Sporting activities have become economically powerful and financially involving.
Sporting activities such as Football, Baseball, Basketball, Horse Racing, Car Racing, Volleyball, Athletics among others involves a lot of investment and it has become necessary for the individuals and organizations to protect their investment in sports against unforseen circumstances.
The insurance industry has therefore created a type of insurance policy called Sports Insurance to help protect participants in the sports fraternity against losses.
What is Sports Insurance?
Sports insurance is a type of insurance policy designed for the sports world that provides coverage for individuals or organizations involved in sports or athletic activities.
Sports Insurance provides cover against the following;
1. Accidental injuries sustained by participants, coaches, or spectators.
2. Liability claims arising from property damage.
3. Loss of income for professional athletes or sports organizations arising from injuries and cancellations.
4. Coverage for equipment, such as uniforms, helmets, and other gear used during sporting activities among others.