Insurance - track and racing cover - Sportbike Forum: Sportbike Motorcycle Forums
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post #1 of 19 (permalink) Old 12-28-2003, 09:09 PM Thread Starter
 
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Insurance - track and racing cover

Just been down NTUC renewing my bike insurance. I asked about medical expenses if I dropped the bike, and found there is none whatsoever.

For an extra $118 however, I got $10,000 worth of medical insurance and $100,000 worth of life insurance. This covers not only normal road riding but also racing and track days! (Extra 25% loading to do it!) Not only that but for an extra $23 I got it to cover my rock climbing too!

$10,000 is not exactly a lot of cover for medical expenses in this town, but its better than a kick in the teeth, and not bad value for track/racing!
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post #2 of 19 (permalink) Old 12-28-2003, 11:14 PM
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This is a first for sure.

Have been looking for medical insurance that also cover racing here in Singapore. I have been told several times that Singapore insurance companies don't cover such...

If they now have changed their mind, it would be a nice change in their risk management.

Thanks for the info, I'm just about to register my new bike (2004 Yamaha R6) and looking around for insurance. Have been quoted S$709.- for 3rd party, fire + theft for 1year with NTUC.

Bullet
"Here's to alcohol, the cause of many—and solution to—all life's problems.
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post #3 of 19 (permalink) Old 12-28-2003, 11:23 PM Thread Starter
 
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Nice suprise

It was a pleasant surprise for me! They need to call the underwriter to do it, there is a 25% loading for bikes, then a 25% loading for motor racing. When I signed on for it they told me that the 25% loading for motor racing includes motor cycle usage so I only needed to pay a single 25% loading! If you get my drift!

They told me a letter will arrive in a few days confirming all this cover. If it doesn't, I'll be having quiet words down Bras Basah!

So tell all about the bike! Wheredya get it, how much, what colour, how much did you pay them to take the old one away?! Was the gaffer tape holding the old one together worth more than the bike itself
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post #4 of 19 (permalink) Old 12-28-2003, 11:39 PM
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Talking FYI - I'm keeping the old nail !!!

Regarding racing medical insurance. Is it possible to get more coverage than $10'000 + $100'000??
I guess not, but just checking. Anyway, it is a cheap insurance for sure.

As the subject says, I'm keeping the old bike and will put it back in street spec. I'll be using it for commuting and for going back and forth to Malaysia.
My new bike is going to be for race only!!!
Anyhow, I bought the bike from Joe's at Sporting Motorcycles. Managed to get it at around $16'000 basis 2003 GST. Will hopefully be able to register it this week and "break" it in over the weekend.

In that respect, was thinking of going to Sepang for the track day on Sunday. As you might know it will be the 1st of only 2 track days before the F1 race in March as the track has been booked by all the F1 and MotoGP teams for testing...

Bullet
"Here's to alcohol, the cause of many—and solution to—all life's problems.
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post #5 of 19 (permalink) Old 12-28-2003, 11:45 PM Thread Starter
 
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Thats the limit

They have a few packages, but the max possible medical cover is $10k. The standard cover is 2k but you can bump it up at the rate of $3 per $1k to the $10k limit.

Why do you need insurance/registration for the bike if it is for race only? Are you getting race fairing/suspension blah blah?
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post #6 of 19 (permalink) Old 12-29-2003, 12:10 AM
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Re: Thats the limit

Quote:
Originally posted by Andy Capp
Why do you need insurance/registration for the bike if it is for race only? Are you getting race fairing/suspension blah blah?
Basically because I might later want to use it as my road-bike or sell it again as a road bike. The tax on bikes here in Singapore is so low that it doesn't make much difference. Also, need theft+fire insurance anyway. Sure I could get it registered it later, but I could not be bothered when I can do everything now. Also, I would like to be able to drive the bike around when breaking it in.

Yes, getting the race fairing and full exhaust + a power commander. Will wait a bit with the suspension. Understand that some of the guys racing the R6 in the AsiaPac series held on to the standard rear suspension...

Are you going to Sepang this weekend? Anyone else?

Bullet
"Here's to alcohol, the cause of many—and solution to—all life's problems.

Last edited by Silva Bullet; 12-29-2003 at 12:14 AM.
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post #7 of 19 (permalink) Old 12-29-2003, 12:17 AM Thread Starter
 
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Can't

Can't go this weekend, my leg is not strong enough yet. Thrown away the crutches, but not exactly sprinting!

Might or might not be out of the country on the 1st Feb depending on waitlisted flights.

Looks like it's going to have to be PG for my practice!
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post #8 of 19 (permalink) Old 12-29-2003, 12:21 AM
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OK

Have a speedy recovery mate!!

Bullet
"Here's to alcohol, the cause of many—and solution to—all life's problems.
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post #9 of 19 (permalink) Old 12-29-2003, 04:06 PM
 
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OOhhhhhhhhhhhhh .................. hope you got it in silver 'spurter' ... otherwise we'll all have to struggle to find a new name for you.

Not tempted to go for a 'real mans bike and buy the 04 R1 then ??

Ya big girly !!

Sepang on Sunday..... you riding up Sun morning ?? ....

Anyone not keen on Sepang fancy a blast to PG on Sat .. or Sun .. ??
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post #10 of 19 (permalink) Old 12-29-2003, 05:41 PM
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Quote:
Originally posted by Legend
OOhhhhhhhhhhhhh .................. hope you got it in silver 'spurter'
There were no more 2004 model Silvers in Singapore for this year, so had to choose between "Yamaha blue" and red. So to not look like a right wanker I chose the blue.

Quote:
Originally posted by Legend
... otherwise we'll all have to struggle to find a new name for you.
HAHAHA, right..!!!

Quote:
Originally posted by Legend
Not tempted to go for a 'real mans bike and buy the 04 R1 then ??
Ya big girly !!
Must admit I was thinking about it, but can't really justify the extra costs involved with a 1000ccm bike compared to the fun of competing in a 600ccm class...

Quote:
Originally posted by Legend
Sepang on Sunday..... you riding up Sun morning ?? ....
Depends on me getting my new bike registered in time...
Should be in order this week.

Bullet
"Here's to alcohol, the cause of many—and solution to—all life's problems.
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