Motorcycle Insurance Question

[Alan Etheredge]

Vaguely recalling an article in RRW that touched on this subject I called the RRW office .... turns out it's a common question and they had the issue date at hand:

Roadracing World Magazine July 2006

If anyone has that issue they can get to Tony perhaps that would be useful even though a bit dated?

Or, call RRW at 951-245-6411 and request the back issue for about $7.

I recently did a recycle run with my old issues so don't have it to offer.

UPDATED INFO - THANKS BRYAN:

I looked through my old issues of RRW and found the issue Alan mentioned (volume 16, number7 JULY 2006)
the issue really covers the health part of insurance for a racer, not the bike / gear.

[Will Coats]

I've had similar trouble. I've been trying to get my storage unit insured for contens and every insurance company i've talked to says they can't include any motor vehicles under contents. Then when I've tried to get a seperate policy for the bike I can't find anyone that will provide just theft/fire insurance on it. Everyone I've talked to says that to put any insurance on it they have to first provide liability insurance for it which they won't do because it's used for racing.... I can get insurance for my dirt bike, but they again told me that I have to have liability coverage before I can get comprehensive. Has anyone had any luck finding a better way to insure a race bike?

[Alan Etheredge]

I spoke with my State Farm insurance gal about this and learned that her husband held an AMA 1 plate in hack racing many years ago !

So, she was genuinely interested and sypathetic about the problem ....

She confirmed what has already been said about not getting theft/fire coverage for a racing machine through most 'big name' traditionally street-oriented companies like State Farm Homeowner policy won't cover vehicles in the garage (special exception for ATV & "mules" Towing vehicle policy won't cover the trailer/contents

However, she's sure that some niche company does offer the off-track theft/fire coverage for competition machines. Here's some Google find possibilities that MAY lead to the machine coverage you seek, no experience or 'endorsement' (pardon the pun) here of course ...

http://www.aceinsuranceservices.com/p03.cyclepage.html (see the "off-course and storage policy" blurb)

http://www.hagerty.com/Collector-car...fy/Motorsports

http://www.fernet.com/

http://markelinsuresfun.com/products/motorcycle


Anybody tried "Foremost" since they sponsor Pegram's racing?


HTH

[Steve McNamara]

Statefarm will cover any 2 wheel vehicle for theft and fire as long as you have the vehicle titled and its in your name. No title, no coverage.
K&K Insurance offers an off premise liability, theft and contents policy. They specialize in racer insurance.
You select what contents are covered from helmets, tools, generators and even race bikes and they quote your premium. I hope this helps.

[David Proler]

Statefarm will cover any 2 wheel vehicle for theft and fire as long as you have the vehicle titled and its in your name. No title, no coverage. K&K Insurance offers an off premise liability, theft and contents policy. They specialize in racer insurance. You select what contents are covered from helmets, tools, generators and even race bikes and they quote your premium. I hope this helps.

Hi Steve, thanks for the info. Along with the title, does the bike have to have continuous registration with the state for public roads? This may sound like a dumb question, but insurance companies aren't always easy to work with when it'a claim time. Thanks again.

[Steve McNamara]

David, they don't care about registrations they just need a title for salvage from a burn situation and to write off the loss in a theft. I normally do not transfer titles on dirt bikes but do now for insurance purposes.

[Linz Leard]

You can insure a vehicle that is not titled in your name. It's going to get tricky should a claim ever have to paid on it, however, as technically the claim would be paid to the registered owner even if the policy is in your name.

I have a former street bike on display in the house. As Steve mentioned, because I have the [blue] title, it is covered by my homeowner's policy (as long as it is in the house or on the premises). However, the 1% home deductible may a bit lopsided should a claim be filed; insuring it on its own policy is far less than the 1% deductible per year and the deductible, at $250, is far less, too. Over the course of multiple years, this cost/deductible number normalizes, meaning that I would pay more for insurance on its own policy over two or three years than the deductible I would pay through homeowners. So if you use motorcycles as furniture or artwork, this can work.

K&K, Dairyland and, at one time, Liberty Mutual, offered coverage for competition motorcycles. I know Ace Insurance Services does as well, and I've met some people who held policies with them.

http://www.aceinsuranceservices.com/p03.cyclepage.html

[Alan Etheredge]

Here's an independent agent that says he has several carriers with racing divisions that may offer coverage:

Kevan W Harris
Garrett Insurance Agency, Inc
Established 1918
PO Box 291425
Kerrville, TX 78029-1425
830-896-6600 Voice
830-896-1822 Fax
kevan@garrettinsurance.com
www.garrettinsurance.com
Member: Combined Agents of America, LLC

[Tom Anderson]

St Farm will issue a theft policy if a liter bike, not for 600s. Call it a show bike and don't elaborate. $10 per month.

I could call and lie or hide the truth, but I am trying to avoid that and just be honest. I know if they found out it was used for racing, they would drop me or refuse to pay for a claim just like my current insurance company.

Good call Tony, being ethical is important.

I've had great success with both options Steve McNamara mentioned, give them a shout.

[Tony Ugoh]

Thanks everyone for all the information. You all have been very helpful. I will try the different options within the next few days and update you guys on any success.