Insurance for Racers?

[mgarvey661]

I just came across this link on the WERA boards. http://ridersurance.com/index.php?op...page&Itemid=99
The original post, http://forums.13x.com/showthread.php?t=283527, on the WERA board said that they needed to have ten people sign up in order to be able to qualify. Any interest in setting up something similar for the MRA?? What do you think?

[TransNone13]

It looks like it's health only, is there bike coverage? Maybe, I'm just an idiot. But I already have health insurance.

[rybo]

It looks like it's health only, is there bike coverage? Maybe, I'm just an idiot. But I already have health insurance.

Kyle,

No insurance company that's going to be in business in 6 months is going to insure a racebike against racing damage. You can insure them against theft and other non-racing incidents pretty easily. Call and talk to your car insurance agent about storage and transportation insurance for your bike.

Scott

[T Baggins]

Progressive always has good rates on mc insurance.

[TransNone13]

It looks like it's health only, is there bike coverage? Maybe, I'm just an idiot. But I already have health insurance.

Kyle,

No insurance company that's going to be in business in 6 months is going to insure a racebike against racing damage. You can insure them against theft and other non-racing incidents pretty easily. Call and talk to your car insurance agent about storage and transportation insurance for your bike.

Scott

Sorry for my ignorance, that's what I was thinking.

[The GECCO]

It looks like it's health only, is there bike coverage? Maybe, I'm just an idiot. But I already have health insurance.

Kyle,

No insurance company that's going to be in business in 6 months is going to insure a racebike against racing damage. You can insure them against theft and other non-racing incidents pretty easily. Call and talk to your car insurance agent about storage and transportation insurance for your bike.

Scott

Sorry for my ignorance, that's what I was thinking.

Actually, I'm SOMEONE would.....but the rates would be astronomical! Insurance is nothing more than legalized gambling - you're betting you're gonna have a problem, they're betting you won't. The perceived likelihood of the problem and the cost of the payout determines the amount of the bet (the premium). The problem with insuring a racebike is that the likelihood of a covered incident is so high that the yearly premium would have to be at least 80% of the value of the bike, if not more (since you could total multiple bikes in a single season).

But, Scott is right, you can get comprehensive (theft, fire, etc) coverage for it quite easily, just not collision or liability. Also check with your homeowners insurance, they will usually offer this type of coverage on an "asset" like this, just as they do for firearms, jewelry, etc. This is how my racebike is covered.

[d_mob]

Well I guess that brings up the question, who is stealing bikes these days? :lol:

Kidding...

[Desmodromico]

I might be interested, these are to cover above and beyond health insurance should you be injured. I know that health insurance can no longer deny you coverage if you are hurt racing, but the lost wages and amounts over limit and extra deductibles are the issue. I'd be interested to see the rough cost for a season for sure.

[beavis]

Progressive always has good rates on mc insurance.

NOT IF ITS A SPORTBIKE!!!!!!!

State farm has good sportbike rates but their car ins is on the higher side.

I ride with the Gecco!!!!

[rybo]

I might be interested, these are to cover above and beyond health insurance should you be injured. I know that health insurance can no longer deny you coverage if you are hurt racing, but the lost wages and amounts over limit and extra deductibles are the issue. I'd be interested to see the rough cost for a season for sure.

Sam,

My job offers AFLAC and it addresses some of these issues and they cover competition so long as you aren't a "professional" racer. I clarified with them that the small amount of tire money I get is not considered "professional" racing since my costs exceed my winnings each year.

Now, if I was actually a "good" racer the circumstances may be different.



Check and see if you can get AFLAC through work.

S