If you are a professional sports person or sports instructor, often you participate in a particular sport a lot more than the average person. This means, especially when it comes to extreme sports, that you are classified as higher risk of injury (or worse) as a result of your sport. Getting the right financial protection for peace of mind that you, your home or your family is protected may be important to you if you are a sports instructor for high risk sports.
Do I need specialist insurance?
Anyone who has a high risk occupation or takes part in a hazardous hobby should consider speaking with a specialist insurance provider. This is because certain life insurance, critical illness and income protection policies will add premiums and exclusions if you regularly take part in extreme sport. The risk of this is that you may not be fully protected should anything happen such as a debilitating injury as a result of your sport or occupation.
A specialist sports insurance provider like Sports Financial Services has the knowledge, experience and connections to get you the right cover at the best rates. With mainstream insurers the initial quote may appear cheaper, however when you come to apply for the insurance you could be faced with added premiums or exclusions. Sports Financial Services are able to give you a much more accurate quote that already takes your extreme sports activity into account. What’s more, they are one of the UKs leading specialist sports insurance providers, they are endorsed by the OIA (outdoor industries association), this means that they are recognized experts in the industry and most importantly have the knowledge to ensure you get the right financial protection for your sport.
Benefits of specialist insurance
- Personalised service
- Knowledge of the industry
- Understanding of your sport
- Easy application process
- Free, accurate quote
- Potentially lower/ more competitive rates
Negatives of specialist insurance
- Potential for limited discounts
- Customer services may be less readily available
Can I still use mainstream insurance?
Although specialist insurance is recommended if you are looking for cover for your extreme sport, it is possible to use a mainstream insurance provider too. Often a mainstream provider offers a range of insurance types from car insurance to pet insurance as well as sports. This means that they may be able to get good insurance rates but also means that you may not be able to get expert advice or even the right protection for your needs. A common issue that arises with mainstream insurance providers is that they may offer a seemingly great quote, yet this might not include all of the aspects it should. Therefore you may end up not getting the coverage you need or could see hidden premiums and exclusions.
Benefits of mainstream insurance
- 24/7 customer services
- More likely to offer discounts
- Universally recognised which can minimise the hassle of having insurance validated after an accident
Negatives of mainstream insurance
- Less personal attention
- Limited knowledge or specialism of your sport
- You’ll be supporting a large business that may spend more money on advertising than on the customers when you could be supporting a local economy
- Risk of inaccurate quote leading to hidden premiums and exclusions