This happened to my brother-in-law a couple of months ago with his bike. He just had it towed back to his house by a friend and claimed he didn't know exactly where it happened. He gave them a general area. No police report. They covered his bike and all of the aftermarket parts he had receipts for.

Definitely a risky way to go about it being that it is technically insurance fraud but it works if you are willing to try it.

Most insurance companies, including mine, have now closed the HPDE loophole. My last policy update had addendums that now include 'any use on a track that tests the car's abilities with our without timing or competition.' The clause is targeted specifically at HPDEs.

Yep. My policy excludes any activities on a racing surface.