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Hole-in-One Insurance Protects Your Golf Course Boston MA

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.

Willis of Massachusetts
(617) 437-6900
Three Copley Place, Ste. 300
Boston, MA
 
Penn Mutual
(978) 314-9320
100 Cambridge Street, Suite 2100
Boston, MA
 
MTA Benefits, Inc.
(617) 557-6607
20 Ashburton Place
Boston, MA
 
Licata Kelleher Risk & Insurance Advisors, Inc.
(617) 451-2140
137 South Street, Ste. 3
Boston, MA
 
Boston Medical Center HealthNet Plan
(617) 748-6000
2 Copley Place, Ste. 600
Boston, MA
 
AIG/ American International Companies
(617) 457-2700
99 High Street, 31st Flr.
Boston, MA
 
Thomas E. Sears, Inc.
(617) 426-8300
31 St. James Avenue, Ste. 1050
Boston, MA
 
Safety Insurance Group, LLC
(617) 951-0600
20 Custom House Street
Boston, MA
 
Chubb Group of Insurance Companies
(617) 439-4440
One Financial Center
Boston, MA
 
Stop Loss Insurance Brokers
(617) 542-1600
20 Park Plaza, Ste. 912
Boston, MA
 

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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