Insurance For Adventure Sports

While some like the idea of sunbathing by the beach, or visiting exotic eateries, or maybe just reading their favourite novel on a holiday; some like a good adrenaline rush.

Bungee jumping, mountain biking, climbing, kayaking, river rafting, and scuba diving are some of the favourites of adventure travellers in India these days. From Goa to Manali and Kovalam to Rishikesh, most popular destinations have adventure activities to offer tourists. Perfect for anyone who loves the thrill of adventure.

Here’s some good news for anyone who loves adventure sports. Insurance protection is now available to give you a safety net while you take that joyful ride. Unlike traditional policies or accident covers, the new personal accident insurance care fits into the new-age risks associated with the changing lifestyles of Indian customers.

Why take insurance for adventure sports?

While policies of this kind are available abroad; in India, if you were to opt for adventure sports, other than personal accident insurance cover, there were no other domestic policies that covered such activities. Also, due to increased risk of injury or life loss, traditional insurance policies come with specific exclusions to leisure activities, restricting policy holders from taking part in adventure sports. However, in a move to fit into a market with new and growing interests, the new policy allows customers to choose terms to suit their requirements.

What does a new-age insurance policy include?

Targeted towards adventure tourists in India, you can now pick from a variety of covers ranging from accident hospitalisation to provision for an air ambulance. The insurance company offers a cover of up to Rs. 1 Crore, for death or permanent disability for policyholders who are into high-risk sports activities.

However, the risk cover is only for non-professional involvement, where the policyholders engage in activities just for leisure. There is also a condition stating that the sports activities need to be performed under the strict supervision of a trained professional in order for it to qualify as insurable risk. If a policyholder engages in a high-risk activity without the supervision of a trained professional, the insurance company rejects the claim.

Apart from adventure sports coverage, the policy also provides fracture care, loan protector cover, and EMI payment cover, in case of an accident.

The adventure sports cover is currently available as an add-on to the base personal accident policy. The premium payable depends on the payout option you select, which can either be 25%, 50% or 100% of the sum insured for adventure sports risk cover. The premium payable for this cover is in addition to the premium payable for personal death cover.

The limitation of this insurance policy is that it does not allow cover for partial disability or temporary injury.

Additional Reading: Only 30% Of People Below 35 Years Opt For Health Insurance

How the policy works

Let’s understand this with the help of an example. If a person who often goes on adventure tourism opts for a cover of Rs. 1 Crore; under the new personal accident policy, the person has the option to take a payout of up to 100%. The ceiling limit is Rs. 1 Crore. If the base policy is of Rs. 2 Crore, he can opt for a payout of 50%. The premium will be charged as per the chosen percentage.

Why should you get a cover for adventure sports?

If you are a sports enthusiast and can’t resist from indulging in adventure activities, a risk cover is important. And remember an adequate cover can protect you and your family from a huge financial burden. It’s as simple as that!

Now that you know that options are available for you to protect yourself financially, remember to opt for the add-on before you go on your grand adventure.