Hole In One Insurance Company Writes Million Dollar Checks

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Mark Gilmartin, CEO of hole in one insurance provider Hole In One International, explains how million dollar hole in one prize insurance works.

That way, when it comes time to hand over the million-dollar check, you'll be able to focus on your winner and the media, instead of worrying about if the insurance company can pay for the prize.

Anyone who has watched TV or surfed the internet during the past few days, is likely to have seen or heard about an extraordinary golf video that's gone viral. In what is now known as "the shot heard 'round the world", a Utah man playing in a charity golf tournament wins a million dollars after making a hole in one. While the acemaker, tournament organizer, contest sponsor and others rush the hole in celebration, there's one party behind the scenes that's getting ready to write a very big checkā€¦ the hole in one insurance provider.

For those who've never heard of it, hole in one insurance gives golf tournament organizers the ability to offer head-turning, larger-than-life prizes, without the risk of a payout. Mark Gilmartin, president and CEO of Hole In One International, the nation's largest hole in one insurance provider explains, "Rather than taking the risk of writing a $10,000, $25,000 or yes, $1,000,000 check for the prize, a hole in one contest sponsor purchases a hole in one insurance policy. It works a lot like any other insurance coverage. Our clients pay a small fee - the premium, based on the number of participants in the tournament, the length of the target hole and the value of the prize; and if a golfer aces the designated hole, we step in and pay for the prize. Bottom line, it's an affordable way for golf tournament planners to make their event more attractive to golfers. Who wouldn't love the chance to win a million bucks?"

While Gilmartin points out that most hole in one insurance companies offer free contest signage, auxiliary prizes and competitive pricing, the most important part of selecting a hole in one insurance provider is making sure that in the event you have a winner, the insurance company will be there to pay the claim.

"When selecting a hole in one insurance provider, you'll want to get some sense of their reputation in the industry - how many years have they been in the business, how much have they paid out in claims. However, the number one thing you want to know is will they be there to pay the claim. The best way to do that is to ask them who is their underwriter," notes Gilmartin. "That way, when it comes time to hand over the million-dollar check, you'll be able to focus on your winner and the media, instead of worrying about if the insurance company can pay for the prize."

Founded in 1991 and headquartered in Reno, Nevada, Hole In One International is the nation's leading provider of hole in one insurance, million dollar shoot-out insurance, putting contest insurance, rain out insurance, and contest and sponsor signs for company, charity, and golf course tournaments. Hole In One International offers a number of free online tools for golf tournament planners including free Golf Tournament, Putting Contest and Million-Dollar Shoot-Out planning guides.

For more information on Hole In One International's current packages, or on planning an attention-getting hole in one or putting contest, visit their website at http://www.Hole In One International.com.

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Amy Fanter
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