The Cost of Sports
The cost of running an organization isn’t cheap – from paid staff to equipment, field maintenance, travel, camps, and much more. Managing the budget to cover these costs becomes even more difficult when players unexpectedly drop out and request refunds.
According to a 2019 study, families spend an average of $693 annually for one child to participate in sports. High costs and difficult refund policies can lead to a bad experience for both the organization administrator and the parent when unforeseen circumstances render a player unable to participate in the season. Administrators have the time-consuming task of issuing refunds, and the budget takes hits you may not have predicted. If your organization has a no-refund policy to protect itself from these financial losses, you are left with an unhappy parent that might not return next season.
If unforeseen circumstances take a player out for the season, parents often expect to recoup their registration fee. The financial burden associated with processing a refund – the cost of the season, refund fees, and bank chargebacks – can all count against your budget. But now, refunds can be issued without impacting your bottom line!
The Solution: Registration Insurance
With Sports Connect, your parents/players can opt into registration insurance through our partner, SecureFee™.
Registration insurance comes at zero cost to your league, meaning you are not responsible for any refunds and do not lose what has already been paid. This helps to protect your budget from unexpected losses while also creating the best experience for your members. Additionally, with a team of licensed insurers to handle all claims, your valuable time is freed up to complete other critical tasks involved in running your organization.
This feature will be automatically enabled for all qualifying programs. No action is required by a league administrator during registration set-up. During player registration, registering users will see the insurance premium amount and will be given the option to either purchase or waive the coverage. Covered and not covered reasons for reimbursement are outlined here.
With registration insurance, you can keep your existing refund policy and keep your members happy! If you have any questions about how this impacts your organization’s policies, check out the registration insurance FAQ page or reach out to our support team.