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Hole-in-One Insurance Protects Your Golf Course Leland NC

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.

Wells Insurance
(910) 251-5416
One North Third St
Wilmington, NC
 
Progressive
(919) 933-9050
212 East Rosemary Street
Chapel Hill, NC
Alternate Phone Number
9199339050
Services
Auto, Home, Renters & Motorcycle Insurance

Pegram Prevatte Insurance
(336) 226-4044
2659 Ramada Rd
Burlington , NC
Alternate Phone Number
336-226-4044

Brewer Insurance Group
(919) 562-1974
1904 South Main Street
Wake Forest, NC
 
Farzad Financial
(919) 806-4669
2530 Meridian Parkway
Durham, NC
Alternate Phone Number
919-949-3814
Services
Life-International Health- Disability-Longterm Care-

Lawyers Mutual Liability Insurance Companyof North Carolina
(919) 677-8900, (800) 662-8843
5020 Weston Parkway, Suite 200
Cary, NC
Prices and/or Promotions
States/Provinces Served: North Carolina

State Farm Insurance-Sue Burruss Agency
(910) 864-5908
8140 Cliffdale Road
Fayetteville, NC
Alternate Phone Number
910-864-5908

NCInsuranceSpot
(336) 293-8077
117-1 Willow Trace Circle
Clemmons, NC
Alternate Phone Number
336-293-8077
Services
Insurance & Annuities

Carolina Capitol Insurance Group
(919) 747-9002
1100 Logger Court Suite H-103B
Raleigh, NC
 
Biggs Insurance Group, Inc
(704) 369-5270
14825 John J. Delaney Drive
Charlotte, NC
 

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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