Did you have collision and drop it, or never had collision on it? Considering dropping collision on mine since it's looking more and more like track-only.
I bought an SV1000s when I first got back on two wheels and had comp and collision on it. I think I paid $3500 for it. About nine months later I managed to put it into a fence which bent the front wheel, the forks and front plastics. I know they would have totaled it and with a $500 deductible I might have come out of it with $2500 and no bike.
Weighing on the decision as to whether I wanted to make a claim was that I had another bike and several cars so any insurance claim surcharge would hit them all, plus I wanted to fix the bike.
I ended up fixing it myself for $1200 in parts with a used wheel and forks plus new plastics, rode it another year and a half and sold it for $3k.
Long story, but I realized it was not worth having collision on a sub $6k bike that I paid cash for. Even with a bad crash there is at least $1k of salvage value unless it burns to the ground.
Otherwise, I'll accept the risk if I wad it up, but if it is stolen, vandalized or the garage catches fire, etc. I'm covered. There are no insurance surcharges for comp claims.
You might also consider whether your collision covers the bike at the track. More and more companies are not covering that exposure.