insurance

[tom_motox]

do i need to insure my motocross track? i have a disclamer which states that i willnot accept any responsibility for damages to riders or machines, is that enough?

 

[oldguy]

This would be a completely foreign ;) situation for us here in the US to answer. Your liability laws and practices in the UK are probably very different. In the US I would say you are crazy not to insure

 

[tom_motox]

i thought that but the insurance prices are crazy

 

[tom_motox]

if anyone from the uk has any anwers i would like to know. PLEASE.

 

[JST122]

Who do you plan to have riding on your track? Is it going to be a public track or is this just your private land and your private track that just you and your close friends will use?

 

[FruDaddy]

You should probably consult an attorney that is familiar with local liability and land use laws.

 

[tom_motox]

ok thanks for the advise

 

[tnrider]

ask your business/liability attorney how to structure ownership of track. in US there is some benefit to doing things like you own property personally and then lease to a corporation (yours) that owns and runs the track. corporation may be able to limit your personal liability somewhat esp if you have special corp directors insurance. corp gets sued and goes under but you are limited in your exposure to only corp assets (and you keep little corp assets, everything is leased from you personally or from another of your corps - multi-layers just like major corporations). i have been through things like this before but can't recall all details -- like others said, get a good attorney, i am not even a bad one :) , and ask for ways to limit your personal liability exposure. a good attorney is well worth their fee!