Youth sports insurance can help protect you from stress and financial loss caused by a player’s injury, an employee’s misappropriation of funds, or lawsuits of any kind. As a leader in youth sports, it is important that you have a youth sports insurance policy that covers every possibility, even if you don’t think it is likely to happen. Keep reading for a youth sports insurance guide, including options and tips on how to find the right plan for your situation.
Why should you have sports insurance?
Insurance is a necessity for most businesses and organizations, but it is essential for sports organizations as well. Injuries and accidents are a natural part of sports, and there are always risks and liabilities associated with them. A single accident can ruin a sports organization’s ability to provide for itself and its players. Many sports organizations are required to provide insurance documentation in order to obtain permits to operate playing fields, gymnasiums or event spaces.
Types of youth sports insurance
Player accident insurance
Accident policies cover the portion of a player’s or coach’s medical expenses that aren’t covered by their health insurance. That’s a lot of coverage: In the U.S., 6% of kids have no health insurance and 13% have no health insurance at all. For players and coaches, accident insurance provides the primary coverage and pays for all of their medical expenses (within the limits and limitations of the policy).
General liability insurance
Your organization may be liable for personal injury or property damage caused by your actions and these policies provide coverage for those losses and associated legal costs. General liability covers injuries sustained by spectators on the field or damage to windshields caused by foul balls. It also covers claims of slander made by an opponent’s coach. And coverage extends beyond the organization to include directors and officers.
Directors and Officers Liability Insurance
Issues relating to directors and officers contract violations, wrongful terminations, race and disability discrimination, failing to comply with your own rules and regulations and other similar allegations such as sexual abuse and molestation come under this category.
Equipment, property and auto insurance
Equipment insurance covers not only uniforms, ball carriers, sticks, pads and the like, but also the sheds in which they are stored, scoreboards, lawn mowers, soft drinks machines and any other equipment owned or leased by your organization. Larger storage sheds, offices and other significant structures require property insurance. Of course, all vans, buses and other vehicles owned or rented by your group must be covered by vehicle insurance according to state regulations. However, if team members travel in other people’s vehicles, additional coverage may be required.
Sports fee insurance
Most likely, you and your organization require players to sign up for a full season at the time of signing up. This type of insurance pays out the portion of the full season fee that has not yet been collected if a player becomes unable to play due to injury, illness or injury-related illness. Some policies cover fees in the event of a player’s withdrawal due to parent job loss or transfer.
Of course, it will take some time and effort to narrow down all the options to the program that best suits your organization. However, the investment you make can prevent much more complex and costly problems if you don’t have the right coverage. For more information on youth sports insurance and other ways to protect your organization and players, click here.