When managing a sport, you have to guarantee the safety and well-being of the team. If an incident causes harm to a player or even a spectator, the team could be responsible for the damages. They might even have to compensate the harmed party for the damages.
Liability insurance can help you face damage claims that may impact your team. Coverage can reduce your chances of financial losses, even if damages were unavoidable.
Your agent can help you determine how to assemble a liability package to better meet the needs of your team. Coverage options may include:
General Liability Insurance
These policies are best explained by their names. They cover the general risks associated with your team. These may include property damages or losses to team members’ personal belongings. Importantly, these policies often cover injuries or harm that your players and even spectators might sustain.
Make sure your policy addresses risks to team members, spectators and their property.
Accident Insurance
No general liability insurance policy is airtight. It may have exclusions, or coverage levels may not be high enough to cover the most severe cases of injury.
Accident coverage can often extend to many medical risks resulting from sporting accidents. These policies can often increase the standard level of coverage. That way, they can better accommodate the medical insurance needs of an injured party.
Travel and Commercial Auto Insurance
If a team travels, it faces risks on the road. Travel insurance can help accommodate some emergency medical situations participants might experience. Furthermore, it can also help cover the costs of lost or damaged property.
Also, you might need to carry commercial auto insurance when transporting the team. These policies come with high coverage levels, usually including bodily injury liability coverage. They can better protect the team’s assets when on the road.
Professional Liability Insurance
Management exists to help the team avoid potentially risky situations. That’s why the team could experience harm if the managers make a poor professional decision. Professional liability insurance can help a team recover in case bad advice or services lead to damages.
Always remember that the best way to avoid team damages is to encourage a responsible environment. Carefully keep records of your team’s special needs, and their personal property. Doing so can help you demonstrate your commitment to safety, so an insurance company has no reason to assume negligence if an unfortunate accident happens.
We have coverage for you. Bene-Marc, Inc. can help you get a sports insurance policy to meet your unique needs. Talk to one of our agents about a fast, free quote right now. Call us at (800) 247-1734 for more information.