Benefit from credit insurance adapted to the practice of trekking
Trekking is a hike in the mountains. It is a sport and a form of tourism that takes place on foot over several days and requires light travel. The sleeping trekker is usually in the tent, bivouac, refuge or homestay.
You practice a sporting activity, trekking and you have difficulties to ensure your loan?
When you submit a mortgage application to your bank, it requires that you sign up for loan insurance to give you the loan. Indeed, banks and other lending institutions want to guard against the possible risks of default of the borrower that may occur during the repayment of this long-term loan. Loan insurance is essential because it protects the bank, the borrower but also the close of the borrower since it allows them to not recover the debt and keep the property financed if he died. Thanks to the Lagarde law of September 2010, you are entitled to take out your loan insurance outside your bank, from the insurer of your choice. The bank is obliged to accept an individual loan insurance contract (delegation of insurance) when it presents guarantees at least equivalent to those of the group contract it offers to the borrower.
Exclusions often come back when you sign up for a bank loan insurance policy: risky sports such as trekking are part of sports practices that pose a problem for insurers to cover the senior loan.
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Trekking: attention to exclusions
Trekking can be the subject of an exclusion of many insurance contracts loan because it is a sports activity considered at risk by the insurers. It is therefore important to check these exclusions in the contracts when comparing loan insurance offers. It is possible for you to withdraw this exclusion by paying a surcharge.
Some insurance contracts give the possibility to buy back exclusions, the insurance company agrees to ensure the practice of certain risky sports such as trekking.
Pay your loan insurance cheaper with a broker!