While the practice of sport, in general, is viewed positively by insurance companies, this is not the case for certain so-called dangerous sports activities. Their practice leads insurers to be more careful in drawing up the contract.
What are risky sports for home loan insurance?
At the stage of the questionnaire administered by the insurer, the borrower must mention your sports activities. In fact, not all sporting activities are created equal, since they involve different accident risk levels. Insurers consider the following sports to be dangerous:
- Climbing, mountaineering, and trekking;
- Horse riding, polo;
- Combat sports, some martial arts;
- Scuba diving, rafting/canyoning, sailing;
- Aerobatic / aeronautical sports (paragliding, parachuting …);
- Snowsports in the mountains;
- Professional athletes in general.
This list gives you an idea of the sports that could prove to be problematic when taking out your loan insurance.
What Are the Consequences of Risk Sports on Loan Insurance?
If the practice of sports deemed dangerous is feared by insurance companies, it is because the guarantees offered in the context of mortgage loan insurance are mostly linked to the risks of injury and death. These are indeed guarantees:
All these guarantees are intended to ensure payment of the debt of the insured in the event of an event preventing him from generating the usual income and therefore from repaying his credit. The practice of a risky sport does not, of course, prevent you from taking out mortgage credit insurance. However, loan insurance can exclude certain guarantees or impose premiums. In rarer situations, it may refuse coverage or establish a specific contract taking into account the particular nature of the sport practiced.
Important: If you start practicing a high-risk sport, not practiced when taking out your mortgage credit insurance, you must then inform your insurer. You have 15 days to inform him of this, failing which you risk the insurance being canceled by the organization which covers you. It may be possible to buy back the exclusion of guarantee linked to this sport or to change mortgage insurance to take out one that covers this risk.
In addition, in the event that you perform a baptism or occasionally practice a sport (that is to say if you are not a member of a club, do not have a regular practice), it is not useful to notify your insurer.
How to properly ensure your credit by practicing a risky sport?
Playing a dangerous sport as understood by the loan insurance organizations can, therefore, lead to a higher mortgage insurance rate through premiums or exclusions from the guarantee. But not all insurers practice the same conditions, so it becomes essential to find out if you practice or wish to practice a sport known as “at-risk”.
Comparing home loan insurance policies as well as contracts can help you see more clearly to find the right coverage. But it can be time-consuming.
As such, being accompanied by a broker it can then prove useful in finding the right delegation of home loan insurance: indeed, this expert guides you and finds for you home loan insurance providing the guarantees in according to your profile, adapted to the sport you practice, and this, at the best price among its partners. If you want to change insurance during the loan, your broker can also take care of the termination with your current organization.