Best Business Insurance for eSports Teams in 2024 (Top 10 Companies Ranked)
Discover the best business insurance for eSports teams with top picks Farmers, USAA, and State Farm, starting at just $140/month. These providers excel in tailored coverage and rates for eSports teams, offering unmatched services and comprehensive policies to protect your competitive edge.
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Chris Abrams
Licensed Insurance Agent
Chris is the founder of Abrams Insurance Solutions and Marcan Insurance, which provide personal financial analysis and planning services for families and small businesses across the U.S. His companies represent nearly 100 of the top-rated insurance companies. Chris has been a licensed insurance agent since 2009 and has active insurance licenses in all 50 U.S. states and D.C. Chris works tireles...
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UPDATED: Apr 14, 2024
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UPDATED: Apr 14, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Whether you’re an established eSports brand with multiple teams or a budding organization entering the industry, understanding the risks and obtaining the right insurance coverage is paramount. We will discuss topics such as general liability insurance, property insurance, cybersecurity insurance, workers’ compensation, and more.
Our Top 10 Company Picks: Best Business Insurance for eSports Teams
| Company | Rank | Multi-Policy Discount | Low-Mileage Discount | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
 | #1 | 25% | 20% | Local Agents | Farmers |
 | #2 | 10%-25% | 5%-20% | Military Savings | USAA |
 | #3 | 17% | 30% | Many Discounts | State Farm |
 | #4 | 5%-15% | 5%-15% | Policy Options | Chubb |
 | #5 | 20% | 20% | Usage Discount | Nationwide |
 | #6 | 5% | 5%-15% | Deductible Reduction | The Hartford |
 | #7 | 13% | 5%-20% | Accident Forgiveness | Travelers |
 | #8 | 10% | 30% | Online Convenience | Progressive |
 | #9 | 25% | 30% | Add-on Coverages | Allstate |
 | #10 | 25% | 30% | Customizable Polices | Liberty Mutual |
To ensure your team is adequately protected, it’s crucial to work with experienced insurance professionals who understand the unique needs of the gaming industry. Discover more about offerings in our Insurance quotes online.
Secure the best insurance coverage for your eSports team online by entering your zip code above and compare rates from top insurance providers. Don’t leave your team’s future to chance – take the necessary steps to success with the right insurance coverage.
- Farmers is the leadding business insurance for eSports teams
- Tailored policies address the unique risks faced by eSports teams
- Coverage includes cyber threats, equipment damage, and liability
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#1 – Farmers: Top Overall Pick
Pros
- Local Agents: Farmers emphasizes personal service with local agent availability.
- Significant Bundling Discounts: Offers up to 25% off for bundling policies. Discover insights in our Farmers insurance review & ratings.
- Customized Coverage: Tailored options designed to meet diverse business needs.
Cons
- Limited to High Bundle Discounts: Highest savings require substantial bundling.
- Potential for Higher Rates Without Bundles: Rates may be less competitive without multiple policies.
#2 – USAA: Best for Military Savings
Pros
- Military Savings: Specialized discounts for military members and their families.
- Flexible Discount Range: Savings of 10%-25% for policyholders. Unlock details in our USAA insurance review & ratings.
- Strong Support for Military Families: Tailored services for those with military connections.
Cons
- Membership Requirements: Services restricted to military members, veterans, and their families.
- Variability in Savings: Discount range could mean unpredictability in savings.
#3 – State Farm: Best for Many Discounts
Pros
- Diverse Discount Opportunities: Offers a range of discounts including a high low-mileage discount.
- Extensive Coverage Options: Broad array of tailored coverage solutions. Delve into our evaluation of State Farm insurance review & ratings.
- Significant Low-Mileage Discounts: Up to 30% off for reduced mileage.
Cons
- Mixed Multi-Policy Discounts: While available, may not compete with the highest market offerings.
- Possible Higher Premiums: Some coverage levels may have higher associated premiums despite discounts.
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#4 – Chubb: Best for Policy Options
Pros
- Tailored Policy Options: Chubb provides 5%-15% savings with customized policy options.
- Balanced Discounts: Offers consistent discount rates for various policies.
- Global Reach: Ideal for businesses with international exposure. Access comprehensive insights in our Chubb insurance review & ratings.
Cons
- Lower Discount Ceiling: Maximum discounts are moderate compared to competitors.
- Niche Market Focus: Best suited for specific, often high-end, business needs.
#5 – Nationwide: Best for Usage Discount
Pros
- Significant Usage Discounts: Offers up to 20% off for monitoring usage. Discover more about offerings in our Nationwide insurance review & ratings.
- Comprehensive Coverage: Wide variety of options to suit different business models.
- Consistent Discount Opportunities: Both bundling and usage discounts reach up to 20%.
