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Race/Track bike ONLY insurance |
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02-27-2008, 04:52 PM
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#1
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(+2)Bully on the Internets
Smokes35 is offline
Join Date: Aug 2005
Location: Pittsburgh, PA
Posts: 591
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Race/Track bike ONLY insurance
Ok as some of u guys know im an insurnace agent/broker... Ive been trying for some time to actually get a company to write a specific policy for motorcycles, but now that someones willing to listen i need to collect some data. basically heres the way the program works...
you pay your premium and get coverage in the event of the following loss...
Comprehensive coverage...
Fire
Theft -- at the track, at home, in a trailer, dosent matter where.
Vanaldism
Flood
Equiment in transit
whats covered...
the value of the bike. Plus, with proof of puraches/reciepts/photos coverage for spares, parts on the bike, accesories, including labor on motorwork, safety wire, professional tuning, etc. The reason there needs to be evidence of the puraches is to eliminate fruad and make sure u get fair value for parts and labor.
obviously there will be alot more detail on coverages down the road, but thats the gist of it. No collision, no liability. Just straight up affordable coverage for everything a typical policy wont cover.
The pricing will be very fair. The premium based on your uprgades per 100 bucks spent... soooo, if u have 10 grand in work on the bike... the premium for it is "X" x 1000. I dont know what X is but it will be considerably less expensive than a typical motorcycle policy but will cover the stuff a typical policy wont-- i.e. labor, etc.
Would make it easier to sleep at night with your bikes in the trailer at the hotel, etc...
Whos interested in this idea?
Please dont bastardize this to badly as i have to put the feedback into a business plan and forward it to a legitamate insurance carrier.
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02-27-2008, 05:01 PM
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#2
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Meatball's Daddy
NYCSTRIPES is offline
Join Date: Oct 2005
Location: Queens, NY
Posts: 1,754
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I might be interested, my track bikes are not covered on the road only at home via my home policy.
My insurance for the trailer does not cover contents...so this may be a decent option depending upon price.
cool idea.
Ken
__________________
2003 TL1000R #489 
1998 Valkyrie cruiser
No man's life, liberty, or property are safe while the legislature is in session....-Mark Twain
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02-27-2008, 05:04 PM
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#3
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Team Kessler
njracer is offline
Join Date: Jun 2005
Location: in a house
Posts: 520
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Quote:
Originally Posted by NYCSTRIPES
I might be interested, my track bikes are not covered on the road only at home via my home policy.
My insurance for the trailer does not cover contents...so this may be a decent option depending upon price.
cool idea.
Ken
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Better make sure your home owners cover the bikes, most don't.
I had to get ins thru Geioco to cover the YZ450 since State Farm will not (either did my Allstate policy). |
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02-27-2008, 05:08 PM
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#4
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(+2)Bully on the Internets
Smokes35 is offline
Join Date: Aug 2005
Location: Pittsburgh, PA
Posts: 591
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Quote:
Originally Posted by NYCSTRIPES
I might be interested, my track bikes are not covered on the road only at home via my home policy.
My insurance for the trailer does not cover contents...so this may be a decent option depending upon price.
cool idea.
Ken
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If ur with USAA home owners ins thru the gov't youve got a shot at them being covered on the HO policy...
ive never read a homeowners form that would offer any covereage for a race bike. |
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02-27-2008, 05:15 PM
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#5
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Kung Fu Panda
Ant is offline
Join Date: May 2005
Location: NJ
Posts: 2,049
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Will you be able to cover NJ? I would be interested. Honestly, theft is something I'm afraid of since my bike is not on the street.
__________________
Quote:
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Originally Posted by mike295
i figer i got about 20 more pounds till i can't see my dick
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Originally Posted by Cakes
That'll make ya crap where ya stand
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Quote:
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Originally Posted by Jimmy
gixxer...cage....it's like kicking me in the balls
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02-27-2008, 05:17 PM
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#6
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(+2)Bully on the Internets
Smokes35 is offline
Join Date: Aug 2005
Location: Pittsburgh, PA
Posts: 591
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Quote:
Originally Posted by Ant
Will you be able to cover NJ? I would be interested. Honestly, theft is something I'm afraid of since my bike is not on the street.
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 they dont write in NJ-- but u could all get garage adresses at a self storage place in PA and we'll be ok! |
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02-27-2008, 05:19 PM
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#7
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The Solution
Cakes206 is offline
Join Date: May 2005
Location: New Joisey
Posts: 8,105
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Quote:
Originally Posted by Smokes35
they dont write in NJ-- but u could all get garage adresses at a self storage place in PA and we'll be ok! |
Bullshit, I'm using your address.
__________________
Character is who you are when no one is looking.
The more you sweat in practice, the less you bleed in battle.
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02-27-2008, 05:45 PM
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#8
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Kung Fu Panda
Ant is offline
Join Date: May 2005
Location: NJ
Posts: 2,049
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Quote:
Originally Posted by Cakes982
Bullshit, I'm using your address.
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Nice, that's a great idea!
__________________
Quote:
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Originally Posted by mike295
i figer i got about 20 more pounds till i can't see my dick
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Quote:
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Originally Posted by Cakes
That'll make ya crap where ya stand
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Quote:
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Originally Posted by Jimmy
gixxer...cage....it's like kicking me in the balls
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02-27-2008, 06:34 PM
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#9
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Meatball's Daddy
NYCSTRIPES is offline
Join Date: Oct 2005
Location: Queens, NY
Posts: 1,754
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Since you throwing this around. See if coverage will be available in the NYC area.
Ken
__________________
2003 TL1000R #489
1998 Valkyrie cruiser
No man's life, liberty, or property are safe while the legislature is in session....-Mark Twain
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02-27-2008, 09:16 PM
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#10
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Lieutenant Dan
FDNYDANO18 is offline
Join Date: Apr 2006
Location: Queens ,NY
Posts: 664
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If its reasonable I would be interested.
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Whattayagot
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02-27-2008, 09:22 PM
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#11
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Tech Nazi
RCM78 is offline
Join Date: Jul 2005
Location: Jackson NJ
Posts: 1,263
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Smokes, This is a very good idea!!! You have to get this available in NJ!!!!
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Skill is overrated I'll take HORSEPOWER!!!
---RCM78
TPM Coach #71
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02-27-2008, 09:27 PM
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#12
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Craigslist Champion
sonny is offline
Join Date: Mar 2006
Posts: 893
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Count me in potentially.
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02-28-2008, 01:07 PM
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#13
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Skid Mark
wcrbikemike is offline
Join Date: Jun 2005
Location: Somewhere in Jersey
Posts: 439
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Great idea and i would be interested. There is a company that does this already but their prices are pretty high. I forget the name of the company but they basically only do stuff like this but it also includes all of your gear, trailer, tools. Basically anything that you have listed when you sign up for the policy.
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02-29-2008, 04:06 AM
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#14
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Short Shifter
BadKitty is offline
Join Date: Sep 2007
Location: Rochester, NY
Posts: 176
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sounds like a great idea. I keep my SV street legal so it is insured, but the mods are not..and the trailer is not....
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Ride it like you stole it!
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02-29-2008, 11:58 AM
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#15
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Throttle Lock
ronin_01r1 is offline
Join Date: Jun 2005
Location: south jersey
Posts: 1,105
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is this insurance coverage for trackbikes w/o titles too?
i have state farm and they covered my bike when i crashed at pocono. they said its covered as long as it's not a "sactioned race". since it was a trackday, they said no problem. they were charging me about $500/year full coverage w/o medical.
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2007 Kymco Grand Vista 250
2006 KTM 950 Supermoto
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