Sports Club Insurance
Sports club insurance is a type of business insurance for sports clubs that provides cover against a range of risks, including, for example, theft and public liability. This article will provide detailed information about the coverage you need and where to buy it at an affordable price. Sports club insurance is designed to protect a sports club against claims for public liability and theft (including property damage) caused by visitors.
If you would like to read more information or learn more about the pricing of business insurance, you can do so here.
When Would You Need Sports Club Insurance
- You have courts, courtside facilities or other activity areas that need protection from damage or injury.
- You rent or own equipment worth more than £5,000 and want to make sure you’ll be compensated if it is stolen and damage is caused.
- You want to protect your club from public liability claims.
- You run a fitness centre and want to ensure your members or customers are indemnified against any personal injury resulting from negligence or otherwise.
In addition to general insurance cover, it is also possible to add public liability cover and public liability cover for theft by relevant clauses of the policy document if your sports club requires such cover.
Several factors must be considered when choosing a sports club insurance policy.
Some of these include:
- Your existing cover and the amount of excess you could be liable for.
- Your budget. Sports club Insurance is often a luxury product with higher premiums but lower levels of cover than standard business insurance. Sometimes, however, sports club Insurance can be too expensive for your budget, primarily if it is only intended to offer limited or partial protection from claims and you have many staff or visitors.
- Your risk profile. Sports club Insurance is generally offered by specialist insurance companies or directly from the sports club owner. This means that they will usually identify your risk of claims and advise you accordingly on what cover is sufficient.
- Your location, size and scope of operations. Suppose your business is relatively small and has limited assets or activities (i.e. a local sports club). In that case, the amount of cover needed may be a lot less than if you are a well-known international sports club.
In deciding which sports club Insurance policy is right for you, some things to remember include:
- They are working out the deductible (the amount deducted from any claim made). Deductibles tend to range between £500 and £10,000.
- Your cover limits should be increased if you have a high-risk profile as defined by your current insurance policy or by the insurer advising you.
- Other types of business insurance policies should be reviewed to ensure that liability arising from the sports club is covered.
You should always check whether any existing or prospective members hold a similar insurance policy that extends to members and staff of your club. This will prevent the duplicate cover from being taken out and means you can negotiate a single policy with one insurer. Be wary of cover limits, even if they are seemingly low.
Sports clubs are particularly vulnerable to theft claims due to the value of the equipment they contain, e.g. football boots, basketballs and money. Check your terms and conditions to see what cover you already have in place. For example, if a member brings their sporting equipment to the club, are you liable for any damage or loss?
What Types of Sports Club Insurance Are There?
- Public liability insurance: provides indemnity against claims that result from injury caused by the activities of your staff or members during their business. It provides cover against claims caused by negligence, strict liability or liability to other public members.
- Public liability insurance for theft: provides indemnity against property theft (including equipment, maintenance and sports kit) on your premises. It provides cover against claims from theft from people other than your organisation’s employees/guests/members.
- Personal injury provides indemnity for personal injury resulting from negligent acts of your employees or volunteers. It also covers injury occurring during the use of facilities for which you are responsible, e.g. sports field, gymnasium.
How Do I Obtain Sports Club Insurance?
Sports club insurance companies generally offer these types of insurance at a fixed price, and you can buy them online. If the company goes bankrupt, you can get a refund after a certain period, or if you have not received your policy documents, the sports club insurance companies are obligated to provide their services to you. The insurance covers all sports activities, including football clubs and rugby clubs.
The risk and exposures of a typical sports club may not be that great. However, there may be instances where your business is exposed to high risk. It is thus essential you consult a broker or insurance specialist who will offer you advice on how to reduce the risks or exposures. For example, you may want to ensure that any equipment used is safe for use. You can also consider appointing a supervisor or instructor to ensure that your patrons are well trained and supervised at all times.
Find out more about the importance of insurance here.
Other useful links about Business Insurance:
Professionals Insurance
Project Manager Insurance
Property Manager Insurance
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