Sportspersons, sports team and sports authorities can buy a sports insurance policy to shield themselves against possible financial losses arising from a sporting event. Sport insurance offers financial cover against medical expenses, accidental damage and liability claims incurred during a sports activity.

Sports Insurance: Classification

Sports insurance is classified according to the age of or category that the policyholder falls under. On the basis of age factor sports insurance are classified as:

• Insurance for children and students below 19 years

• Insurance for professional sportsperson/team

• Insurance for amateur sports teams

• Insurance for junior school sports team

• Insurance for senior school sports team

 

Based on category, sports insurance can be classified as:

• Adventure sports policy

• Dangerous sports policy

• Extreme sports policy

• Soccer insurance

• Winter sports insurance

• ​

Sports Insurance: Types

The most common forms of sports insurance are:

​

​

 Accident insurance

• Accident insurance: This is an accident-cum-medical insurance that pays for medical expenses on behalf of the injured sportsperson. The availability of the best possible medical treatment reduces the threat of lawsuits against sports authorities by the injured player.

​

General liability insurance

• General liability insurance: This policy pays for bodily injury to any spectator or player due to the negligence of the sports authorities. The policy pays for the legal cost of defending the indemnity action.

​

​

Authority’s liability insurance

• Authority’s liability insurance: This insurance covers liabilities that are not covered under general liability insurance, such as financial losses. Liability claims under the purview of suppression of rights are also covered under this policy. Such claims may arise when a player disputes termination or suspension by the authority. Sports authorities can also buy additional policies, such as general property, commercial insurance or workers’ compensation for broader insurance needs.

​

​

Sports equipment protection plans

• Sports equipment protection plans: Costly sports accessories of individual players or of the entire team are insured under the equipment protection plan. It pays for the loss of or damage to equipment during a sports activity or in the event of a theft or accident.

​

​

Sports travel insurance plan

• Sports travel insurance plan: Individuals or sports teams can buy domestic or international travel insurance to cover possible financial losses during a sports trip. This includes flight delay, baggage loss, ticket cancellation, accidental injuries or medical expenses.

 

Several insurance companies offer sports insurance taking into consideration the specific insurance needs of a particular sports category as well.

 

Hole in One Insurance

Hole in one insurance gives a cash cover to organizers who conduct sports or charity events where a golfer is given an astronomical prize if he sinks the shot into the hole in one go. The practically impossible act of hitting a hole-in-one gives the amateur player not only fame but a prize he’ll remember for a long time! The organizers usually reward players with large cash prizes, holiday trips and even cars. There is usually a lesser distance for the women to shoot from but the prizes are the same. It is advisable for the club owners, sport organizers or any such organization thinking of organizing a non-profit event to take a hole in one insurance policy. The premium for such a policy is quite low and the organizers will not have to worry about arranging the prize money.

 
What are the advantages of a Hole in One Insurance policy?

If you are planning to host a charity golf tournament, a corporate event or golf outing for the customers of your country club, you should consider taking a hole in one insurance policy. The insurance company believes in the unlikelihood of an amateur hitting a hole-in one and keeps the premium very low. As an organizer, you can offer amazing prizes to your clients and potential clients to lure them to the tournament. If, by a stroke of luck, someone hits a hole-in-one, you do not have to worry about the cash prize, since your insurance will be bound to give the cash cover. Besides, your club or organization will get practically free publicity owing the huge prizes that ‘you’ are giving out. By offering huge prize money you can expect top players to take part in the event, which will consequently draw media attention towards the event and its organizers.

 
How does Hole In One Insurance work?

You need to first get hole-in-one insurance from a respectable insurance company and inform them about your plans for conducting an event. The premium decided is comparatively very low in comparison to the kind of coverage that you will be getting. You have to continue paying the premiums for this policy and if during the event a player hits a hole-in-one, you can claim the prize money from the insurance company. The insurance company is obliged to give you cash coverage for the announced prize money and as the organizer you can walk away with all the accolades!

