Car insurance for professional sportsmen and women EXPLAINED
Earning a living through professional sport has many unique and difficult challenges.
If you describe your occupation as sportsman or sportswoman, you’ll probably find it’s just as difficult when searching the internet for suitable car insurance.
To put matters simply, your premiums are going to be expensive – regardless of your gender, age or income level.
That’s because most standard insurers cannot provide car insurance for professional sportsmen and women or people in the public eye.
Thankfully, N&R Sports can access specialist markets to offer complete protection at a price you can afford.
The aim of this guide is to outline why we’re different and explain:
- How insurers define a professional sportsperson
- Why they pay more for car insurance
- 3 actionable tips to reduce your premium
What is a professional sportsperson?
In the insurance industry, a professional sportsman or woman are categorised as anyone who makes their main income from performing a sport.
Some standard market insurers define a professional sportsperson as someone who earns over £5,000 per year from their sport – even if they are not doing it as a full-time occupation.
This could also include young adults who are on a paid sports scholarship or apprenticeship, even though they are not yet considered a ‘professional’ with a full-time contract.
Why do professional sportspeople pay more for car insurance?
In our experience, insurers are often reluctant to cover professional sportspeople for 5 main reasons…
1. You often reach the pinnacle of sporting prowess in the early years of your life – a period where exposure to risks is naturally heightened.
2. High-profile sportspeople are more likely to drive a prestige vehicle – which may be rare, expensive or both – and cost more to repair or replace.
3. The risk of vandalism or damage caused by the public is heightened.
4. The personal injury settlements awarded could be very high if you’re ever involved in a serious accident.
5. The pay-out for loss of earnings due to injury can be astronomical – especially if the car is carrying a load of well-paid colleagues as passengers!
N&R Sports is different from standard market insurers because we provide many benefits they cannot offer – including:
- Enhanced passenger liability limits
- Insurance for modified or high-performance cars
- Agreed and extended value cover in the event of a total loss
- Annual EU policy available for UK registered cars
- Flexible driving options – any driver, any car cover
- Malicious damage and vandalism costs
- Enhanced courtesy car during repairs
Does the type of sport you play affect your premium?
Yes, the sport you play does make a direct difference to the cost of your annual premium.
For example, you’ll enjoy cheaper car insurance for professional sportsmen & women if you play an individual sport rather than being part of a team.
Basically, this is because you much less likely to be carrying team-mates in your car – reducing the risk of an expensive injury pay-out in the event of an accident.
At N&R Sports, we work with a range of high-profile stars and the sports we cover include:
- Snooker or Pool
- Ice Hockey
How to get cheaper car insurance for professional sportsmen & women
In reality, sports professionals will always pay more for car insurance – due mainly to the increased risks outlined above.
Fortunately, there are a few options which may help to reduce the cost of your premium.
1. Use a specialist insurer
Rather than using a standard market insurer or entering your details into a comparison website, it’s definitely worth speaking to a specialist insurer who can offer appropriate professional sports insurance cover.
At N&R Sports, we can tailor your policy based on your driving habits and individual circumstances.
Our independent experts listen carefully to your needs and understand your lifestyle before offering any advice. We then use our expertise to explore all the markets available to us in order to obtain the right insurance solution.
We adopt this approach so you can relax and focus on performing well, safe in the knowledge that you and your car are properly protected.
2. Install telematics
Telematics is a little black box which can monitor your speed, driving style and habits. The data is analysed by your insurance company and the amount you pay is reflective of your behaviour.
If you’re a safe driver, installing a telematics box could help to significantly reduce your premium.
However, this ‘big brother’ technology may not be suitable for drivers with privacy fears who do not want their movements being constantly monitored.
3. Adopt a portfolio approach
At N&R Sports we can often reduce the amount sportspeople pay to insure their car by adopting a ‘portfolio’ approach to insurance.
By placing your car, home and any other assets together with one insurer as part of one insurance portfolio, we can usually negotiate more favourable terms.
You benefit from better economies of scale because you’re asking the insurance provider to handle more of your business.
Why a cheap policy isn’t always the best option
At N&R Sports, we understand the needs and assets of sporting professionals – and can help to minimise the risks you face.
Thankfully, most professional sportsmen and women understand that the cheapest car insurance is not always the most appropriate option.
In our experience, policies from standard market insurers are often inadequate – containing warranties and clauses designed to protect their interests instead of yours.
Our tailored insurance solutions don’t compromise on protection, providing a suitable level of cover for every car you own or drive – so you can focus on yourself and achieving your sporting dreams.
For a free no-obligation quote, call 01785 255514 to discuss your options.