Loan insurance and dangerous sport like mountaineering
July 2, 2019
Loan insurance and the practice of a “risky” sport such as mountaineering
Mountaineering is a sports activity practiced in the high mountains, consisting of climbing uphill using different techniques. Alone or with others, this sport presents risks which it is essential to take into account during the ascent.
Do you practice a sporting activity, mountaineering and you have difficulties to ensure your loan?
Exclusions often come up when you sign up for a bank loan insurance policy: risky sports such as mountaineering are part of sports practices that make it difficult for insurers to ensure the loan.
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Real estate loan insurance
Subscription to a home loan insurance is a condition required by banks to grant a mortgage. These offer their own insurance called “group insurance”. This is group insurance covering borrowers with the same level of guarantee. Borrowers have the option to opt for the “insurance delegation”, which is the act of taking out their loan insurance with the insurer of their choice. This opportunity allows them to play competition between insurers and benefit from the best coverage conditions at the best price.
Mountaineering practice: your banker may be reluctant
In the case of mountaineering practice, your banker may apply surcharges or refuse to insure you. It is preferable to purchase individual loan insurance to obtain a tailor-made cover.
Contact a loan insurance broker! The brokerage firm Deirdre.fr is able to offer you the most suitable loan insurance offers for your situation.
Some insurance contracts give the possibility to buy back exclusions, the insurance company agrees to ensure the practice of some risky sports like mountaineering.