 

Race Insurance

Race insurance offers financial cover against loss or damage incurred during an insured racing event. Participating players, teams, leagues, clubs and events involved in a racing activity are eligible for a race insurance policy.
Race insurance: Events Covered

Race insurance is available for the following events:

    *

      Motorsports – This includes F1, F3, World Motorsports tours and championships
    *

      Motorcycles - Races include MotoGP, Speedway, Supersports, among others
    *

      Sail boat racing
    *

      Cycling race – Including world tours and championship races

Some insurance companies also offer specialized cover for athletic races at the national or international level.
Race insurance: Types of Cover

Insurance companies offer the following types of coverage options with race insurance policies:

    *

      Accidental damage: Covers bodily injury or damage while racing.
    *

      Liability insurance: Covers death, injury or damage to the third-party incurred during the race.
    *

      Event insurance: Pays for an unfortunate event during an insured racing event.
    *

      Fleet insurance: Covers loss or damage to an entire fleet of vehicles participating in the race under a common banner.
    *

      Yacht insurance: A specifically designed insurance policy to cover racing yachts and powerboats.
    *

      Road cover: This is a specific insurance policy to cover race or rally cars and motorbikes.
    *

      Commercial business insurance: For manufacturers and suppliers of racing vehicles, equipments and other racing sport gears.
    *

      Personal assault insurance: Covers damage to the player incurred during an assault event. It also pays for liability claim invoked due to an assault.
    *

      Employers’ liability: Covers liability claim filed by employees and staff members against the employer.
    *

      Professional indemnity: Pays for indemnity claims pertaining to copyright issues and design specifications.
    *

      Contract protection: Insures a racing contract between the association and the player in case of a fatal injury.
    *

      Equipment protection: Covers loss or damage to the racing vehicles and equipments during a race. One can buy additional coverage for probable damage to the vehicle during transit.

One has to understand that the threats concerning motorsports are different from those in a yacht race. Therefore, you will need to buy a race insurance policy customized to the specific insurance needs of the sport. Search for a specialized insurance company with experience in selling race insurance policies for the best deal.

​

​

Winter Sports Insurance

A winter holiday insurance policy that includes winter sports insurance offers comprehensive financial cover against loss or damage incurred during an insured holiday trip. It covers winter sports activities such as skiing and snowboarding as well.

 
Winter Holiday Insurance Benefits

A comprehensive winter holiday insurance policy offers several benefits, such as:

    *

      Personal accident insurance to cover bodily injury during the holiday trip, including injuries sustained while skiing or snowboarding. Buy a policy that offers death benefits, partial dismemberment and permanent disability as well.
    *

      Winter sports activities can cause loss or damage to a third party, exposing you to an indemnity claim. Third-party cover in the winter holiday insurance policy shields the policyholder against probable legal proceedings and financial loss.
    *

      The policy also covers travel risks arising out of flight delays, missed departure, loss of baggage or cancellation of the holiday trip due to hostile weather conditions.
    *

      Emergency medical cover under the policy pays for evacuation, medical treatment, ambulance bills and repatriation costs during an insured winter holiday trip.
    *

      Considering the high cost of winter sports equipments, the policy pays for hiring equipment in case of loss or damage to the ones you own.

 
Essential Tips for Buying Winter Holiday Insurance

Here are some essential tips for buying winter holiday insurance:

    *

      Buy an insurance policy with a considerable amount of policy benefits to cover financial loss in real terms in case of a misfortune.
    *

      Collect for quotes from different insurance companies to get the best possible deal.
    *

      Buy an insurance policy from a company that has a 24-hour service helpline.
    *

      Contact holiday trip organizers to understand the insurance needs pertaining to the trip.
    *

      Consider an insurance policy with a minimum excess amount. An excess is the amount that the policyholder will have to pay before the insurance company begins to pay for the claim.
    *

      Read the small print of the policy document carefully to understand the claim filing procedure. Also, read the exclusions under the policy. These are exceptions to the insured events, for which the policyholder cannot file claims.

