Managing a sports team involves more than getting the best scores. You also have to consider the team’s finances and what risks may threaten that aspect of the game. While some financial risks may seem obvious, others may be little more than an afterthought. That’s why working with an experienced agent to build a custom sports league insurance policy is so beneficial to the protection of the team.
So, what risks are associated with a sports team? Let’s look at a few things that could possibly stand between your players and the next big game.
Property
Your team has invested in training equipment, uniforms, footwear, safety gear and more. Not to mention, any training facility you own is a huge investment in itself. If this property was to be damaged or stolen, the financial repercussions could be devastating. Repair or replacement could easily wipe out the team’s bank account.
Crime
Theft of property isn’t the only form of crime your team could face. Unfortunately, it’s not unheard of to experience internal fraud or embezzlement stemming from the actions of employees or volunteers.
Liability
Guests and fans who are injured at games or sanctioned training sessions may need medical treatment, which could fall to the team to fund. The same goes if a third party experiences property loss.
Injuries
In addition to guest injuries, you also have to consider the possibility of player injuries. This is especially true for contact sports.
Luckily, the right sports league insurance policy can help protect the team from many of these risks. Talk to your local agent to get started today!
We’ll help you find the right coverage. Call Bene-Marc, Inc. at (800) 247-1734 for more information on sports league insurance.