Motor Sports Life Insurance
Sports Financial is an insurance broker with a difference; we specialise in assisting clients who are deemed “non-standard” in the insurance industry due to their participation in a particular sport or pastime. We can assist you by finding you the appropriate cover, such as critical illness cover, income protection, and life insurance for motorsports.
Specialist Motor Sports Life Insurance Cover
It’s crucial to understand that engaging in extreme sports and hazardous hobbies, such as motorsports, are likely to necessitate additional underwriting when applying for life insurance and other personal protection plans. Nevertheless, ensuring that you have adequate coverage regardless of unforeseen events remains a top priority. Fortunately, life insurance, critical illness coverage, and income protection policies for motorsports enthusiasts are typically attainable without any issues, as long as you are not pursuing a career in professional motor racing.
Some of the main types of motorsports:
- Track Days (Cars/Motorbikes)
- Circuit racing (Cars/Motorbikes)
- Stock car racing
- Motocross (Motorbikes)
- Adventure/Enduro (Motorbikes)
Each activity will vary for Motorsports life insurance, critical illness cover and income protection depending on your level and which type of vehicle you drive or ride.
What Does Life Insurance Cover?
We often find that cover for Motorsports is available with no major issues in getting the cover and also no major impact on the premiums you will pay. For people taking part in amateur events (e.g. track days) you should be able to get Motor sports insurance at the insurers standard rates with no real need for additional underwriting. There are several major factors which would be taken in to consideration by underwriters when assessing an application for Motorsports life insurance, including:
- How often do you race
- What type of vehicle do you drive/ride and what CC is it
- Do you race amateur, semi-professional or professional events
There are a number of other factors which would be taken in to account when looking at life insurance for motor sports, such as:
- Level of cover required (sum assured)Do
- Term of cover (years)
- Type of cover (e.g. Decreasing, Level, Whole of Life etc.)
For advice or a quote on specialist life insurance for motor sports you should contact one of our team of experts today.
Motor Sports Life Insurance VS other protection
Motorsports critical illness cover
Generally, it is also possible to get Motorsports critical illness cover for most of the clients we deal with based on their individual circumstances and the amount of times they take part in any motor racing. If you are involved in more frequent racing or if you are a semi-professional/professional racer then you may find that Motorsports critical illness cover could result in policy exclusions or premium loadings.
Possible exclusions for Motorsports critical illness cover are:
- Any injury or health issues resulting from motorsports
- Total and permanent Disability cover
The amount you pay for Motorsports critical illness cover will also depend on the usual health and medical factors as well as the amount of cover you need. You should also consider that Motorsports critical illness cover can vary from one insurer to another so it is important to check your policy wording before agreeing to start a plan.
Motorsports income protection
The main additional factor which would be brought into consideration for Motorsports income protection over the other types of policies would be your occupation and whether you have had any time off work recently. We often find that Motorsports income protection is available and can often be obtained from standard rates with no policy exclusions.
How can Sports FS Help with Motor Sports Life Insurance and Cover?
Sports Financial Services help our clients because we have a deep understanding and expert knowledge in the area of finance for extreme sports. We are here to help with enquiries regarding a variety of motor sports enthusiasts in need of specialist life insurance, critical illness cover and income protection. Our specialist knowledge in sports will allow us to work with you to discuss the options available and help you choose the right insurance to suit your needs.
To get expert financial advice or to make an inquiry, please do not hesitate to contact us and get a quote.Get a no-obligation quote
Frequently Asked Questions About Motor Sports Life Insurance
Why is motor sports classed as high risk?
If you are someone who enjoys the thrill of sitting behind a wheel and zooming off along a track, you won’t be surprised to learn that motor sports are classed high risk. Some of the main risks of motorsports include; dehydration, overheating, burns, injury and the potential of death. These risks are caused by the length of time and speed involved with motor racing.
Do I need specialist cover for motor sports?
As with any extreme sport, life insurance is not necessarily essential for you to participate, however it is something we would always recommend. This is because specialist life insurance ensures that you have the correct level of cover for your motor sports activity and at the best rates. If this is something that you have been considering, it may be worth getting in touch with Sports FS.
How much does motor sports life insurance cost?
With Sports Financial Services life insurance for motor sports can cost £18.70 a month. However, this varies depending on your age, health and the type of cover you need.
What does Motor Sports life insurance cover?
MotorSports Life Insurance typically covers accidental death, dismemberment, and disability resulting from motorsport-related accidents. Some policies may also include coverage for medical expenses and hospitalization resulting from such accidents.