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The Importance Of Hole In One Insurance

If you are a fan of playing golf and you want to host a golf tournament, you should know that in order to get possible players, there should be prizes. Not just an ordinary golf tournament prizes, but it should be something that cannot be bought every day, like a trip to Paris, a brand new car or anything that will surely get the attention of the players so that they will be determined to win the tournament.

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Hosting a golf tournament and having those mentioned prizes, there is no doubt that you will surely need a big amount of money in order to make your golf tournament a success. You can ask some of your friends who are passionate or who loves golf to help you make a golf tournament, you can have them as your golf sponsors, but if the budget isn’t still enough to have those mentioned prizes, then you can just apply for a ‘Hole In One Insurance’ to have those prizes.

You can greatly benefit from Hole in one insurance, because it is a kind of product that offers protection financially to the sponsors of the golf tournament who offers prizes to the winners of the golf tournament. The Hole In One Insurance is a kind of prize indemnification insurance where they offer big prizes like a new car or a vacation in Hawaii to the participants of the golf tournament who can make a hole in one.

The advantage of Hole In One Insurance is that if you do not want to pay for the prizes because it seems expensive or will take a big amount of money from you, with the use of the Hole In One Insurance they will be the one to solve the problem and the only thing that you are going to do is to pay their insurance premium instead. The premium is already a fixed price which is better compared to paying for the uncertain amount of the prizes.

How does the insurance premium works?

The premium depends on the number of the participants and how far the distance is. The number of participants joining in the golf tournament can affect the prizes, the more participants, the more valuable the prize is, while in the distance, if the starting point is not far in the hole, the premium will be expensive. Which means that the less participants joining, the price value is low and the longer the distance from the starting point to the hole means you will pay a small amount for the premium.

How much does Hole In One Insurance costs?

In order to calculate the price of your hole in one prize package, the following information is needed:

1. The number of players that will be participating in your golf tournament.
2. The distance from the starting point to the Target Par 3 Hole.
3. The value of your hole in just one prize.

Have those three pieces of information, you can know the prize package of your hole in one insurance.