Hole-in-one insurance cover can be a real asset for those offering hole-in-one competitions at club, corporate or charity golf days. These contests have become hugely popular in recent times, following the relaxation of rules governing the earning of amateurs. They not only capture the imagination of the crowd, but also help create news headlines, thanks to attractive prizes, the marketing conducted by corporate sponsors and the fact that someone has demonstrated a great degree of skill in achieving an unexpected, though not impossible, feat.
For this reason, golf clubs are often under pressure to arrange such contests. At the same time, most do not wish to take on the risk of having to pay for a prize. In this instance, hole-in-one insurance is hugely attractive.
Whether you wish to offer a cash prize, a car, a holiday, or something else, this insurance will automatically reinstate any prize won by a player who achieves a hole in one. The premium you pay for the insurance depends on:
- The value of the prize
- The distance from tee to hole
- The number of players participating in the ‘contest’
If you buy this cover, you can have:
- Both men’s and ladies tees in operation on the hole-in-one hole
- Optional prizes on up to five other par 3 holes (the ‘hole-in-one’ hole cannot be less than a par 3 hole
- Flexible pin placement on the chosen tee (so that, if you stage such contests regularly, certain parts of the green do not become over-worn)
All you need to do is follow certain rules, which relate to having witnesses in place to confirm the achievement of the hole-in-one, ensuring that contestants are in teams of three or four players, and that designated distances, between tee and hole, are followed.
With the ability to offer a prize of up to £50,000 in value, this is an excellent insurance policy for those who would be fearful of the financial implications of having to hand over a prize that they had advertised as being available, but did not expect anyone to win.
Contact Gauntlet Golf on 0113 244 8686 / email@example.com to find out more about covering your hole-in-one contests through insurance.