Motorcycle riding comes in many different forms – some individuals choose to do it as a pastime, as a means of transportation, or it is part of their occupation.
Some people believe that the increased risk of riding a motorcycle will negatively impact their ability to secure life insurance, either making them ineligible or making their premiums very expensive.
The truth is, many insurance companies in the United Kingdom will accept life insurance for motorcycle riders with very standard terms.
Motorcycles for Transportation
Just like many individuals use cars to get around, some people use motorcycles to get from one point to the next. If this is the main reason you ride a motorcycle, it is very possible for you to secure life insurance that is straight forward and with standard terms.
Keep in mind, however, that some insurance companies will want to know more information about your motorcycle, such as the type and size. Depending on the increased risk your motorcycle poses, you may pay increased premiums.
Motorcycles for an Occupation
Police officers, emergency responders, motorcycle racing trainers – all of these individuals use motorcycles every day as part of their job. Since this is standard practice in many occupations, it is possible to also secure standard life insurance should you use a motorcycle as part of your job.
If you are a professional motorcycle racer, however, securing life insurance may be more difficult to obtain and more expensive based on the increased risk that your particular occupation poses to the insurance company.
Motorcycles for Racing Pastimes
If you are not a professional motorcycle racer, but race bikes for fun or as a pastime, you will also run into increased problems when looking to purchase life insurance. The cost of your policy will be determined by a number of factors, including the type and size of motorcycle being used, the types of races you are participating in, and how often you race within a calendar year.
Ice racing and circuit racing are considered more risky and may carry higher premiums while motocross and enduro are considered slightly safer and may qualify the policy seeker to be granted more standard terms.
The most important aspect of securing any type of life insurance, whether you ride motorcycles or not, is to shop around different insurance companies and policies to help find the perfect plan for you.
Every company is different and what is offered may vary.
Genesage Life Insurance is available to help you do just that – our knowledgeable team is standing by to help answer your questions and get you matched with the perfect insurance policy for your lifestyle and your budget.