When you purchase our contest insurance coverage, you are indemnified from all of the risks that may arise as the result of offering prizes for a hole in one contest. When you use National Hole in One as your coverage provider, we take responsibility by covering the costs of the prizes.
Here is an example of how it may work, let us say that XY&Z Association is sponsoring a golf charity tournament with roughly 100 golfers attending. The XY&Z Association and their partners have decided to ‘add-on’ a promotional Hole in One Contest to hole 3, which is a Par 3 measuring about 161 yards. This means any contestant who is successful in making a hole-in-one on hole 3 will win $10,000 cash as a prize. Before the event, XY&Z purchased a National Hole In One contest coverage package for $262. When John Carter and Jane Porter both make a hole-in-one on hole 3 during the event, they are both awarded checks for $10,000. Because the XY&Z Association purchased National Hole in One Prize Insurance, NHIO writes the $10,000 checks, leaving the total out-of-pocket cost for the XY&Z Association at only $262.