Flood Insurance for sports clubs & leisure facilities
Many sports clubs and leisure facilities are based next to rivers or the sea or on nice flat flood plains and therefore, unsurprisingly, they struggle to get flood insurance; or if they can get flood insurance the premium and excess are unpleasantly high.
If flood insurance is a problem your organisation faces then Mann Broadbent might just have the solution for you. We have a simple and innovative technological solution: a sensor that is attached to the side of your building and pays out if it detects flooding to a pre-agreed depth. This is how it works:
- You select what depth of water would cause you problems;
- You select the amount of money you get paid if water reaches that depth;
- We install an electronic sensor on the outside of your building;
- If the water reaches your selected depth, the sensor transmits a message and you get paid!
Unlike traditional insurance, you don’t actually need to suffer damage to your building and contents to make a claim and you can spend the pay-out on whatever you like. In addition, you can adjust the premium by adjusting your chosen depth of flood water and the amount of pay-out. You can even select multiple flood depths, which will pay-out when each one is reached.
As an example, we were asked to help an unnamed county cricket club that floods most years, sometimes more than once a year. Because they regularly flood they have taken steps to become more resilient and their building is elevated to reduce the risks. However, smaller floods cause disruption and also damage their pitch, whilst major floods can still get into their buildings and cause significant costs. These are some of the options we found for them:
|Depth of water||Pay-out||Annual premium|
|Example 5||0.5m and 1.5m||£15,000 & £200,000||£3,353.72|
Common questions about our flood insurance:
What if I can’t get flood insurance? Speak to us, we have not yet found a sports or leisure facility that we couldn’t quote for, even those that have been flooded many times before.
What if my current insurance is expensive? Speak to us, we recently helped a client who was facing a combined premium of over £10,000, we separated their flood insurance from their other insurance and saved them over £8,000.
What if I have a large flood excess? Speak to us, you can keep your existing insurance and cover the excess with our flood insurance.
How much does flood insurance cost? With this policy the cost will depend upon your location, the depth of flood water you select and the amount of pay-out you select. You can tweak the depth and pay-out to adjust the premium.
How does this new kind of flood insurance work? A sensor is attached to the side of your building. When the sensor detects flood water to a pre-arranged depth the inbuilt SIM will send a message to the insurer who will promptly arrange payment to you.
How much insurance should I purchase? This type of flood insurance is different to traditional flood insurance. Normally you would need to accurately evaluate the repair and replacement costs of your property and contents and the predicted financial losses and additional costs of the disruption; and if you got those figures wrong your insurance company could penalise you. With this insurance you can insure to any amount and spend the claim money as you wish.
Can Mann Broadbent insure other parts of my organisation? Yes we can. Mann Broadbent has been specialists in the sports & leisure sector for over 50 years, insuring national governing bodies, events, leagues, clubs and individuals, both amateur and professional.
Duncan Sutcliffe, director, Mann Broadbent, commented: “It is revolutionary and evolutionary flood insurance. We are so pleased to be able to offer this to clubs, particularly considering how much of the country is affected by flooding.”