Bouldering is a form of rock climbing that involves scaling shorter natural rock formations or artificial walls without ropes. Over the years, bouldering has gained significant popularity among climbers who pursue bouldering as a sport itself or as part of their training for improving their overall rock climbing ability. As with any sport involving physical activity and potential risks, bouldering insurance has become an important consideration for climbers involved in this activity. Bouldering insurance can provide an important financial safety net if things go wrong.
What are the advantages of bouldering insurance?
Individuals may benefit from bouldering insurance, particularly if they frequently attend different indoor bouldering walls or participate in outdoor bouldering activities. Different options for financial protection provided by Summit Financial Services are life insurance, mortgage protection, income protection and critical illness cover.
Accidents in remote or challenging locations overseas might require specialised assistance which can be costly and travel insurance may also be an additional insurance to obtain. Summit Financial Services does not provide travel insurance but you can speak to us about the partners we work with.
Life Insurance, Critical Illness Cover and Income Protection Cover for Bouldering
Life insurance is a type of cover that pays out a lump sum if the policyholder dies during the policy term. It is there to provide some financial support for your family or loved ones after your are gone. This could assist in helping to contribute to mortgage payments or provide some financial support for your dependants.
Critical Illness Cover
Critical illness cover is a way to cover specific illnesses or medical conditions that might disrupt your life, family and finances. Anyone who takes part in hazardous pursuits like bouldering and enquires about critical illness cover will have their enquiry assessed against the climbing and other sporting activities they pursue. Cover for different types of activities will be assessed differently.
Cover for some sports can be offered at standard rates with no special terms imposed whilst participation in other sports may result in premium loadings, special terms, restrictions or exclusions. Your climbing specialist at Summit Financial Services will talk you through the options available to you based on a number of factors such as your climbing and bouldering activities, occupation and lifestyle.
Income Protection
Another important cover to consider is income protection, particularly if you take part in hazardous pursuits like bouldering. Income protection could provide you with peace of mind if you are unable to work due to injury or sickness.
If you have a loan, mortgage, credit cards, regular bills or family financial commitments then you may want to consider what would happen if you were unable to meet the payments because of a loss of income if you are unable to work.
Applications for income protection are dependent on many factors, for example, whether you have previously suffered any injuries as a result of bouldering and whether they have caused you to have a significant amount of time off work.
Again, like critical illness cover, participation in some sports and activities may result in premium loadings, restrictions or exclusions. But, don’t worry, your climbing adviser will discuss your needs and the options available to you.
Bouldering and climbing insurance
Bouldering insurance plays a pivotal role in ensuring the financial well-being of boulderers. As bouldering continues to captivate individuals seeking adventure and fitness, having relevant financial protection is a responsible and prudent choice.
If you would like to speak to one of our specialist rock climbing and bouldering advisors about cover, or would like to find out more about the benefits of cover for other sports activities, then contact Summit Financial Services on 0345 565 0937 today, or enquire online about cover.