Sports Accidents Happen: How to Recover Financially
Posted on: June 26, 2015 by Aegis General
As we mentioned in a blog post earlier this year, sports injuries can be a costly liability concern for coaches, team managers and event sponsors. Not only can they be complex and hard to heal for the player that is affected by an injury, the recovery process can be long and tedious, racking up more costs as the months go by. For this reason, it’s absolutely essential that athletic teams be financially prepared with the right Accident Insurance for Sports Teams.
While injured players need to focus on recovering physically, if a lawsuit occurs then the team manager or owner will have to recover financially. This is oftentimes not doable without the right insurance coverage. Something as simple as a sprained ankle could cost over $2,000. A broken arm could cost the individual over $7,000, according to HHS.gov. Imagine if a basketball player injured his ACL. This type of injury is far more severe than a sprain or a break, requiring complicated surgery and a long recovery that could cost them time out of work in addition to time off the playing field.
If you think that sports injuries are rare, think again. A 2012 study showed that almost 570,000 basketball injuries were treated in emergency rooms nationwide, including over 8,000 that resulted in extended hospitalization. How about football? More than 466,000 of these injuries were treated in emergency rooms nationwide, with 10,000 requiring extended hospitalization.
If a sports team, coach, or team manager is sued, how will they recover financially? Aegis General Insurance Agency offers Blanket Accident insurance for athletic teams and their participants, including coaches, managers, mascots, cheerleaders, and scorekeepers in addition to players. To learn more about this insurance coverage and the eligible sports included, please give us a call at 855.399.0966 today.