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post #1 of (permalink) Old 09-07-2010, 10:37 PM Thread Starter
Headed for the Mountains
 
Join Date: Feb 2008
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Default Insurance that covers climbing

Does anyone know an insurance company (in Canada) that provides life and disability insurance for climbers at a decent rate?

Have this type of insurance currently through my employer but if I decide to go independant again I want to make sure I get proper insurance (which will put my wife at ease...)

Thanks!
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post #2 of (permalink) Old 09-07-2010, 10:56 PM
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Posting only for indexing to find thread easily later.
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post #3 of (permalink) Old 09-07-2010, 11:16 PM
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^ No doubt!!! And let's not forget,no body,no money!!! Sad!!
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post #4 of (permalink) Old 09-08-2010, 06:35 AM
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I've been through this extensively over the last few years, and my broker could not find an insurance company that did not charge a premium for my high-risk activities. They all have a "lifestyle" questionnaire, and if you do not answer truthfully, you will be denied any coverage if something happens.

I have a policy through work that has no such clause, so I am covered there. I have another $200K policy that covers me, and since I bought it a long time ago, is reasonably priced (~$35/month) and I have another $250K policy that I bought recently that does NOT cover me during certain activities (~$40/month). The price difference was shocking. (prices for covering me climbing ranged from $200 to $500/month)

The best bet is to work with a good broker that can search various companies for the best fit for you. My problem was that I hit four of the worst six outdoor activities (mountaineering, rock climbing, backcountry skiing/ski mountaineering and waterfall ice climbing) as well as the frequency of getting out. Sure, I'm a weekend warrior, but I spend a lot of time in the mountains, and quite a bit doing the fore-mentioned stuff.
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post #5 of (permalink) Old 09-08-2010, 08:01 AM
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Co-operators offers that single-night free coverage through MEC. I assume it's a loss-leader, but it looks like they might offer coverage for specific trips or shorter periods of time. At least they're not 'anti-adventure-activities' right from the start! Might be worth asking.
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post #6 of (permalink) Old 09-08-2010, 09:09 AM
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Quote:
quote:Originally posted by peter1955

Co-operators offers that single-night free coverage through MEC. I assume it's a loss-leader, but it looks like they might offer coverage for specific trips or shorter periods of time. At least they're not 'anti-adventure-activities' right from the start! Might be worth asking.
I don't believe that is life/disability insurance. My understanding is that it is travel insurance.
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post #7 of (permalink) Old 09-08-2010, 09:36 AM
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Quote:
quote:Originally posted by johngenx

Quote:
quote:Originally posted by peter1955

Co-operators offers that single-night free coverage through MEC.
I don't believe that is life/disability insurance. My understanding is that it is travel insurance.
Right. It covers mainly emergency evacuation where that's not covered by someone else. I guess I was thinking the company seemed a bit more positive about adventure travel than most, because they offered that extra coverage.
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post #8 of (permalink) Old 09-08-2010, 10:24 AM
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BTW, when you apply for life insurance and fill out the lifestyle form, the insurance company then shares this information with all other carriers in Canada.
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post #9 of (permalink) Old 09-08-2010, 01:18 PM
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Quote:
quote:Originally posted by peter1955
I guess I was thinking the company seemed a bit more positive about adventure travel than most, because they offered that extra coverage.
They weren't very "friendly" when I was shopping for life insurance, but at least they would insure me, unlike quite a few underwriters. I can't recall who gave me the best quote for insurance with high-risk coverage, but it wasn't Cooperators.

I went with no-risk-activity coverage with Wawanesa. They offered slightly better coverage for the same price as the others ($250K at $200K pricing) so that sealed the deal.

A combination of life/disability that included high-risk coverage was right out of my price range. Given my age (over 40) and perceived risk (Evidently I am so kind of wild man, but I sure don't feel like one...) the rates for total coverage of that nature were hundreds of dollars per month.
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post #10 of (permalink) Old 09-08-2010, 01:58 PM
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Quote:
quote:Originally posted by peter1955

Co-operators offers that single-night free coverage through MEC. I assume it's a loss-leader, but it looks like they might offer coverage for specific trips or shorter periods of time. At least they're not 'anti-adventure-activities' right from the start! Might be worth asking.
They Cooperators canned this program. It is travel insurance. I tried to renew this year and they offered to sell me insurance instead.
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post #11 of (permalink) Old 09-08-2010, 02:23 PM
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I didn't have much trouble getting life insurance through London Life... I had to do a telephone interview, but I answered everything truthfully and told them about my mountaineering, backcountry skiing etc. and was approved.

I have another friend with some other life insurance that doesn't cover roped climbing, so when he's out in the mountains he has a saying: "if you think you're going to die, it's time to untie."
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post #12 of (permalink) Old 09-08-2010, 02:24 PM
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I told my climbing partner to haul my body down to the highway and throw me under a passing truck...
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post #13 of (permalink) Old 09-08-2010, 04:56 PM
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I think part of the problem is the fact that premium levels are TOTALLY subjective based on however the underwriter is feeling that day.

I was told by a former underwriter that if they don't like the sound of your name or if they just had an arguement with their boss. . .it will affect your premiums. . .probably negatively.

If they think you sound nice, or they have the same blood type as you, then you get a better deal.

I just kept applying to different companies and finally found one that will insure me for my stated activities (rock climbing, ski touring, etc.), without it costing me "hundreds of dollars" per month. . .

I've had more than one company say to me. . ."if you die climbing a mountain, we aren't paying". . .I've finally found one that WILL pay!!!
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post #14 of (permalink) Old 09-08-2010, 07:46 PM Thread Starter
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Quote:
quote:Originally posted by lobo

I was told very recently by my insurance company that as long as you don't climb professionally, that if it's only a hobby, a past time, you are covered. But I don't believe insurance companies at all. They say all these things to get you to sign up, but will they pay?
I hear you...that is my fear as well

Quote:
quote:Originally posted by johngenx


The best bet is to work with a good broker that can search various companies for the best fit for you. My problem was that I hit four of the worst six outdoor activities (mountaineering, rock climbing, backcountry skiing/ski mountaineering and waterfall ice climbing) as well as the frequency of getting out. Sure, I'm a weekend warrior, but I spend a lot of time in the mountains, and quite a bit doing the fore-mentioned stuff.
I might just do that...not sure how much I want to pay though since Alpine climbing is only a small portion of my outings. The interesting thing is that rates are going up as soon as you put the rope on but in my opinion that is safer than some of the difficult scrambles I do while those are considered regular hikes and are covered by most insurance companies...

Quote:
quote:Originally posted by swebster

I didn't have much trouble getting life insurance through London Life... I had to do a telephone interview, but I answered everything truthfully and told them about my mountaineering, backcountry skiing etc. and was approved.
Sounds sketchy, would want to check their policy and their terms and conditions...

Quote:
quote:Originally posted by NathanC


I just kept applying to different companies and finally found one that will insure me for my stated activities (rock climbing, ski touring, etc.), without it costing me "hundreds of dollars" per month. . .

I've had more than one company say to me. . ."if you die climbing a mountain, we aren't paying". . .I've finally found one that WILL pay!!!
Can you share with us what company that is?

I think the overall chance of getting disabled over actaully dying is a lot higher while it seems like there are less companies that provide disability insurance while climbing(probably for that same reason).

Thanks everybody for their input and keep those suggestions coming. As soon as I have more information from my broker I will share this as well.
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post #15 of (permalink) Old 09-08-2010, 07:52 PM
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Oh, yeah, combined life/disability is expensive, especially full salary coverage if you make a reasonable living.
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