A Helpful Guide to Accident and Health Insurance for Basketball Teams

Did you know that basketball is the number one sport when it comes to injuries?

In fact, according to the US Consumer Product and Safety Commission, there are over 500,000 injuries each year from basketball alone.

As a business owner or organizer who runs a basketball team operation, keeping your players and coaches safe should be your top concern.

But what can you do to avoid basketball injuries? And what types of insurance should you have in place for when accidents do happen?

Keep reading for our helpful guide to accident and health insurance for basketball teams and how to control basketball injuries. 

The Importance of Accident and Health Insurance for Basketball Teams

It's common to think you don't need accident and health insurance for your basketball team because it's supplemental. However, this sort of thinking can cost you.

This type of insurance is offers some essential benefits. For one, accident and health insurance can make a huge difference for your participants.

As we mentioned above, basketball is the sport that sees the most injuries each year. Even a small injury requiring only a single trip to a doctor can be more than your participants' families can afford, especially today.

When you have accident and health insurance, your participants will be made whole for their out-of-pocket expenses. As you can imagine, this can improve your relationships with participants and shows you care about their well-being, physically and financially.

Cutting Down on Lawsuits

While you might think your players and coaches wouldn't file a claim or lawsuit against you, they might not have a choice if they can't afford their medical bills.

Supplemental health and accident insurance can mitigate your damages from accidental injuries by reducing the occurrence of liability claims. When an injured party is reimbursed for their out-of-pocket expenses regardless of why the accident occurred, they aren't as likely to file a liability claim.

Business owners and groups should do everything they can to avoid having a claim on their liability policy. General liability coverage is generally  more expensive than accidental and health coverage and your rates can go up when a claim is filed.

Your general liability policy will cover you regardless of fault for the accident. This means that if you are sued for an accident that wasn't your fault, your insurance company will defend you and cover the legal fees incurred to prove that your negligence didn't cause the accident.

Participants who file liability claims are usually represented by an attorney, driving up settlement costs and legal fees. When liability claims and lawsuits are filed, participants usually seek additional compensation for pain and suffering. These claims can be expensive for insurance companies to settle and investigate, even if you weren't at fault for the accident that occurred.

The bottom line is that accident and health insurance can cut down on liability claims by reimbursing participants for their medical expenses, deterring them from filing a liability claim against you. 

Preventing Basketball Sports Injuries

When it comes to sports injuries, prevention is key. There are a number of safety protocols you can implement to reduce the incidence of basketball-related injuries.

Participants should be outfitted in proper attire, including gym shoes that fit properly and are designed to prevent skidding. Mouthguards, knee and ankle braces, and safety glasses should be used as needed. Participants should not wear jewelry.

The basketball court should always be clean, dry, and free of debris.

Coaches should encourage players to warm up and stretch before play begins. Finally, when injuries do occur, participants should be completely healed before returning to the court. 

What to Do if an Accident Occurs

While all players and their injuries are unique, there is an easy to remember acronym that can be helpful in initially treating minor injuries. If you are dealing with youth, it is important to immediately contact their parents or guardians and determine whether emergency care is necessary.

In many cases, a minor injury can be treated using the P.R.I.C.E. method. Let's take a closer look at what this means.

Protect

The P stands for Protect. This means that the injured area should be protected from further injury using a brace, splint, or crutches.

Rest

The R stands for Rest. The participant needs to rest the injured area.

Ice

The I stands for Ice. Icing the injured area can help with swelling and pain. You can learn more about how to properly ice an injury here

Compression

The C stands for Compression. Wrapping an injury with a bandage or Ace wrap can reduce the amount of swelling. 

Elevate

The E stands for Elevate. You can also use gravity to reduce swelling by elevating the injured area. 

Purchasing Accident and Health Insurance for Your Basketball Team

If you run a basketball camp, a basketball contest, or have a basketball team, you may want to consider the best way to  protect your players and coaches.

While basketball is a favorite sport for many, it's a physical activity that doesn't come without risk. Accident and health insurance for basketball teams can help protect you as a business owner and take care of your participants when accidents inevitably occur, at a small cost to you.

While it's important to do everything you can to prevent accidents and have the proper protocol in place for when they do happen, one of the best things you can do is have the right insurance in place.

These posts are for informational purposes only and should not be considered as specific financial, legal or tax advice. Depending on your individual circumstances, the strategies discussed in this post may not be appropriate for your situation. Always consult your legal or tax professionals for specific information regarding your individual situation. In providing such information, Great American does not warrant that all potential hazards or conditions have been evaluated or can be controlled. The liability of Great American Insurance Company is limited to the terms, limits and conditions of the insurance policies underwritten.  Policies are underwritten by Great American Insurance Company, an authorized insurer in all 50 states and the DC.  © 2021 Great American Insurance Company, 301 E. Fourth St., Cincinnati, OH 45202.  All rights reserved.  Please see Great American Insurance Company’s Legal Disclosures/Terms and Conditions.

 

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