 

Winter holiday insurance is essential to make the holidays relaxing and free of financial strain. Buy a winter holiday insurance policy from a registered company only to enjoy maximum benefits.

​

 

Dangerous Sports Insurance

Dangerous sports insurance is crucial for both experts and amateurs undertaking risk-prone activities. It offers financial respite in the event of a possible unfortunate outcome of a dangerous sporting activity.

Most sports insurance companies offer policies for the following dangerous activities:

    *

      Aviation, when taken as a sporting activity
    *

      Hot-air ballooning
    *

      Motor sports
    *

      Rock climbing
    *

      Water sports, like diving
    *

      Parachuting
    *

      Pot caving or holing

​

Dangerous Sports Insurance: Coverage

While buying a dangerous sports insurance policy, you should purchase a minimum of these two covers:

    *

      Personal accident cover: This pays for the medical expenses or hospitalization bill in case the policyholder suffers an accident while performing the insured sporting activity. Some insurance companies also offer financial benefits in the form of loss of income for the period of recovery, following an accident.
    *

      Third party liability: Dangerous sports are equally threatening to a third-party, who can invoke an indemnity claim against the sportsperson. Liability insurance offers financial cover against loss or injury to a third party. It also pays for legal expenses to fight a liability claim.

Apart from these two basic insurance covers, you can always opt for overseas travel insurance, equipment cover and extended accidental or life insurance benefits as well.

Dangerous Sports Insurance: How to Claim Policy Benefits

To file a claim for dangerous sports insurance policy benefits, read the agreement document carefully. Thorough reading of the document acquaints the policyholder with the claim procedure. A claim can be filed only for an event insured under the policy. Most of the insured events come with a list of exceptions. They define exclusions to the policy cover. An insurance company can dismiss a policyholder's claim in three specific conditions:

    * If the event for which a claim has been demanded is not insured as per the policy agreement.
    *

      If the claim appears void or surreal in the course of investigation
    *

      If the personal details provided by the policyholder contradict the statement of insurance or prove to be false.

However, an individual reserves the right to question an insurance company's decision of dismissing the claim in a court of law. It is inadvisable to participate in a dangerous sport without a dangerous sports insurance cover.

​

​

Adventure Insurance

Adventure insurance provides cover for injury or damage sustained while the policyholder enjoys high-spirited activities, such as trekking in Nepal, scuba diving in Australia or ice climbing in Canada. The idea is to provide financial cover so that you can enjoy an unrestrained adventure.

Insurance companies have defined parameters regarding the activities that can be included in an adventure insurance policy. For sports activities with higher levels of risk, one has to opt for a separate extreme sports or dangerous sports insurance policy.

Adventure Insurance: Coverage

An adventure insurance policy comes with both standard and optional covers. The standard policy includes accident benefits to cover loss or damage to the policyholder during an adventurous activity. Liability claim coverage, which offers financial protection against loss or damage to a third party, is also part of the standard plan. Optional cover includes:

    *

      Emergency medical services
    *

      Hospitalization cover
    *

      Baggage loss
    *

      Adventure equipments
    *

      Adventure travel insurance
    *

      Rental car cover

An optional plan allows the flexibility to have greater accident or liability cover as well.

