Generally, sports insurance protects the capacity of sports businesses, such as those that own and manage professional teams or sports facilities, to continue operations despite experiencing setbacks, such as their athletes being injured or getting sick while playing during an important season or getting sued because of an in-house dispute between athletes and managers. More than its provision of financial support for medical and health maintenance costs, liability insurance in sports and other high-risk recreational activities acts like an umbrella protection for everyone involved, including spectators who may have been hit by a wayward ball or injured after falling from an unstable bleacher while watching a sports event.
Other than legal and medical indemnity, sports equipment insurance offers support for repairs on equipment and facilities damaged during a game or during practice. The owners of the sport equipment may request for reimbursements for technical repairs or for the purchase of a brand-new machine or tool. Similarly, the team manager may also request through sports insurance replacements for deeply damaged or misplaced training equipment and even sports camp insurance for clinics and camps. Moreover, gym facilities and stadium authorities may as well take advantage of sports equipment liability insurance to request repairs or renovations done on bleachers, grass fields, lights and wide screen televisions, sound systems, comfort rooms, and even, food service and water dispensing stalls.
Aside from purchasing replacements for lost equipment, sports equipment protection policies also help team owners, and managers reduce their financial burden when replacing stolen equipment. Stealing sports equipment, such as soccer balls or baseball gloves, and selling them on eBay seems a common problem, especially with disgruntled employees working at the stadium and the gym or with unpaid volunteers working during a major charity sports event. This type of insurance also pays for lawyer’s fees when the case reaches the courts. Lastly, sports liability insurance also covers repairs, renovations, and replacements on damaged sports equipment and facilities after a fire, a flood, or an earthquake.