Information Regarding Extreme Sport Insurance


Part of the thrill in extreme sports like skydiving and racing is the excitement at the knowledge you could potentially be harmed doing what it is you’re doing. Some people respond to this knowledge with fear and anxiety, and they shy away from such stuff. Those who find the concept more exciting are the ones you’ll find jumping out of planes and climbing into the driver’s seat of some incredible muscle car. There are things to worry about even if you don’t get hurt while enjoying your favorite sport, however. Things like insurance, which can be very costly for those who enjoy their extreme sports.

Heart of every extreme sport

At the heart of every extreme sport is an inherent level of danger, a lack of a controlled environment and other factors which have been known to cause personal injury. Mountain climbers cannot control the pitch of the rock or the weather conditions when they climb; sailors cannot control the waters roiling beneath their boats. Sports like basketball and soccer pose injury risks as well, but these are expected and can be prepared for. On a vessel in the middle of the ocean, anything can happen. You cannot prepare for the unexpected – you can only prepare to be surprised.

Specialized gear and higher speeds

The likelihood of an accident occurring increases as more specialized gear and higher speeds are introduced to an extreme sport, it seems. Climbers have ropes, clips, spikes, hammers, specialized shoes and other equipment. The failure of any one or two of these essential pieces of gear could have fatal consequences. If you’re stuck on taking up an extreme sport, then it might be best to go with something that features few specialized pieces of gear. Surfing requires only a board and falling from a wave into the ocean will hurt much less than falling off a cliff into a bed of rocks.

That is not to say every sport featuring a minimum number of required items is a safe choice. Another potentially dangerous sport, archery, needs only a bow and some arrows, Even a target is optional if you are using cheap arrows you don’t mind breaking. However, even a cheap arrow can cause a serious injury or death if it is fired at a person. Accidents happen in archery just like in every other sport, but the consequences can be far worse and more permanent in nature. None of these sports present an ideal situation, which is why it’s so important to know information regarding extreme sport insurance.

Insurers are compiling data all the time

Insurers are compiling data all the time. They’re looking for injury rates among people playing a variety of sports and performing a wide number of tasks, like driving, going to work and more. According to their numbers, the more likely you are to pose a risk to them, the higher your rates and deductible will usually be. Posing a risk to an insurance company means becoming a candidate for a payout; they’re happy to take our money, but they don’t really like to pay on policies when claims come due. Besides the likelihood of being injured, there are many other factors insurers add into their coverage equation.

If we’re talking about insurance for something like sky diving, an insurer will usually take into account parameters such as your age, current physical health, any drugs you may be prescribed, your medical history, your level of education and more. Each of these factors can help to reduce or cause an increase in the amount you’ll need to pay every month to maintain coverage, as well as the deductible, which is the amount you pay before your insurer begins to pay in the event a claim occurs. After compiling all required data, a company may make the determination not to provide you with coverage.

Some sports are just too dangerous

Some sports are just too dangerous. Nobody wants to offer life insurance to someone highly likely to die before the policy expires. And term life insurance would be the cheapest option for insurance like this; adding an appendix to an existing whole life or health policy could be very costly, depending on your insurer of choice. Well, regardless of who you go through, it’s going to cost plenty. There are still some ways that you can minimize the increase insurance costs and put your mind at ease when it comes to your well-being.

With sports like longboarding and others where high speeds are the norm, accidents tend to cause more serious injury than similar situations where people were moving more slowly. High speed is equated with high risk, not just in this way but typically also in the mind of the extreme sport enthusiast, as well. The danger is part of the fun! But it’s also part of the reason insurance for athletes of this type can be highly expensive and not very flexible. It may also come with stipulations, such as clauses requiring you to be wearing safety equipment when playing your sport of choice.

Extreme sports fix will affect your insurance rates

Now that you know how your extreme sports fix will affect your insurance rates, learning how to reduce that effect is the next important step. Shopping with different insurers should be the first thing you do. Once you know exactly what to expect from your sport of choice, that will make any quotes you get from a company more accurate as well. If you’re willing to call companies for quotes and then call them again to try and get progressively better quotes once you start comparing offers, a day or two of making phone calls can help you to save a significant amount on your premium payments.

Of course, insurance for extreme sports like canoeing or spelunking works like other kinds of insurance in predictable ways. If you ever do get injured and make a claim, you can expect your rates to go up – and you can expect your current insurer to tell everyone else about the event, too. This isn’t so different from auto insurance rates going up after a car is stolen, but  it can make the vacations and other special time you set aside to enjoy your extreme sports much more stressful.