Cons
- Usage Monitoring Required: Best discounts require usage tracking.
- Could Be Overwhelming: The array of options might confuse some customers.
#6 – The Hartford: Best for Deductible Reduction
Pros
- Deductible Reduction Options: Offers a unique selling point with deductible savings.
- Loyalty Discounts: Savings for long-term policyholders. Learn more in our The Hartford insurance review & ratings.
- Customized Solutions: Focus on tailored coverage for businesses.
Cons
- Lower Discount Range: More modest discounts compared to other insurers.
- Best for Established Businesses: Optimal benefits accrue over time, potentially limiting immediate savings for new customers.
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#7 – Travelers: Best for Accident Forgiveness
Pros
- Accident Forgiveness: Offers leniency on first accident claims. See more details in our Travelers insurance review & ratings.
- Wide Discount Range: Discounts for various customer profiles.
- Tailored Business Policies: Customization options for diverse business needs.
Cons
- Variable Discount Rates: Savings can vary widely between policies.
- Complexity in Policy Customization: The range of options may require more effort to navigate.
#8 – Progressive: Best for Online Convenience
Pros
- High Online Convenience: Streamlined online services for businesses. More information is available about this provider in our Progressive insurance review & ratings.
- Substantial Bundling Discounts: Up to 30% off for multiple policies.
- Wide Range of Products: Offers a diverse set of insurance products.
Cons
- Reliance on Digital Interaction: Personalized agent service may be less emphasized.
- Potential for Premium Variability: Some businesses may find fluctuating rates based on online metrics.
#9 – Allstate: Best for Add-on Coverages
Pros
- High Discount Potential: Up to 30% off with add-on coverages. Read up on Allstate insurance review & ratings for more information.
- Robust Policy Add-Ons: Wide array of additional coverage options.
- Tailored Business Solutions: Customizable policies to meet specific needs.
Cons
- Higher Base Rates: Discounts are substantial, but base rates may be higher.
- Complexity in Maximizing Savings: Best discounts require careful policy structuring.
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#10 – Liberty Mutual: Best for Customizable Policies
Pros
- Extensive Customization: Liberty Mutual offers policies tailored to exact business needs.
- High Potential Discounts: Savings up to 30% with customizable policies. Check out insurance savings in our complete Liberty Mutual insurance review & ratings.
- Broad Coverage Options: Wide selection to cover various aspects of business risk.
Cons
- Requires Policy Tailoring: Maximizing benefits requires specific customization.
- May Have Higher Starting Rates: Customizable options come with a potentially higher base cost.
Monthly Insurance Premiums for eSports Teams: A Comparative Overview
The business insurance landscape for eSports teams is both competitive and diverse, offering a range of coverage options to suit various needs and budgets. This section examines the monthly rates provided by various insurance companies, focusing on the distinction between minimum and full coverage options.
Business Insurance Monthly Rates for eSports Teams
| Insurance Company | Minimum Coverage | Full Coverage |
|---|---|---|
| Allstate | $150 | $450 |
| Chubb | $170 | $510 |
| Farmers | $160 | $480 |
| Liberty Mutual | $175 | $525 |
| Nationwide | $155 | $465 |
| Progressive | $150 | $450 |
| State Farm | $165 | $495 |
| The Hartford | $180 | $540 |
| Travelers | $160 | $480 |
| USAA | $140 | $420 |
The table outlines monthly insurance rates from ten prominent insurance companies, distinguishing between minimum and full coverage rates. For minimum coverage, the rates range from $140, offered by USAA, to $180, provided by The Hartford, indicating a moderate variance that reflects different coverage bases or risk assessments by the insurers.
Full coverage rates exhibit a similar variance, with USAA again presenting the lowest rate at $420 and The Hartford offering the highest at $540. This suggests a consistent approach to risk evaluation across different levels of coverage, where companies that tend to offer lower rates for minimum coverage also tend to be more affordable for full coverage.
The spread between the minimum and full coverage rates consistently spans a substantial margin, highlighting the significant increase in protection and, consequently, the premium cost associated with securing comprehensive insurance cverage (read our “What is comprehensive coverage?” for more information) for eSports teams.
Safeguarding Your eSports Team: Essential Insurance Policies to Acquire
When it comes to protecting the financial well-being and operations of eSports teams, acquiring the right insurance coverage is crucial. Below is a comprehensive list of insurance policies that eSports teams should consider obtaining:
- General Liability Insurance: This policy provides coverage for a wide range of liabilities, including property damage, bodily injury, and advertising injury. It protects the team from potential lawsuits and claims that may arise from third parties.
- Property Insurance: Property insurance is essential for safeguarding the team’s physical assets, such as gaming equipment, training facilities, and office spaces. It covers damages caused by natural disasters, fires, vandalism, and theft.
