Go, team, go!

Sports have long been an integral part of the school experience across the United States. In fact, recent studies show that 57% of high school students played on at least one school or community sports team in the course of a year. Along with team spirit and hard work, however, many young athletes also experience injuries during practices or games. LIO Insurance’s President and Chief Operating Officer Seth Hall talks with SVP of Products and Amateur Sports Product Lead AJ Morgan about how schools can use sports insurance coverage to protect students and programs from the high costs and repercussions of accidents. 

Why Adding Sports Insurance Coverage Is a Great Call for Schools

A soccer ball sits on a goal line of a field before the game starts. With statistics showing that high school athletes experience approximately 2 million injuries, 500,000 doctor visits, and 30,000 hospitalizations each year, accidents can have a serious financial impact on student-athletes and programs. 

That’s why adding sports insurance coverage is important for schools. It’s all about protecting against the unexpected. Morgan says that families “… need to be protected by that accident policy should they get injured and have medical bills that are unpaid.” And organizations could face accusations of liability and negligence for the accident, which in turn can affect their budget and potentially even affect their reputation. Sports and recreation insurance can reduce the financial risk to both families and schools in one easy plan.  

What is amateur sport insurance coverage, and how does it work? 

According to Morgan, “It’s not just one thing. It’s a combination of lines and coverages within those lines … that you need for the amateur sports product.” 

This comprehensive coverage pays benefits to protect the school and its student-athletes from liability when accidents happen. This type of coverage, such as the one from LIO Insurance, usually offers: 

  1. General liability insurance (including participant legal liability and spectator liability) to cover accusations of negligence, abuse, or molestation and protect schools from the costs of a lawsuit.
  2. Accident insurance to help injured members with medical bills. These could range from out-of-pocket expenses left by primary health insurance or thousands of dollars if they don’t have primary health insurance.  
  3. Equipment insurance to cover the school’s equipment (often referred to as Inland Marine coverage).
  4. Venue protection for events and their physical locations. 
  5. Hired/Non-owned auto coverage for vehicles used in connection with the school and event.

Who needs this coverage? 

Broadly speaking, Morgan says, “any organization that runs an activity and has members needs this protection,” in order to protect itself from liability and financial risk.

How much coverage is needed? 

Plans like the ones offered by LIO provide: 

  • General liability that starts at $1 million per occurrence, with a $2 million aggregate and sublimits or separate limits for abuse and molestation up to $1 million. 
  • Accident coverage of $25,000 per accident with a $500 deductible.
  • Equipment coverage reflective of what the school owns.
  • Hired/Non-owned auto coverage of $1 million.

What should your school look for in a sport event insurance coverage and company?  

Girls’ lacrosse players in white and black uniforms are in the midst of a play. Schools should look for a company that has longtime sports insurance expertise and also offers a frictionless experience from start to finish. 

“We built a product based on our experience. And we think that’s very comprehensive,” Morgan says. “But add to that the team of people we have here who’ve been in the business a long time, including myself.”

LIO Insurance and its sports insurance team have decades of experience understanding the unique needs of both schools and athletes when accidents happen. Plus, LIO’s state-of-the-art technology portal, Morgan feels, “is going to make the transaction of buying amateur and sport sports insurance just so much more efficient than it’s been in the past. We think that combination is unbeatable, really.” 

With LIO, you can expect: 

  • Amateur sports and recreation policies tailored to the school’s particular needs
  • Affordable rates 
  • Bindable coverage issued in minutes
  • Flexible e-payments
  • Easy claims handling
  • Customer service with a satisfaction rating of 91 (industry standard is 37) 

If your school is looking for sports insurance or you’re a broker with school, league, camp, tournament, or other types of sports clients, LIO may be the partner for whom you’re looking. Talk to LIO today about our comprehensive insurance solution for the sports and recreation industry, and watch the video above for Seth Hall and AJ Morgan’s complete discussion.