Everything to Know about Sports Insurance

20th November 2019
Before choosing a sports insurance, think over the basics to make sure you get the coverage you need.

Unlike what most of us believe, professional athletes aren’t the only ones who can benefit from having sports insurance. More and more people who play sports or seek adventures are realizing how important it is to have the right kind of insurance cover.

But of course, it doesn’t make sense to invest in sports insurance for time on the treadmill at the gym. Let’s take a closer look at sports insurances to have a better understanding of when to invest and why.

What does a sports insurance cover?

It depends! Today, you can find different kinds of sports insurances that are aimed towards different lifestyles or contexts. And insurers continue building their options to meet the diverse demands of the public needs.

Generally speaking, there are sports travel, sports accident, and multi-sports insurances. In sports travel and sports accident insurances, you might find that what they cover differs slightly as well as the cost for each type of activity that you want to insure. But these systems mainly focus on accidents that happen during a sport.

Some insurance plans include the following services locally or internationally:

  • Medical assistance.
  • Search and rescue.
  • Rehabilitation.
  • Return and medical transportation.
  • Prostheses and crutches.
  • Compensation for loss or recovery of sports items.

Meanwhile multi-sport insurances offer a wider coverage–and more expensive– coverage in addition to legal counsel and defense.

Sports insurance types

Sports insurance: when do you actually need it?

In Spain, athletes that play for a team competing in official state games have to have sports insurance that covers the minimum regulations as stated in the Royal Decree 849/1993 of June 4. It’s the same case for other athletes in different countries as well.

As for people who just play for fun and not for an official team, the answer isn’t as clear. You actually have to consider a number of factors to judge how relevant sports insurance is, and which one, is for you. For starters, the following aspects are a good place to help you make the right decision:

  • What kind of activities do you partake in? How intense or how frequently do you play? Going for a run at the city park three times a week isn’t the same thing as participating in extreme circuits in pure nature.
  • What are the risks at stake in your sport? The possible injuries that you can suffer are most likely already included in normal health insurance.
  • Are you planning on participating or playing during an international trip or competition? If so, you should look over what your travel insurance covers for amateur athletes.

Tips for finding the right sports insurance

You should never forget that the right sports insurance plan is the one that best suits your personal needs. The key always lies in being able to identify your specific requirements for an insurance plan.

Let’s go over some basic tips that you should know before choosing any kind of insurance plan. Knowing ahead of time will help save money and time:

Plan out your budget beforehand

The economic factor plays a big role in choosing one insurance plan or another. Before you start browsing, make sure you know how much you can afford to invest in sports insurance. You can also take advantage and review your spending and think about if you need a sports insurance or not.

sports insurance budget

Request a quote and purchase coverage

This is key. A single insurer can offer you several coverage plans for different costs. If you don’t know the small print in each option, you’ll lack the solid foundation you need to base your judgment on.

In light of that, before you sign any insurance contract make sure you request a quote and the coverage details. The information will help you compare and contrast your options and narrow down the one that best suits your needs.

Fortunately, you can search the internet for all of this information. Most insurers provide the details of their policies online as well as a quote. Now, it’s time to look around and choose!

  • Real Decreto 849/1993, de 4 de junio, por el que se determina las prestaciones mínimas del Seguro Obligatorio Deportivo. Extraído de: https://www.boe.es/buscar/doc.php?id=BOE-A-1993-16129
  • Federación Hípica de Madrid. 2018. Condiones Generales de un Seguro. Extraído de: SEGURO DEPORTIVO DE ACCIDENTES. CONDICIONES GENERALES