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Life Insurance for Motorcycle Racers

Finding life insurance for motorcycle racers is simple and straightforward

Competitive motorcycle racers either on the drag strip or the dirt track encounter a high risk. When applying for life insurance for motorcycles racers, this should never be a problem. There are multiple companies that work great for purchasing life insurance for motorcycle racing.

Just because you race motorcycles does not mean that you have to pay high life insurance premiums. You have to apply with a life insurance company that offers the lowest rates for motorcycle racers and is the least sensitive toward the motorcycle racing sport in general.


It is very important to choose the most applicable life insurance company

There is a considerable difference between one company and another. Life insurance is not a one product fits all type of insurance. It comes down to each companies opinion of just how hazardous motorcycle racing really is. Also, how the rates should be adjusted to match your class of racing. You will always get the best rates from a company that is not intimidated by the racing sports.

That is why choosing the most applicable company is so critical. The best life insurance companies have a more positive look on the racing sports. Life insurance for motorcycle racing is still considered a high risk sport but there is no problem getting covered.

Independent agents represent all major companies

This is where an independent agent (broker) who is experienced in high risk sports comes into the picture. Whatever your specific form of motorcycle racing actually is, there is an affordable life insurance policy for your needs. I personally have a lot of hands on experience in Motorsports racing.

I personally understand what the classes are all about. Whether it is anything from a 125cc dirt bike class to a 1000 HP Top Fuel Harley drag bike. All the way to Motocross or Supercross, you are able to purchase life insurance from a number of trusted carriers.

Purchasing life insurance for drag racers is the same for dirt track racing

The best companies usually offer the best life insurance rates. Low cost term life insurance is the most affordable life insurance product. This article is going to be about life insurance for motorcycle racing and how to get the lowest rates possible. Just keep on reading and you will see that this is not a complicated manner.

Securing life insurance with highly trusted life insurance companies is not going to be a problem. You are now going to find out exactly how to get the best life insurance rates for motorcycle racers.

Amateur or a professional, you can purchase life insurance at very affordable rates

  • When you apply for life insurance for motorcycles racers. There is no such thing as a special policy designed just for motorcycle racing. All you would be doing is applying for a conventional Term life insurance policy. This would be just like anyone else would whether your sport is tennis or golf.

  • The application process is exactly the same where all the other specifics come into the picture. Such as your age, health history, driving history, tobacco use, height and weight, prescription medications taken and so forth. 
  • Here is where the difference comes into the picture. The only difference is when you have a hazardous sport like motorcycle racing. The life insurance companies can add a separate fee called a “flat extra” charge. This covers the additional risk they are taking for the motorcycle racing. This flat extra charge will depend on what type of motorcycle racing you actually do.

  • It comes down to how dangerous your specific form of motorcycle racing is. Purchasing life insurance for motorcycle racers is not as complicated as many people believe.

Here is how the life insurance companies calculate the rates for  motorcycle racers

Your flat extra charge will depend on these main factors:

  1. Class of racing you fall into such as “Pro Stock Drag Bike”.
  2. The maximum speed you reach when racing.
  3. The type of fuel your motorcycle uses.
  4. The elapsed time your motorcycle runs in (if drag racing).
  5. The type of track you race on.

You can be covered on the track while racing or be excluded

You have two choices to make and these would be; do you want to be covered while you are riding down the racetrack or do you want to exclude the actual racing exposure all together. You can choose a company that will exclude the racing risk from the policy. The company would then add an exclusion rider to the policies contract.

If you go this route there will be no extra charge for the life insurance. This would mean you would not be covered if you died while actually racing. For some people this will be their choice. But, most racers want to be covered while they actually ride down the track.

A “flat extra” charge example & breakdown

We will use an example of a 30 year old male named “Bill”. In this scenario, Bill wants to apply for life insurance and also be covered while racing. Bill wants a 20 year Term life insurance policy with a face amount of $100,000. The base rate of the policy would be $800.00 per year for this policy. The base rate is just the normal premium that he would pay if there was no racing involved.

The motorcycle Bill rides is just a simple bracket racer that runs mid 10s in the 1/4 mile. Bill receives a $2.50 per thousand dollar flat extra to cover the added risk of the racing. The breakdown would be $2.50 x 100 for the face amount of $100,00 and the flat extra charge would calculate out to be $250.00. We would then add the $250.00 flat extra charge to the base premium of $800.00 for a grand total of $1050.00.

Flat extra fees can be eliminated by using an activity exclusion

If our example motorcycle racer “Bill” decides to go with a higher policy death benefit. For example a $250,000 policy, then the flat extra would increase by using this calculation. A flat extra charge of $2.50 times 250 for the $250,000 policy the flat extra would become $625.00.

This actually means that the higher the face amount, the higher the flat extra fee will be. This is how the premium is calculated when applying for life insurance for motorcycle racers and all other types of racing also.

Purchasing life insurance for motorcycle racers may sound complicated. But it is very simple when an agent is helping you every step of the way.

Face amounts will have a direct impact on your premiums

Simple common sense will tell you that when a person applies for life insurance and requests a death benefit of $100,000. The premium will be much less that a person who is requesting a $500,000 death benefit or $1,000,000. If you are unsure of what you really need as a face amount. Use our face amount calculator to point you in the right direction.

This will give you a good idea how much life insurance you will need. You will be calculating what your survivors will require if you pass away. One of the most important questions you have to ask yourself is. How much life insurance can you afford to pay comfortably on a monthly or annual basis.

Activate our websites quoting system and instantly check out your rates

Our quote engine will display immediate life insurance quotes from all the best life insurance companies. You can find the best life insurance rates within a matter of minutes. Keep in mind that low cost term life insurance is the most affordable life insurance product.

Thanks to the internet and websites, we can review the best online life insurance quotes. Universal life insurance is a great permanent product. But you will find that whole life insurance simply costs too much to be practical.

If you need life insurance, apply as soon as possible!

Apply as soon as possible because the older you get, the higher the premiums will be. Most life insurance companies use an “insurance age” vs. your actual age. This means if you are 30 years old and your next birthday is less than six months away. you will be classified as age 31. The worst thing you can do is procrastinate. 

In Conclusion

Purchasing life insurance for people that race motorcycles is a snap. Give us a call 7 days a week and we call answer all your questions over the phone. Better yet, set up a time at your convenience and do it the easy way. 

All the best,
Jack Venturi