Organizers of hole in one competitions often take out contest insurance policies so that they can offer participants the chance to win bigger, better golf prizes without the risk of having to pay for them. Basically, these hole in one insurance providers will pay for the prize on the off chance competitors win these golf tournament contests,
Naturally, offering a bigger, better prize draws a bigger, better crowd, increases participation, and attracts more sponsors. It make a competition all around better. So many often wonder if they can take a contest insurance policy out on their own competition, or if contest insurance is strictly limited to golf competitions.
So long as participants may only take a limited amount of chances to accomplish a statistically unlikely goal, anyone can take out a contest insurance policy on their competition, believe it or not.
To help give you a better idea of just how flexible contest insurance really is, here are a few odd competitions that could benefit from it.
Thumb War Championship.
The 826 Valencia Foundation, a center in San Francisco devoted to helping kids who’d like to improve their writing, offers people the chance to compete for the title of world’s best thumb wrestler. Under the right rules and regulations, even a thumb war tournament can benefit from contest insurance.
The World Black Pudding Throwing Championship
The ancient rivalry of Yorkshire and Lancashire is celebrated each year with the World’s Black Pudding Throwing Championship. Competitors try to throw a Black Pudding that’s been wrapped in a pair of women’s tights at a bunch of Yorkshire Pudding that are on a plinth 20 feet up the side of a pub wall.
Pillow Fight League.
Yes, there is even a pillow fight league. This Canadian sport allows women to work out their aggression much to the spectators’ enjoyment. With some tweaking, a pillow fighting competition could be organized in which there’s no certainty of anyone winning, thusly allowing organizers to take out a contest insurance policy.
Contest insurance really is flexible, and can even work for these strange competitions. If you have any questions, feel free to ask in the comments. Helpful sites.