Tips on Buying Adventure Insurance

Here are some useful tips for buying adventure insurance policy coverage:

    *

      Check the previously-owned medical insurance policy document and read the coverage and exclusion clauses carefully. Most medical insurance policies offer some sort of insurance cover for injury during a sports activity as well. However, risk-prone sports are included in the exclusions list. You can always buy a supplementary insurance policy for added adventure insurance cover. Ask the insurance provider for detailed information on this.
    *

      For individuals who are planning an adventure sports trip, ask the trip organizer if they include adventure insurance as well. If not, ask them about the insurance needs during the adventure trip. One can also seek advice on the list of companies that offer affordable adventure insurance policies.
    *

      Search on the Internet for insurance quotes from different companies. Do not compromise on the coverage or claim amount to save a few dollars.
    *

      Adventure sports enthusiasts should opt for a permanent insurance policy rather than single-trip or annual plans. However, make sure that the insurance policy offers coverage for insured adventure activities anywhere in the world.

The premium for adventure insurance depends on the amount of coverage and risk factors associated with the insured activities. For affordable adventure insurance plans, check out the group insurance policies.

​

Sports Liability Insurance

The huge amount of money involved in sports and related activities call for sports liability insurance. Sports liability insurance covers players, associations, leagues, teams and organizers against financial loss due to possible lawsuits arising out of unforeseen circumstances.
Sports Liability Insurance for Associations

Sports liability insurance is available for associations, leagues or sports teams. This policy offers liability coverage for actions and events held under the banner of the association. It covers the team, coaches, leagues, association members and staff. The policy coverage includes lawsuits arising out of:

    *

      Injury or death of a participating player, staff member or volunteer
    *

      Property damage liability
    *

      Medical malpractice leading to criminal offence
    *

      Ownership or maintenance of the ground or practice area
    *

      General claims related to administrative procedures of the association
    *

      Legal cost of investigations to defend in court.

This insurance policy specifically includes directors' and officers’ liability against malpractice or criminal offence.
 

Sports Liability Insurance for Instructors

Sports liability insurance is essential for a sports instructor to cover financial risk related to the dangers associated with sports training. A sports instructor puts players through stressful physical and mental routines to sharpen their skills. However, there is a high probability of a player succumbing to the extensive drills, which can lead to a lawsuit. Sports liability insurance covers an instructor against liability claims arising out of:

    *

      Bodily injury to any player during training sessions
    *

      Maintenance of the practice area
    *

      Damage to a third party during sports trainings

​

​

Sports Liability Insurance for Organizers

Sports liability insurance for organizers is a comprehensive policy with wide scope of coverage. It is also called sports event liability insurance. The scope of coverage under this policy includes claim due to:

    *

      Bodily injury or death  of a participating player
    *

      Bodily injury or death of volunteers, association members and viewers during the event
    *

      Damage to player, event members or viewers due to administrative negligence
    *

      Administrative decisions both on and off the field
    *

      Damage to the grounds, flood lights, stands and other stadium areas

Several insurance companies offer sports liability insurance, with varying coverage options. Insurance seekers may consult insurance specialists to understand their specific insurance needs and accordingly purchase the best possible policy.

​

Sports Injury Insurance

Sports injury insurance is a must buy for every sportsperson. While unpredictability and danger might bring in the thrill for a sport, these factors can also add to the risk of injury. Buying sports injury insurance ensures that you can enjoy the game without having to worry about the financial burden you might have to bear if there is an injury.

​

The most common injuries that occur during any sporting activity are:

    *

      Fracture of the hip or pelvis
    *

      Damage to the leg bone, including ankle and knee
    *

      Fracture of the collar-bone or arm
    *

      Skull fracture, include jaws, nose or cheekbone
    *

      Shoulder blade damage

Therefore, the sports injury insurance you choose should be inclusive of all these injuries for comprehensive coverage.
 

Sports Injury Insurance: Benefits

Buying sports injury insurance policy offers the following benefits:

    *

      Accidental injury benefits: Sports injury insurance covers medical expenses due to bodily injury faced during an insured sporting activity. It includes emergency medical treatment, ambulance, nursing, diagnosis and hospitalization bills.
    *

      Physiotherapy benefits: After a serious injury, a sports person has to undergo physiotherapy training sessions to regain fitness. These sessions can run anywhere between a few days to several months. With sports injury insurance, an insured player can save on the huge bills for these physiotherapy sessions.
    *

      Dental cover: Dental injury faced during an insured sporting activity is also covered under the insurance policy.
    *

      Income replacement: Some sports injury insurance policies also offer income replacement benefits to the policyholder. Here, the insurance company pays for the loss of income to the injured player for the period of treatment.