- Cybersecurity Insurance: In the digital age, cybersecurity is a significant concern for eSports teams. Cybersecurity insurance helps protect the team from cyber threats, including data breaches, hacking, and ransomware attacks. It provides coverage for expenses related to forensic investigations, legal fees, notification costs, and potential liability arising from data breaches.
- Workers’ Compensation Insurance: As eSports teams treat their players and staff as employees, workers’ compensation insurance becomes essential. This policy covers medical expenses, rehabilitation costs, and lost wages in the event of work-related injuries or illnesses.
- Long-Term Disability Insurance: Long-term disability insurance provides income protection for players who suffer a disabling injury or illness that prevents them from participating in eSports. It ensures that players receive a portion of their income during the period of disability, helping them maintain financial stability and cover living expenses.
- Employment Practices Liability Insurance (EPLI): EPLI covers the team against claims of wrongful termination, discrimination, harassment, or other employment-related issues. As eSports teams have contractual agreements with players, coaches, and staff, this insurance protects them from potential lawsuits arising from employment practices.
- Directors and Officers Insurance (D&O): It provides coverage for the personal liability of directors and officers within the eSports organization. It protects them from claims related to alleged wrongful acts, mismanagement, or errors in decision-making.
- Event Cancellation Insurance: eSports teams often organize and participate in tournaments and events. Event cancellation insurance safeguards the team’s financial investment in these events in case they need to be canceled or postponed due to unforeseen circumstances such as severe weather, venue issues, or unforeseen disruptions.
- Professional Indemnity (Errors and Omissions) Insurance: Professional indemnity insurance protects eSports teams against claims of professional negligence, errors, or omissions in the services they provide. This coverage is particularly relevant for teams involved in event management, broadcasting, talent management, or sponsorship activities.
- Commercial Auto Insurance: If the eSports team owns or operates vehicles for transportation purposes, such as team buses or vans, commercial auto insurance is necessary. It provides coverage for liability, physical damage, and medical expenses in case of accidents or damage to the team’s vehicles (For more information, read our “Commercial Auto Insurance: A Complete Guide”).
It is important for eSports teams to work with insurance professionals experienced in the gaming industry to assess their specific needs and customize insurance packages that provide adequate coverage against the unique risks they face.
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Case Studies: Importance of Business Insurance for eSports Teams
Delve into the pivotal role of business insurance in safeguarding eSports teams from a spectrum of potential risks and uncertainties. Through a series of illustrative case studies, we uncover how different types of insurance policies serve as essential tools for managing financial, legal, and operational challenges within the fast-paced and unpredictable realm of eSports.
- Case Study #1 – General Liability and Property Insurance: A prominent eSports team recently organized a live tournament in a rented venue. During the event, a spectator tripped and fell, resulting in injuries. The injured individual filed a lawsuit against the team, claiming negligence. Fortunately, the team had general liability insurance, which covered the legal expenses and settlement costs associated with the claim.
- Case Study #2 – Cybersecurity Insurance: An eSports team experienced a severe cyber-attack that targeted their online gaming platforms, compromising sensitive player data and disrupting their operations. The attack led to significant financial losses and reputational damage. Fortunately, the team had invested in cybersecurity insurance.
- Case Study #3 – Workers’ Compensation and Long-Term Disability Insurance: A professional eSports player suffered a repetitive motion injury, specifically carpal tunnel syndrome, which severely impacted their ability to perform. The injury required surgery and extensive rehabilitation, rendering the player unable to compete for an extended period.
The case studies presented herein compellingly underscore the significance of business insurance as a foundational safety net for eSports teams.
By offering protection against legal liabilities, cyber threats, and health-related work injuries, these insurance solutions empower teams to focus on their competitive aspirations while mitigating the impact of adverse events.
In Review: Business Insurance for eSports Teams
Securing the appropriate insurance coverage is vital for the long-term success and stability of eSports teams. The rapid growth of the industry and the unique risks it presents make it essential for teams to be prepared for unexpected challenges.
General liability insurance protects against third-party claims, while property insurance covers damages to equipment and facilities. Cybersecurity insurance shields teams from cyber threats and data breaches. Workers’ compensation and long-term disability insurance provide support for players’ well-being and financial security.
Melanie Musson Published Insurance Expert
Employment practices liability insurance and directors and officers’ insurance guard against legal risks. By working with insurance professionals experienced in the gaming industry, teams can customize their insurance packages to meet their specific needs. Protect your team’s future by acquiring the right insurance coverage today.
Our free quote tool below makes it easy to compare affordable coverage options for your business — simply enter your ZIP code to find the best commercial insurance company for you.
Frequently Asked Questions
Why is insurance crucial for eSports teams?
Insurance is essential for protecting eSports teams from potential risks, including liability, property damage, cybersecurity threats, and more.
