The minimum needed for maximum benefit
Because many sports organizations are run by volunteers, they are often under-insured. Insufficient insurance coverage may be a by-product of money-saving efforts or simply a matter of not understanding the risks of exposure to the athletes, coaches, staff and volunteers, and board members
Below is a list of the most important insurance policies that may be needed by community-based sports organizations such as teams, leagues, and municipal recreation departments.
- Accident: Pays medical bills on behalf of injured participants such as players and staff.
- General Liability: responds to lawsuits arising from bodily injury, property damage, personal/advertising injury.
- Directors & Officers Liability (AKA Trustees Errors & Omissions for municipal recreation departments): Responds to certain lawsuits not covered by General Liability such as discrimination, wrongful suspension or termination, failure to follow your own rules or bylaws, and violation of rights of others under state, federal, or constitutional law.
- Property/Equipment: Covers your buildings, equipment, and contents against loss due to fire, vandalism, theft, etc.
- Crime: Covers employee or volunteer embezzlement of funds or theft of property; forgery or alteration of checks by outsiders, and theft of money and securities by outsiders.
- Workers’ Compensation: May be required by state law if three or more employees and pays benefits to injured workers for “on the job” injuries including medical bills, lost wages, disability lump sums, disfigurement lump sums, and death benefits.
- Business Auto: Covers liability and physical damage to owned, non owned, and hired autos.
- Consult with your insurance agent about other types of policies such as Liquor Liability, Cyber Liability, Media, etc.
We provide more detailed information on each of these policy types and insider tips on purchasing insurance in our article, 7 Critical Mistakes to Avoid When Buying Sports Insurance. If you have questions or want assistance in deciding which policies your organization needs, call us at (800) 622-7370.
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