Motor Sports Life InsuranceFacts about motor sports life insuranceAre you involved in activities such as motor sports? If so, what support do you have in place in the event of an injury? Injuries can be anything from a few scratches to life limiting fractures causing a permanent disability.This is where motor sports life insurance can support you, your future and finances. Whether this is a pastime, or your classed as semi-professional, ensuring you have reliable life insurance, income protection, critical illness cover and travel insurance is a necessity.We are sure you’d like many more track days with the knowledge that you are protected against personal accidents. Contact our team today to progress your motor sports life insurance policy. 01244 732 890How much does motor sports life insurance cost?When applying for motor sports life insurance, insurance providers will want to know the type of vehicle you drive, along with the regularity of your hobby. Both factors will influence the cost of your motorsport insurance.If taking part in motor sport activities is a hobby for you, it is highly likely that standard rates will be offered when applying for motor sports life insurance. However, if your activity is classified as a hazardous pastime, either an increase of premiums or exclusions related to motorsports may be added to your policy. The decision will be offered to you and based off your individual circumstances, such as budget, when applying for motor sports life insurance.We highly recommend running through your personal requirements with our team today! They will be able to guide you in the right direction when applying for motor sports life insurance. 01244 732 890Your premiums for motor sports life insurance will depend on: The type of vehicle you drive, along with the extent of your activity – hobby or semi-professional. Your individual circumstances, including your budget. The type of insurance product you’re looking for – (Income protection, critical illness cover, travel insurance). The term of your motor sports life insurance policy.Percentage (%) loading for motor sports life insuranceWhen applying for motor sports life insurance, insurance companies will use a percentage loading strategy when calculating the risk of your motorsport activity. This is where an additional percentage will be added onto your premiums. Please be aware that percentages will vary depending on your selected provider when applying for motor sports life insurance.Per mille loadings for motor sports life insuranceA further strategy used by providers which you may experience when applying for motor sports life insurance is ‘per mille loading’. This is where an additional cost will be added onto your premiums based on the amount of cover you apply for.To discuss how both strategies can affect your premiums when applying for motor sports life insurance, contact our team today on 01244 732 890.Exclusions for motor sports life insurance, critical illness cover, income protection or travel insuranceWhen applying for motor sports life insurance, critical illness cover, income protection or travel insurance, you may also experience ‘exclusions’. Exclusions will be conditions or injuries which are linked to your motor sport involvement. Depending on your individual circumstances, providers may include exclusions to your policy.How much cover do I need?When considering motor sports life insurance, critical illness cover, income protection or travel insurance, it is difficult to give clear guidance on this. However, once providers understand the type of vehicle your drive, along with the level of risk linked to your activity, a recommendation will be provided. In the meantime, here are factors you can consider prior to applying for motor sports life insurance:Motor sports insurance amounts of coverIf you are looking for motor sports life insurance, the required amount of cover will depend on your personal circumstances, including budget. If this activity is a general hobby for you, life insurance will be offered under standard rates. However, if your activity is classified as a hazardous pastime, either increased premiums or exclusions will be applied to your life insurance policy. Here are some factors to consider prior to applying for motor sports life insurance: Mortgage amount (£’s) Outstanding debt (e.g. Loans, second charge, credit cards and other) Dependents Spouse or Partner Income (after Tax) Assets (e.g. car, house, business etc.)Contact our team today to run through your personal circumstances when applying for motor sports life insurance. 01244 732 890Motor sports critical illness cover amountsSimilar to the guidelines of life insurance, applying for critical illness cover is pretty straightforward. Due to the risk attached to motor sports, you may find that providers include exclusions of permanent disability factors on your critical illness cover. However, this will depend on the type of vehicle you drive, along with factors such as your average speed.Prior to applying for critical illness cover, here’s some factors to consider: Income (after Tax) Mortgage payments (annual) Cost of living (annual) Any other possible costs (e.g. medical treatment or adaptations)Motor sports income protection amounts of coverWhen applying for motor sports income protection, standard rates may be offered. Within the application process, insurance providers will request your previous history of related injuries. If you have experienced previous injures linked to your motorsport activities, it is possible that exclusions will be applied to your income protection policy. If this policy is suitable for your requirements, consider the following factors: Monthly income (after tax) Mortgage/rent payments Debts (other) Cost of livingWe advise contacting our specialised team today to discuss your likelihood of obtaining income protection cover. 01244 732 890Motor sports travel insurance amounts of coverIf you’re looking to drive and get involved with motor sport activities abroad, we recommend contacting our expert team to discuss suitable travel insurance. Alternative view our travel insurance options here .Purchasing your motor sports life insurance policy with Iam InsuredDo you take part in hazardous pastimes such as motor sports? If so, we recommend purchasing suitable life insurance to protect you if the inevitable happens.We work with a database of top UK life insurers who offer affordable policies taking your personal circumstances into consideration. To discuss our policies, including motor sports life insurance, income protection, critical illness cover and travel insurance, contact our team today 01244 732 890.Alternatively, if you wish to find out further information regarding our motor sports life insurance policies, click here.