Sport All Sports

Golf is one of the fastest growing sports – and for good reason – it combines relaxation, challenge and fitness all in one, not to forget the pleasure of the 19th hole. Its no shock that more companies are looking for more info on hole-in-1-insurance.

Have you ever been curious as to how golf tournament organizers can afford to give away cars and cash prizes? They have 2 options: sponsorship through advertising or golf insurance.

Big grand prizes are always an attraction, however, for charity tournament organizers, they simply cant afford to offer a significant prize without jeopardizing the tournament. So, lets look at their options.

Sponsors are difficult to come by as not many companies wish to risk their money on the chance that someone will collect. So while the opportunity to advertise can bring untold benefits and visibility for a company, the risk sometimes can be too much. However, what many advertisers do is buy “hole in one” insurance.

Its really no different than taking out house insurance. The insurance company determines the risk of a particular outcome, and charge an appropriate premium, which will cover the cost of the prize. These rates of course are a better alternative than having to potentially purchase a car, or sign a cheque for a large amount of cash.

So think about it as you tee off at your next charity golf tournament.