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Sports involve competition, fitness, excitement, teamwork, winning, and losing. Indeed, sports is all about games and fun until an individual gets injured.
Players face collisions while tackling, or a stray ball can hit a spectator. To prevent issues that may arise from these occurrences, you need sports team insurance. The right insurance for sports teams is crucial. In this guide, let us help you know what this insurance is, how much it costs, and the best companies.
An injury or property damage claim can cost you a lot. So, it’s crucial to take some time and learn about sports insurance for teams and clubs. Sports team liability insurance is the basic coverage included in sports team insurance, sports club insurance, and others.
Sports liability insurance pertains to different insurance policies that shoulder the cost of lawsuits and compensation to third parties. Examples of liability insurance in sports are:
This sport liability insurance protects against property damage or bodily harm. As a coach, you may be liable if your team member sustains an injury. A shot can break a glass or destroy someone’s automobile during gameplay.
With public liability insurance, you can pay if a third party makes a claim for property damage or bodily injuries.
General liability insurance covers lawsuits arising from property damage, personal injuries, and advertising injuries. It takes care of settlement and legal defense costs to the anguished party too.
Further, general liability insurance safeguards you if you experience a loss at your sports facility that’s rented or leased for sports-related events. For instance, if damage is incurred to the training ground, this insurance policy will compensate the facility owner.
Professional liability insurance is also known as errors and omissions insurance. It covers breaches, omissions, and errors and caters defense costs and the aggrieved party’s settlement.
Professional liability insurance covers lawsuits filed because of economic or financial loss, which violation of good faith or negligence caused.
Accident Medical Care
During youth and adult sports activities, injuries may occur. Accident medical insurance covers out-of-pocket medical bills a coach, player, volunteer, manager, and other team members incur while playing, practicing, or traveling for an event.
Carriers offered a tailored insurance product to sports clubs. Obviously, it is called sport club insurance or sporting club insurance. Let’s take a look at the sports insurance policies included:
General Liability Insurance
General liability insurance for sports clubs has a $1 million policy limit. This insurance for clubs can provide coverage if the sports club hosts events such as fundraisers, exhibition matches, etc., and third parties get injured or have their property damaged.
Commercial property policy in club sports insurance provides protection for the club’s assets through its business property or rented premises coverage. The minimum limit of both coverages is $100,000 with a deductible of $500.
Workers compensation insurance in sporting club insurance covers the staff running the club. Workers compensation insurance has no policy limits. Coverage only extends to occupational hazards. Through workers comp insurance, the club can compensate for the cost of hospitalization and lost wages of injured employees.
Youth Sports Team Insurance
Youth teams in baseball, and soccer can purchase specialized insurance for youth sports teams. Policies included in youth sport insurance are shown in the following sections.
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The table below shows the liability policies included in the best youth sports team insurance. Function and policy limits are also shown. Note that some liability policies in the table were not mentioned earlier:
| Minimum Policy Limit | Function | |
| General Liability | $1 million | Covers claims made by third parties against the youth sports team |
| Directors and Officers Liability | $1 million | Shoulders costs if the youth sports teams’ directors and other officers are accused of committing mismanagement and other related offenses resulting in financial or economic loss |
| Employment Practices Liability | $1 million | Shoulders costs if the youth sports team is accused of wrongful termination, sexual abuse, and discrimination by an employee |
| Molestation and Abuse Insurance | $1 million | Shoulder costs if players file a claim against molestation or abuse committed by team managers, trainers, etc. |
Travel team sports insurance can be a stand-alone insurance or a policy included in insurance for youth sports teams. In other words, this youth sports insurance policy functions as a grouped cover similar to company health insurance plans.
Specific coverages comprise travel insurance teams. Here’s a table showing them, their function, and policy limits:
| Minimum Policy Limit | Function | |
| Accident Medical Care | $100,000 | Covers the cost of injuries incurred while traveling |
| Trip Cancellation | $15,000 | Provides reimbursement to non-refundable costs if the youth sports teams’ trip is canceled |
| Trip Interruption | $10,000 | Provides money so that the youth sports team can pay for lodging, emergency vehicle rental, and other extra expenses if the trip is interrupted |
Commercial auto insurance covers compensation to third parties if the youth sports teams’ vehicle causes an accident, and the cost of repair or replacement to reverse damage caused by collision, vandalism, theft, fire, storm, and lightning.
Insurance for Sports Leagues
Sports organizations and participating teams require league organizers to get insurance that will take care of situations such as stampedes, fire breakouts, player injuries, etc. In connection, the best protection is through tailored sports league insurance. Policies included are:
Professional sports insurance, otherwise called professional sports athletes insurance, is tailored coverage for amateur and professional players. Coverage applies to baseball players, basketball players, lacrosse players, etc. This insurance offers the following policies:
Provides an allowance if the sports athlete’s pay is cut or terminated due to injury or disability.
Provides money equal to lost income if the sports athlete is left by endorsers or sponsors because of involvement with drug abuse, drunk arrest, and public relations scandal.
Covers the payment to agents and managers while the sports athlete isn’t participating in sports and not making money.
Helps to relieve the financial burden on spouse and children if the sports athlete suffers from an absolute disability (e.g coma, amputation, etc.) or death.
Sports insurance is $30 a month or $350 a year for a $1 million general liability insurance. Location, experience, size, and payroll affect cost. Check the table below to see the pricing of the companies with the best sports team, league, and club insurance:
| Monthly Rate | Annual Rate | ||
| CoverWallet | $25 | $300 | |
| US Club | $45 | $540 | |
| USASA | $48 | $576 |
Different factors impact the price of clubs. But usually, a $1 million general liability insurance for youth sports teams is $27 a month or $324 a year.
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CoverWallet offers more excellent insurance for sporting clubs than most of its competitors. The company provides various coverage options:
Average cost: $25 per month
Our rating: 10/10
The US Club provides sports members with liability and accident insurance cover if they take part in US Club sport-operated events.
Average cost: $45 per month
Our rating: 8/10
The US Club provides sports members with liability and accident insurance cover if they take part in US Club sport-operated events.
Average cost: $45 per month
Our rating: 8/10
The USASA Risk Management program offers insurance coverage to member leagues, national organizations, non-member leagues, and players.
Average cost: $48 per month
Our rating: 8/10
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Disclosure: Insuranks.com is an independent educational comparison service and an advertising-supported publisher. Some of the companies/offers that appear on the website are from our partners which we may receive compensation from. This may influence which companies/offers we write about and where and how it appears on the site. However, this does not impact our assessments. We solely highlight companies, products, and offers that can help you make smarter insurance decisions.
