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Hole-in-One Insurance Protects Your Golf Course Aurora CO

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.

Equisure
(303) 614-6961
3000 S Jamaica Court
Aurora , CO
 
Lloyd Kull State Farm Insurance
(303) 343-3515
390 S Potomac Way unit F
Aurora, CO
 
JACKSON NATIONAL LIFE INSURANCE CO.
(303) 846-2000
7601 Technology Way, 1st Floor
Denver, CO
 
SECURITY TITLE GUARANTY
(303) 889-8118
4643 S Ulster St.
Denver, CO
 
ROCKY MOUNTAIN HEALTH PLANS
(720) 493-2054
6251 Greenwood Plaza Boulevard
Greenwood Village, CO
 
Scott Underwood Agency, LLC
(303) 745-3174
15322 E Alameda Pkwy, Unit 25
Aurora, CO
 
Mike Gibbs State Farm Agency
(303) 699-2800
3140 S Parker Rd. Suite 5
Aurora, CO
 
PINNACOL ASSURANCE
(303) 361-4000
7501 E. Lowry Blvd
Denver, CO
 
COUNTRY INSURANCE & FINANCIAL SERVICES
(303) 770-1413
5340 S Quebec
Greeenwood Village, CO
 
Madison Insurance Group
(800) 636-6185
425 S. Cherry St. Suite 420
Denver, CO
 

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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