Putting Contest Insurance (« back to glossary)
The 411 on Putting Contest Insurance
Used extensively by golf tournament organizers as well as corporate and special event sponsors, Putting Contest Insurancecan help you generate publicity, increase attendance, and add excitement to any special event, indoors or out. Following is a quick review of how Putting Contest Insuranceworks and why you should consider using Putting Contest Insuranceat your next special event.
What Is Putting Contest Insurance?
Putting Contest Insuranceis a fast and easy way add the excitement and allure of a giant prize to your next putting contest. For example, you can offer the chance to win a brand new car or even, a million dollars, to any one who can win your putting contest for a fraction of the cost of the actual prize. Just as with any kind of insurance, with Putting Contest Insuranceyou pay a small premium to an insurance company, such as Hole in One International, in order to “insure” your putting contest and if a lucky contestant wins the contest, your Putting Contest Insurancepolicy kicks in and the insurance company pays for the prize.
Choosing the Right Putting Contest Insurance
Selecting the right Putting Contest Insuranceto suit your needs depends upon when, where and how you plan to conduct your putting contest. For example, depending upon your budget, you may choose to go with the single putt contest, particularly if you have time to gather your contest participants together to witness the excitement. A three-putt combo contest works best if you have shotgun start at your golf event or if you want to involve more participants.
Putting Contest Insurance: The Premium
Just as with any kind of insurance, with Putting Contest Insuranceyou must pay a small premium to an insurance company, such as Hole in One International, in order to “insure” your contest. Your Putting Contest Insurancepremium will be based upon three things: the number of finalists (single putt) or the number of participants (combo putt) you expect to have; the length of the grand prize putt (the greater the distance, the more affordable your putting contest will be); and the cash value of the prize you are offering.
How Putting Contest InsuranceWorks: The Single Putt?
To run a single putt contest using putting contest insurance, you will give a select number of finalists the chance to one putt for all the dough. First you will qualify 1-5 lucky contestants to participate by having a putt-off, closest to the hole contest, or a fundraising raffle. You will then set up a 50-foot or longer putt, and watch your finalists try to sink a single putt in order to win the prize, which will be paid for by the Putting Contest Insurancecompany.
How Putting Contest InsuranceWorks: The Combination Putt?
This contest will give everybody in your tournament the chance to win. For example: Make a 10 footer, win a sleeve of balls (provided by a sponsor). Move on and make a 30 footer, win a golf shirt (once again, provided by a sponsor). If anyone can then sink a 50 foot or longer putt they will win the grand prize and the Putting Contest Insurancecompany will pay for the prize.
Why Use Putting Contest Insurance?
While golf tournament organizers typically turn to company's such as Hole in One International for putting contest insurance, when they want to generate increased participation (and generate additional funds) at their golf event, golf events are not the only location where putting contest insurance is used. In fact, you can hold a putting contest just about anywhere.
Other Things To Know about Putting Contest Insurance
In addition to selling instant putting greens for putting contests which are not taking place at a golf course, some Putting Contest Insuranceproviders, such as Hole In One International, include a free putting contest sign which announces the putting contest sponsor as well as the prize.