Risky hobbies = higher premiums
Whilst thrill-seeking can be fun, it might not seem such a laugh when it comes to securing affordable life insurance.
Insurers tend to charge much higher monthly premiums for those who they consider a high risk (or impaired) because of their lifestyles.
For example, a stamp collector is statistically likely to live longer than someone who regularly skydives.
This means the skydiver will pay more for their policy cover because, from an insurers perspective, a claim is more likely.
However, whilst premiums will inevitably be higher, costs can vary significantly between insurers.
To ensure you secure the most suitable cover, for the best possible price, it’s vital to compare quotes.
Which hobbies are considered high risk by insurers?
If you take part in extreme sports, such as base jumping or hang gliding, you probably already know that you’ll be on the insurer’s risk list.
However, some more innocuous activities, such as surfing, can also attract higher premiums. Just some of the activities which are classed as high-risk hobbies by insurers include:
- Track days
- Motorbike racing
- Competitive go-karting
- Quad biking.
- Scuba diving
- Some types of boating
- Deep sea fishing.
From the sky:
- Hang gliding
- Hot air ballooning.
- Rock climbing
If you take part in dangerous hobbies which could put you in the high-risk category, it’s a good idea to compare multiple quotes as some insurers may penalise you more than others.
At Reassured we can save you time and money by comparing a wider range of UK insurers on your behalf – at no cost.
By comparing quotes from the UK’s leading providers, we can help you find the cover you need at the most cost-effective price, even if you do choose to spend your weekends being a daredevil!
Starting a new risky hobby
Deciding to partake in a new risky hobby once your life insurance is already in place does not invalidate your policy.
As long as you were truthful at the point of application, it is not necessary for you to declare uptaking a new, yet dangerous hobby.
However, it could still be in your benefit to inform them in case it causes your death.
If you were to pass away as a result of your new hobby, your insurer could contest the claim (during the first 2 years of the policy) and your beneficiaries could risk being denied a pay out.
This is because the start date of your new hobby will not have been documented and therefore, it could be deemed that you lied at application.
Why use Reassured to help you compare life insurance quotes?
- We have many years of experience working with major insurers and smaller specialists
- We understand the different criteria employed by insurers
- We’ll scan the market on your behalf, identifying the most competitive quotes
- We’ll save you time and could save you money too
- We have a dedicated in-house impaired risk team
- 20,000+ people cannot be wrong! We have an ‘Excellent’ average Trustpilot rating of 9.6/10
- We’re independent, impartial and never charge a fee
- There’s no obligation to take out the cover we find
- We’re non-advised – meaning we just listen to your budget and needs, before finding you the best policies.