It’s scary to think what the world will be like without prize insurance. Without insurance, lucky contest winners would walk away with their thousand or even million dollar prize (which is a good thing of course). But companies would be in debt and forced to close as a result of it. Contests would be considered a huge risk which would make companies decrease the number of promotions and contests they do per year (that’s no fun). Halftime at sporting events will be very boring. The list goes on…
If you are contemplating whether you should buy prize insurance, or pay for the possible outcome, we believe we can sway your decision. Take a look at some scenarios below to see how much your event can cost with and without prize insurance.
Baseball – Target Toss
6” target toss, 2 contestants
Without Insurance: $15,000
With Insurance: $473
With our baseball Target Toss promotion, you can offer your fans the chance to test their speed, accuracy, and ability to become a winner. They’ll have the opportunity to showcase their throwing skills by pitching a baseball through a target to win a grand prize. In this example, the prize is $15,000. You have challenged your fans to win, but if they do, you will be challenged to pay for the prize. With Interactive Promotions prize insurance, you can pay a fraction of the cost and not feel guilty about your fan winning.
Dice Roll Contest
5 dice, 150 attempts
Without Insurance: $10,000
With Insurance: $580
Who knew holding a game with 5 dice could cost so much without insurance! The more dice you incorporate into your promotion, the more challenging it becomes. If a participant can roll the winning set, they W-I-N! Just make sure your $10,000 prize is covered so that you and your contestant can be winners!
To see the benefits of having prize insurance and more of our contest options, visit our website at https://www.interactivepromotions.com/.