Agent Owner, Gilmore Insurance Services, Marysville, Washington State
Can race care drivers get life insurance? Yes, race car drivers can by insured. There may an extra risk charge attached to the policy. It depends on the situation.
Having placed race car driver with a life insurance company, what we made as a point of providing a ton of extra information about the actual safety of the racing curcuit.
Race car drivers can buy life insurance. It's important to disclose this profession (or hobby) upfront when purchasing a policy. Many insurance companies have specific forms to complete when applying for coverage. These forms are designed to provide the insurance company with the details of the driving activities. Using those details, the insurance company will make a decision on whether or not they will insure that race car driver and how much extra that person may pay because of the risks involved.
Life & Health Insurance Agent, The Tooker Agency, Riverhead NY
As with most hobbies or recreations, motor sports has a wide variety of types and levels of participation. The impact that race car driving will have on your ability to get a life insurance policy and the terms of that policy will depend on the specifics of your particular type(s) of racing.
Racing in sanctioned sports car club events or in a hobby stock division at a local short track will have no impact on your ability to get life insurance. Being a test driver for an F1 team will make you uninsurable through any standard life insurance company.
This is another great example of why getting life insurance as soon as you are able can be such a good idea. People rarely start racing at very dangerous levels. Similar to the way your chances of having health problems increases with age, to some extent your opportunity to have risky hobbies also increases through your twenties and thirties.
It generally takes some amount of career and financial success to afford many of these avocations. Fast cars, fast boats, airplanes, mountain climbing vacations and the like all require money that usually comes a little later in life. By getting a good amount of inexpensive insurance when you are young, you may avoid paying for some risky behavior you pick up down the road.
Just a little food for thought you future dare devils :)
.JPG){kind=avatar}
Having placed race car driver with a life insurance company, what we made as a point of providing a ton of extra information about the actual safety of the racing curcuit.
Racing in sanctioned sports car club events or in a hobby stock division at a local short track will have no impact on your ability to get life insurance. Being a test driver for an F1 team will make you uninsurable through any standard life insurance company.
This is another great example of why getting life insurance as soon as you are able can be such a good idea. People rarely start racing at very dangerous levels. Similar to the way your chances of having health problems increases with age, to some extent your opportunity to have risky hobbies also increases through your twenties and thirties.
It generally takes some amount of career and financial success to afford many of these avocations. Fast cars, fast boats, airplanes, mountain climbing vacations and the like all require money that usually comes a little later in life. By getting a good amount of inexpensive insurance when you are young, you may avoid paying for some risky behavior you pick up down the road.
Just a little food for thought you future dare devils :)