Question on Salvage Title & Track bikes ? - Chicagoland Sportbikes
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post #1 of 5 (permalink) Old 01-09-2004, 02:37 PM Thread Starter
Got my new Ride......
 
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Join Date: Sep 2002
Location: Naperville, IL
Posts: 959
Location: Naperville, IL
Sportbike: YZ250, GSX-R750 K1, ZX-7R (RIP)
Years Riding: Since I was about 10 yrs old
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Question on Salvage Title & Track bikes ?

I know that a salvage title basically tells you the bike was damaged and considered totalled by an insurance company. But what does this mean to you if you buy the bike ??

For example, if you buy a bike with a salvage title:
- do you just keep the title and head to the track ?
- are you still required to register it with the state ?
- are you required to insure it ? / can you still insure it ?

Lastly, is there any benefit to insuring a track bike if you do not plan on claiming anything ? For example, does it protect you if there is a liability issue on the track ??

Thanks for the feedback guys

- Sam
NESBA #749
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post #2 of 5 (permalink) Old 01-09-2004, 03:11 PM
Grasshopper
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You don't need insurance to ride on the track - Medical is a good Idea.

You should transfer the salvage title to your name.
post #3 of 5 (permalink) Old 01-09-2004, 03:17 PM
 
Join Date: Apr 2002
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This is all "my best understanding of the law" and might be way wrong....

1.) The title is your proof of ownership, if you buy a salvage titled bike you'd need to go to the DMV/currency exchange to get it transfered to an IL title in your name. Now you can head to the track and legally be the owner of your bike without fear of the state police impounding it.

2.) No, you cannot register a salvage title. You would need it inspected by the state and get a "rebuilt" title issued. This can only be done by a state licensed cycle rebuilder in IL.

3.) I doubt an insurance provider would issue a policy on a non-registered/salvage titled bike.

4.) Some guys carry coverage for off-track theft/fire damage to racebikes.... I don't think any of the liability coverage would apply but check with your agent/policy....???
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post #4 of 5 (permalink) Old 01-09-2004, 03:22 PM Thread Starter
Got my new Ride......
 
selston's Avatar
 
Join Date: Sep 2002
Location: Naperville, IL
Posts: 959
Location: Naperville, IL
Sportbike: YZ250, GSX-R750 K1, ZX-7R (RIP)
Years Riding: Since I was about 10 yrs old
How you found us: JimGoFast
           
Ok - that seems to make sense

Thanks fellas

- Sam
NESBA #749
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post #5 of 5 (permalink) Old 01-10-2004, 10:12 AM
 
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Did someone find a gixer for sale?
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