Hole In One Coverage
Ready for the 411 on Hole In One Insurance Coverage? If you’ve never heard of hole in one insurance coverage, you’re not alone. Hole in one coverage gives golf tournament organizers and sponsors the ability to offer a giant prize to any player making a hole in one during a golf tournament for just a fraction of the actual cost of the prize. Following is an in-depth review of why and when tournament organizers use hole in one coverage and how hole in one insurance coverage works.
What is Hole In One Insurance Coverage?
Hole in one coverage is a special kind of insurance policy known formally as prize indemnification insurance. To put it simply, hole in one insurance is an insurance policy that kicks in if someone makes a hole in one during your golf event.
Why Use Hole In One Coverage?
There are many benefits to using hole in one coverage. For tournament organizers hole in one insurance coverage gives you the ability to offer a giant prize to lure more attendees to your tournament. For example, with Hole in One International’s hole in one coverage, you can offer up to a million dollar prize if someone makes a hole in one during your golf event without worrying about having to pay for the prize. Golf tournament sponsors love hole in one insurance because it gives them increased visibility at a golf event because they can give anyone who aces a particular hole the chance to take home a prize. In fact, many auto dealers like to use hole in one coverage during the golf season. They will typically sponsor holes at several golf tournaments “giving away” large discounts, leases, or even free cars to anyone who can make an ace on their sponsored hole.
How Does Hole In One Coverage Work?
Just as with any kind of insurance coverage, with hole in one insurance coverage, you must pay a small premium to an insurance company such as Hole in One International, in order to “insure” a hole. Your premium is based on three things: the number of players participating in the tournament; the length, in yards, of the hole that is being covered by the hole in one insurance; and finally, the dollar value of the prize which is being insured. Once the hole in one insurance policy is bound, if a player aces an insured hole(s) during the tournament, the hole in one coverage kicks in and Hole in One International pays for the prize.
Other Things To Know about Hole In One Coverage
In addition to offering coverage on the insured hole, when you purchase hole in one insurance from Hole In One International, you will also receive complimentary signage as well as prizes for non-target par three holes and even a free tee prize for every golfer.