Sports Facility Insurance: Cost & Quotes From $11

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Did you know that ‌concussions affect 1.6 million to 3.8 million athletes each year? Also, it was found that in 2020, 86% of fatal watercraft accident victims drowned, and 75% of these were not wearing life jackets.

Moreover, nearly 3.5 million children aged 14 and younger were injured while participating in sports or other recreational activities in 2020. Sports and leisure activities were responsible for around 21% of all traumatic brain injuries in children and adolescents in the United States.

This demonstrates that sports-related activities can cause injuries, some of which are deadly. Concussions and other sports injuries are becoming more of a worry, and million-dollar lawsuits because of them have made it to national news. That’s why insurance is required to protect every aspect of your sports facility.

Depending on the sporting events, you have to purchase specific insurance policies for your sports facility’s financial security. In this guide, let’s talk about the policies available for indoor sports facilities, water sports facilities, rock climbing sports facilities, and soccer sports facilities.

Also read: US Lacrosse Insurance: Quotes From $11

Indoor Sports Facility Insurance

Indoor sports facilities can have a wide range of amenities, so having comprehensive business insurance is essential to avoid coverage gaps. There are a lot of precautions you can take to guarantee that your sports facility is fully insured in the event of a lawsuit, damage, or loss.

These are the ‌insurance for sports facility you can use to protect your indoor sports facility:

• General liability - If you caused bodily injury, property damage, personal injury, or advertising injury to a third party

• Commercial property - If an unexpected disaster damages or destroys your sports facility, such as fire, hail, storm, riots, and other covered perils

• Professional liability - To protect the professionals you have hired, like trainers, coaches, or instructors, against negligence, malpractice, or misrepresentation, initiated by their clients.

• Workers' compensation - Provides financial and medical benefits to employees who incur work-related illnesses or injuries

• Liquor liability - If clients consume alcohol provided by your establishment and cause injury to others or damage their property

• Business interruption insurance - Covers the company's net income and typical operating costs such as rent, wages, and taxes. This happens when your business is forced to close for an extended period due to physical loss, damage, or destruction caused by a covered risk.

Water Sports Centre Insurance

If your facility includes water activities , you must know and manage all the hazards to ensure the safety of your consumers.

Water sports are popular among many people since they are exciting. Thus, compared to other sports, such as soccer, the risk associated with water activities may be greater. You'll need insurance coverage to safeguard your sports facility from risks, and th ese are some of the policies included in water sports centre insurance:

• General liability - When a consumer has an injury while participating in one of your facility's aquatic activities. Additionally, it protects you against financial losses in the event of property damage or injury to a member of the public

• Professional liability - Client claims for losses caused by your or your employee's negligence

Climbing Wall Insurance

Climbing wall is an artificially constructed wall with grips for hands and feet, usually used for indoor climbing but sometimes located outdoors. It is also known as rock climbing. This is an intense full-body activity that integrates aerobic exercise with muscle building.

Considering the average rock climbing gym in America spends between $400 - $1,100 per year for $1 million insurance coverage. You need these policies included in your rock climbing wall insurance for the best protection:

• General liability - Pays the compensation for bodily injury or property damage and legal defense if a client is injured while rock climbing

• ‌ Business owner's policy (BOP) - A policy that merges general liability and commercial property insurance

• Commercial umbrella - Picks up when your general liability insurance or other liability policies reach their limits

• Product liability - Provides coverage if your climbing wall facility sells climbing equipment and a client claims it caused them harm. This policy will take care of your responsibility to compensate clients for their losses

Soccer Field Insurance

A soccer pitch has a variety of individuals on it at most times. These individuals include spectators, players, coaches, referees, and other personnel. As a result, soccer fields should be appropriately insured to meet legal requirements and to have a countermeasure against risks.

Remember, members of the public and staff may be hurt on your property in various ways, resulting in lawsuits and significant costs, even if it’s not your fault.

Therefore, a soccer field requires insurance coverages such as BOP, commercial property insurance, and workers' compensation.

How Much Does Insurance Cost for a Sports Facility?

• General liability sports facility or sports complex insurance costs $33 per month or $396 per year for a $1 million coverage for third-party bodily injury, property damage, and advertising injuries.

This table shows some sports facility insurance cost from the top-rated carriers for further reference:

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