Running a sports clinic or camp can be a rewarding and exciting business venture, but there are many risks and exposures. While athletic participation can provide participants with significant physical health benefits and valuable life lessons, such as the importance of collaboration and dedication, athletes, coaches and other parties involved in your clinic may be at risk of various accidents and injuries. With that in mind, it’s necessary to understand the importance of sports clinic insurance.
What Is Sports Clinic Insurance?
Your organization should initially understand that sports clinic insurance may not refer to a single policy or form of coverage. Although some insurers may sell sports-related packages prearranged and specialized for your operations, you may often need to assemble your own sports clinic insurance portfolio by combining several policies. Regardless of how you acquire coverage, an adequate sports clinic insurance package is a critical investment to protect your athletes, employees and business financially.
Although your organization may have unique circumstances, risks and coverage needs, the following policies are generally advisable for most sports clinics:
- Accidental medical expense insurance—This coverage can help pay for medical bills arising from injuries and incidents at your clinic.
- Accidental death and dismemberment insurance—If an incident at your sports clinic results in death or disability, this coverage can render financial assistance.
- General liability insurance—This coverage can provide financial assistance if a third party, such as a spectator or guest, accrues losses from an incident for which your organization was responsible.
- Commercial property insurance—This coverage can insulate your organization from losses involving your clinic’s property, such as buildings, electronics, equipment and inventory.
- Business interruption insurance—If a covered event forces your clinic to halt or alter its normal operations, your insurance can help pay for losses and expenses, such as lost income, rent and employees’ wages.
- Workers’ compensation insurance—This coverage can render financial aid if an employee of your clinic is injured on the job or develops a work-related illness.
- Commercial umbrella insurance—If your sports clinic is responsible for another party’s losses and exhausts its liability limits, secondary coverage can provide additional financial assistance.
In addition to these core coverages, your organization should work with a qualified insurance professional to identify further needs. For example, if your business owns motor vehicles or manages sensitive data (e.g., financial information, health records), it should prioritize commercial auto and cyber liability insurance policies, respectively.
Why Is Sports Clinic Insurance Important?
Regardless of the sports they feature, the age of their participants or the experience levels of staff, accidents, injuries and errors at sports clinics may be inevitable. Athletic competitions, practices and even traveling between events include various risks and exposures. Without an adequate insurance portfolio, your sports clinic may be held financially liable for significant losses that could lead to devastating out-of-pocket costs. Even a single incident could have irreparable ramifications for your organization’s finances and future.
Get the Right Coverage
We’re here to help. At Bene-Marc, we have nearly 50 years of experience helping sports clinics and other athletic organizations assess and address their insurance needs. Our dedicated staff has extensive knowledge and experience with sports-related coverage solutions. We look forward to working with your clinic to assemble an optimal insurance portfolio. Visit our website or call 800-247-1734 to get started today.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.