Thursday, August 20, 2009

Kerrzy's Notebook: Protecting your (fantasy) Investments

Well, it's that time of year again: football fans across the world are scouring the internet for information, analyzing mock drafts and thinking long and hard about who they should choose to fill their fantasy football roster for the upcoming season.

It's a tricky game to play and no matter how much time and money you put into making your team the best, there are always risks you just can't avoid - like injuries.

For example, if you happen to be one of the many people who picked New England Patriots star quarterback (and reigning league MVP at the time) Tom Brady last season, you know those risks first hand - but help is on the way, my friends!

Enter: Fantasy Sports Insurance.

FSI is the brainchild of two Long Island brokers, Anthony Giaccone and Henry Olszewski, born when Olszewski (who picked Brady last year) jokingly lamented the fact that no one offers insurance for fantasy owners.

That's right, starting this year you can actually take out disability insurance on your "fantasy investment!"

Here's how it works:

First, you go to the website and choose one of their three coverage options - you can either cover one key player in the case of him missing 10 of the first 15 regular season games, or eight of the first 12 regular season games, due to injury. Or, you can choose to cover three players in the case of them missing a combined total of 18 of the first 15 regular season games due to injury.

Before the first week of the season, you go to the website and pick the player or players you'd like to insure from their list of the top 50 fantasy players in the NFL.

Next, enter the league entry fee (up to $1,000), transaction fees and money spent on things like magazines and online subscriptions (both up to $200) - and FSI will then determine the cost of your policy!

So, there's now a way to cover your fantasy butt in the case of a marquee player going down with a serious injury - and lets not forget, too, that it's a long season and you can obviously still recover a potentially lost campaign with some good luck and some good moves.

As of right now FSI only covers football, but according to their website, they're looking into expanding this service to baseball, basketball and even hockey for the upcoming season!

Just when you thought you'd heard it all, eh?

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