Penny for your thoughts

rotorblade · 05-07-2007, 1:27 PM

So out at Beaverun this past weekend I managed to highside my 04 1000rr. Sucks cause I was just starting to feel 'in the zone' and was laying down some decent times when I decidd to late-brake a buddy into the bus-stop, carried a bit more lean angle through there and the second I touched the gas I was off. Bike would've survived fine but the dude I just passed ramped the tail section Duke of Hazard style.
So back to the point. This is the third time the bikes been down (two slow lowsides) and I'm fairly positive the insurance (State Farm) will total it if I claim it. Damage is everything from my seat back is TOAST, minus the wheel. Swingarm scratch up, every piece of plastic broken, frame scratched, and who knows what other little things. This would be my first and only claim.
So if I claim it will it be totalled, what might they offer me, and what kind of buy back price could I get?
I'm really torn between
1. trying to patch her together cheap again
2. claiming and buying back and fix right
3. claiming fixing and selling
4. somehting else?

Just looking for someone elses viewpoint or take on things. Thaks.

Have Blue · 05-07-2007, 2:44 PM

Normally, racing and track use is specifically excluded from insurance coverage, so unless your insurance is a racing policy or you have added a clause to include that activity, it is not covered. I would check my policy to be certain where I stood on that point. If you're spcifically not covered and you make a claim, its a felony fraud. Its also something the company will check as a matter of routine. There are track records, etc, so its a simple process for them.

nedro · 05-07-2007, 2:55 PM

Besides that, insurance companies hire exracers to evaluate suspicious claims because they know what to look for. And exracers hate guys trying to screw the motorcyle insurance business because they know, like I do, that it costs ALL of us.
BTW, when your insurance company asks you for the police report, what will you tell them?

*Quick 26* · 05-07-2007, 3:30 PM

even if they do pay up it will take 2 to 3 months to get it back, with state farm you cant just buy the bike back. when my repsol was stolen, it was recovered after we settled. i inquired about the buy back, and they would not do it. they killed the title, and once all the paperwork cleared they auctioned it and called me and told me what the high bid was and what i could then buy it for.

rotorblade · 05-08-2007, 9:47 PM

Wow, there's a lot of weird stuff here. First off it seems to me that most agencies will cover anything on a track as long as it's not timed or paid, and how am I tring to screw other motorcyclists? I'm not lying or exaggerating, I'm just trying to use the services I've been paying for, just like the rest of you. And a police report is usually only involved when another vehicle is involved. Also my agent said the entire process should take around 2-3 weeks and there is the option to buy the bike back.
I'm not trying to 'pull one over' on anyone here, I was just looking for some inputs from someone whose maybe been down this road before. That's all.

*JeepinJeff* · 05-09-2007, 8:24 AM

Are you planning on telling State Farm that you've laid it down on a race track three times?

nedro · 05-09-2007, 2:30 PM

YOU HAVE TRACK DAY INSURANCE???
I think I'm going to call State Farm right now and ask them for a quote. If they refuse, I'll point this thread out to them.

*Quick 26* · 05-09-2007, 2:33 PM

i thought as long as you were not racing it was covered?

SamoanzRR · 05-09-2007, 2:56 PM

I was told by an insurance worker that the bike is covered UNLESS its on a racetrack.

*slorider18* · 05-09-2007, 3:36 PM

my state farm agent is looking into the issue. I remember with my 4X4 they would cover it off road as long as i wasn't "racing". They will get back to me this afternoon about my bike on a track and whats covered and what's not.

nedro · 05-09-2007, 3:49 PM

If they do, in fact cover it, I'll be looking to switch to State Farm.
I have to contact an individule agent to find out. I tried their website but not much help.

*slorider18* · 05-09-2007, 3:56 PM

i've had them for years. always very good service and the rates are pretty good.

rotorblade · 05-09-2007, 10:38 PM

I have not, nor do I plan on lying or hiding anything from anyone; why is that so hard to understand?

*JeepinJeff* · 05-09-2007, 10:42 PM

that's cool, let us know what they say. I think everyone is pretty interested now. Heck, your agent may get a bunch more business! Tell him he should pay you a commission.

rotorblade · 05-09-2007, 10:56 PM

*ratchetman* · 05-09-2007, 11:06 PM

here in Canada, State Farm was the only company I could afford. $1337/yr vs $2800 for some other ripoff my broker quoted. That's for public liability and dammage only (the part I'm legally obligated to have) . There is no fire theft or collision included in those rates.

*slorider18* · 05-10-2007, 1:50 AM

they have not got back to me yet. i will call again in the morning. i'll keep everyone posted.

*Quick 26* · 05-10-2007, 8:33 AM

i guess i could call my agent, but since i just got my full coverage back i dont want to put anyy ideas in their heads

*JeepinJeff* · 05-11-2007, 9:00 AM

Roto, updates?

*JeepinJeff* · 05-17-2007, 1:57 PM

still would like to know what your agent said when you said you laid it down three times at the track but would still like to be covered.

*slorider18* · 05-18-2007, 12:34 PM

i totally forgot about this one. My agent called back and said the bike would not be covered in anyway if I was "racing". i asked if a "track school" is racing and she said yes. anytime you are on a closed track, being timed or racing another individual they will not cover any part of the bike. she said that includes street racing if they can confirm it somehow. so no, statefarm will not cover a bike at the track with a regular plan. i don't know if you can purchase a "race" policy.

*JeepinJeff* · 05-18-2007, 12:37 PM

Doesn't surprise me. I'd be shocked if they did cover it.

*slorider18* · 05-18-2007, 12:38 PM

me too. oh well, guess i just need to get a track bike now.

*sinfuldragon* · 05-18-2007, 12:42 PM

Didn't you just knock yours over, maybe you can use that for your track bike since its scratched and you can just get a new street bike

*slorider18* · 05-18-2007, 12:47 PM

it's not that bad. the curb broke it's fall. i just need a new brake lever, bar end, and the fairings were already scratched.

*slorider18* · 05-18-2007, 12:48 PM

I can't believe you two are almost to 3,000 posts. i comend your dedication.

*sinfuldragon* · 05-18-2007, 12:50 PM

what can I say... I don't work very hard 99% of the time

*JeepinJeff* · 05-18-2007, 1:11 PM

I don't work hard only 97% of the time, I need to start slacking off more.

bettingpython · 05-19-2007, 12:52 AM

I have state farm, a local rider here is a claims adjuster for state farm, we both use the same agent. Your motorcycle is not covered on a racetrack of any kind even a "rider improvement course". That being said when I highsided a block from my house they didn't even come look at my bike. I took it to a dealership. They did the estimate and the adjuster came out looked at it took pictures to verify that what was on the estimate matched the bike and wrote me a check. Very fast and excellent service for a legitimate claim.

No matter what an agent says state farm will not cover it at the track. Some have found this out the hard way. Agent say's one thing but after actually trying it the appropriate language in the policy is highlighted for the policy holder. Excellent insurance but find an agent who won't lie about what they cover.