Monday, April 30, 2012
Making sure the correct witness requirements are met for a hole in one insurance, putting, and shootout contest is extremely important in order to guarantee a payout in the case of a winner. For the three contests, the requirements will be different, some more intense than other due to a high element of risk involved with the hole in one insurance. For full witness requirements you should be sure you are familiar with the terms and conditions for the contest you are running. Here is a breakdown of the different witness requirements for the contests offered by US Hole In One.
Hole in one insurance policy: The requirements for the hole in one insurance policy are probably the most confusing for clients to understand. The requirements are broken down based on the prize value you are insuring. Any prize under $60,000 only requires one person who is over the age of 18 and not playing in the tournament to sit at the prize hole the entire time of the tournament. For those prize values from $60,000-$99,999, two people are required to act as witnesses with the same restrictions as above. The bonus prizes do not need a designated witness sitting at the hole for the entire tournament as long as the tournament will be played in threesomes or foursomes. No video is required for hole in one polices unless the value is $100,000 or above or is the tournament has less than 25 player and a prize value of $25,000 or greater.
Putting Insurance policy: US Hole in One can insure putting contests up to $25,000 dollars. For all putting contests videotape is required, this involves the measuring of the putt as well as the person(s) taking the putt. For those values $10,000 and under just one additional person over the age of 18 is required and anything above $10,000 will need two additional witnesses.
Shootout Insurance policy: Like the putting application any shootout contest has to be videotaped. Most shootout contests involve a value of $100,000 or greater, due to this high value in addition to the videotape two witnesses must be present, one has to be a PGA professional or an active police officer. For more questions on any of the witness requirements contact your tournament consultant.