Life Insurance for Racing

Bitnis

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Are there any carriers that will cover people who participate in motor sports racing?
 
Are there any carriers that will cover people who participate in motor sports racing?

You can usually find coverage depending on what type of racing it is. If they are part of a true racing league that has safety rules, regulations, inspections, etc. its easier.
If they are a weekend warrior at the local drag strip it can be a bit tougher.

Info, info, info is key. Put a cover letter with the app and explain to the underwriter exactly what they do and what safety precautions they use, from the track to the car...
 
I second Scagnt comments. When dealing with these type of activities you have to "macho down" quite a bit, which often is the reverse of why guys do these activities. Underwriters are naturally afraid of any activity that involves risk. So you need to really show how or what safety measures are taken to ensure the driver's safety.

I've sent league and track rules along with manditory equipment guides to underwriters to give them the best possible understanding of the activity.

I would strongly suggest this for any risky activity that you send to an underwriter. If you just go with the visual that the underwriter sits in a hole and is afraid of their own shadow, so anything extra you provide to help ease the underwriter out of his hole into the real world would help your case.

Don't assume the underwriter fully understands the activity involved. If you don't provide information to help them, they will go from their knowledge base, whose biggest influence might have been a movie.
 
Don't assume the underwriter fully understands the activity involved. If you don't provide information to help them, they will go from their knowledge base, whose biggest influence might have been a movie.


Very true statement. And if all you do is check race car driving on the app, the underwriter has no idea what kind or how involved they are in it, so by default they must protect the company and assume the worst.
Frequency of racing is big to. Is it every week, or just a few times per year.... they have no clue unless you tell them.
 
One of my favorite underwriter discussions was over a client who in a very manly tone said "I mountain climb".

Tell me about it?

"Well, we get into the snow cat and drive up to the snow line on Mt. Rainer. Then we get out and walk up the slope about 50 yards and they have a blanket with cheese, strawberries and champaine for us."

Next morning I'm on the phone with the underwriter explaining this client's "mountain climbing experience". Not so much the "Eiger Sanction" as it was a drive to the snow park to play.
 
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