Types of Sports Insurance
Responsibly operating a sports organization requires you to be mindful of many risks and exposures. Athletes, coaches, spectators and other parties involved in your organization could all be affected by accidents, errors and other incidents regardless of how diligent or experienced you may be; even the most meticulous risk mitigation efforts may eventually come up short. With this in mind, your organization should ensure adequate loss control measures, such as appropriate sports insurance.
Sports Insurance Options Available to Your Organization
The team at Bene-Marc Inc. has extensive experience specializing in providing insurance solutions to sports organizations across the United States. Furthermore, our agents are well-versed in customizing coverage to meet your organization’s specific needs and unique circumstances.
Consider your organization’s operations and how the following insurance options may help provide peace of mind and secure your financial stability:
Camps and clinics—If you run a sports camp or clinic, you should assess your operations and work with a qualified insurance professional to acquire appropriate coverage. This lets you focus on providing the best experience for athletes, coaches and other participants. Advisable policies may include the following:
- General liability insurance
- Excess accident insurance
- Commercial auto insurance
- Directors and officers liability insurance
- Sexual abuse and molestation coverage
- Employment practices liability insurance
Leagues and tournaments—Being in charge of a sports league or hosting a tournament can be exciting and rewarding. However, these ventures may make you legally responsible for thousands of people and expose you to potentially catastrophic losses. Secure your organization’s finances and allow the thrill of competition to be your main focus by considering the following types of insurance:
- General liability insurance
- Excess accident insurance
- Directors and officers liability insurance
- Commercial auto insurance
- Employment practices liability insurance
- Commercial umbrella insurance
K-12 sports—Student athletes enjoy many opportunities to hone their skills and pursue athletic aspirations while learning about teamwork, sportsmanship and goal achievement. However, operating a school-related sports program requires you to account for many risks and exposures and makes the following coverages advisable:
- Voluntary student accident insurance
- Catastrophic accident insurance
- Blanket mandatory school coverage
- General liability insurance
- Sexual abuse and molestation coverage
- Employment practices liability insurance
- Commercial auto insurance
Intercollegiate athletic insurance—College athletics can feature fierce levels of competition, and many participants even have professional aspirations. Regardless of skill level or future prospects, operating a collegiate athletics program requires significant risk management and loss control measures. Consider the following types of insurance:
- Basic athletics insurance
- Catastrophic athletic insurance
- Staff accidental death and dismemberment insurance
- General liability insurance
- Sexual abuse and molestation coverage
- Commercial auto insurance
- Employment practices liability insurance
Additional Coverage Options
Beyond the various standard coverage selections for the aforementioned types of sports organizations, you should also thoroughly analyze your operations to identify any remaining coverage gaps. Depending on your circumstances, your loss control measures should potentially include additional policies, such as the following:
- Professional liability insurance
- Cyber liability insurance
- Commercial property insurance
- Workers’ compensation insurance
- Business interruption insurance
We’re Here to Help
Contact the sports insurance specialists at Bene-Marc Inc. today to begin assessing and addressing your coverage needs. Our agents will work with you to analyze your organization, identify optimal policies and assemble an insurance portfolio capable of securing your financial stability and protecting your prospects.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.
