How Is Hole In One Insurance Priced?
A frequently asked question here at Foresite Sports is whether a customer may purchase hole in one insurance for a contest taking place on a par 4 hole. While this is certainly a feasible idea, there are some conditions that tournament organizers should keep in mind when planning the logistics of their contests.
The most common use of hole in one insurance on a par 4 hole is for what is known as a shootout. A shootout is a hole in one contest that does not take place during the normal course of play, but rather takes place before or after your golfers have completed their rounds. A perfect example would be the $1,000,000 shootout that Foresite frequently secures coverage for. In this type of contest, coverage is purchased for only one, or sometimes two, golfers to take a shot at a million dollar prize. The golfer is set up 165 yards from the hole and has a single chance to make a hole in one for the grand prize. A popular set up for this contest is to have it take place on the 18th hole so that golfers who have finished their rounds can view the excitement from the clubhouse, however, many finishing holes are not par threes, so what is a event planner to do? The answer is the hole in one contest on a par 4 hole. Golfers are simply sent out to the 165 yard marker from the middle of the fairway where they may take their shot at an ace. The hole in one insurance stipulates that the golfer may even tee it up from the fairway for their shot, making it an even easier attempt at the mega prize.
So, should you think that a par 4 hole would make for a perfect hole in one contest venue, don't despair, we can certainly secure coverage for your event. If you have any further questions, don't hesistate to contact us and speak to one of our knowledgable tournament consultants.