Life Insurance??

[jonathanc]

OKey dokey,
I need to update my life insurance policy and was wondering whether anyone has ever had any problems getting insured if you take part in club level motorsport?

Be interested in any feedback and or recommendations.
Rgds
Jonathan

[jamo]

Had no problems (either time).

Just disclosed main details about my racing - the fact that it was circuit racing, the organsing club, the name of the championship, licence grade, number of events pa, number of test / track days pa (estimated) etc

Can't remember who the insurers were though :confused:

No grief, no queries ...

Would guess that other people do lot's of other far more dangerous things than racing - and don't disclose ...

[simon drabble]

I was told that so long as its under 2 litres no special cover was required

[Adam43]

I had to disclose the details (very similar to jamo's) of the circuit etc... and it did put the premium up a little.

As far as I know it isn't that dependent of car and engine size - well no car is exempt! I know a lot of cars that have smaller than two litres, but go much quicker and are much flimsier than mine. If it is the case it shows the insurance companies know very little about this (its not that uncommon).

Oh and it is probably best you do disclose it. Afterall what if something did happen, you don't want to give them an excuse to not pay.

[Tim Falce]

I got life insurance for a mortgage and declared what i do.
Premium was unaltered. I had to tell them exactly what I race and where. they wanted £160 pm for my wife cos she had C 6 years ago though

[Richy_Rich]

Pretty much the same for me, I was asking an actuary friend of mine about this and he reeled off a list of statistically worse ways to spend your time...

[Woolley]

A survey a couple of years ago listed the three most dangerous sports as:

3) Horse riding
2) Squash
1) Fishing

Apparantly lots of people electocute themselves with carbon rods and overhead wires. Motorsport was about 5th, I think.

Back on topic, there's no queries about marshals or officials either as far as I'm aware.

[DAVID PATERSON]

I declared it when I was forced to take out Life insurance when taking out a home loan. They made a specific exclusion. I'm not covered while i'm racing, but I'm covered at any other time. No change to premium or excess.

[simon drabble]

the 2 litre issue was flagged by my life insurance company but given the replies here I am going to chack again. i agree with your comments about the speed of sub 2 litre cars, when I compare the lap times of my Eleven against bigger engined saloons it does make a mockery ofit all. So do you give them a copy of your racing itiniary at the start of the season or do you have to take out seperate insurance each race?

[Warwick]

Same as David P,I am not covered while racing,I have taken out a seperate policy which covers me for everything short of death.

Personally I hope I don't ever have to collect on it.

[Peter Mallett]

Declared it and no increase. Funny enough you do get clobbered if you are a Co driver in a rally car. Its something to do with control of the vehicle.

I was concerned recently with my proximity to Iraq. Apparenlty if I'm killed by acts of war or aggression performed by a state my insurance may not have to pay out!

Nice!

[Neil C]

...he said, humorously.

For most of my racing days, I worked for a US life insurance company. I paid a small percent extra for my daring lifestyle. They would not insure pro drivers at any cost, but back in the mid to late seventies, who could blame them?

There are some other interesting occupations that insurers were reluctant to carry, like restaurant owners that had liquor permits. I think it had to do with organized crime.

[jonathanc]

Many thanks for all your advice. Ended up applying with Norwich Union here in the UK and they have just sent me a Motorsports questionaire. Very straight forward, but interestingly they wanted to know if I was sponsored or not. Fingers crossed.