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Race/Track bike insurance

Discussion in 'Racing, Motorsports, and Track Days' started by Beast, Feb 10, 2009.

  1. #1 Beast, Feb 10, 2009
    Last edited by a moderator: Nov 15, 2014
    Does anyone out there insure their race or track bikes for fire and theft?

    I recently picked up an R6 track bike and I want to insure it but it's not covered under home and contents for some stupid reason and most other insurance company's wont touch it because its unregistered.
    I have been able to get 2 quotes ($6500 value):
    QBE $319 and Shannons $500+.

    Now that seems a lot of money for fire and theft on something that spends 360 days a year in a locked shed. I'm comparing that to full comp on my 250 which before a little disagreement with a truck was ~$450/yr and about $6000 cover.
  2. My SV650 costs about $400 /yr for $10,000 insured value. Not a great deal, but I can afford the $400 more easily than the $10,000.

    My insurance is a 'Laid Up' policy and the bike is insured just about anytime, as long as I'm not riding it. Apparently it covers loss whilst on the trailer as well.

    It comes down to what you can afford.

    BTW, it's with Shannons.

    Sods law says the day I let the policy lapse is the day it's stolen.
  3. gday beast welcome to netrider and please ignore the cranky old men :wink:

    Sounds a litle steep to me considering its only fire and theft maybe keep ringing around.Still though if you cant afford to loose it just pay the $400.Also consider there is a risk of binning it on the track too so there is always risk involved with racing.
  4. ^^^^^^^^

    LOLZ :LOL:

  5. Hey Beast, no insurance tips to offer but, just ignore that NR having a midlife crisis! :LOL:

    Not all NR's are as grumpy as that one :roll: :grin:
  6. Well sorry for posting a stupid bloody question.

    I'm not an idiot! insurance companies cover small motorcycles under home and contents but not mine (ok thats fair enough) BUT then wont touch my bike with their motorcycle insurance because its unregistered. WTF am I supposed to do?

    And comparing my 250 to my 600 is not chalk and cheese... they are motorcycles! if I was asking about cheese I would have found a cheese forum. I just figured that if I could get full comp on my 250 for that much why does it cost so much to insure something that never gets ridden for theft?

    There is no need to be a jerk but if thats the response that I'm going to get good riddance netrider
  7. That insurance companies cover small motorcycles under home and contents is news to me. Even pitbikes aren't covered. If you do know anyone who will, please let me know.

    Why does it cost so much? Essentially because it's very high risk. Like all motorbike insurance it's expensive because the chances of them making money off it are less. Simple really.
  8. You need to shop around. Make sure you get quote numbers and tell them what ever the best so far has offered.

    Risk, insurance companies are all about risk. Since essentially isurance is simply a betting game. An R6 is going to be a much more attractive bike to take over any 250cc. And theres a few there so making it disapear woudn't be overly hard.
  9. I can only count one negative response, dont tar us all with the one brush

  10. You need to be asking insurance companys about transportation insurance.

    I had a race car that was insured for fire, theft and damage during transport. If it ever touched the road outside of a race track under its own power, they wouldn't insure it.

    Start with Shannons, They do it. Make sure your speaking nice and clear on the end of the phone.

    Oh and don't mention anything to do with house insurnace, its fire, theft and transport.
  11. Well, you only have one quote then, because QBE will only do unregistered dirtbikes. Trust me on this :grin:
  12. Suncorp wont cover uninsured bikes either.
  13. The Shannons insurance I have is 'Laid Up'. I really liked the cover for when it's on the trailer.
  14. But to go through shannons you also have to be insured with IMR first, these days anyway.

    They are also scaling down their bike insurance and moving away from Sportsbikes so you might have a tough time. Very good insurer to go with if you meet the criterea though.
  15. Geez ISCN go take a chill pill!

    This forum is full of newbies with what often seem like dumb questions to more experienced riders, but to them they're not!

    The welcome lounge should take them to the search page first so that they know it exists maybe they should have to do X number of searches before posting like they do with PM's!

    Anyway back on topic! Try RACV they're underwritten by NRMA & will insure un reg bikes as long as they're not on the actual track or doing anything illegal like being ridden on the road! So fire, theft & transport only! You don't even have to have a licence or correct licence to ride that bike as it it's presumed it won't be ridden on the road! Good Luck & hopefully some of the less grumpy netriders have helped with your question!
  16. My unregistered GSX-R750 track bike is insured for fire and theft with Arista. It costs me $270 per year, but the policy stops covering it as soon as it goes on a trailer or hits the track. Arista was recently acquired by Famous Motor Insurance - they wrote to me and let me know that my policy remains the same, but we'll see what happens when it comes up for renewal.
  17. Oh, and you can also get a discount with JLT through MA:


    Like the Arista policy, you insure your track bike under the "dirt bike" policy. It is only "dirt bike" in name, as they use it to insure any unregistered bikes. The JLT policy also covers you during transportation.
  18. I see you deleted your reply in the MR thread ISCN in regards to the abhorent Race starts are at the lights etc. You complained about them IIRC. Most of Us do not want them, yet here you are promoting the MR to a forum member with the Race starts as a high point.

    Go the double standards.

    I do believe it was aaround page 365-370, and only what is quoted of your original reply is left.
  19. My guess is he was being sarcastic
  20. Ya think? :idea: Thera, have a cup of coffee and then read it again ;)