Insurance Companies Close Track Day Loophole

10/20/2008 @ 10:42 pm, by Jensen BeelerComments Off

Insurance Companies Close Track Day Loophole mc7094uf1rd2

Not that insurance companies give motorcyclists a lot of love when it comes to coverage claims, but things are about to get a bit tougher when looking for a little compensation for that weekend wreak. The New York Times is reporting how insurance companies are redefining what a track event is, and lumping any sort of incident on race courses as being an automatic claim denial.

While the changes are really affecting track day goers who prefer four wheels, it gives a glimpse into where the industry is headed as far as risk management. There is a silver lining though. The crackdown has opened up a market for track oriented underwriters. These policies are still costing a premium for car owners, but should they become available for motorcyclists, it should cost a reasonable enough price to gain traction in the marketplace. 

Maybe those AIG guys aren’t so bad afterall.

Source: New York Times via Autoblog

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