Sports Injury Insurance: Principal Exclusions

Principal exclusions to the sports injury insurance policy are:

    *

      Any injury that occurred before the policy cover became operational.
    *

      Health issues related to osteoporosis
    *

      Self-inflicted injuries
    *

      Injuries caused by irresponsible behavior or negligence of the sportsperson
    *

      Injuries that occur while the player is involved in any criminal activity, such as playing under the influence of prohibited drugs or alcohol
    *

      Injuries that occur in a situation where a player is declared unfit for the sporting activity
    *

      Dental injuries that occur when the player is not wearing a dentally-approved mouth guard

While choosing a sports injury insurance policy, remember to gather quotes from various service providers. Use the Internet to search for companies with sufficient experience of selling sports injury insurance plans. Not all companies offer sports injury insurance for all the sporting activities. Hence, ensure that your insurance policy covers the sporting activity you are engaged in. Finally, read the policy disclosure agreement carefully to understand the policy coverage and exclusions.

​

​

Snowboarding Insurance

Given the risk factors involved and rising cost of medical treatment, snowboarding insurance has become a basic necessity for all winter sports enthusiasts. Snowboard insurance pays for bodily injury or damage to the policyholder that might be incurred while snowboarding.
 

Need for Snowboarding Insurance

The ever-present danger might add to the thrill of snowboarding but it can also at times lead to serious injuries. During the peak season, the snow-covered peaks are packed with tourists vying for space. The heightened possibility of collision makes snowboarding an activity that is prone to severe injuries.

 

According to the statistics of the Foreign and Commonwealth Office of the UK government, knee ligament damage is the most common injury faced by snowboarders. The next most common injuries include tibia fractures, wrist fractures, back injuries and dislocated shoulders. The risk associated with the sport cannot be denied. However, with snowboarding insurance one can eliminate the financial burden that could be brought on by injuries or accidents.
Snowboarding Insurance: Coverage

Snowboarding insurance offers the following coverage:

    *

      Personal accidental benefit: Covers bodily injury or damage to the policyholder while snowboarding.
    *

      Travel insurance: Pays for financial loss due to travel-related issues, such as baggage loss or flight delay.
    *

      Emergency medical treatment: Compensates for medical expenses in case of an emergency.
    *

      Personal liability cover: Indemnifies for loss or damage to a third-party, including legal fees to defend oneself in court.
    *

      Snowboard insurance: Covers damage to the snowboard plus other sporting gear.

​

Snowboarding Insurance: Holiday Trips

Service providers offer snowboarding insurance for holiday trips in different packages, such as:

    *

      Single trip: For individuals who intend to go for a snowboarding holiday.
    *

      Annual trip: For sports freaks who regularly engage in snowboarding.
    *

      Seasonal: For people who undertake snowboarding trips that span the entire peak season.
    *

      Groups: For field trips, schools camps or large groups of sports enthusiasts.

 

Insurance seekers can choose from a wide variety of snowboarding insurance cover within these categories.

 

Research the market thoroughly to get the best snowboard insurance deal. Some companies offer free snowboarding insurance to individuals who have skiing insurance. Also, many companies offer snowboarding insurance free of cost or at discounted rates for children below 18, when escorted by adults.

​

​

​

​

Skiing Insurance

Ski insurance is crucial for ski enthusiasts to obviate the financial risks associated with this adventurous sporting activity. Insurance companies offer single or multi-trip skiing insurance policies, with a policy cover period spanning from a few days to several years. For holiday trips, insurance companies allow family or group ski insurance that provides combined benefits.

