Tuesday, August 25, 2009

Fantasy Sports Insurance

I was listening to the radio today and they were talking about this so I decided to look it up. Fantasy Sports Insurance, is a website that offers just that, fantasy sports insurance.

"FSI is a new and innovative Disability Insurance policy that protects a fantasy team owners’ investment in their team should a key player(s) suffer a “season changing” injury."

Basically how it works is this coverage will protect your fantasy investment from a "season changing" loss as a result of an injury to a key player. The policy will allow you to recoup your league fee's if you loose a key fantasy player.

I did a test rating just to see how it works:

So let's use Adrian Peterson as an example. There are three coverage options:
Option 1: One key player misses 10 out of the first 15 NFL regular season games.- due to injury
Option 2: One key player misses 8 out of the first 15 NFL regular season games.- due to injury
Option 3: Three Key players miss a combined total of 18 out of the first 15 NFL regular season games- due to injury.

I chose option 1, I want to cover if I lose Peterson for 10 games this season. For examples sake I say that I spent $100 on league fees. I can also select coverage for Intra-season transaction fees (which I chose for $30), as well as addition expenses such as magazine subscriptions, online fee's etc. (which I chose for $20.)

So we are looking to cover our $150 investment which includes league fee's, transaction fee's, and subscription fee's. To cover this the 2009-2010 Fantasy Football premium would be: $18.03.

This really is not that bad of a deal. If you are playing in a high dollar league this can really serve to protect your investment. I have not reviewed the policy language but from what I understand you could still win your league with your other players. This policy will just cover you if your "key player" goes down. You must identify that key player and purchase coverage prior to the loss. So you would have to buy this before the season starts. You can only cover their identified "Top 50." So you can't get your fee's back if you lose Andre Caldwell.

This is a very innovative product that would make sense to use if you were playing in some high dollar fantasy leagues.


SHU said...

Wow... where has the world gone wrong... now there's truly insurance for everything!

Wojo said...

I think this is insane. It sounds like a money vacuum for whoever wrote the policy. To reach a point where an insurance policy makes sense, someone would have to drop quite a bit of money into FFB. By that point, one of two things becomes apparent: a) the manager has too much money to burn or 2) the manager doesn't have money to burn and needs to cover his rear (sort of) in case his team tanks.

Adam said...

This really was designed for those who play in high dollar leagues. No sense in protecting your $20 investment. But if I am paying $500 to play in a league I will definately use it.

redleg2420 said...
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