Sports Team Insurance in Vermont
What is Sports Team Insurance?
Team sport occupies a large place within American culture, and children begin participating from a young age. Many children in Vermont join soccer, basketball, football, baseball and other teams during their school years. While youth sports teams are seemingly ubiquitous, playing sports isn’t risk-free and neither is operating a team. Sports team insurance can help protect organizations involved in youth sports if from covered claims, often including participant injuries.
Sports team insurance is a specialized commercial insurance that’s crafted to meet the risk mitigation needs of team sports organizations. So that policies can provide organizations with robust protections, most policies are drafted as package policies that have more than one coverage within them.
What Vermont Organizations is Youth Sports Insurance Right For?
Most Vermont organizations that are involved in team sports can benefit from having youth sports insurance in place. Some specific examples of organizations that likely should consider this type of insurance are:
- Youth sports teams
- Travel sports teams
- Local youth sports leagues
- Regional youth sports associations
In some cases, other sports teams may also find that the coverages found in a youth sports insurance policy suit them well. College, semi-professional and professional sports teams, for instance, sometimes have similar coverage needs. An insurance agent who’s familiar with these policies can help such teams decide whether this type of insurance truly does meet their needs.
What Protections Are Available Through Youth Sports Insurance?
Many of the coverages found within youth sports insurance policies can be classified as either property or liability protections. Property protections tend to insure physical assets against damage or loss, while liability protections normally insure against potential lawsuits or claims that may be filed against an organization.
A couple of property coverages that are commonly found in youth sports policies include:
- Commercial Property and Equipment Coverage, which might protect buildings and equipment that an organization owns
- Crime Coverage, which might protect against embezzlement by volunteers or employees
Some liability coverages that policies frequently make available are:
- General Liability Coverage, which might protect against basic accidents that result in third-party property damage or injury
- Accident Coverage, which might protect against injuries that a player or employee sustains
- Directors and Officers Liability Coverage, which might protect against lawsuits that are filed against an organization’s leadership
Organizations that use vehicles usually also need business auto coverage, which may be purchased for organization-owned vehicles or non-owned vehicles that an organization uses.
Do Sports Team Policies Include Workers Compensation Coverage?
Many team sports organizations have employees and are required to purchase workers compensation coverage. The coverage normally extends protection to workplace injuries, and state law frequently requires employers to carry it. In some cases, the coverage might even provide protection for volunteers who sustain injuries.
Whether workers compensation is purchased within a sports team policy varies from policy to policy, however. While some policies may offer the coverage, others may not. When it’s not included within a policy’s coverage options, workers compensation can be easily procured via a stand-alone policy that provides only this protection.
How Much Do Sports Team Policies Cost?
Premiums for sports team policies are based on many factors and vary because of this. The most accurate way to determine how much insuring a specific team or organization would cost is to request quotes from different insurance companies. An independent insurance agent can assist with this process, since they’re able to request quotes from more than one insurer.
Even with variance among policy premiums, the cost of these policies tends to be reasonable. Premiums almost certainly are less than what a major claim, such as a player injury, might be if no protection is in place.
How Can Vermont Organizations Get Sports Team Insurance?
If you need help ensuring a sports team, league or organization that operates in Vermont, contact the independent insurance agents at T.S. Peck Insurance. Our agents can help you compare quotes from many insurers in the state, and we have the expertise necessary to guide you toward the best sports team insurance solution for your particular organization.