Life Insurance for Motorcycle Drag Racers | Guide to the Best Rates in 
If you are an active motorcycle racer, either NHRA drag racing or dirt track racing, you have a lot of good choices for life insurance. You probably know that this is considered a hazardous sport by the life insurance industry.
Life insurance for motorcycle racing is readily available and costs less than you would ever believe. Furthermore, it often does not cost a penny more than if you did not race in many cases.
This also holds for auto racing motorsports. This would include NHRA drag racing and oval track classes such as NASCAR stock car racing. All these drivers are in the same situation regarding purchasing life insurance.
Some people believe that finding motorcycle racing life insurance will be complicated and expensive. Nothing could be any farther from the truth. Motorsports racing is our specialty, and this is a simple process.
Table of Contents
- How Will My Life Insurance Rates Be Calculated?
- Motorcycle NHRA Drag Racing vs. Moto Cross & Supercross
- What Are Flat Extra Fees for Motorcycle Racers?
- Does My Health History Make a Difference?
- Why Should I Work With An Independent Agent?
- How Can I Apply for Motorcycle Racing Life Insurance?
- What Type of Life Insurance Can Motorcycle Racers Buy?
- Should I Request a Pre-Screen Before I apply for Coverage?
- In Conclusion
Simply put, a motorcycle racer’s application will be reviewed in two main parts. First, the underwriters will review your health history and the risk factor of racing motorcycles.
1. Type of Motorcycle Used:
The type of bike you race will be one of the factors life insurance companies will consider. Some motorcycle designs are safer than others and have statistics to show more or fewer accidents on the track.
2. Racing Classification:
For example, what classification of motorcycle drag racing you are active in, such as Motocross, Supercross, Pro Stock, or Nitro drag bikes. Your racing class tells the underwriters how safe or hazardous your involvement in motorcycle racing is. This also holds for dirt track racers active in Motocross or Supercross racing.
3. Top Speed:
The maximum speed you experience on your drag or dirt track bike is vital information. Common sense will tell you that the faster your motorcycle goes down the track, the greater the odds of having a fatal accident. The faster you run, the harder it is to stop or make a quick decision to try to avoid a wreck.
4. Type of Fuel:
The type of fuel you run on your bike will affect your rates because Top Fuel and Top Alcohol classes will usually spell a higher-performance motorcycle than just running high octane gasoline. In addition, the fuel you use will be relevant to motorcycle drag racers rather than dirt bike racers that use gasoline. If you run an NHRA nitro drag bike, you can still get life insurance with no problem, assuming you are in relatively good health.
5. Experience Level:
The life insurance companies emphasize your level of experience. The more knowledge you have, the better it is with any rider training classes you may have taken. Also, how many times you race in a given year is considered.
6. How Many Races Per Year:
According to simple statistics, the more motorcycle racing you do, the higher the probability that you could have an accident. Of course, the number of races you attend each will not make a significant difference but is still considered by the underwriters.
The insurance companies look for the hazards of your specific form of motorcycle racing.
When the underwriters review your application, they look at how hazardous your motorcycle racing is. There is usually very little difference in motorcycle NHRA Drag Racing or other types such as Moto Cross, Supercross, GrandPrix, Ice Racing, Enduro, or SuperBike racing.
The life insurance industry emphasizes statistics, and they spend millions of dollars annually having statistics created by statisticians. This is the only accurate way to determine how to set their pricing structure when they underwrite applications.
As far as motorcycle racing goes, this is not considered one of the more hazardous hobbies or sports someone can be active in. There are many far more dangerous sports that people participate in.
Regardless of what type of motorcycle you have or how fast you go, you can still get life insurance at very affordable rates. Many motorcycle racers are issued preferred rates as if they did not even race.
Flat extra fees are sometimes used, but we try to avoid them by using the right life insurance company.
Depending on your specific information concerning riding your drag or dirt bike, a life insurance company may add a flat extra charge to your base premium to cover the added risk of motorcycle racing. This would be in the case of a more volatile class of racing such as high-speed drag bikes running alcohol or nitro. A flat extra charge would be a dollar amount such as $2.50 per every $1,000 coverage you apply for.
For example, applying for a $100,000 term life insurance policy for 20 years costs $750.00 per year for a given term policy. The flat extra charge would be $2.50 x 100, which would break down to $250.00. Your base premium is $750.00, and your flat extra, which is $250.00, will cost $1,000.00 per year. Don’t worry about flat extra charges because many companies we use do not add them to a policy.
Your health history is much more important than your being a motorcycle racer!
When applying for life insurance, your overall health history is more important than anything else. Your rates may or may not be affected if you have health conditions. This will always depend on the type of health conditions you may have.
Your health will determine what health classification you will be placed in. The healthier you are, the lower your rates will be.
An applicant’s rates can also be affected if he has a dangerous occupation. For example, when you apply for your new life insurance policy, a hazardous occupation or a hazardous sport or hobby can have the same result.
The independent agents (brokers) can always find the lowest rates for motorcycle racers.
I always recommend buying your life insurance through an independent agent like myself. Independent agents, also known as brokers, can shop the entire market for you. This is much better than using a captive agent like State Farm and having only one company from which to choose your life insurance. In addition, most captive agents don’t even offer life insurance for people with hazardous sports or occupations.
We work with over 40 of the highest-rated life insurance companies to ensure our clients get the lowest rates every time. In addition, you can use an instant quote rating system to get a good idea of your options and projected premiums.
Getting the best rates involves your agent locating the one life insurance carrier that will offer you the lowest monthly premium. Therefore, choosing the right company to apply to is extremely important.
Telephone applications are the best way to apply and take between 15-20 minutes.
Applying for life insurance is now a snap because you have a quick and straightforward option to apply over the telephone. In addition, telephone applications are much faster and more precise than paper and online applications.
The days of long 30-page paper applications are now just a bad memory. As a result, applying for life insurance is a much more streamlined process than before.
Term life insurance costs a fraction of all the other forms of life insurance.
You can apply for any type of life insurance you would like, but low-cost term life insurance will be your best plan design due to its low premiums. I have listed all your other options below, but they will be more expensive.
I have to say that 95% of the people I talk to choose affordable life insurance products. Here are all your choices available below, with a link to the relevant blog post on our website for more information:
- Term Life Insurance
- Universal Life Insurance
- No Medical Exam Life Insurance
- Return of Premium Life Insurance
Motorcycle drag racers should always have their agent run a quick pre-screen to eliminate surprises during the application process. For example, if you have any medical condition, height and weight issues, or a dangerous sport, a pre-screen can help make your application process a breeze. We use a simple electronic form that will take you less than 10 minutes to complete. The idea concerning a medical pre-screen is to get everything out in the open, so your agent can put a game plan together before applying.
This information will enable your agent to connect you with the best life insurance companies offering you the best rates possible. If an applicant is very healthy and does not have a dangerous sport or occupation, there is no need for a pre-screen.
Purchase life insurance for motorcycle drag racing is not a problem. Several excellent companies we work with will approve your application with preferred rates if you are in good health. In addition, you can activate our simple-to-use instant rate quote system to see over 40 of the top companies compared side-by-side. Thank you for taking the time to read this blog post!
All the best,
If you have questions about life insurance for motorcycle drag racers, contact us today, and we will help you at no cost or obligation. We are brokers and work for our clients, not insurance companies. Our job is to help you get the best policy for your needs at the lowest rates possible. You can also set up a time at your convenience to talk.