Prize Indemnity Cover For Hole In One Competitions
Prize Indemnity Insurance Covering The Insured Against The Cost Of Awarding A Prize If A Participant Successfully Hits A Hole In One
Whether part of a tournament, or an event in its own right a Hole In One challenge is a great way to spice up a competition!
While the odds of making a hole in one may be quite low, there is always a chance that one of the more experienced golfers may just do it. If you are having a Hole in One competition at your golf tournament or event, you may want to consider Prize Indemnity insurance. This will cover the insured against the cost of awarding a prize, just incase one of your golfers manages it.
You also have the opportunity to include ‘re-instatement’ in your policy, which provides cover for the prize to be re-instated if someone wins it, offering the other participants the chance to still win. The re-instated prize can only be won once.
In accordance with policy terms and conditions, the winning hole in one must be witnessed by a pre-disclosed adjudicator and for prize values of £25,000 or above the hole will need to be video-taped. The winner must be a registered competitor in the competition in order to qualify for the prize and their original scorecard and tournament pairing sheet must be presented for verification. Tour professionals are excluded.
The adjudicator must be employed in one of the following professions:
- Bank Manager
- Police Officer
- Qualified Accountant
- Company Director
- Justice of the Peace
- Golf Pro
This specialised policy will leave you feeling relaxed during the competition, safe in the knowledge that any prizes won will be reimbursed to you by Events Insurance Services, up to the sum insured.
Our Prize Indemnity for Hole In One competitions have premiums starting from as little as £232 to cover up to 150 players, and a prize value of up to £5,000.
Prize Indemnity event insurance cover options can include:
- Prize Indemnity
- Re-instatement options