59-year old woman wins truck with amazing shot
 

What a goal! I cheered :) Looks like she really needed a new vehicle, as well.

She takes the shot at 1:05

Man, someone up there's looking out for her. Damn nice to see that.

Love the helmet, btw.

bet the Ford dealership never thought someone would win..lol

Quick, get her under contract!

WOW!

Saw it on SportsCentre last night... one of these awesome stories where there are no losers.

Wasn't there a time someone did this and they wouldn't give the winner their prize? Anyone remember?

^ yeah a little boy "won" $10,000 but the win was voided because it was his twin brother who was supposed to take the shot.

Exactly :accepted: Frenchie’s Ford

I'm sure the dealership costs are covered by the insurance.

I'd say no. The cost of insurance is quite high. In this case, they can write off the truck as part of advertising cost.

yeah, i remember that too. The guy shot the puck over the blue line and it went it. I'm pretty sure he didn't win. But, i'm not sure and i don't remember when or where that happened.

Why would insurance be high? Insurance is all about risk. The higher the risk, the higher the cost. How likely would someone be to make that kind of shot? The announcer said in his 60 years, he's never seen anyone make it.

Likely, they have some form of "Hole-in-One" insurance.

she is better then me!

Yes there is hole-in-one type insurance, but it is also possible that they didn't use insurance and take it as part of advertisement cost to offer the car.

It's not like they are offering 1M dollars as the prize.

When London Drugs does their shot to win contest at Canuck games, prizes are paid out through the company and not through insurance.

How much is the truck worth? $40K? The company can easily write that off at the end of the year.

I failed you because you mentioned high insurance costs, and they really aren't.

Now she needs to pay the the tax portion in cash :awwyeah:

Oh crap. You're right. This was in the US. Car is valued at $50K according to another article.

Yet if they make a claim on the insurnace, you don't think that would affect future insurance premiums and deductables?

I doubt this would be like your car or home insurance. This is how I've seen it done before:

The insurance company essentially makes the bet that no one will be able to do it. They calculate the odds, and put up the money. The sponsor will pay for the opportunity to do the contest, say $1,000, and then the insurance puts up the prize if someone actually wins. The sponsor gets its advertising. The insurance makes coin.

dealership took a risk and leveraged one of the vehicles. I'm sure they were laughing at the fact that it was free marketing until now....

so the following is wrong:
the dealership is the loser this time. :smug:

Who gives a shit how the dealership can write the truck off or not. Lets pay more attention to this woman who took an amazing shot!!!!

From someone whose wife works in the insurance industry: this is actually pretty close to how it works.

you dont have a clue, almost every raffle or contest like this is insured. How would any small-medium size business be able to account for a Infinitesimal chance of having an additional 50k advertising expense at the end of the year.

Thats even assuming this sort of thing could be written off at all.

Bingo.

Sure it's a slim chance, but it's still a chance that you're going to have a BIG hit to your bottom line. No intelligent business owner would take that risk, especially when there are types of insurance offered *specifically for this purpose*.

This isn't something that would have anything to do with a company's regular yearly insurance premiums, because it IS a specialty policy purchased specifically for the event.

There are even brokers that deal entirely in specialty coverages like this:
ICSB Insurance - Specialty Brokers
Prize Insurance
Hole in One Insurance | Low Cost Hole in One Insurance
Promotional Insurance - Automotive Consulting Company

"Through our sister company, Clean Sweep Promotions, we insure contingent cash and prize giveaways up to $1,000,000. Our clients are able to offer these prizes with no financial risk. You pay a minimal premium, and Clean Sweep Promotions foots the bill when there is a winner.

This way you are able to evoke excitement and action in your customers while staying on a fixed budget."

VG, your a tool. Advertisement cost can easily be written off at the end of the year as cost of doing business.

Thanks for the links Soundy. Looks like insurance cost is around 2-9% of the prize's worth. Makes more sense to write off $1000 for the insurance policy than a $32K truck.