Sports insurance is a broad term that covers a range of items from competitors participating in a sporting event, organizers of a sporting event and instructors who receive income for teaching sport. Sports insurance provides much needed peace of mind in an environment where accidents are commonplace and the costs incurred after the accidents can be high.
Who is a potential candidate for sports insurance?
Sports insurance is an option for anyone who plays a part in the sports, health and fitness industry. Sports teams will need sports insurance, as will the governing bodies of the leagues these teams play in. Owners of sports grounds and facilities, such as gyms and martial arts studios, will most likely need liability cover.
Participants in these sports may take out sports insurance as the occurrences of injury in sport are high. The cost of recuperation from a sports injury can be exorbitant and ongoing costs such as physio and massage can greatly impact your finances.
Individual instructors and trainers of sports should see sports insurance as a mandatory cost of their business. Instructors seek to train as many people as they can to ensure success. It only takes one person getting injury in an accident for all that success to disappear.
What does a sports insurance policy cover?
The typical sports insurance policy will cover medical, legal and liability costs to any injuries sustained in the specific sport you have listed in your policy. Sports insurance is not a holistic insurance area where all sports are covered automatically. You need to list the specific sport to be fully covered in the event of an accident. For instance, if you are insured for baseball and are injured in basketball, you will not be covered.