Didn't have any trouble with mortgage and/or insurance. All I had to do was fill in an 'Aircrew Questionaire' which asked for hours, type of flying (recreational or biz) and a few other questions. Never heard from them again (and have remortgaged two or three times in the interval, remaining with same insurance). If you shop around a bit, this should really not be a problem.
About the risk - that's a different matter. I reckon (other than the various comments above), one of the biggest risk-reducing strategies is the courage to say NO. No to a flight in marginal conditions, no to pushing on in weather that's getting worse, no to departing with an airplane you're not 100% sure about. It's not easy to send friends who have come to the aiport for a pleasure flight back home, I know. But sometimes this is exactly what you have to do.
Enjoy flying - and stay careful up there.