The practice of scuba diving is considered as a risky sport link to the article “How to choose your insurance when you practice scuba diving”. Indeed, it is listed in the TOP 3 of the most dangerous sports activities. Whether you are an amateur or a professional sportsman, practicing such a sport can have an impact when taking a home loan insurance policy.
What is loan insurance?
A loan insurance is not mandatory. However, in the event of disability or death of the borrower, it allows to repay a capital left owing to the lending agency.
When an individual wishes to make a mortgage, the organization systematically carries out a risk assessment. Indeed, it assesses the health status of the person and the likelihood of an accident occurring. If the risks are high, then the lender will refuse to grant a home loan without standard insurance subscribed.
The consequences of practicing such a sport for a home loan?
Whether the practice is intensive or recreational, scuba diving is considered a “risky” sport. This can therefore be a handicap to the acquisition of a loan insurance and therefore a mortgage loan.
Indeed, the lending agency will agree to issue a credit if and only if the individual subscribes to an insurance contract. For insurers, a person practicing such a sport is more likely to be the victim of an accident than the average. Rare are the insurance companies that insures this risk.
What are the options for securing a loan?
For the extreme sports enthusiast and especially for scuba divers, it is essential to find the right insurer. For this, it is necessary to go through a specialized insurance company profiles at risk, which will accept to cover your loan while remaining accessible in terms of rates. As for traditional insurance, you can be advised and accompanied by a brokerage firm.