Posted by admin on Sunday, February 5, 2012 ? Leave a Comment?
Sports club insurance is designed to protect facilities and owners of sports and leisure clubs as well as teams and individual players. With a variety of different coverage types, it is important to club owners to understand their insurance portfolio and invest in the most comprehensive coverage possible for full protection. If you are in the process of quoting your sports club insurance, or you would like to gain a deeper understanding of the coverage and exclusions of your existing policy, it is important to consult your insurance agent or broker and set up a meeting. While each insurance provider has different policy limitations and provisions, below is a basic description of club cover options.
The type of policy you will need to carry will depend on the type of sports conducted on your property as well as the types of events you manage. There are several factors considered when rating a insurance policy. With so many different stipulations considered, you will need to answer a detailed questionnaire to be placed in the right program. Customizing insurance programs must be done by an experienced broker or agent in the industry who specializing in insuring health clubs, fitness clubs and most importantly sports clubs.
Specialty areas of the insurance provider will vary. With hundreds of different options available, you must narrow down the specialty area that suits your club best. An example of some specialty areas include: baseball, softball, football, basketball, soccer, lacrosse , wrestling, recreation department, sports accident, shooting club, sportsplex, gymnastics, team, league insurance and more. Each of these specialty areas also has subcategories depending on age and the rules of the game.
Sports clubs should look for insurance programs that cover social members, players, employees, and committee members. While each plan is different depending on exclusions,insurance will cover a number of exposures created around club activities, membership and the property size and value.
A sports club insurance policy includes public liability coverage, employer?s liability coverage, and property coverage. Public liability will cover up to the limit stated on the policy if the club is found legally liable for bodily injuries, illness, and death or property damage caused to a member or non-member. Employer?s liability covers the same types of claims however these claims are caused specifically by the negligence of an employee of the club. Property coverage will include coverage for the premises, contents, sporting equipment, legal expenses, and monies.
Sports insurance policies are very complex. It is important to take the time out to discuss coverage options with an experienced agent or broker in the commercial arena. Protect yourself, your club, and your members with the right type of insurance.
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Source: http://boomerleisureguide.com/?p=1391
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