If you have thought about racing your motorcycle or want to buy a bike specifically for that purpose, your current motorcycle insurance in Richmond, VA, won’t adequately cover the risks associated with the activity. Cary-Wheeler & Associates Inc. can help you select a specialized insurance policy to cover the risks associated with racing.
Why Standard Motorcycle Policies Won’t Apply
Standard policies become useless once you hit the track because they have strict exclusions for racing and speed contests. If you crash while on a track, your insurer will deny claims for damage to your bike and gear, as well as any medical payments for injuries. In addition, if you attempt to file a track crash under a standard street policy, it may be flagged as insurance fraud, putting you at risk of losing your policy.
Your Options For Racing Coverage
The type of policy required depends on whether you only practice with your bike at high speeds on a track or do true competitive racing. If you engage in activities such as a high-performance riding course or take your bike to a track to practice cornering, you need a Motorcycle Track Day policy. This covers physical damage to your motorcycle and minimal coverage for your riding gear.b Such coverage applies only if the event is non-competitive, there is no official timing and no transponders on the bike.
If you engage in true competitive racing, you need a Motorsports/Race Bike policy. These policies provide storage and transit coverage. If you include onsite crash coverage, note that it is highly expensive. Many amateur racers choose to simply pay out of pocket if a crash occurs.
The experts at Cary-Wheeler & Associates Inc. will gladly help you decide the best motorcycle insurance for your needs. Contact our Richmond, VA, office today.