For additional details, explore our comprehensive resource titled “Commercial Insurance: A Complete Guide.”
Which insurance providers offer the best coverage for eSports teams?
Top insurance providers include Farmers, USAA, and State Farm, offering tailored coverage and competitive rates.
How to start a esports business?
To start an esports company: select a game category, identify a niche, build a realistic business model, register the business, devise a branding strategy, hire a skilled team, and plan for monetization. These steps form the foundation for a successful esports venture.
What specific insurance policies are essential for eSports teams?
eSports teams require various policies, such as general liability, property insurance, cybersecurity insurance, workers’ compensation, long-term disability, employment practices liability insurance, and directors and officers insurance.
To find out more, explore our guide titled “Commercial General Liability (CGL) Insurance: A Complete Guide.”
What is esports insurance?
Esports insurance is a specialized type of coverage designed to protect eSports teams, organizations, and event hosts against a range of risks specific to the esports industry, such as cyber attacks, property damage, and liability claims.
What does esports insurance coverage typically include?
Esports insurance coverage can vary widely but generally includes general liability, property insurance, cybersecurity insurance, workers’ compensation, and professional liability to safeguard against financial losses from lawsuits, cyber threats, and injuries.
How do coverage needs differ for eSports teams compared to traditional businesses?
eSports teams face unique risks, requiring specialized coverage for events, equipment, and potential cyber threats that traditional businesses may not encounter.
To learn more, explore our comprehensive resource on “What is Specialty Insurance?“
How can I find reliable esports insurance reviews?
Reliable esports insurance reviews can often be found on insurance comparison websites, forums dedicated to esports professionals, and by consulting with industry peers who have firsthand experience with purchasing and claiming esports insurance.
Which country has the best esports team?
The top five successful countries were the US, Brazil, Sweden, South Korea, and China. If you compare it with today’s data, China has become the number one, followed by the US, South Korea, Russia, and Denmark.
Shield your business from financial setbacks. Enter your ZIP code below to shop for cheap commercial insurance rates from top providers near you.
Which insurance companies in esports are recommended?
Several insurance companies now specialize in esports, offering tailored policies to meet the unique needs of the industry. It’s recommended to compare offerings from multiple providers online, considering their experience in esports, coverage options, and customer service reputation to choose the best fit for your needs.
Learn more by reading our guide on “How to Get Free Insurance Quotes Online.”
What is the most successful esport team?
Team Liquid is the all time highest-winning pro eSports teams worldwide. Team Liquid is a professional eSports team founded in the Netherlands in 2000. The team primarily plays in Dota 2 eSports tournaments, with its total prize money won throughout its existence adding up to more than 48 million U.S dollars.
What does MPL insurance cover?
No matter the size of your business, Travelers miscellaneous professional liability (MPL) provides coverage for economic damages for negligence in the performance of services where a reasonable standard of care is expected.
What is Esports business?
Simply put, at its core it is the business of managing and monetizing the competitive side of video gaming. This includes everything from organizing and hosting tournaments to managing professional teams and players, to creating and selling merchandise.
Access comprehensive insights in our “Best Business Insurance for Video Game Developers.”
What is gaming insurance?
Gaming system insurance is a specialized type of insurance plan designed to safeguard your gaming device against various perils.
Which country is no 1 in esports?
The United States was the leading eSports country worldwide according to the number of active eSports competition players.
How do esports teams make money?
Esports generates revenue through a variety of channels, ranging from sponsorships and advertising to ticket sales and merchandise. Some of the most significant revenue streams in esports include sponsorships. Esports teams and players often partner with sponsors to promote their products and services.
Delve into our evaluation of “How much do insurance agents make?“
Which game is king of esports?
Quite possibly esports most popular title League of Legends is a force to be reckoned with. Similar to CSGO, League of Legends has been around for a long time and is not going anywhere.
Why are esports teams losing money?
Once rising interest rates shifted investor priorities from growth to profitability, it became clear that the business of nearly every esports organization was unsustainable.
What discounts are available for business insurance, particularly for eSports teams?
Discounts vary, with companies like State Farm offering multi-policy discounts, low-mileage discounts, and other incentives for bundling services (For more information, read our “What is bundled plan?”).
What is the most watched esport?
League of Legends World Championship place at the top of Esports Charts’ viewership list. Not only that though, with a remarkable peak viewership of 6.4m.
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Chris Abrams
Licensed Insurance Agent
Chris is the founder of Abrams Insurance Solutions and Marcan Insurance, which provide personal financial analysis and planning services for families and small businesses across the U.S. His companies represent nearly 100 of the top-rated insurance companies. Chris has been a licensed insurance agent since 2009 and has active insurance licenses in all 50 U.S. states and D.C. Chris works tireles...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.