 did they cancel you and toss you under the bus?

    The purpose of insurance is to make you whole after a claim, which means fix it or give you enough to put you back as if the accident didn't happen. That means your bike is repaired or you're given enough to buy a different one in just as good of condition. Some of the big insurers that have reptiles or fifteen minutes are notorious at failing to do so. State Farm is very good at taking care of you.

    *** No shit! Leaving oot the part about physical injuries doesn't count I take it.. Some get offs are permanent. Now the number crunching.. You tossed oot a not very good pitch worthy of maybe a Trump trumpeter or the blonde chica with the overbite but in fact, those "big" insurers do not even come close to

    State Farm in many areas including size and revenue. Ten seconds on any search engine tells the tale.

    There's another really funny State Farm ad with the Coneheads on Utube. One area that State Farm does not screw around with is advertising. I wish I was their ad agency.
     
  11. RVFR

    RVFR Member

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    Wow, I take it as it happens in a way knowing the risk, we all know the risk and what it's worth be on the track. If you go down on a track day, instructional or not, be ready to shell out what it might cost you. One might also while at it check your health insurance too. insurance is a funny thing, one needs a magnifying glass to see all the small disclosers. Look at what sky divers and even pilots have to go through it's nuts. I have progressive, a great company to have had to deal with on both of my incidents, they went a above and beyond IMO, but there's a slippery slope when out on a track. So check what your coverage offers, simple as that. Is it worth it? Only you can be the judge. Anything can happen if you throw enough money at it.
     
  12. fink

    fink Member

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    Why not contact one of the track day organisers?
     
  13. Badbilly

    Badbilly Official VFRWorld Troll Of The Year!

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    It should be clear that insurance companies know exactly where they would like us to take it. ;)
     
  14. Lint

    Lint Member

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    I prefaced my original post above with the fact that it has to be a policy for a street bike, not a race bike. I still have State Farm, even tho I have had two bike claims in the past four years and my newly licensed son had an at fault auto accident. I don't know the workings of Washington law for bike insurance. Perhaps it could be different.
    I mentioned the post about a salvage title because I know of no other insurer that offers that. Also above I stated I know of no insurer that would insure a track only bike and agreed with you that Lloyd's may be the only option.
     
  15. Badbilly

    Badbilly Official VFRWorld Troll Of The Year!

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    Great Idea!
     
  16. RVFR

    RVFR Member

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    Just talked with a couple folks on this subject, so for Robs, question, Maybe. The guys that run the tack day at the Ridge do not offer any additional policy's for coverage. That said, since this is a hot topic under the sheets of sorts,, I looked further, most insurance company's today cover you on the track. If it is a "none timed event" . That there is key. That's said, while on the subject because it's also good to know for a fact. My coverage with Progressive will cover me at those events, they call it an "advance riders course". A timed event where there's actual racing happening, I have No coverage, that's a whole other subject. But as you say instructional, that's doable. So Rob, Call your insurer and find out. Organizations running an event don't offer coverage, but if you where on one of their bikes, say that Super bike school, they have coverage for them.. lol not you, so check your medical.
     
    Last edited: Feb 15, 2017
  17. Badbilly

    Badbilly Official VFRWorld Troll Of The Year!

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    **** Great that State Farm does this. So does this cover race bikes that are also track bikes? Maybe you can provide some other insurers that provide the same service for dudes that are in Washington where, once again, motorcycle insurance is not required or for dudes that are insured by what we now know are some of the smaller and possibly less reptilian if one is fortunate,insurers. Track venues are privately held privately held properties. The better schools that are incorporated or are LLCs may in fact require proof if insurance above the level of the state regulations. Trying to lump everything into easily digestible packages when it comes to so complex an issue results in not only headaches but stomach aches and lot of flatulence.

    I suppose one could call the broker in Bellevue, WA to get the real poop on what Lloyds can or will do. My money will be that they will underwrite damn near anything if the premium is large enough. Another tidbit you may find interesting is that in AMA Sanctioned motorcycle events, insurance riders for the period of the event are very reasonable. I am involved with two specifically. The VME Isle of Vashon TT and Soundrider's Sportbike West.

    For specifics even though you see to think you can operate off the top of your head withoot any evidence or checking, The AMA has a very complete website and staff on hand to address questions.

    Those State Farm ads are really great. See "google-utube-50 ways to piss off a State Farm agent"
     
  18. RobVG

    RobVG Member

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    Thanks for checking RVFR.

    The thing is I don't have ins on the bike. It's always worked well from me and my vehicles end up paying for themselves through the savings in insurance. Besides, It makes me a little more cautious.

    Yeah, I want to go to CSS at the ridge. It's $300 dollars more to ride their BMW. At least it was last year. And your only responsible for up to $1200 if you get off. A risk but I'll probably take it.
     
  19. Gator

    Gator Insider

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    Most will cover your street bike that is tracked. That is why when we do races at the track on a track day it is not timed and it is called a mock race. I have Progressive, very good company to deal with. I keep it on my CBR 1000 track bike even though I rarely ride it on the streets. Usually just testing something to get ready for a track day. I have 3 bikes and a 4Runner with them.
     
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