The Paris 2024 Olympic Games loom on the horizon, and with them a spotlight on the diversity of sports represented. Among these disciplines, some are considered dangerous by borrower’s insurance. If you are passionate about these sports and you are considering taking out a loan, it is essential to understand the consequences for your loan insurance.
Dangerous sport in the eyes of the borrower’s insurance
Several disciplines present at Olympics is classified as risk sports by loan insurance. In particular, we can mention:
- climbinga sport that will make its debut at the Tokyo 2020 Olympic Games and will be present at Paris 2024;
- freestyle BMXa spectacular discipline that made its Olympic debut in Tokyo;
- skateboardinganother newcomer to the Olympics who has won over the public;
- surfwhich was scheduled to appear in Tokyo but was postponed to 2024 due to weather conditions;
- boxinga historic sport in the Olympics but still considered to be at risk;
- rugby sevensa faster and more intense version of rugby union.
This list is not exhaustive and the classification of dangerous sports may vary depending on insurance companies and contracts. Other sports such as track cycling, diving or water polo may also be considered at risk by certain insurance companies.
Declare your sport during the medical questionnaire
When you take out a loan and practice a sport that is considered dangerous, it is important to mention it under the borrower’s insurance medical questionnaire. This step is very important because playing a risky sport can affect your coverage and the price of your insurance.
By specifying your sporting activity, you provide the insurance company with the necessary information to assess risks and offer you a contract on measure. The insurance company may ask you for details about your practice, such as frequency, level (amateur or competitive), club membership, etc. These elements will allow it to refine its analysis and offer you appropriate rates and protection.p.
Securing your credit despite a dangerous sport
Playing a sport that is considered dangerous does not prevent you from insuring your credit. However, this can result in certain conditions or restrictions in your loan insurance agreement :
- udoes not impose a surcharge, i.e. an increase in the price of your policy, to compensate for the increased risk;
- dwarranty exclusions for certain specific risks associated with your sport (for example, accidents in competition);
- un ceiling for compensation paid in the event of an accident in connection with the practice of your sport.
It is therefore important to carefully read and understand the terms of your loan insurance agreement. Don’t hesitate to ask your insurance company all your questions to make sure you understand the guarantees you enjoy and any limitations. Some insurance companies are more open than others to risky sports and offer specific contracts to athletes. It is therefore important to compare all solutions on the market before taking out your loan insurance.
Find the best loan insurance
