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Hole-in-One Insurance Protects Your Golf Course Coeur D Alene ID

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.

Family Home Care & Hospice
(208) 772-2112
1620 Northwest Blvd., Suite 201
Coeur D Alene, ID
 
Insphere Insurance Solutions
(208) 691-4569
Alpine Dr
Post Falls, ID
Alternate Phone Number
208-691-4569
Services
Health, Life, Supplemental, Medicare

The Insurance Center
(208) 785-6661
745 W Bridge St Ste J
Blackfoot, ID
Services
Insurance agent, Insurance agency, Auto Insurance, Car Insurance, Health Insurance, Homeowners Insurance, Life Insurance, Business Insurance, Dental Insurance, Farm Insurance, Investments, Liability Insurance, Medicare Supplements, Mobile insurance, Manufactured Homes Insurance, SR22 Insurance, Vehicle Insurance, Annuities

Three Rivers Insurance
(208) 454-1424
910 E Cleveland Blvd
Caldwell, ID
Services
car insurance, auto insurance quote, vehicle insurance, free online insurance quotes, rate quote, life insurance

Insphere Insurance Solutions
(208) 691-4569
Alpine Dr
Post Falls, ID
Alternate Phone Number
208-691-4569
Services
Health, Life, Supplemental, Medicare

Landers Insurance
(208) 651-6208
1218 E. Sherman Ave.
Coeur d Alene, ID
Services
Auto Insurance, Health Insurance, homeowners insurance, life insurance, and Commercial Insurance

Pacific Crest Sevices, Inc.
(208) 938-4197
450 W State St
Eagle, ID
Alternate Phone Number
208-938-4197

Family Home Care & Hospice
(208) 772-2112
1620 Northwest Blvd., Suite 201
Coeur D Alene, ID
 
Northwestern Mutual Financial Network
(208) 947-5238
1111 West Jefferson Street
Boise, ID
Services
Insurance, Investments and Retirment Services

Shalom Farmers Insurance Agency
(208) 602-7892
2947 E. Magic View Dr
Meridian, ID
 

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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