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Hole-in-One Insurance Protects Your Golf Course Claymont DE

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.

Joseph Coen
(302) 220-3536
2404 Belford Dr.
Wilmington , DE
 
Insphere Insurance Solutions
(484) 927-6190
300 Berwyn Park
Berwyn, PA
Alternate Phone Number
484-927-6190
Services
Health, Life, Retirement, Disability, Long term care

Pennsylvania Insurance Network
(484) 932-8210
5 Great Valley Pkwy
Malvern, PA
Alternate Phone Number
484-932-8210

Car Insurance Philadelphia
(215) 531-7721
1229 Chestnut St
Philadelphia, PA
Alternate Phone Number
215-531-7721

Joseph Coen
(302) 220-3536
2404 Belford Dr.
Wilmington , DE
 
John Koziol Agency
(302) 234-5430
724 Yorklyn Road
Hockessin, DE
 
Stacey Daniels - State Farm Insurance Agent
(610) 296-8722
270 Lancaster Avenue
Malvern, PA
 
Oppenheimer & Co. Inc. (Gerald Jevic)
(215) 656-2800
1818 Market Street 24th Floor
Philadelphia, PA
Alternate Phone Number
215-656-2800
Services
Insurance

John Koziol Agency
(302) 234-5430
724 Yorklyn Road
Hockessin, DE
 
Federal Deposit Insurance Corp
(302) 792-7792
650 Naamans Rd
Claymont, DE
 

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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