Your Ontario Business First
Hole In One Insurance
Hole in one insurance coverage makes it possible to award attention-getting prizes, such as brand new cars, or a large amount of cash if someone makes a hole in one during your golf event.
Hole in one insurance, which is a type of prize indemnification insurance, works just like any other kind of insurance policy, except that instead of insuring your property against damage, 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.
When you use hole in one insurance you pay a hole in one insurance provider a small fee – the premium – which 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 aces (gets a hole in one) on the designated target hole, your hole in one coverage kicks in, and your hole in one insurance provider will pay for the prize.