Prize Insurance in Sydney
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What Is Prize Insurance in Sydney?
Also known as Hole-in-One insurance, prize insurance in Sydney
makes it possible for organisations, whether they’re companies or charities, to hold promotional events without having to take any financial risks. Essentially, if somebody wins an expensive award, such as a vacation, car or significant cash payout, you won’t be liable to cover the cost of the prize if you have the right indemnity insurance. Learn more about the benefits of this cover below and how we can help you.
Problems Prize Indemnity Insurance in Sydney Addresses
If you take out prize indemnity cover, you won’t need to worry about any of the following issues:
- Losing money when you’re trying to raise it: If you’re holding a charity event, you might want to attract guests by holding competitions. The larger the reward on offer, the more visitors you’ll attract and the more money you’ll raise for your charity. However, if somebody wins an expensive prize despite having a low probability, you could end up losing money – unless you have prize insurance.
- Financially crippling your company: Many companies hold competitions for employees or guests to raise money for charity, boost their profile and prove they care about helping the community. Again, if you don’t want to risk losing money in the unlikely event that somebody wins a prize worth thousands of dollars, you need to discuss insurance options with a reputable broker.
- Not being able to attract participants: If you’re scared of losing cash as a result of having to pay for an expensive award, you might be tempted to offer small prizes, which may fail to entice guests to your event. For as little as $388, you can make sure you won’t be financially liable to cover the cost of prizes worth up to $10,000. Call us to learn more about your insurance options.
Tips for Getting More Value out of Prize Indemnity Insurance in Sydney
Here’s how you can extract the maximum benefit from Hole-in-One insurance:
- Hire a professional to carry out a risk assessment: You need to know what the chances are of somebody winning an expensive prize that could harm your organisation financially. As an insurance broker and NOT an insurance company, we can perform risk assessments to help you determine how much cover you require.
- Discuss your needs with a broker: Often, brokers work independently, meaning they represent their clients’ best interests rather than those of an insurance company. Consequently, you can feel confident that your broker will work to secure the best-value cover for your prize or event.
- Work with an experienced professional: Some examples of activities for which you might require prize insurance include AFL football kicks, baseball throws, archery shots, basketball shootouts, soccer kicks and more. Therefore, you need somebody who boasts a wealth of experience so that they can determine which insurance premium is right for you.
Why Trust OzPrize & Weather Insurance Specialists Regarding Prize Indemnity Insurance in Sydney
Our managing director, Ken Killen, has over 33 years of experience in the insurance industry, meaning you can feel confident you’re in safe hands when you choose OzPrize & Weather Insurance Specialists. For competitive pricing, unbiased advice and exceptional customer service, contact our professionals today.
Experience
With 33 years of industry experience, you can rest assured OzPrize and Weather Insurance will offer a professional and efficient service.
Licenced
We are fully licenced and insured to carry out services for our valued clients. You can have the peace of mind you’re always protected with OzPrize and Weather Insurance.
Tailored Service
We’ll collaborate with you to ensure our services are tailored to suit your specific needs. We commit to providing a unique experience for every client.
