Contender E sports Franchise Business Insurance

Getting insurance for your Contender Esports franchise is essential.

Contender Esports franchises need to be protected against things like disputes with sponsors, contractual breaches, and negligence surrounding player health and safety.

For example, an esports team member injures themselves during a tournament, or your latest social media post is disparaging against one of the franchise’s partners.

We’ll help you find the most personalized and affordable coverage for your unique business.

Recommended: Next Insurance is dedicated to matching small businesses with the right policy at the best price.

Best Insurance for a Contender E sports Franchise

General liability insurance is — generally speaking — one of the most important insurance policies for Contender Esports franchises. 

Some of the risks general liability insurance covers are:

  • Bodily injury
  • Property damage
  • Medical payments
  • Legal defense and judgment
  • Personal and advertising injury

That said, your franchise is likely to need several supplementary policies in addition to general liability in order to achieve comprehensive protection. Some of these policies could include:

  • Commercial property insurance
  • Business interruption insurance
  • Workers’ compensation insurance
  • Data breach insurance
  • Commercial umbrella insurance

If you are looking to acquire coverage for your business, it is vital to be aware of the distinction between the two main types of insurance providers:

  • Traditional brick-and-mortar insurers — Providers such as these operate primarily from offices and storefronts. From here, customers can receive guidance and personalized quotes from insurance agents in-store.
  • Online insurers — Providers such as these operate entirely online, where customers interact with AI to receive accurate quotes very quickly and conveniently. Due to the lower operating costs of this business structure, online insurers can offer their services far more affordably.

Find the Right Policy at the Best Rate

We’ve reviewed and tested the major business insurance providers. Let us help you find the best match for your business.

Read Our Review

Cost of General Liability Insurance

On average, Contender eSports franchises in America spend between $400 - $1,100 per year for $1 million in general liability coverage.

Compare the average cost of general liability insurance for a contender e sports franchise to other professional industries using the graph below:

Graph showing average price of general liability insurance prices per industry

Several factors will determine the price of your policy. These include your:

  • Location
  • Deductible
  • Number of employees
  • Per-occurrence limit
  • General aggregate limit

You may be able to acquire general liability insurance at a discounted rate by purchasing it as part of a business owner’s policy (BOP) rather than as a standalone policy.

A BOP is a more comprehensive solution that includes multiple forms of coverage, such as business interruption and property insurance.

Start an Online Quote for Insurance

Finding the most affordable premium starts with getting accurate quotes from highly rated providers.

Common Situations That General Liability Insurance May Cover for a Contender E sports Franchise

Example 1: A customer trips over a stray item left near the front door and hits their head on a gaming station. General liability insurance would cover the cost of their medical expenses.

Example 2: An employee spills water across several gaming stations, causing serious damage. General liability insurance would cover the cost of repairing or replacing the damaged gaming stations.

Example 3: During the biggest game of the year, an employee accidentally resets the gaming station and causes the crowd to miss the most pivotal part of the live game. General liability insurance would cover the cost of issuing refunds to your guests.

Check out our review of the Best Small Business Insurance Companies.

Other Types of Coverage Contender E sports Franchises Need

While general liability is the most important type of insurance to have, there are several other forms of coverage you should be aware of. Below are some other types of insurance all Contender eSports franchises should obtain.

Commercial Property Insurance

If you own the building in which you operate, commercial property insurance would cover the cost of repairing or replacing your business-related property in the event of a fire, burglary, or natural disaster. This includes the cost to repair any structural damage to your building as well as to repair or replace any gaming and administrative equipment you store there.

Business Interruption Insurance

Business interruption insurance helps you replace your lost revenue if you ever need to close your business temporarily. For example, if a storm breaks all the windows in your store and the water damages your gaming equipment, you may need to shut down for several weeks to make repairs. This insurance will provide a stipend based on your past revenue to help ensure you don’t go out of business before you can reopen.

Workers’ Compensation Insurance

Most states require businesses to carry workers’ compensation insurance for their part-time and full-time employees. This coverage protects your employees if they become injured at work or fall ill after a work-related accident — including chronic injuries from repetitive motions. It not only covers an employee’s medical bills and lost wages if they need time to recover, but also any disability or death benefits stemming from a work-related accident.

Data Breach Insurance

Data breach insurance specifically covers costs associated with a successful digital hack. If your business loses sensitive customer information as a result of a cyber attack, this coverage would help pay to restore your computer network and cover your legal expenses in the event of a serious lawsuit.

Commercial Umbrella Insurance

While your general liability insurance policy covers most claims, some accidents or lawsuits may be so catastrophic that they threaten to exhaust the limits of your primary coverage. Commercial umbrella insurance protects you from paying out-of-pocket for any legal fees and awarded damages that exceed your primary policy.

Additional Steps To Protect Your Business

Although it’s easy (and essential) to invest in business insurance, it shouldn’t be your only defense.

Here are several things you can do to better protect your contender e sports franchise:

  • Use legally robust contracts and other business documents. (We offer free templates for some of the most common legal forms.)
  • Set up an LLC or corporation to protect your personal assets. (Visit our step-by-step guides to learn how to form an LLC or corporation in your state.)
  • Stay up to date with business licensing.
  • Maintain your corporate veil.

Business Insurance Is the Best Way to Protect Your Business

If you're starting a new business, then you need business insurance. It's as simple as that. The protection offered by an LLC will protect your personal assets, but your business's assets are still open to liability in the case of a lawsuit or other loss.

Be sure that everything you've built is safe by getting business insurance.

Get a Free Quote

Contender E sports Franchise Business Insurance FAQ

Can I buy business insurance online for my contender e sports franchise?

Yes, absolutely. You will need to first get a quote from an online business insurance provider like Next Insurance. Next allows you to then purchase a policy immediately and your coverage will be active within 48 hours.

What is included in a business owner’s policy?

A typical business owner’s policy includes general liability, business interruption, and commercial property insurance. However, BOPs are often customizable, so your agent may recommend adding professional liability, commercial auto, or other types of coverage to your package depending on your company’s needs.

What is the difference between business insurance and general liability insurance?

"Business insurance" is a generic term used to describe many different types of coverage a business may need. General liability insurance, on the other hand, is a specific type of coverage that business owners need to protect their assets.

Do I need insurance before I start a Contender Esports franchise?

Yes. Ideally, business insurance should be secured for your Contender Esports franchise before it starts so as to best protect it from the many risks it is likely to face.

Possessing insurance before starting can be more than just a recommendation, as it is also very common for businesses to be obligated to carry specific policies to maintain legal compliance.

Will insurance protect my contender e sports franchise from everything?

Not necessarily. Certain exceptions may be written directly into your contender e sports franchise insurance policy, and some perils may be entirely uninsurable.

Do I need business insurance if I already have an LLC?

Yes, an LLC is meant to create a legal barrier between your business and your personal assets and credit. If you haven’t formed an LLC yet, use our Form an LLC guide to get started.

An LLC doesn’t protect your business assets from lawsuits and liability– that’s where business insurance comes in. Business insurance helps protect your business from liability and risk.

Related Articles