 

Ski Insurance: Policy Cover

The standard ski insurance policy covers:

    *

      Accidental benefits: Ski insurance offers personal injury benefits to the policyholder caused by an accident. It includes accidental death, partial impairment or permanent disablement. Injury caused by negligent behavior or irresponsible attitude are not covered under the policy.
    *

      Travel cover: Ski travel cover pays for financial loss incurred due to delayed departure, trip cancellation or curtailment and baggage loss.
    *

      Emergency medical treatment: The adventure and risk factors associated with skiing call for emergency cover. Medical expenses for emergency treatment due to unforeseen bodily injury or severe illness are covered under this ski insurance policy. Emergency medical treatment also includes ambulance costs, rescue services and nursing. An individual should purchase ski insurance with considerable emergency cover.
    *

      Hospital benefits: Medical expenses such as diagnosis, physiotherapy, medications, nursing and room bills are covered under hospital benefits. Insurance companies reimburse the hospital bills once a claim is filed.
    *

      Personal liability: Skiing may cause bodily injury or damage to a third-party, which is included in the personal liability cover. It also pays for indemnity claims or liabilities incurred during a skiing activity.
    *

      Ski equipments: Skiing equipment, such as skis (including bindings), ski boots, snowboard boots, ski poles and snowboards, are covered under the policy for loss or damage.

​

Ski insurance: Principle Exclusions

The principal exclusions to the ski insurance policy are:

    *

      People aged above 65 are not insured under ski insurance
    *

      Damage due to war risk, terrorism, radioactive contamination are not covered
    *

      Unlawful actions inflicting damage or injury to at third-party are not covered
    *

      Wear and tear charges are excluded from the policy cover
    *

      Skiing in areas that are proclaimed as danger zones is not considered under an insured event

For claim reimbursement, an individual is required to pay an excess amount as mentioned in the skiing insurance policy. Consider the excluded activities carefully before buying skiing insurance.

​

​

Football Insurance

Owing to the crazy fan following and stardom status of football players, the football insurance industry has grown in leaps and bounds. Insurance companies offer football insurance at two levels, for individual sportsmen as well as a football team or club. International football leagues prefer to insure an entire series to avert financial crises of any sort.

Since soccer insurance is not a standard insurance product, the range of covers available varies among different companies. However, the most common types of football insurance plans are accidental death or injury benefits, liability cover and travel insurance.
 

Football Insurance: Personal Accident

Individual sportsmen and football teams can purchase personal accident soccer insurance. This covers critical injury, temporary/total disablement, emergency dental or medical assistance and accidental death while playing on the field. High-premium accident insurance also covers contract-based wages, in case the player is unable to play for longer periods due to an injury during an insured event.
 

Football Insurance: Travel insurance

This football insurance policy covers financial risks associated with traveling during international football tours. It includes accidental death benefits, accidental injury cover, baggage loss, damage or loss to sports equipment, tour cancellation cover and travel delay.
 

Football Insurance: Club Liabilities

Sports clubs are highly prone to liability claims. Therefore, insurance companies offer liability protection for governing bodies, sports authorities and member clubs. This football insurance policy covers three different liability claims:

    *

      Public liability: This policy includes claims filed for accidental injury or damages to a third person or property, damage to rented premises, libel and slander.
    *

      Employers' liability: Claims filed by an employee or member of the football association are covered under employers' liability. The cover also includes legal expenses to defend the case in court.
    *

      Directors' and officers' liability: This policy offers financial protection against wrongful actions committed or alleged by the senior authorities of the football club or association. The policy covers decisions taken by authorities on behalf of the football governing body, including players' termination or selection.

​

Some insurance companies also offer sports ground/stadium/club house protection cover as a part of the football insurance. The coverage includes building, contents, flood lights, ground equipments and stands. Sports associations also insure football matches against possible loss of revenue.

​

​

​