Closest to the Pin Coverage?
From time to time we have customers call us up inquiring about hole in one insurance and then ask whether we also offer coverage for closest to the pin prizes. When we inform them that, yes we do offer hole in one coverage but do not cover closest to the pin or longest drive prizes, they often times are confused. Today, we explain why.
The simple answer is that with hole in one insurance, we are covering the possibility of a hole in one occurring. There is no guarantee that a golfer is going to hit a hole in one at your event, so we can offer coverage that is much less expensive than the prize itself. The concept is quite similar to car insurance. There is no guarantee that you are going to total your brand new car so your car insurance rates are much less expensive than the cost of a new automobile.
Now, for closest to the pin prizes, the story is entirely different. Inherent in the contest is the reality that someone at your event is going to be closest to the pin with their tee shot. As every golfer is making an attempt by hitting their tee shot, there will inevitably be someone who is 'closest' to the pin. Consequently, it is guaranteed that someone will win your closest to the pin prize. This guaranteed giveaway is the reason nobody sells closest to the pin coverage. If your closest to the pin prize is a $100 gift certificate, we would charge you over $100 to cover the prize because we know for a fact that it is going to be awarded.
One exception to this idea is the existence of closest to the pin ring coverage. For these types of contests, you only offer a prize if the golfers are able to hit their tee shots into a 3 foot circle around the pin. If they successfully get their ball this close to the hole, then they win the prize. For these types of contests, we can certainly provide coverage for you as there is no guarantee that someone will hit it to within 3 feet.
If you have questions about hole in one insurance or closest to the pin prize coverage, please call us up and let us know!
The simple answer is that with hole in one insurance, we are covering the possibility of a hole in one occurring. There is no guarantee that a golfer is going to hit a hole in one at your event, so we can offer coverage that is much less expensive than the prize itself. The concept is quite similar to car insurance. There is no guarantee that you are going to total your brand new car so your car insurance rates are much less expensive than the cost of a new automobile.
Now, for closest to the pin prizes, the story is entirely different. Inherent in the contest is the reality that someone at your event is going to be closest to the pin with their tee shot. As every golfer is making an attempt by hitting their tee shot, there will inevitably be someone who is 'closest' to the pin. Consequently, it is guaranteed that someone will win your closest to the pin prize. This guaranteed giveaway is the reason nobody sells closest to the pin coverage. If your closest to the pin prize is a $100 gift certificate, we would charge you over $100 to cover the prize because we know for a fact that it is going to be awarded.
One exception to this idea is the existence of closest to the pin ring coverage. For these types of contests, you only offer a prize if the golfers are able to hit their tee shots into a 3 foot circle around the pin. If they successfully get their ball this close to the hole, then they win the prize. For these types of contests, we can certainly provide coverage for you as there is no guarantee that someone will hit it to within 3 feet.
If you have questions about hole in one insurance or closest to the pin prize coverage, please call us up and let us know!
posted by US Hole In One at
4/03/2008 11:02:00 AM
<< Home