Personal cover, a question? For if the worst happens...
 

A very relavant post by guest1 (re: Biker Down RIP) set me thinking....

If the worst came to the worst and I was killed either on track or riding on the road, would my family be financially protected???

Having a young daughter now I think I need to look bit more into this, I have my own life cover but I serious doubt if it includes "dangerous activites" such as motorcycling and certainly not Trackdays.

I must admit to be being a little worried !

Frank

Highly likely your life cover would be OK for road riding, but they might considered Track Days as a 'Dangerous Activity' and as such wouldn't pay out - however much you tried to convince them it's less dangerous than the roads

I specifically mentioned riding bikes a few years back when I took out a policy and was told not to worry that it wouldn't invalidate the policy. Have to admit though, I haven't checked out the trackday side of it.

This may sound a bit odd, but I am not too fussed onthe financial side if I die as I knwo there is more than enough in my estate to sort everything out and make a few people better off.

What I do have is a critical illness and accident policy. This basically means that if I am crippled etc that there is money there to pay for a decent nursing provision so no one has to feel guilty about not wanting to look after me. I would never want someone to have to worry about my care if I became incapacitated.

It might sound a bit pessimistic, but I fully accept the dangers in my life and want to protect those close to me from having to deal with the fallout of my adrenalin habit.

just to let you know, a friend of mine has recently been told by his company!

that last year there were no fewer than 11 employees who were off work through motorcycle related injuries!

and he has been told that his company will not be renewing his contract of employment if he continues with Motor cross !~:)

does not quite sound legal somehow ???

iconic , not sure but i do know they are giving him some grief over it!!!!! ...mav

How big is the company?

Eleven employees..:D

This cropped up again recently when discussing winter riding....

Comments please ?

None of our life policies or mortgage policy covered for death on the track. We'd enquired at the time of taking them out. And to my knowledge they don't exist.
And they mostly also have a clause for not riding a motorcycle on the road too.
We had a special track policy, although I can't remember who it was with. They took a very very long time to pay out and the pay out was minimal.
So, the moral of the story is that each time you go out on the track you not only risk yourself but your family too, 'ffraid to say. No mortgage settlement, no money to pay for the funeral, everybody and their aunt knocking on their door to settle credit card debts and overdrafts. It's not pretty, Frank.
A black picture, but a true one.

Thanks Annette, sadly thats pretty much the impression I had of the products available too.

Regards - Frank

You can get the death cover, but it's not cheap ... I was paying £200/mth

Before the start of this DD season I doubled checked my two life policies that I was covered while on track. I declared it in writing, and both Standard Life and Liverpool Victoria wrote back to confirm that all is ok.

Also, confirmed my BUPA is ok should I need bones stuck together, and critical illness and accident should I need looking after.

Although racing is in itself dangerous, insurers have a big book of risks and quite likely they take the view that a season of organised club racing is no less a risk in the grand scheme of things than what someone does for a job all day (construction, courier, lion tamer), and what they might get up to at the weekend (rugby, shooting, DIY).

Personal Accident Cover
 

My separate personal accident cover with Norwich Union has no clause precluding death cover for road riding.

What about CB, I thought that he was an agent for some American insurance company that covered for racing and other "not so safe in the eyes of the insurance underwriters" type policy.

My annual travel insurance has a clause that allows riding a motorcycle 'up to 125cc' providing you hold a licence to do so. I had to contact them to confirm that my policy was ok with the fact that I was riding a 1000cc bike as the form of transport for my holiday! They checked and said it was noted on an addition to the cover-no additional cost.

John