Can I Get Life Insurance for Extreme Hobbies?

What sort of hobbies are out there these days? Do people still collect stamps, baseball cards, or coins? What about outdoor hobbies like hang gliding, hot air ballooning, scuba diving, or rock climbing? I guess those could be classified as “Extreme Hobbies” or as Farmers puts it, “Insane Hobbies”.  For the thrill-seeking, adventurous crowd, luck may be on your side, when it comes to your Life insurance that is. There’s a possibility that your policy may cover your hazardous activities.  Be expecting there to be a few exceptions but if you are willing to pay extra for it there may be coverage for a few insane hobbies that life companies can insure.

While these ‘Extreme Hobbies’ are high risk, there are requirements for this coverage and it may be a little difficult to obtain. It all comes down to you. Being responsible, safe, having experience in your ‘craft’, taking known precautions and just being honest with your agent will definitely help in the process. To dig a little deeper, here are 5 extreme hobbies that insurance can cover and what needs to be in place for the possibility of coverage:

1.      Hang Gliding – If it’s just something you can’t live without coverage is possible. Though it may add to your premium, a certification and, of course, experience will help get you coverage.

2.      Hot Air Ballooning – Most insurers don’t have issues with

coverage for Hot Air Ballooners that have a pilot’s license and experience. With the number of accidents in the hot air ballooning category not being very high, your chances are pretty good to get coverage.

3.      Motorcycle Sports – Whether you are riding on a track at crazy speeds or riding to work, expect to pay an extra premium. Motorcycle riding for sport or not, still is dangerous. While wearing a helmet isn't the law, it will help!

4.      Rock Climbing – This is a tough one to cover. If you practice safe climbing with a harness and all the right equipment, there’s a chance of getting you into a Life policy. If you like to go out and climb a rock without a harness, the odds are not forever in your favor.

5.      Scuba Diving – This activity is one of the hardest to get coverage for. That’s not saying you can’t get coverage with this activity on your hobby list. If you have had lessons and preferably, have your certification, getting coverage to be shark bait, I mean, to scuba dive is a possibility.

It’s all about being responsible, taking precautions, and just being safe. It’s also a good idea to have your certification or license, protect yourself with any and all protective gear possible and just honest with your agent.  Tell them up front what your extreme sport is so they know what to look for in the best coverage for you.  If you are able to do all of the above, your agent may be more inclined to taking a risk on you and get you into a life insurance policy.