Theft/Fire Insurance for race bike

[cactusjack]

I've searched the forums and found some older posts (both on here and the WERA forums) indicating that it is possible to insure a race bike for theft and fire (i.e. comprehensive). My main concern is theft, both while garaged and while in a trailer.

However, I've called around (Progressive, State Farm, Allstate, Liberty Mutual) and it seems that no coverage is offered at all for a bike that is raced. The closest I got was with Progressive, who would be willing to cover the bike if stolen from my home, but not if stolen from a trailer on the way to or from a racetrack or at the racetrack (technically, race preparations are not covered either, so if someone jacked the bike while I was wrenching on it, I'd be out of luck?) -- and they also require a liability policy on the bike (which I would never be eligible to use because my only use of the bike is on track and thus not covered). Progressive, it seems, has never heard of a comprehensive storage policy.

At this point this seems like a complete catch-22. Homeowner's will not cover because the bike has a VIN and wheels. Vehicle will not cover because it's a race bike.

Maybe underwriting requirements have changed in the last year or two, which would explain why people have been successful in years past obtaining such insurance.

Has anyone had any luck doing this in Colorado? If so, can you share your insurance company and agent?

Thanks.

[Munch]

If you have no collision, then why even mention its a racebike?

I have comp only through State Farm. Coverage while it's sitting in my garage against theft or fire.

[ldenvermom]

We have Allstate, and they covered it when it is not on the track...we are to never mention the track...
They just needed the title & to have it plated
It ran 225 for the year, but we have 5 policies with them with perfect driving records and no claims - so I don't know what anyone else would charge :-0

Yes, to those who are thinking, "Chris has a sparkling record??" he does - very fast on the track and not as fast in the car with the monkeys (AKA Racer and Pickle!)

Good luck

[marty]

i get good rates through western ag (farm bureau) on my street bikes and have gotten a race car insured through hagerty insurance. i just told them i didn't race it and it was a display piece. they would never cover an on track insurance but it would cover theft or falling off the trailer. your home owners or renters would cover a fire that consumed the bike in most cases

[oldtimer]

Scott Rybarik told me he'd come across some motorsports specific transport insurance companies. For theft or damage while it's in your trailer. I'll ask him for company suggestions and post up.

[Wild Cheetah 612]

I have mine insured with my regular insurance company and I just tell them it is an "off-highway" motorcycle and they're cool with it. All I have is fire/theft on it.

[elvis8310@hotmail.com]

I have comp on mine. They know it is for track use and have no porblem. It is covered for theft, fire and acts of nature.