Life Insurance for Race Drivers

[rustybin]

I recently advised my life insurance company that I had given up smoking and noticed on the form that I should advise them if I take any 'high risk activities' which I would suppose could include motorsport. Have other clubby racers advised their life insurance company on taking up the sport and if so what difference did it make to your premium?

[Paul Dishman]

I never bothered informing them. It was probably more dangerous driving to the circuit..

[RacerMDR]

i told mine - made no difference. If you aren't professional its seen as a hobby like horse riding or fishing (both much more dangerous)

[taffyracer]

RacerMDR said:

i told mine - made no difference. If you aren't professional its seen as a hobby like horse riding or fishing (both much more dangerous)

Not sure that is correct, I had to find specific insurance to cover Motorsport, even as a hobby it is seen as being dangerous and adds extra risk.....i would look into that if I was you!

[SubaruSteve]

My financial adviser checked with my existing policies and because I had taken up motorsport after the insurance had been taken out there was no problem. However new policies are a different story and club motorsport does make a difference, and some will not insure for it.

[sanf]

SubaruSteve said:

My financial adviser checked with my existing policies and because I had taken up motorsport after the insurance had been taken out there was no problem. However new policies are a different story and club motorsport does make a difference, and some will not insure for it.

This for existing policies - but even on my new policies - each time I declare my hobby, and am then asked to fill a specific form, because I am only doing club level it has never made any difference to my policy total. I always make sure I am covered....just in case .

[bqf]

I advised Aviva when I got my race licence - they sent me a note back to say thats fine - no premium adjustment or restriction to cover.

[dalenorth]

Hi, each insurer is different and you really don't want to give them a reason not to pay out!

We specialise in this type of insurance, so pm me if you want any specific advice?

[StainlessSteve32]

I pay £25 a month extra on mine, it would be a bit unfair on the missus if I splatter myself, especially as I've never saved anything due to bike and car racing.;)

[LordHaveMurci]

I had two policies, both specifically excluded Motor Racing so I had no cover during events. I had no problem with that at all, as said above, driving to events is probably more dangerous anyway!

[Obiwonkeyblokey]

Interesting thisone as my premiums went so high I ad to take out an additional policy for racing. could I have some recomendations for life Insurance from you guys who have not had to pay any more or only a nominal amount. thanks

[taffyracer]

maybe it has somnethging to do with the level of cover, i went to 4 insurers who wouldn't allow Motorsport within their terms, trackdays yes but not competition, i had to pay an extra £64/month for mine

[rustybin]

Thanks for the responses guys. I shall speak to mine (Zurich) and see what occurs. Worst case scenario is doing meself in and the insurers trying to wriggle out of it afterall.

[drmotorsport]

Got a quote for my life insurance with L&G years ago, but forgot to mention the club racing. Amended the quote a few days later and it actually went down slightly!

[pistol pete]

Mine didn't make alot of difference to the price, but restricted the choice of companies who would give a sensible quote.
We ended up with Zurich for Life & critical illness & Exeter for income protection.

[rustybin]

Heard today that my insurers (Zurich) are fine with it. (I described it as amateur circuit racing.)