Leisure at risk and borrower insurance do not mix well (Photo credits: Unsplash – Sebastian Staines)
Although not often considered, the practice of a risky sport can have a direct impact on your homeowner’s insurance coverage. Explanations.
What is a risky sport?
When we talk about “risky sports”, we usually think of disciplines that seem to be quite obvious to practitioners, such as hang gliding, climbing, or bungee jumping.
But in terms of insurance, the category is much broader: each company is free to establish its own list of sports and leisure, which the desire to classify as “at risk” is based on, among other statistics. to determine the physical practices that result in the most serious accidents, which can result in death or disability.
Thus, cycling, judo, fencing or even karate are often considered “extreme” by insurers, just like horseback riding or … rollerblading.
To know the activity, which your passion is considered or not risk through your insurance company, carefully consult the general conditions of the contract or contact the insurer directly.
What are the consequences for your borrower insurance?
Like all other insurance, the purpose of home loan insurance is to cover a so-called “random” risk, that is, independent of the will of the parties.
However, when you practice a sport or leisure at risk, you consciously put yourself at risk: no one forces you to practice skiing or climbing, you do it by choice, knowing that it is an activity during which you can hurt you more or less.
This disappearance of the random side of the risk has direct consequences on the validity of your borrower’s insurance contract.
What should you do if you play a risky sport?
If your practice of a risky sport is regulated, you must report it to your insurer at the time of signing the borrower insurance policy.
This will have an impact on the impact on your risk profile and may:
- Either you apply an exclusion clause, ie you will not be covered by your contract in the event of death or sequelae following an accident during extreme sports.
- Either offer to pay a premium surcharge, in exchange for which you will be covered even during the practice of the declared extreme activity.
Bon à savoir: If you have a passion for a sport at risk, after you have written the contract, you are still in the same state of signaling what change of your insurer.
What happens when you are on vacation?
Little is thought of in the euphoria of the moment, but the occasional activities that can be practiced on vacation are also affected by the rules set out above.
If you are thinking of taking a jet ski pendant, leave, you need to make sure you are safe. Certain insurance companies offer you to pay a temporary surcharge to be covered.
If you do not declare this or if this insurer decides on an exclusion clause, keep in mind that in the event of an accident, even with long-term consequences, you will not be covered and will have to continue to assume the home loan repayment.
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Stéphanne Coignard ([email protected])