Cheerleading is a hyper-competitive sport. It has evolved from something that existed on the sidelines of school or professional sports games into an experience encompassing all aspects of dance, acrobatics, gymnastics and strength. Cheerleaders now both accompany other teams to their matches to provide pep and team spirit and have the ability to compete in their own rights as professional, semi-professional and intramural squads.
Sometimes, you might be in charge of a cheerleading team, or you might even own a cheerleading gym where different groups come to practice and compete. In either case, you have not only substantial responsibilities for team security but also quite a few liabilities to keep under control. To do so, you will need an appropriate amount of insurance backing you up. One type of coverage that you should consider essential is property insurance. You will generally need several types of property coverage, which can vary depending on the scope of your operations.
Consider the benefit of property insurance for your cheerleading operations, and then come to Bene-Marc Inc. for assistance getting the policy that is best for you.
Why Cheerleading Teams Need Property Insurance
Cheerleading groups, whether they are attached to a school or a sports team, or are simply an independent squad, have their own property and assets for which they are responsible. This responsibility means you are the only party with authority to protect those items against damage, destruction, theft or other losses.
Any loss or damage to items from owned buildings to equipment will be a setback to the team. Your property insurance will be there to assist you if these challenges arise, and you won’t have to pay out valuable team funds trying to replace the lost items. Even in circumstances where your group’s property is a total loss, you shouldn’t have to worry about how you will replace it and recoup the missing property value. Your property insurance will be there to help you out.
The Property Benefits That Your Cheer Team Needs
There are many different types of property insurance available to sports teams; the coverage that your cheer team needs will be unique from that of a competitor team. Just a few of the coverages you might need to include in your policy portfolio are:
Owned buildings insurance
This coverage will insure physical buildings owned by the cheerleading organization. For example, if you run a cheerleading gym, this coverage will pay for damage that the property sustains following challenges like fires, vandalism and severe weather damage. However, flood insurance is not included as part of a standard property insurance policy in most cases, so you might need to purchase a separate commercial flood insurance policy for the property.
Another point to consider is that owned buildings insurance is separate from rented premises liability insurance. This coverage will pay if you cause damage to a rented property that you are using as part of your cheerleading activities. So, if you rent a space for a competition and cause damage while using the property, this coverage will pay for your repairs.
Business personal property/Equipment insurance
Not only do team buildings need insurance, but so does the equipment inside them. Cheerleading teams might have a lot of different equipment—e.g., mats, climbing walls, inflatable items—which could get damaged in various circumstances. They may also get vandalized or stolen. In any case, the losses could be significant, and your team could struggle to afford the costs of replacement items. Property and equipment insurance will help you do so.
Business income insurance
At times, property damage might cause you to halt organizational operations temporarily. As a result, your income stream might stop. This benefit can help cover both the value of the lost income and the cost of continuing expenses that might beckon despite the shutdown.
Electrical/Equipment breakdown insurance
Some of your equipment might periodically fail through no fault of your own, creating a health and safety hazard, not to mention a delay in operations. With equipment breakdown coverage, you can have help repairing systems like your computers, HVAC systems, boilers, electrical systems, cooking and phone systems. Keep in mind this coverage will not pay for equipment damage caused by neglect, and you cannot use it to fund the costs of your regular system maintenance.
Sometimes, the threat to your property will arise from internal sources. An employee might steal or damage property, and because this was an internal matter, your crime insurance will be the benefit to help you through your recovery.
This benefit allows you to insure items you transport away from your primary premises. Often, you can use it as a scheduled items rider so that you will only insure specific equipment and materials with the inland marine benefit.
We’re Here to Help
Here at the Bene-Marc agency, we will work closely with you to establish the correct property insurance benefits for your cheer squad. With our expert guidance, you can rely on us to provide you with the perfect level of benefits for all potential loss scenarios.