Sports Financial Services is one of the UK’s top insurance companies for people who are involved in extreme sports or dangerous hobbies which includes Caving life insurance. Most people who take part in extreme sports will generally feel that life insurance will be either more expensive or unfairly priced because of the risks of their chosen pastime. The reality is that cover such as Caving life insurance will generally be priced the same as life insurance for someone who does not take part in an extreme sport which is obviously very positive for anyone who needs cover.
What cover can I get if I do Caving?
It is generally possible to get Caving life insurance, critical illness cover and income protection in most cases depending on the number of times you take part in your sport. There are a number of reasons why someone who takes part in extreme sports should consider which can include risks of injury which can impact your ability to work which is where a caving income protection policy would be useful. The positive currently is that generally a caving income protection policy or caving critical illness cover policy will be offered to most with no increase to premiums or any exclusions.
What can affect premiums for Caving life insurance, critical illness cover and income protection?
There are a couple of key areas that will potentially cause some issues for underwriting of Caving life insurance, critical illness cover and income protection policies which will be assessed by underwriters. The main areas that will be assessed for Caving life insurance are:
- How often you go caving
- What type of caving do you do
- How experienced you are or do you go caving with guides
In most cases there should be no real issues with the key factors for caving life insurance unless you do more than 25 caving trips or events per year. It is unlikely that the majority of people that go caving will go more than 25 times in a 12 month period unless they are an instructor or professional, in which case there may be special terms offered.
What if I am a caving instructor or professional?
Anyone who is an instructor or professional who does this activity for a profession (e.g. police) will generally find that there may be either restrictions or they may pay more for Caving life insurance. The risks for someone who does caving professionally are increased due to the number of times that they do caving rather than the experience that they have or their qualifications.
As with most extreme sports or dangerous hobbies, generally the more times that you do something the more we tend to push ourselves as individuals which will often cause higher risks. Fatal accidents from this type of activity are still rare fortunately so you should find that Caving life insurance premiums will often not increase or will only increase slightly in most cases.
Which insurers are best for Caving life insurance?
Underwriting for all extreme sports or dangerous hobbies will vary from one insurance provider to another which will be the same for Caving life insurance. This will depend on several different elements to underwriting criteria which can include:
- Underwriting philosophy
- Claims experience
- Attitude to risk
- Number of re-insurers
Sports Financial Services is an expert for people who take part in extreme sports of dangerous hobbies so we know which insurance providers are more likely to offer you the most competitive premiums for your situation.
If you need more help or advice on which is the best way to go about getting Caving life insurance then you should contact one of our team of experts to find out more and to see what we can do to help you to protect your family. Anyone taking part in extreme or dangerous sports regularly should consider some form of life insurance, critical illness cover or income protection and especially for those with children or dependants.