As an avid biker, don’t you like to go on bike track days with your friends? Track days provide an excellent opportunity for bikers to improve their riding skills. It also helps you understand what your bike is capable of in the absence of traffic. Usually, most motorcycle insurance policies don’t cover your bike when you use them on track days. But that doesn’t mean you don’t need coverage because accidents don’t come invited.
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Importance of Motorcycle Track Day Insurance
Most people don’t know whether their regular motorcycle insurance cover track days or not. In most cases, they don’t. Since there are no speed limits on motorcycle tracks, you tend to push the bike’s limit to the fullest. You may ride at speeds that are usually illegal on the streets.
For example, one of the fastest bikes, Honda Fireblade, has a maximum speed of 178 mph. This makes track riding highly risky. That’s why insurance companies don’t provide coverage on accidents at a track.
However, that doesn’t mean you can’t get track day insurance. Although this is not a mandatory policy, you should get one to protect yourself from unforeseen incidents. The premium is slightly higher than regular motorcycle insurance, but it doesn’t exceed the price of your life.
Riders aged 69 years or below can avail a motorcycle track day insurance. However, you should be registered with one of the renowned medical practitioners in the US. Also, you must be a permanent resident of the country to become eligible for this type of insurance.
Your regular motorcycle insurance policy may not have the details of track day coverage. So, if you are buying it separately, you should know what it covers.
Depending on the insurance policy you choose, your medical and insurance coverage can go up to $10,000,000. An accident outside of the US requires more money, and that’s why the coverage amount varies. You should compare the amounts from different insurance companies before choosing a plan. Some of them also provide up to $50,000 for searching and rescuing costs after an accident. It is better to go through the plan in detail before signing.
Independent riders also have the option to extend their coverage in case of international incidents. Some of the additional extensions that insurance companies in the US allow are delayed departures, accommodation expenses, and travel disruptions. Natural disasters also come under travel disruptions, and you can add it to your policy.
Track day equipment insurance
Many riders carry specialist activity equipment on track day rides. In case of accidents, they may damage this valuable equipment. So, the motorcycle track day insurance covers up to $1,000 for the rider.
It also provides an additional $600 coverage for single equipment in case of accidents. However, if you think this amount is too low, you can increase it to $10,000 for a person and a further $1,500 for a piece of equipment.
You need to pay an extra premium to get this benefit. But, it is not applicable for annual multi-trips. You can increase the track day equipment insurance only for single trips.
How many track days do you go for in a year? Single trip insurance coverage costs significantly less than annual multi-trips. If you are planning a one-off break, you should stick to the single trip coverage.
On the other hand, you should choose the multi-trip policy if you go for multiple outings. It will cover motorcycle track day insurance for 60 days from the day you confirm the policy. You may go on as many track days you want within that period.
The advantage with single trip coverage is it lasts for up to six months. So, you not only have to pay less but also get extended coverage.
Types of motorcycle track day insurance
There are two types of policies: single trip and multi-trip. As already mentioned, single trips usually last for six months while multi-trips last for 60 consecutive days from the day you sign the policy.
How to Claim Your Insurance?
Want to claim your motorcycle track day insurance policy after an accident? You can call or email the company and inform them about the incident. The claiming process varies in different companies. However, you may need the following details to speed up the procedure:
- Your contact number and an emergency contact number.
- Your policy number.
- Details of the claim.
- Relevant photos.
It is essential to produce photos of the accident as proof. This helps to avoid complications that may arise when you want to claim your money from the insurance company. It is tough to take pictures after an accident. However, some insurance companies prefer to take a look at what happened.
Reducing Premium Costs
Premium costs are usually quite high for a motorcycle track day insurance in the USA. It is best to compare the coverage amount of different companies against the premium before choosing one of the policies. There is, however, another way to reduce your premium costs. If you are on a multi-trip package, downgrade it to a single trip policy.
If you go on track days once or twice a year, there’s no need to pay an extra premium for multi-trips, especially when they last for 60 days only. A single trip policy is not only cost-effective but also has a longer duration.
So, choose a policy according to how many times you take your bike on track days. It will save a lot of money in the long run.