Insurance For Sports Clubs
Sports clubs are fun places to hang out. As the owner of a sports club, you get to enjoy your hobby and passion, have lots of people around who also enjoy sports, and make money all at the same time. Like any business of course, a sports club must keep up with the daily responsibilities of paperwork, supplies and management. You’ve worked hard to create your dream, so be sure to protect it with the right types of business insurance.
General liability insurance protects your sports club when accidents happen, because it protects your clientele. This insurance might be required by your landlord if you rent or lease space to operate your sports club from, because it guarantees the building owner that there is the financial ability to pay for damages or lawsuits if accidents arise. General liability insurance will expand as your business grows too, so that when you add a new club location or new products they are automatically protected from the start.
General Liability Insurance Includes:
- Premises Liability - Premises liability is the part of your general liability insurance that protects your sports club from customer accidents and injuries. When people continuously go in and out of your business location, there is an increased risk that someone will hurt themselves while they’re on your property. Premises liability can pay the medical bills when people get injured, and it pays for repairs if their personal property is damaged.
- Products Liability - When you sell products to your customers, there may come a time that one of those products makes someone ill or causes them physical harm. Whether the product is defective or it went bad in transport, the sick customer may sue your sports club. Products liability can pay their medical bills and related expenses, as well as provide for your legal defense costs.
- Completed Operations - If your sports club provides services to customers, such as private party accommodations, completed operations insurance can pay for damages, injuries and legal claims that might arise after the services have been rendered.
Business Owners Policy
General liability insurance is included with a business owners policy, or BOP. This small business insurance is designed to allow you to pick and choose only the business insurance you actually need. Coverage options in a BOP help protect your sports club from financial losses to tangible and intangible assets. Examples include:
- Buildings and Contents
- Business Income and Extra Expense
- Electronic Data
- Newly Acquired or Constructed Buildings
- Employee Dishonesty Coverage
If you or your employees drive for business purposes, business auto insurance can protect you from losses caused by auto accidents. This coverage can also protect you from losses caused by theft, fire, vandalism and natural events.
By law, you are required to carry workers comp insurance when you have people employed at your sports club. Workers comp coverage protects your employees if they are ever hurt on the job, by paying for their required medical care that arises from the accident.
Commercial umbrella coverage is extra business insurance that helps protect you further after you have reached the maximum limitations of your other policies.