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Life Cover for Motorcyclists

Sep 27th 2015 at 12:45 PM

For anyone with an adverse health condition, life insurance cover may be difficult to obtain. And the same thing can be said for those who go in for what are seen as ‘dangerous hobbies’, irrespective the individual is in perfect health.

For obvious reasons, these so called dangerous hobbies are seen to increase an insurance company’s risk. Among these ‘hobbies’ are rock climbing, sky diving, scuba diving, and motorcycle racing.


Does Riding a Motorcycle Impact Your Rate for Life Coverage?

It’s estimated that for those who ride a motorcycle, they are 26 times more likely to perish in a crash in comparison to passengers in a car. Further, they are five times more likely to be injured.

And yet, rather ironically, riding a motorcycle for the purpose of pleasure will not adversely impact the amount of premium that you will pay. Thus, though it’s far more dangerous, riding a motorcycle will not place you within the high risk insurance category.


Insurance Underwriters – What they wish to Know

For the motorcycle rider, as with any other life insurance applicant, there are certain things that an underwriter wishes to know. This typically will include information pertaining to your:


- Gender

- Age

- Marital status

- Weight and height

- Occupation

- Income

- Health condition and related history

- Current medication

- Alcohol usage

- Tobacco usage

- Hobbies


It’s also a possibility that you will be asked to undergo a medical examination, depending on the amount of coverage you are seeking and also your age. It’s a simple examination, and normally merely entails the provision of blood and urine samples.


How much will Your Premium Be?

Upon review of all of your information by an underwriter, on the provision that your health is good, it’s likely that the premium rate and policy group will be Standard.

If, on the other hand, it is found that your health is relatively poor, you may still be in a position to obtain coverage, but it’s likely your rating will drop to Substandard. In which case, your premium rate will be higher than average.

Conversely, if you are in excellent health and the health history of your family is very good, your premium rating could be Preferred. As a consequence, your premium rate will likely be lower than average.


Purchasing Life Insurance

If you are seeking life cover for motor cyclists, it’s advisable to do it sooner rather than later. That’s because, at this time, most life insurance applications do not include any specific questions on motorcycle riding for pleasure. In which case, motorcycle riding, other than racing, has no impact on the amount of premium that will be charged.


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