This article, Life Insurance for Racing, will cover most of the vehicles that are typically driven:
Carriers, that provide Life Insurance for these kind of High Risk Activities will ask several questions and you’ll want to be able to provide answers.
A few of the questions are:
Auto / Motorcycle / Snowmobile:
Permanent / Temporary paved course. Is the course Oval? Hill Climbing , Drag Strip or Off Road?
For Boat Racers:
Closed course: Inland or Ocean. Or Open Ocean racing?
They will also want to know if the event is sanctioned by any regulatory body. If it’s sanctioned they will want to know what mandatory equipment is required so as to participate in the race.
Another question would be if you have had formal training. They will also want to know if this is your Occupation or Hobby. We also need to document all accidents, if any, that have required you to be hospitalized.
Lastly carriers will want to know about your race vehicle: Make, Model, Engine Displacement, Horsepower, Average Speed, Maximum Speed etc.
Once we review the above questions and gather a overall health review, I will take this information to my in house underwriter. We will review the information and choose some of our recommended carriers. I will then contact each carrier and review their underwriting guidelines and find the best possible fit.
This is a process and takes time. You must have a serious intent to obtain some coverage. If you are not ready , within a 30 day span, to obtain coverage, please wait before contacting me in regards to a quote. Things can change over a period of time and the last thing we want to do is to repeat this process over and over.
Obtaining a quote and even applying for a Life insurance policy is of no cost to you.
Fill out my request form or give me a call. 512-983-5000