Golf promotion insurance is an important purchase when you are planning on hosting a golfing event. Since golf tournaments are such popular venues for charity and corporate events, many insurers offer suitable insurance coverage at reasonable prices.
Protect Your Assets
Any event sponsored by your company or organization needs to be adequately covered with an insurance policy. There is no limit to the things that may go wrong, and this makes you vulnerable to lawsuits from:
- Paid employees
- Golf course owners
Lawsuits aren't limited to instances of someone getting hurt while participating in the golf event, although this is a viable threat. Participants might file a lawsuit if they feel as though the game wasn't completely fair, or if they feel as though the prizes were not just as they were represented in the advertisements.
Anyone who feels as though they were victim to harassment or discrimination while involved in the golf promotion might also feel justified in filing a lawsuit. With so many possibilities for mishaps, it is a wise decision to purchase adequate insurance coverage for your golf event.
Find Golf Promotion Insurance Online
If your current insurance company does not offer temporary insurance for events then you may want to visit the Internet and compare the various offerings available there. Here is a brief listing of companies offering insurance policies suitable for golf events:
- Odds On Promotions offers Rain Out Insurance, which protects the money you put into your event if rain forces you to postpone or cancel.
- Praetorian underwrites insurance policies specific to putting contests.
- SCA Promotions offers online rate quotes for golf promotion insurance, or applicants can request information over the phone.
There are many other insurance companies offering this type of promotional insurance.
Choose the Best Coverage
Although you want to be mindful of the costs associated with insurance coverage, this should not be the sole deciding factor for which company you choose. You also need to take into account the coverage you will receive. If you don't buy adequate coverage then you will be out of luck if you need to make a claim.
It is far preferable to pay a little extra money in order to receive coverage that will actually cover you instead of buying insurance from the lowest bidder and then finding yourself in trouble when your policy does not sufficiently protect you or your organization.
Offer and Insure Amazing Prizes
Golfers are attracted to tournaments that offer amazing prizes, even if the prizes are only for people who attain the highly sought after hole-in-one. Even though it's not easy to score a hole-in-one, many golf players will sign up for a tournament that offers a motorcycle, a vacation, or a huge cash prize for scoring a hole-in-one.
Tournament organizers do not necessarily have to purchase these prizes beforehand as long as they do have the means to actually give a player the prize if the hole-in-one is accomplished. Instead of putting the funds aside to buy the prize, golf promotion insurance can cover the cost in the unlikely event that the hole-in-one happens during the tournament. The event hosts purchase the insurance policy, and the insurer supplies the funds for the prize if needed. The policies are relatively inexpensive since they are rarely cashed in, and the lure of a fabulous prize may increase the number of participants who sign up for the golf promotion.
Hole-in-one insurance can be purchased from companies such as Hole in One International and other insurers. Most companies allow policies to be purchased online.
Some golf courses supply an insurance policy to organizations hosting promotions, but be sure to review the policy thoroughly to see if you should purchase additional coverage to make sure you are covered for every possible situation. Event insurance is not incredibly expensive, so there really is no reason why you shouldn't obtain a policy.