Insurance...

Matt Stokes

Member
What type of insurance policy is required to race with the EMRA, and which insurance company is preferred among your members? Thank you!

Matt Stokes
 

Jason Henton

Active Member
I don't believe you are required to have an insurance policy, not even sure if you can find someone who would cover you.Everyone who is at the track is required to sign a waiver of liability.
 

DEFBOY35

Well-Known Member
If you are looking for insurance make sure that they do cover speed contestsso that you are not protentially paying for nothing
 

blam

Administrator
not sure anyone in our club has insurance on their bikes. most companies wont insure a race bike.

if youre looking for injury insurance, its not mandatory either.
 

Matt Stokes

Member
Thanks for the responses guys. Agreed that insurance on the bike isn't really applicable to a race bike, but I'm surprised that 3rd party liability insurance isn't required. I used to be a lawyer (key word - used to be). Waivers are great. But if you caused an injury or property damage with your bike, I would be surprised if you weren't exposing yourself to a negligence claim. You can't contract out of being negligent. Anyway, I will do some more digging about this and report back.
 

gixxer60_0

Active Member
I have theft and fire on my race bikes, trailer and contents. Thru Competition Insurance. I searched last winter and found these guys. They mostly do race cars but they do race bikes. Worth it, hope to never use it.
 

electrobiker86

Active Member
I have had trouble insuring race bikes as well, one agent said I should have PLPD on the bikes as liability to the public is still an issue. It seemed like the agent didn't know that street guys with insurance are on the track too. Will get back with info as this develops. Are spectators permitted to sue for damages? Fatality due to flying bike parts? If I drive my race bike into the side of a vehicle in the pits and both are damaged what happens? I didn't know the answer to those questions.
 

electrobiker86

Active Member
So, after many calls and conversations with a couple different agents: the agent I contacted said an insured bike that participates in a track day has voided their insurance. A spectator that pulls in on a bike and causes a claim would likely be covered. Agent did say that each insurance company has its own unique policy and to read the fine print, of course. Klondike insurance said that only one company would consider liability for a business at the track, and that was Nordic. I am just seeking theft insurance at this point, so I guess I will contact Competition.
 

rparsloe

Member
Consider giving Costen Insurance (Calgary) a call and explain what your criteria would be. I insure my road cycle with them for reasonable rates and if I which to ride a track day (rider improvement/training..) and not actually racing, have been told that insurance would be valid. Have not discussed what requirements may be for insurance of a race bike... Might be good to check with your home insurance Co. to verify fire/theft under household policy.
 

DEFBOY35

Well-Known Member
Consider giving Costen Insurance (Calgary) a call and explain what your criteria would be. I insure my road cycle with them for reasonable rates and if I which to ride a track day (rider improvement/training..) and not actually racing, have been told that insurance would be valid. Have not discussed what requirements may be for insurance of a race bike... Might be good to check with your home insurance Co. to verify fire/theft under household policy.

Be careful talking to your insurance company. State Farm red flagged my account because I asked about insuring my race bike for fire theft. Most will not insure fire theft without liability. I tried to explain it would never see public roads. Then tried to get the plpd was denied and then had to fight to keep my street bike insured as well because they void your insurance if you take it on a track. Which in my opinion is the biggest crock of shit ever. Asked if it's covered under the house and most will not because anything motorized is not covered under home insurance.
So looks like I'll be making a call to competition. And I will most likely switch everything to them.
 

electrobiker86

Active Member
Exact same story I was told Shane, and stuck in Limbo regarding getting insurance. There maybe some insurance companies that will insure for a track day, but at this point unless I can read that in the policy I am assuming the agent is blowing smoke up me ass to make a sale. I did inquire to agents that I normally do not deal with for the reasons Shane brought up.
 

Matt Stokes

Member
Great info. Thank you for digging into this. Insurance is a dark art. There never seems to be a simple answer. I am going to try to obtain public liability insurance for my race bike for racing and track day purposes. I will let you all know where it goes.
 

rpodgurney

New Member
Competition insurance was really good to deal with, good coverage for the approx. $350 they charge. Just ensure you read the exclusions. If you are transporting the bike it is only covered for theft if it is inside an enclosed metal trailer that is locked up, so no leaving it in the box of your truck.
 

blam

Administrator
Might be good to check with your home insurance Co. to verify fire/theft under household policy.
I was told because it's a vehicle, it has to have vehicle insurance for fire and theft....which is super lame
 

electrobiker86

Active Member
Great info. Thank you for digging into this. Insurance is a dark art. There never seems to be a simple answer. I am going to try to obtain public liability insurance for my race bike for racing and track day purposes. I will let you all know where it goes.
Hey Matt, When I searched around I was told by the agent that Nordic was the only ones who would do liability on track bikes, but I inquired from a rental company standpoint, not a rider.
 
Top