If you drag race or drive competitively, you could see a substantial increase in the cost of a life insurance policy depending on the type of driving activities.  The risk rating assigned by insurance companies can vary substantially and will be based on the type of races, maximum speeds achieved, how often you race, and other factors.

Life insurance companies will want to know the following information to make an accurate risk assessment:

  1. How many years have you been active in motor sports?
  2. What type of vehicle do you drive?
  3. What type of races do you do (i.e. drag racing, road courses, etc)?  Are they sanctioned competitions?
  4. Number of races in the past 12 months?  Past 36 months?  Expected in the next 12 months?
  5. What type of track or road course do you race on?
  6. How much horsepower does your car have and what is the engine displacement size?
  7. What are the maximum speeds you race at?
  8. Do you race professionally for money?
  9. Have you ever, or do you expect to engage in any stunt driving?
  10. Do you have any other history of moving traffic violations?

Depending on what motor sports you do, you may still be able to get the best risk class (Preferred Plus).  Some racing activities that are riskier in nature may require a “flat extra” rating, which is an extra cost per thousand dollars of coverage, such as $2.50.  An example would be a $1,000,000 policy with a flat extra rating of $2.50 per thousand would cost $2,500 plus the regular cost of insurance.

If you are a drag racer or compete in motorsports, you should not apply with multiple companies at the same time.  The more companies that give you a flat extra rating or decline coverage on a formal application, the less likely you are to get a better offer!

You need the help of an independent life insurance agent that can shop your racing activities profile informally (no personal information is revealed to the insurance companies, just a general profile).  We specialize in high risk life insurance and make sure you are getting the best possible offer.  This is how it works:

  1. Call us at 1-888-972-0024 to review by phone.  You can also e-mail us by CLICKING HERE.
  2. We submit your general racing activities profile to 10-15 of the most competitive, highly rated life insurance companies with the lowest rates in the industry (again, no personal information is disclosed)
  3. We review each of the offers and send you a spreadsheet with the lowest rates from the company or companies that made the best offer(s)
  4. You apply for the policy of your choice.  We walk you through the application, follow up on the underwriting, and get the finalized offer.  Note, there is no cost to apply and no obligation to accept the final offer from the insurer.
  5. The policy can be delivered, signed, and paid for electronically with many insurers today – a paper policy delivery can still be mailed upon request.  Once the signatures and initial payment are completed – you’re done!