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Hole-in-One Insurance Protects Your Golf Course Ames IA

Most hole-in-one prizes, particularly ones offered at charity or other fundraising events, are offered on a par-3 hole, since offering it on a higher-par hole would usually discourage participation. Insurance companies calculate the premium of this coverage based on a number of factors, including the cash value of the prize, the length of the hole and the number of attempts allowed to each participant.

Coventry
(515) 253-4077
4320 114 st
Urbandale , IA
Alternate Phone Number
515-253-4077

Ben Buenzow State Farm Agency
(515) 270-8870
3273 100th St.
Urbandale, IA
Alternate Phone Number
515-270-8870
Services
auto insurance, home insurance, health insurance, life insurance, disability insurance, business insurance

American Family Insurance
(515) 292-2500
Colorado Junction MA
Ames, IA
 
Thrivent Financial For Lutherans
(515) 292-7077
315 6th St
Ames, IA
 
Northwestern Mutual Financial Network
(515) 292-1811
2521 Elwood Dr
Ames, IA
 
Kari Durham State Farm
(515) 278-8882
3912 NW Urbandale Dr.
Urbandale , IA
 
New York Life - Ted G. Bodensteiner,lutcf
(515) 576-6165
www.tedbodensteiner.com
Fort Dodge, IA
Alternate Phone Number
(515) 576-6165
Services
Life, Long Term Care, Annuities, Investments

Mark Doyle Agency
(515) 232-8090
2701 Stange Rd
Ames, IA
 
Ann's Insurance Inc
(515) 232-5501
308 E 2nd St Ste 102
Ames, IA
 
State Farm Insurance
(515) 232-3307
515 Grand Ave Ste 104
Ames, IA
 

Hole-in-One Insurance Protects Your Golf Course

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Hole-in-one Insurance

Coverage that protects your favorite golf course from the cost of a perfect swing

Insurance may not be the first thing that occurs to you when you think of perks at your local golf course. You’d probably think instead of the excellent martinis at the clubhouse bar or the reduced tee-off price you get for guests with your membership. In fact, you may not have given a moment’s thought to the shiny new Lexus that the club offers anyone who gets a hole-in-one, since, well, what are the odds that that’s ever going to happen?

But did you ever wonder who actually pays for that car, or any other prize your golf course offers for a perfect shot? Well, it’s mostly likely not the golf course itself. Chances are the club has purchased hole-in-one insurance – also known as prize indemnification – to cover the cost of the winnings in the unlikely event that someone actually makes that shot.

Hole-in-one insurance is similar to other big-ticket types of coverage, such as boat insurance or farm insurance Most golf courses utilize this kind of indemnity for major golf tournaments or fundraisers where the prize value – sometimes as high as $1 million – is far more than the club or sponsors could afford to pay.

Most hole-in-one prizes, particularly ones offered at charity or other fundraising events, are offered on a par-3 hole, since offering it on a higher-par hole would usually discourage participation. Insurance companies calculate the premium of this coverage based on a number of factors, including the cash value of the prize, the length of the hole and the number of attempts allowed to each participant.

Despite the unlikelihood of a hole-in-one, most insurers have very specific requirements before they will provide indemnity. Usually the prize must be offered on one specific par-3 hole, not any par-3 on the course. If contest participants are professional golfers, then the premium will obviously be higher than if they were amateurs. And some...

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