[Leon441]

In the mist of buying new land and building a new house the wife is concerned about being left to pay the bills in the event of my death.

So I am back into looking at life Insurance. In the past when they ask about dangerous hobbies such as Drag Racing I threw the application away. Well it seems they all ask that question. I called a life insurance on line service that shopped prices. Told them $500,000 30 year term for starters. Then they asked a few questions about me and my health. Then they asked a ton of questions about racing. They came up with $350 a month for the premium.

It was only $80 if Drag Racing was off the table.

Do I need to quit so I can get Life Insurance?

Darrell Russel did not have coverage while Drag Racing and supposedly his family is really having a rough time.

just for info I am not shopping $500K insurance that is just the breakoff point. I priced $300K and $400K it was only $10 difference for non racers. Also most terms are 20 year instead of 30 don't know much about that either.

Are those of us that race risking our families livelyhood simply because we race.

Leon

 

[HEADSUP]

I got 20 yr term life 250,000 policy for 68.00 month. Mine is from Farm Bureau in N.C. My adjuster said as long as I didn't race for a living (Hobbie) I would be fine. If I get smoked while racing and they don't pay I will haunt that Sucker. LOLOLOLO

 

[race9899]

If you were to die racing and you put that you did not race on the application but they can prove that you did or had intentions of doing so when the policy was made they can get out of paying

Rating you for Drag Racing is a Crock anyway because they rate you based of off the speed you attain, without any consideration fr the length of time the race takes, so a Sprint Car Driver would get rated the same as some guy who races a 10.50 car at the drags!

 

[turbomach1]

state farm will cover you, and its pretty reasonable, i cant remember how much, i pay once a year

 

[kelly andersen]

Contact Mr. Bill Lutz, He can answer all your questions.

 

[Bill Lutz]

There's 2 ways to go about this. 1) You tell the truth and you have no issues if something were to happen to you at the track or 2) You state that you don't race and once you make it past 24 month's from the time that you were approved they have no option but to pay the policy because there is a clause called a "non contestability" meaning after 2 years anything can happen even sucicide and they have to pay. I know the faster the car the more the policies cost for sure.

 

[Blown & Injected]

Hit up Mel Eaves at Gulfway Insurers at racensur.com

I am sure he can get you in the right direction, he insures the Pedregons, the Hartmans and many more racers. If he doesn't do life insurance, I am sure he can hook you up with the right people.

 

[Shelton_Barrs]

I was told basically the same thing that Bill Lutz said by my agent. At the time I got mine I was not racing on a regular basis so it was no big deal, now I am well past the 2 yr limit so I am covered no matter what.

 

[Leon441]

Thanks Guys

 

[Mike Beck]

It really depends on how fast you go (on the track that is).

I was quoted a crazy amount because they thought I drove Top Fuel. When the dumb-ass actually submitted my slow-ass 9 second ET the price for $1,000,000 came down to $1200 per year.

 

[Matt Hill]

Just put down astronaut as a profession and the drag racing won't effect your coverage at all...

 

[cadpro]

My adjuster said as long as I didn't race for a living (Hobbie) I would be fine.

This is what my guy said to. He said as long as I don't make a living off of driving (or doing other dangerous things like riding dirt bikes, atvs, etc.), I would be covered. If I do them as a hobby, there would be no problem.

My $300k policy costs me $40 a month.