Fantasy Football Insurance


By: Seth Kirby
Among sports fans, it is common knowledge that insurance products exist which protect against the risks associated with player injuries.  A professional sports team might purchase a disability policy to pay all or a portion of the salary of a player that is unable to play due to injury.  Similar products exist for college athletes to protect them in the event they are injured and their injuries prevent them from later playing professional sports.  Given the fact that professional sports are a multi-billion dollar global industry, the existence of these unique insurance products is understandable.
Fantasy sports leagues in which participants draft players and compete against each other based upon the statistical performance of their selected team have become an absolute obsession for NFL fans.  Surprisingly, it is estimated that in 2012 individuals spent over $1.7 billion dollars to participate in fantasy sports leagues.  The fantasy sports enthusiast becomes a virtual owner of his own NFL franchise, betting their entry fee on the performance of their star players.  But what happens to the virtual owner when their #1 draft pick blows out their knee early in the season?  Did the owner go from a competitive player to a mere donor to the winner’s fund?  Probably, but did you know that an insurance product exists that will help alleviate this risk?
Established in 2008, Fantasy Sports Insurance sells disability insurance to fantasy sports owners.  The company was recently featured in an NPR report on the “fantasy sports economy”.  It is one of several real businesses that have grown out of the popularity of fantasy sports.  The insurance offered by Fantasy Sports Insurance will refund your entry fee and any associated expenses in the event that your designated player incurs a season ending injury.  If you long to feel more like a real team owner in your fantasy sports exploits, then maybe you should consider buying insurance on your top draft pick.  To read more about the fantasy sports economy, check out NPR’s blog entry.