How Does Hole in One Insurance Work?
At BEST Hole in One®, we provide hole in one insurance and other contest insurance, making it easy and affordable for you to add an exciting contest with attractive prizes to your corporate event or fundraiser.
Hole in one insurance coverage allows you to offer prizes or cash at your golf outing if someone makes a hole in one. By securing hole in one contest insurance with Best-Hole-in-One, we assume the risk associated with that prize or cash in return for a modest fee.
Hole in one insurance works just like any other kind of insurance in that you are paying a premium to eliminate the risk of having to pay for a prize if someone makes a hole in one during your golf event.
The premium you pay is based on the number of people playing in your golf tournament, the value of the prize you’d like to give away, and the length of the golf shot (target hole) you want to insure. If someone gets a hole in one on the designated target hole, your hole in one coverage kicks in, and Best-Hole-in-One pays for the prize.
Here’s an example – ABC Company is holding its annual golf outing with 100 golfers. They decide to hold a hole in one contest on #7, a hole that measures 175 yards. Any golfer who successfully makes a hole in one on #7 will be awarded $10,000. Prior to the event, ABC Company purchased a contest coverage package from Best-Hole-in-One for $200. If 2 players make a hole in one at #7 during the event, they are both awarded checks for $10,000. Because ABC Company purchased hole in one coverage, Best-Hole-in-One writes the $10,000 checks and the total out-of-pocket cost to ABC Company is only $200.
When you purchase hole in one protection through BEST Hole in One, you get peace of mind plus so much more — complimentary signage, FREE bonus prizes, and our personal and professional attention to all the details.
Make your event the BEST it can be with BEST Hole In One®!