Hole-In-One Insurance Lines Up Coverage
Vacations for life, a brand new sports car, or a jumbo cash prize up to $1 million or more!
The thrilling chance to win one of these great prizes in a golf tournament is proven to grab attention, generate publicity, and increase participation. Companies continue to secure hole-in-one insurance as a way to add sizzle to their annual golf tournament, customer appreciation event, corporate outing, or fund-raising event. The big prize is a great way to ensure a large crowd, and it’s even better when someone else pays on your behalf!
Hole-in-one insurance is prize coverage for a specified hole in a specified tournament. Sponsors secure the coverage for the promotion event for a fraction of the prize amount, usually 2 percent to 4 percent of the prize value, and award a great prize to any player who sinks a hole-in-one. When that happens, companies such as SCA Promotions take the hit and pay on the sponsor’s behalf.
Take it to the next level of excitement
A hole-in-one should be rewarded, even if it isn’t on the grand prize hole! With hole-in-one prize packages, sponsors get more than just prize coverage for the designated hole. Ancillary prizes such as cruises, golf clubs, and cash are also awarded to any player acing any of the other par 3 holes during the tournament.
Most packages also include event signage such as tee signs and banners to help promote the sponsor and prize being offered. Sound expensive? Not really, packages for hole-in-one contests start as low as $500.
As a tournament or event organizer, you can make it more affordable by contacting local businesses such as auto dealers, restaurants, retailers, and banks to sponsor various levels of the tournament. This provides the organizer additional sponsorship revenue and in turn provides the sponsor a great deal of exposure in their local market.
Do hole-in-ones really happen?
Over the past 18 years, SCA, a provider in promotions prize coverage, has paid millions of dollars in hole-in-ones.
“It takes a lucky person to sink a shot; but when they do, sponsors need to be secure in the knowledge that the prize payout will be made,” Sheila Murphy, vice president of Sales for SCA, said. “SCA celebrates the wins with our clients. Our role is to pay the prize so the sponsor can enjoy the benefits of increased exposure and goodwill.”
Some of SCA’s most exciting wins have been in the past few years.
A Washington State Volvo dealership received invaluable community publicity when one lucky player hit a hole-in-one and won a $35,000 Volvo XC90 during their annual fund-raising event! The winner was one of 180 participants who tried to sink a 144-yard shot. The tournament generated plenty of goodwill for the dealership and benefited the local Boys & Girls Club.
The most memorable hole-in-one to date for SCA was at an annual corporate fund-raising tournament, “The Richest Day in Golf.” A $1,000,000 cash prize was on the line with 100 players shooting all 18 holes at 165 yards. To the sponsor and SCA’s surprise, the last player on the last hole of the entire tournament made the lucky shot and took home the million-dollar prize!
Quick and simple
Obtaining quotes for prize coverage is quick and simple. Here’s how it works:
• Select an attention-grabbing grand prize to draw participants.
• Identify the number of participants and yardage of the grand prize hole.
• Obtain prize coverage for the hole-in-one with a reliable underwriter. When someone sinks a shot, the underwriter pays and you reap the rewards.
So next time you’re looking for a great way to build client relationships, garner more interest in a fund-raiser, or motivate employees, turn to hole-in-one insurance. Everyone loves the chance to make an ace in the hole and win big!
Tanya Mathis is marketing manager for SCA Promotions. SCA Promotions (8300 Douglas Avenue, Suite 625, Dallas, Texas, 75225) has been covering hole-in-one promotions since 1986. For more information, visit: www.scapromotions.com or e-mail: info@scapromo.com.