Life insurance while motor racing?

**TonyB** · 24th June 2008, 07:11

Does anyone know of an insurance company that will cover you while participating in motor racing WITHOUT charging you huge levies? Is there a specialist company that covers you relatively cheaply? Maybe on an event by event basis?

I guess this will turn into a discussion about whether its fair and reasonable for insurance companies to do this... Meh- as long as I get some answers its all good.

**svs** · 24th June 2008, 10:04

If it's only life cover you are after, then you are covered by MNZ insurance, providing you are competing at MNZ permitted events. That gives $15k to you next of kin in case of a fatal accident.

Doesn't cover serious injury though, so you might have to look elsewhere for that.

**skypig** · 24th June 2008, 11:14

ACC is the best thing going for MC racing surely? When I lived in Australia I spent a large amount of money for a relatively low level of coverage with a company called “Combined”? (used to be American Combined).

Get paid set amounts for “specified” injuries and limited time off work, up to 6 months if I remember correctly.

Most companies won’t touch you.

**TonyB** · 24th June 2008, 11:28

$15k is peanuts with all due respect. As I have a wife, kids and a mortgage I want cover that at least pays off the mortgage and pays for the funeral. Otherwise the consequences for my family are pretty huge. My wife works with a woman who has suddenly found herself in this situation- high earning husband dies unexpectedly and had no life insurance- its a shitty situation.

ACC only helps out when you injure yourself.

**Shaun** · 24th June 2008, 12:00

Originally Posted by TonyB

Does anyone know of an insurance company that will cover you while participating in motor racing WITHOUT charging you huge levies? Is there a specialist company that covers you relatively cheaply? Maybe on an event by event basis?

I guess this will turn into a discussion about whether its fair and reasonable for insurance companies to do this... Meh- as long as I get some answers its all good.

AMERICAN COMBINED INSURANCE

Spend the money, and get the good package

Sorry, do not have a phone number, but they PAY, and PAY quick

**TonyB** · 24th June 2008, 12:21

Thanks Shaun! So is this them?
http://www.combinedinsurance.com/

**Clivoris** · 24th June 2008, 17:07

I have the same dilemna. Pay for Life insurance and income protection, but am not covered for road racing. I nearly tried to explain that if they thought I was safer on the road riding for fun and transport they were sadly mistaken. I am covered for this. Then I realised I was probably risking having that cover taken from me as well.

**Mom** · 24th June 2008, 17:12

Originally Posted by skypig

ACC is the best thing going for MC racing surely? When I lived in Australia I spent a large amount of money for a relatively low level of coverage with a company called “Combined”? (used to be American Combined).

Get paid set amounts for “specified” injuries and limited time off work, up to 6 months if I remember correctly.

Most companies won’t touch you.

Is American Combined still around? We used to have that years ago when my then hubby was racing, it was wonderful. Reasonably priced, and claims settled in days!

Might have to go and look at that link, it is good for us non-racers too.

**Kickaha** · 24th June 2008, 17:37

Originally Posted by Mom

Is American Combined still around? We used to have that years ago when my then hubby was racing, it was wonderful. Reasonably priced, and claims settled in days!

Might have to go and look at that link, it is good for us non-racers too.

I have had two claims with them, and payment was prompt with no arguing

I don't think they actually do a "life insurance policy" though
they just cover you for broken shit, arms, legs etc

**Mom** · 24th June 2008, 17:55

Originally Posted by Kickaha

I have had two claims with them, and payment was prompt with no arguing

I don't think they actually do a "life insurance policy" though
they just cover you for broken shit, arms, legs etc

I I remember properly they covered you for being unable to work as a result of accident, this was not income based, you chose the level of cover ie. payment you wanted to receive and they covered you for that, specialists visits, Xrays etc reimbursed, I seem to remember a sickness policy too.

I know they are still around, a couple of years ago a bloke from ACI came to our door asking for the previous owner (they used to call and annoy you often to upgrade your policies too as I recall...LOL) I dont remember Life Cover being offered, but seriously if you guys that are racing need insurance and this company is still offering cover for accident, you should have a good look.

To be fair we probably got our premiums back and then some over the years we had cover.

**Kickaha** · 24th June 2008, 18:02

Originally Posted by Mom

I I remember properly they covered you for being unable to work as a result of accident, this was not income based, you chose the level of cover ie. payment you wanted to receive and they covered you for that, specialists visits, Xrays etc reimbursed, I seem to remember a sickness policy too.

Correct

Originally Posted by Mom

I know they are still around, a couple of years ago a bloke from ACI came to our door asking for the previous owner (they used to call and annoy you often to upgrade your policies too as I recall...LOL) I dont remember Life Cover being offered, but seriously if you guys that are racing need insurance and this company is still offering cover for accident, you should have a good look.

To be fair we probably got our premiums back and then some over the years we had cover.

I am still covered by them, I made more than the premiums back in the first 12 month

They still call every 6 months

**Mom** · 24th June 2008, 19:29

Originally Posted by Kickaha

Correct
I am still covered by them, I made more than the premiums back in the first 12 month

They still call every 6 months

Can I PM you my details for you to forward them to the company?

Shit you racer guys, this is an opportunity you really need to follow up on.

**CHOPPA** · 24th June 2008, 21:13

yea man american combined is the ticket! ive had it for around 7 years and they have paid around 20k to me in comp in that time with no questions asked! My last injury was when i broke my collar bone the only thing that i could be thankful for while doing the walk of shame is that i had a few k coming my way!

**NinjaBoy** · 24th June 2008, 21:26

Originally Posted by Clivoris

I have the same dilemna. Pay for Life insurance and income protection, but am not covered for road racing. I nearly tried to explain that if they thought I was safer on the road riding for fun and transport they were sadly mistaken. I am covered for this. Then I realised I was probably risking having that cover taken from me as well.

Interesting. I made the same enquiries on existing policies before I started racing. Essentially as they were pre-existing policies I was covered based upon info at the time I took out the policies. Changes in circumstances did not alter the policy terms despite the change in risk. I have this in writing. May pay to re-check.

**sidecar bob** · 24th June 2008, 21:55

I didnt realise there was any problem there.
I fully explained my situation to my broker & it made no difference to anything.
He was far more interested in wether i smoked or not, than the fact that i swing for captain nut bar.