Personal liability Insurance

[richie-rich]

If I where to buy a bike only for the track do you need Personal liability Insurance to race? Also is there any type of full coverage for race bikes, I assume not?

[The GECCO]

The insurance required to get plates in CO is General Liability, I'm assuming this is what you're asking about? If so, you only need it if you want to register the bike for the street.

If you truly mean Personal Liability insurance, whether you need it or not is up to you. In theory, if you crashed the bike into a crowd of spectators you could be held personally liable. However, in my opinion this is very unlikely for a couple reasons. The first is the liability waiver that everyone who enters the property has to sign. It not only protects the track and our insurance carrier, it also protects the competitors from liability claims, so that is your first defense and will stop 95% of claims before they even get started. The second is that, unless you are independently wealthy or have other assets, no one is going to come after you based on the whole "no blood from a turnip" theory. There are lots of other deep pockets (like the tracks insurance carrier) for people to go after if they are really determined to do so.

As for full coverage for a racebike - not that I know of. There are companies out there that will issue damage coverage policies for "qualified" HPDE (high performance driving experience, ie track day) programs for cars but I don't know about motorcycles. The thing is, insurance is nothing more than legalized gambling - they are betting you WON'T have an accident, you are betting you WILL, and the premiums you pay are the wager. If you are willing to pay a high enough premium, someone will "take the bet".

Hell, I will issue you a full coverage policy for your racebike, but the premium will be 60% of the agreed value of the bike, with a 10% deductible and a one claim per year limit. Those are the terms of the "bet". Any takers? :lol:

[richie-rich]

Great info, just what I was looking for thanks!