Promotion Insurance

Written by Gregg Ruais
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Buying promotion insurance can make golf outings much more profitable for golf courses. It provides them with the freedom to promote their events alongside incredible contest prizes, such as sports cars, golf vacation packages, and premium sports tickets. With insurance, they need not worry about people actually winning the prizes. In fact, it's good for business if someone wins; it won't cost them any money, and it will attract more participants for future contests.

Some contests cost as little as $25 to insure. Most of them cost only a few hundred bucks. If there are going to be more than 100 people competing in a tournament, event hosts only have to charge a few extra dollars per person to turn the cost of insurance into profit.

Golfers Want to Win Money

If given the opportunity to take a $25K shot at a hole in one, most golfers, I believe, would be willing to pay a few extra dollars to enter tournaments. And why not? An amateur golfer has a one in 42,000 chance of making the shot, whereas state lottery tickets, which also cost a few dollars, have odds that aren't nearly as promising.

There are so many products on the market that come with prize offerings. Not long ago, Pepsi even advertised a $1 billion prize. I actually know somebody who won a free car by collecting Snapple caps. Contests can be found on cereal boxes, candy bar wrappers, and fast food soda cups. It's industry knowledge that promotions increase revenue. Golf courses can use this marketing strategy if they have the right insurance.

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