Four Hobbies That Will Bump Up Your Insurance Premium

It’s almost summertime on Long Island and the fun is about to begin. If you travel the LIE on a summer Saturday morning you can get a pretty good idea of how active we are on the island. You will see speedboats, fishing boats, race cars, ATV’s, Jeeps, mountain bikes, kayaks, motorcycles and more. Here are four popular Long Island hobbies that could cause you to pay more for your life insurance.

Scuba Diving - The type of diving done by most recreational divers will have no impact on your life insurance. The insurance company will want to know how often you dive and at what depths, what your certification is and if you do wreck or cave diving. If you do deeper and more dangerous dives, it will have an impact on your life insurance premium.

Sky Diving - You might think that skydivers can’t get life insurance, but there are companies who will insure them. The impact it will have on your life insurance rates will depend on many factors. Your experience, how often you jump, whether you jump single or tandem and whether you free fall will all be taken into consideration.

Racing Cars - Most local short track racers will find that their hobby does not cause any problems with their life insurance. However, as with sky diving and scuba diving, the details make all the difference. The type of car you race, whether the races are sanctioned, the top speed and race distances will all be taken into consideration. The faster the car, the more you race, the more impact it will have on your life insurance.

Ultralight Aircraft - If you enjoy flying ultralight aircraft you may have a very hard time finding affordable life insurance. From the perspective of the life insurance industry, this is considered an extremely risky hobby. The relative low cost and ease of learning how to fly ultralights has made them a popular hobby, but unfortunately pilots of these small aircraft take a very big risk every time they fly.

If you already participate in these hobbies before you purchase life insurance you will have to bite the bullet and pay a higher premium. You will be asked about each of these activities when you apply for life insurance. If you are not honest on your application and you die as a result of these activities, the company can deny payment on your policy. The risk on your family is too great to do this. Tell the truth and have the peace of mind that your family will not be financially devastated if something goes wrong.

If you are considering trying out these or any type of risky hobby, get adequate life insurance coverage right away. Death from any hobby or activity that you pick up after you have your life insurance policy will be covered. This is just one of several reasons that it makes sense to get adequate life insurance as soon as you can.

Enjoy your summer and be safe.

Marcy Tooker

The Tooker Agency

Riverhead NY

631-502-0000

marcy@thetookeragency.com