Sports Insurance Explained

Britain is one of the World’s leading sporting nations with millions taking part in all sorts of events up and down the length and breadth of the country every day of the year. Surprisingly though many of us take part in sports without knowing the potential risks and possibly life changing consequences that can occur on the local park, playing field or fun run marathon, as easily as they could at Twickenham or Wembley, for example.

All sports involve risks of varying degrees both to those involved in organisation, participation or merely spectating. So in this year of the London Olympics, Insurance Blog takes a look at the different types of risks that players, clubs and coaches may face both on and off the field and the various covers and policies that are available to protect both individuals and businesses involved in sport.

Sports injury and accident insurance is perhaps the most widely sort after personal protection cover by sportsmen and women who wish to indulge in the favourite pastimes without fear that an injury will financially hurt themselves or others. Sports accident and liability insurance policies can be bought by individuals, coaches and sports clubs and is available to adults and children both amateur and professional.

Individual cover
Sports Accident Insurance policies offer a range of protection for loss of earnings or income, personal liability to others you may injure in the course of the sporting activity, physiotherapy for recovery, legal expenses against being sued and various levels of personal accident and injury rehabilitation cover, the cost often dependent upon the type of sport in which the policyholder is engaged. Cover can be purchased for a single day, multiple day event or on an annual basis.
Typically sports liability insurance will cover you against claims of up to £2 million although higher limits of public liability indemnity are available.
Personal Accident cover is available to both adults and children involved in sports and the levels of cover and benefits paid are usually comensurate with the premium charged. If you are injured playing sports you will receive payouts for your injury as defined in the policy.
The cost of sports injury insurance is dependent on a number of factors such as what you do for a living and how much income protection you need, if any. Many policies are flexible and allow you to add additional covers or raise limits, usually for a price.

Sports Team Insurance
This offers exactly the same types of liability, accident and income protection cover as for individuals, however on a team basis with the number of players or squad covered defined by the team sport. Additional covers can include travel insurance for away fixtures, property insurance, and ground cover for clubs. The sports team insurance cover is available for both children and amateur or semi-pro adults teams and premiums vary depending upon the type of sports activity engaged in and the occupations of the players.

Sports Coaches, Instructors and Personal Trainers
If you are involved in sports coaching or training as a business then it is essential that you cover yourself against claims or loss of earnings and if you employ staff to assist, then employers liability insurance is a legal requirement.
Coaches and trainers can purchase annual packages and schemes that are particularly designed with their activities in mind. As with individual sports accident policies, Coaches insurance includes income protection covers, personal accident covers and public liability as standard, which can be extended to cover employees and products where necessary.
A feature of Sports Coach, Fitness Instructors and Sports Trainers package cover that is unique to this insurance is that of advice inclusion which is effectively professional indemnity insurance.
As a coach you are in a position of trust giving advice to those around you who expect the advice and knowledge you pass on to them to be correct and safe. If the advice you give proves to be negligent you could find yourself facing expensive legal action if one of your ‘students’ decides to claim. This advice inclusion protects you against such eventualities.

Sports Business Insurance
If you are in a sports based business you will need a specialist sports business insurance policy. These annual commercial packages offer employers liability usually up to £10 million to protect you against negligence claims from your employees, public liability with varying amounts up to £5 million to proctect your business against claims from the public and product liability if you supply sporting goods or apparatus.
Sports business insurance packages also offer buildings and contents insurance for offices, clubs and sports grounds as optional covers. This type of business insurance is open to sole traders, partnerships, sports clubs and charities and limited companies engaged in sports activities.

Sporting Event Insurance
If you are organising a one off sporting event such as a marathon or kids football match or a five day event of sport such as a surfing or skateboard festival, you will need sporting event insurance. The policies offer basic public liability insurance determined by the number of spectators, which could be fifty or fifty thousand for example. In addition employers liability cover is a must for staff and is usually available as an additional option. Most policies also offer cancellation and pluvial insurance covers, although these can significantly add to the cost of organising the event. Cover is available for single events and is often charged by the day.

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