gloved hand flicking a golf ball into the hole

The Importance of Hole-in-One Insurance

Contests can be an exciting way to generate excitement for your golf tournament. A popular challenge that lures thrill-seekers is the hole-in-one contest: make an ace and someone can win fabulous prizes. While this contest can be a thrilling game of chance, it also has its costs. For instance, if someone actually wins, your business could lose big. That’s where hole-in-one insurance proves its worth.

Hole-in-one insurance allows you to pay a premium instead of footing the entire cost for a contest prize. Let’s say you offer $10,000.00 as a hole-in-one challenge to get more golfers to play in your charity event. If someone meets the challenge and you aren’t covered, then you have already lost a lot of money. Essentially, the revenue you could have gained from the increased turnout is going into another person’s pocket.

With hole-in-one insurance, you have the flexibility to have an exciting game of chance and significantly reduce the risk of loss. The insurer will pay the prize, protecting your revenue flow in the process. Companies like ours that offer this insurance can also do more to promote your event by providing signs as well as auxiliary prizes for the other par 3 holes where a hole-in-one might be made.

Hole-in-one insurance sets your charity tournament apart from just another round of golf people could play by themselves and thus provides more exposure without burning a hole in your pocketbook. Contact us today to learn more about your options.