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Hole-in-One Insurance Protects Your Golf Course Cabot AR

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.

Central Arkansas Insurance
(501) 912-3097
6813 Incas
North Little Rock , AR
 
Central Arkansas Insurance
(501) 912-3097
6813 Incas
North Little Rock , AR
 
State Farm Insurance Companies
(870) 534-5012
2900 Olive Street
Pine Bluff, AR
Alternate Phone Number
870-534-5014
Services
Financial and Insurance Services

Coker Insurance, Inc.
(870) 239-2110
2200 Grecian Lane, #5
Paragould, AR
Alternate Phone Number
870-239-2110
Services
Auto, Home, Life and Business Insurance
Prices and/or Promotions
www.cokercompanies.com

The Dickinson Agency LLC
(501) 221-3000
9120 N Rodney Parham
Little Rock, AR
Services
Insurance

Fred Hughes
(501) 912-3097
6813 Incas Drive
North Little Rock, AR
 
The Newell Agency
(501) 224-9082
11311 Arcade Dr., Suite 100
Little Rock, AR
 
Todd Martin Shelter Insurance
(501) 985-9794
210 John Harden Dr
Jacksonville, AR
 
Southern Farmers Crop Insurance Agents
(870) 934-0477
2502 Glenwood Drive
Jonesboro, AR
Alternate Phone Number
(870) 934-0477

Nationwide Insurance Quotes - Chuck Jordan
(501) 624-4105
813 Airport Road
Hot Springs, AR
Alternate Phone Number
800-354-3109
Services
Car Insurance, Home Insurance, Business Insurance, Auto Insurance, Insurance Quotes, Insurance Consulting
Prices and/or Promotions
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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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