Sports tournaments are exciting events where young athletes can compete and hone their skills while having fun. These tournaments are wonderful outlets for players. But emotions can run high, and accidents can happen.
The intensity of tournament competition can lead to a higher chance of injuries, property damage, and legal claims, all of which threaten the success of the tournament and organization.
Unfortunately, no one is safe from these types of incidents, from the enthusiastic players to the supportive parents to the dedicated coaches. That is why sports tournament coverage is vital, especially the required coverage.
Keep reading to learn everything about sports tournament insurance and the required coverage that can give you peace of mind.
General Liability
General liability is the most important type of coverage for sports tournaments. This type of coverage covers many people, including all participants.
Common third-party claims that can come from accidents at sports tournaments include injuries, property damage, and legal defenses. General liability coverage for sports tournaments will protect you and participants from these troubling problems that can be highly expensive and complex.
In addition to coverage for injuries, property damage, and legal defenses, applicants for general liability can also request coverage for sexual abuse and molestation claims. While no one wants to expect something so awful to happen, these claims can be detrimental to an organization and, unfortunately, happen often. So, this additional coverage is worth the added cost to protect all participants.
Secondary Accident Medical
Following general liability, secondary accident medical coverage is also required. This type of coverage only applies to the youth participants while in the tournament.
The participants will be covered during the sanctioned activities but not outside of those activities, as that is where the general liability coverage comes in. The only exception is during sanctioned group travel to and from the tournament, to which this coverage extends.
The secondary accident medical coverage is for injuries, accidents, and accidental deaths or dismemberment during the sanctioned activities. This coverage goes beyond general liability coverage and can help pay for medical expenses caused by incidents during the tournaments. While this coverage is only for youth participants by default, it can also be extended to cover coaches and referees on an excess basis.
Youth players are the most likely to be injured during the sanctioned activities, but coaches and referees are close enough to the action that they are also at risk to some degree. The extended coverage ensures you cover all your bases and protects everyone from costly medical expenses.
Additional Coverage Options
The general liability and secondary accident medical coverage discussed above are required for all sports tournaments, but other coverage options extend to cover various unfortunate events.
If you’re interested in additional coverage for your sports tournament, consider adding one or more of the following policies to your insurance.
Catastrophic Secondary Accident Medical Excess Coverage
This coverage option extends the secondary accident medical coverage discussed above. It extends the base secondary accident medical insurance to cover up to $1,000,000 for the youth participants.
This insurance is an excellent choice if your sports tournament has a high number of youth participants or if the sport is particularly dangerous.
Directors and Officers
The directors and officers coverage focuses more on the administrators and the organization itself. This coverage protects against a breach of duty or negligence claims made against the directors and officers in charge of the tournament leagues and youth teams.
In addition to this coverage, you can add cyber liability coverage and employment practices liability insurance. These two types of coverage can protect you from claims from online activity associated with the tournament or claims from employees working at the tournament.
Inland Marine
Inland marine insurance is important if the sport involves expensive equipment or a lot of equipment. The inland marine insurance protects all team and league-related equipment.
This coverage applies to the equipment during the course of play, transport, and out-of-season storage so that the equipment will be protected at almost all times. This insurance can prevent paying out of pocket for costly equipment repairs or replacements.
Crime Protection
Lastly, crime protection is another type of recommended coverage for sports tournaments. The crime protection insurance protects the organization from internal theft of funds, including embezzlement.
You can insure for crime protection for up to $10,000 or up to $25,000, depending on the financial situation of your sports tournament and organization. The more money coming in and out of the tournament and organization, the higher coverage limit you should choose.
Protect Your Sports Tournament With ESP Insurance
You need at least general liability and secondary accident medical coverage for your sports tournament, and there is no one better to get you covered than ESP.
ESP has experience covering a wide variety of sports tournaments, from softball to golf to football and many more. We work with the country’s best insurance companies and our own member-based SHEL Risk Purchasing Association, offering our clients comprehensive and affordable rates that always leave them satisfied.
Trust ESP for all your sports tournament needs so you can enjoy the event’s competitive spirit and fast-paced energy without worrying about third-party lawsuits from bodily injury, participant injuries, property damages, and more.
Go Ahead We Have You Covered!
