Friday, November 19, 2010
As funny as it may sound, one of the most popular questions that our tournament consultants get asked is, “what is hole in one insurance?” Hole In One insurance is simply contest coverage between the tournament director and a coverage provider, such as US Hole In One. The agreement will assume the risk in the event that one of your golfers hits a hole in one during your golf tournament.
Let’s say you are running a golf tournament and you would like to put a car on one of the par-three holes so that if one of the golfers in the tournament hits a hole in one they win the car. The next step would be to figure out what type of car you would like to offer as the prize and if you want to have it at the course that day. US Hole In One strictly covers the value of the prize so it would be up to you to have a local car dealer in your area bring the car to the course. Most car dealers are familiar with hole in one insurance and are very willing to do so! All you would need to find out is the value of the car.
Once you have the value of the car, you will just need the yardage of the par-3 hole that you are going to put the car on and the number of golfers you are expecting in the tournament. When are you getting the yardage of the par-3 hole make sure you ask the golf course pro if they have a signature par-3 hole that they use for hole in one contests. Most courses do and usually the hole will have an area where the car can be driven to.
Just remember when you are ready to purchase your hole in one insurance policy you will need to know the number of golfers in the tournament, the value of the prize and the yardage of the par-3 hole. Once you provide that information to one of our tournament consultants they will quickly calculate your price quote and email you the prize coverage application packet. If you have any other questions about hole in one insurance do not hesitate to give us a call!