DALLAS (CBSDFW.COM) – Millions of Americans of all ages are currently involved in the Fantasy Football craze – a game that lets you test your skills as a pretend NFL-type team owner using statistics of real NFL players.

In Fantasy football you join a league (usually with friends or co-workers), you scout for and draft players, compete against other fantasy owners, and use all your skills – including picking-up and releasing, or even trading players, to win the championship.

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It’s a game where participants can compete locally and nationally for simple bragging rights or even thousands of dollars in cash and prizes.

Fantasy football has also become a big business. It is reported that the fantasy sports industry is worth approximately $1.2 billion, according to IBISWorld, as more than 270 businesses make money off the “fantasy teams”.

One of those businesses is now looking to provide Fantasy “insurance” to protect your fantasy investment.

“We came up with the idea in 2008 when Tom Brady was injured in the first game of the season” says Henry Olszewsky, a vice-president of Intermarket Insurance who runs the website FantasySportsInsurance.com.

The injury to the Patriots QB in real life “put a hurt'” on several Fantasy teams according to Olszewsky. “It got me thinking about a product that fantasy players could use to protect themselves in a similar manner that real franchise owners use to financially protect themselves against these types of injuries.”

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According to the website, for a fee of 10% of the costs of entering a league (average $50-100 per sport, per year), FantasySportsInsurance.com insures a roster’s top players. Injured players or those with a high risk of getting injured aren’t available for insurance.

Insuring players “adds another level to the game” says Olszewsky. “If you lose a key player it could be detrimental – it could diminish your chances of being competitive.”

With a recent study showing the average fantasy sports player spends $467 per year playing in an average of six leagues from various sports – do you think it’s worth a few more bucks to back up your investment?

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