Is it advisable to insure a track bike?

CBRVFR · 03-10-2004, 10:47 PM

I have a salvage title SV that I'm preparing for track days. I am not licensing it for street use, and up to this point, I haven't seen a need to register it.

So, here's the question. What happens if I hurt someone else at a track day event? ( Not in an Aaron Yates sort of way..) Do I have exposure for liability? Should I obtain insurance for that?

And, Abtech or Red Rider or DCE, should I register it in Michigan as an off- road vehicle or something like that?

Thanks

WetShrub · 03-11-2004, 10:20 AM

I think the only thing you can insure for is theft. Anyone?

Red Rider · 03-11-2004, 11:12 AM

As to registering it as an ORV, I'm not really sure the need to do that unless you plan to ride it on state land/trails. As for the liability, wouldn't you be covered by your auto or home policies? Do you have a liability umbrella? Again, I'm not really sure...

Pete · 03-11-2004, 11:30 AM

To everyone in general:

No matter what you do, what your intentions are/were, what you sign, or what someone else has signed, you ALWAYS have exposure. Go ahead, don't believe me, or argue with me until you're blue in the face, you will NEVER be able to convince me otherwise.

Going through life without an umbrella policy is just not smart, IMO.

-Pete

abtech · 03-11-2004, 11:35 AM

Quote:

Originally Posted by Pete

To everyone in general:

No matter what you do, what your intentions are/were, what you sign, or what someone else has signed, you ALWAYS have exposure. Go ahead, don't believe me, or argue with me until you're blue in the face, you will NEVER be able to convince me otherwise.

Going through life without an umbrella policy is just not smart, IMO.

-Pete

Ten four on that one. I carry health insurance, personal liability insurance, professional liability insurance and a catastrophic umbrella. My trailer and it's contents are insured, and my bike is insured for fire/theft while it's in my shop or trailer, but beyond that it costs 100% to insure it for damage on the track, which is a poor gamble in my book . . .

luvtolean · 03-11-2004, 11:57 AM

To clarify, this is not insurance on the bike. It is liability insurance on you the rider.

My agent explained it to me in a way that made sense. If you aren't worth anything (no 401k, no cash/stocks/bonds, or property) no need to get this type of insurance. But if you have earned all these things, you need to get insurance to keep some slimey **** from taking it from you. If you're worth $50k, you should have that much insurance.

Red Rider · 03-11-2004, 11:59 AM

Quote:

Originally Posted by abtech

Ten four on that one. I carry health insurance, personal liability insurance, professional liability insurance and a catastrophic umbrella. My trailer and it's contents are insured, and my bike is insured for fire/theft while it's in my shop or trailer, but beyond that it costs 100% to insure it for damage on the track, which is a poor gamble in my book . . .

Ditto that...I carry all the same policies (trailer, too) including collision on the bike for those rare times I actually ride on the street. My State Farm agent loves me big time!