Risky hobbies, higher premiums
Whilst thrill-seeking can be fun for the person involved, it might not seem such a laugh when it comes to getting comprehensive life insurance cover.
Insurance companies charge much higher premiums to those who they consider to be a high risk (or impaired) because of their lifestyles.
As much as this might affect a smoker or someone overweight, it can also affect people who indulge in dangerous sports and hobbies in their spare time.
A stamp collector is statistically likely to live longer than someone who regularly goes skydiving, and from an insurers point of view, this means they’ll have to pay more for a policy.
Which hobbies are considered a risk?
If you take part in extreme sports, such as base jumping or hang gliding, you probably already know that you’ll be on the ‘risk’ list. However, some more innocuous activities, such as surfing, can also attract a higher premium.
Just some of the activities which are classed as high-risk hobbies include:
- Motorsports: Track days, rallying, motorbike racing and even competitive go-karting can all make you a risk to your insurance company
- Water sports: Scuba diving, surfing, some types of boating and even fishing can put you on the risk register for life insurance
- Aviation: Gliding and flying are both risky pursuits, as are anything that involves jumping out of a plane such as skydiving and parachuting. Even hot air ballooning can be a high-risk activity
- Outdoor pursuits: Rock climbing, abseiling, canyoning and mountaineering will all be risky activities to your insurer. Hunting, shooting and fishing can attract higher premiums too, as can anything involving horses or other large animals.
This is just a sample of some of the activities which can be considered to be a risk, but the definitive list will vary from one insurer to another. If you think you might take part in hobbies which put you in the risky category, it is a good idea to shop around for quotes as some insurers may penalise you worse than others.
Your occupation may also be regarded as ‘high risk’ by insurers, again resulting in higher monthly insurance premiums.
We’re never beaten on price, and will ensure you don’t pay over the odds for your life insurance, even if you do choose to spend your weekends being a daredevil!
To request a quote from us call our Reassured consultants on 0808 168 2025, who will be able to help you find the right policy for your exact needs. Alternatively Start Your Quote online today.