Each year, roughly 1 million children join a basketball program, and more than 100,000 of them are typically sidelined by an injury sustained during practice or a game, according to information from Ohio University. The good news is that most of these injuries are minor and not life-threatening, but they can create problems for the team or league if the child does not have insurance to pay for the treatment they need.
The average cost of an urgent care visit is $185, and that rises to more than $2,500 for treatment in an emergency room. This is why it’s important for youth basketball teams and leagues to have adequate insurance. Parents may expect your organization to pay for some or all of the medical costs for these injuries — even if they have medical coverage.
Participating in team sports is a valuable experience for children and teens, and protecting the group’s finances ensures you can continue to offer this opportunity to more kids. The cost of an insurance policy is a fraction of these treatment costs. Ideally, you will never have to use the policy, but it’s comforting to know it’s there just in case.
Coverage Options
What you actually pay for youth basketball insurance depends on the type of coverage you purchase. Each league has different risk levels and requirements, so your coverage is completely customizable. This lets you choose the protection you need for your players, directors, and volunteers.
Coverage plans like general liability and secondary accident medical are typically mandatory. They provide basic protection, but your group may also benefit from additional coverages that give you broad protection against a variety of incidents that could be financially devastating.
General Liability
General liability is comprehensive coverage that protects your players, coaches, and volunteers. This type of coverage typically includes bodily injury, personal injury, property damage, and legal defense.
Secondary Accident Medical
In addition to general liability, secondary accident medical provides additional coverage for injuries, accidents, accidental death, and dismemberment. This coverage also applies to players during travel and away games.
Catastrophic Secondary Accident Medical Excess Coverage
Since you cannot predict the severity of injuries sustained during practice or competition, this coverage provides additional protection of up to $1 million.
Directors and Officers
The people who oversee the youth basketball league may not be at risk of injuring themselves on the court, but they can make mistakes that put the organization at risk. This coverage provides protection against omissions, asset mismanagement, and the like.
Inland Marine
This coverage protects the equipment used by the team and league. It’s in effect during games, transport to games and tournaments, and storage between seasons.
Crime Protection
Your organization can choose between $10,000 and $25,000 in coverage in the event someone within the organization steals funds.
Questions To Ask When Choosing Coverage
The types of coverage you purchase — and the limitations of the policies — affect the total cost, so choosing the right coverage is essential. When shopping for youth basketball insurance, you may find a variety of policy options and coverages. As you explore what’s available, consider the following questions to help you find the right policy for your organization.
1. What does the policy cover?
At the very least, your policy should cover injuries and property loss for the players and the team. A more comprehensive policy protects personnel from claims of abuse, defamation, and discrimination.
2. Where is the coverage in effect?
Youth basketball teams typically play in multiple places beyond the courts where they practice. During competitions and tournaments, they may travel to other cities and states. Look for a policy that protects the team and the players in all the places they go.
3. Who does the policy cover?
Of course, you want protection for your players, but they aren’t the only ones who need coverage. The policy should also apply to the organization and people who work with it, including directors, coaches, and support staff.
Youth basketball insurance is not a one-size-fits-all product. For years, ESP Specialty has been partnering with youth sports organizations across the country to ensure they have the protection they need. During that time, we’ve learned a thing or two about the types of coverage these groups need and can put together a combination of policies with comprehensive coverage terms.
Learn more about Youth Basketball Insurance and let us help design the right solution for you.
Go Ahead, We Have You Covered
