Articles Editor's Blog Reader Mail

Hole-in-One Insurance Protects Your Golf Course Gardnerville NV

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.

Cal-State of Nevada
(702) 452-2440
3101 Builders
Las Vegas, NV
 
American Family Insurance-The Chelcie Houk Agency
(702) 385-3888
10660 Southern Highlands Pkwy Ste 108
Las Vegas, NV
 
GLB Insurance Group of Nevada
(702) 631-0012
4455 S Pecos Rd
Las Vegas, NV
 
Geico
(702) 643-0057
3315 W Craig Rd Ste 110
N Las Vegas, NV
 
Health Insurance / Jgnt Benefits Group
(702) 245-2441
Henderson
Henderson, NV
Alternate Phone Number
702.245.2441
Services
702.245.2441

American Family Insurance-Jack Walton
(702) 733-5820
6775 Edmond St Ste 300
Las Vegas, NV
 
Health Quest Insurance
(866) 358-6868
9732 State Route 445, #348
Sparks, NV
 
International Insurance Services, Ltd.
(702) 360-0023
7424 W Sahara Ave
Las Vegas, NV
 
Regan Wood Agency
(702) 341-1500
9435 W. Tropicana Ave Suite 107
Las Vegas, NV
Services
Insurance and financial services

Health Plan of Nevada
(702) 821-2200
2724 N Tenaya Way Fl 1
Las Vegas, NV
 

Hole-in-One Insurance Protects Your Golf Course

Provided By: 

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...

Click here to read the rest of this article from Insurance Guide 101

About Us | Contact Us | Link to Us | Privacy Policy | Terms of Use | Insurance Resources | Sitemap