While promotions and competitions are a fantastic way to engage with your audience, create buzz, and boost your brand's visibility, it is important that you consider the financial risks involved in offering such large prizes.
Prize insurance acts as a safety net, shielding you from a range of unexpected costs associated with your promotion or competition, allowing you to offer significant prizes without bearing the full financial risk.
What is Prize Insurance?
Prize insurance provides protection against the risk of offering large prizes in promotions and competitions. By paying a premium, you can ensure that if a participant wins the prize, the insurance provider covers the payout. This allows you to run high-value promotions on a limited budget without the fear of significant financial loss if the prize is won.
Prize Insurance offers a unique opportunity for those wanting to offer large, attractive prizes like cash, cars, boats, or even mortgage payments. The insurance provider assumes the risk of the prize being won, which means you only need to pay a small, fixed premium to potentially offer a life-changing reward to your participants.
This type of insurance enables businesses to maximise their promotional impact without exceeding their budget. Whether you want to create excitement with a substantial prize or draw attention with a unique offer, prize insurance can help make that possible.
Our Prize Insurance arrangement is backed by the security of Lloyd’s, a leading global insurance market and can be tailored to meet your specific needs and budget.
Contact Us
Looking for more information or to arrange Prize Insurance for your upcoming promotion or competition? You can reach our team on 1800 986 445 and we will gladly assist.
Alternatively, simply fill out the contact form below and one of our insurance brokers will be in touch within 1 business day to discuss.
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