AutobahnRacer

I contacted my insurance agent to UP my current life policies. I'm 44, and have two policies that are 20-year terms, both are 10-years old. The question was asked,

"do you participate in any dangerous activities"?

I hemmed, hawed, and 'in confidence told my agent about racing in SCCA, NASA and Autobahn events. He quickly forwarded me a document to be filled out. It was detailed, and he said 'BE HONEST'.

Bottom line, if you lie on an insurance form, your death benefit may not be paid. You could lie about racing, get hit by a bus, and claim may not get paid . . .

I'll follow up with the forum on what happens with my new policy/premium. Curious as to what you guys have experienced, and if there are certain companies who don't FREAK OUT with respect to our chosen hobby.

RDnomorecobra

there'a another thread on this. my questionnaire asked if I race. If answered yes, you were then asked what sanctioning body, what class, what licenses I hold etc. none of which apply to me (HPDE only). The guy told me to answer no after I described what I do. and the policy contract does not prohibit HPDE.

BuckeyeZ06

I think road racing adds a 50 percent premium to the base annual premium; this is after any ratings because of health issues.

Bill Dearborn

If you were not doing these activities when you took the policies out 10 years ago you haven't lied. Leave those policies in force and then all you have to do is make the correct statements for a new policy to cover the additional insurance.

Bill

bosco022

Steve Goldin Insurance specializes in life insurance for racers. Steve is an SCCA and Grand Am racer out of Miami (Goldin Bros Racing). Great Guy, who by the way owns
the Greenwood Spirit of 76 Corvette. I think he still can be reached at

race962 at yahoo dot com

Bosco

AU N EGL

When I did my whole life policy, they said car racing only raised it the next risk level.

the NOT covered / excluded hobbies were: sky diving, para-shooting, para-sailing, mountain biking, rock climbing and mountaineering, scubu diving, motorcycle racing, and a few others.

Edit this was through the company I used.

Gearhead Jim

Five years ago, autocross and HPDE did not increase my premium for 20 year term, $500k.

CHJ In Virginia

I just took out a policy for $250K last year. The company had a list of prohibited activities like scuba, parachutte jumping and mountain climbing. Racing and HPDE were not on the list. They did not ask, so I sure did not mention it.

bowtiguy

I have over 2 mil of term coverage to cover personal and buisness ( I should lower that now as over 1/2 of the debt has been paid off). I get group term cheap through my professional group. I know it did list activities like scuba, skydiving etc. but did not go into some of these other things.


I dive 1 week a year open water 120' or less, Does indoor skydiving count? so I figured I was good. Now I run Nasa group 3 & 4..kinda fast, hunt Elk, grouse hunt in the high country by myself, Ski...kinda fast, MTB..kinda fast. Guess I better read the exact policy.

Curious to see what comes of the O.P. additional paperwork. good info here guys!

Painrace

Years ago I held FIA, SCCA, IMSA, TIDA, NASCAR, etc license and my life insurance actually was a little less. Now that I am old no one wants to cover me.

Jim