How to Protect Your Sports Team: 5 Easy Tips
Protect your sports team from financial risk by building the right insurance plan from the start. First, the right policy keeps players, coaches, and fans safe from costly claims. Next, it protects the equipment, funds, and reputation your team has built. At Bene-Marc Youth Sports Insurance, we have helped teams across all 50 states find coverage that fits. More importantly, one uncovered loss can undo years of fundraising and volunteer effort in a single season.
Managing a sports team is more than tracking scores. However, the financial side of the game often catches leaders by surprise. So, here are five easy tips to protect your sports team from the most common risks.
1. Protect your sports team property and gear
First, your team has invested in uniforms, footwear, safety gear, and training equipment. For example, a stolen pitching machine or a damaged scoreboard can drain your budget. As a result, property coverage helps replace what was lost and keeps practice on schedule. Most policies let you schedule big-ticket items like scoreboards and pitching machines at full replacement value. As a result, you are not left covering the gap between a depreciated payout and the real cost of buying new. Replacing a scoreboard or a full set of uniforms out of pocket can easily cost more than a year of premiums.
2. Guard against crime and embezzlement
Next, theft is not the only crime risk. Unfortunately, internal fraud or embezzlement from staff or volunteers can hurt your books. However, crime coverage helps recover stolen funds and keeps your team financially sound. Because many youth groups run on volunteer treasurers and cash-heavy concession stands, a small dishonest act can slip by for months. Crime coverage steps in to recover those funds so a lapse in oversight does not sink your season.
3. Protect your sports team with liability coverage
Then, liability coverage helps if a fan or volunteer is hurt at a game or sanctioned training. For example, a guest could trip near the bleachers. So, the policy helps fund medical bills and any legal fees. In fact, many venues require liability before they allow play. According to Aspen Project Play, safe play is a top priority for youth sports leaders. Limits of $1 million per occurrence are common for youth programs. In fact, many field and gym owners will not issue a permit until they see proof of that coverage on a certificate.
4. Cover player injuries with accident medical
Moreover, player injuries are part of the game, especially in contact sports. For example, a concussion or a broken arm can mean a big medical bill for a family. As a result, accident medical helps cover those costs during sanctioned practice or play. This coverage pays alongside a family’s health plan and picks up the deductibles and copays they would otherwise face. As a result, a sideline injury does not turn into a stressful household bill.
5. Plan for board claims with directors and officers
Finally, board members can face claims of wrongful termination, discrimination, or rulebook disputes. Still, directors and officers coverage helps fund the legal defense your leaders may need. Of course, your Bene-Marc Youth Sports Insurance agent can layer these protections to fit your team budget. Even a baseless complaint from the parent of a cut player can cost thousands to defend. Directors and officers coverage stands between that legal bill and your volunteers’ personal savings.
Ready to protect your sports team? Call Bene-Marc Youth Sports Insurance at 800-247-1734 or visit our leagues and tournaments page to start a quote. You can also explore league coverage and tournament protection.
