Articles Editor's Blog Reader Mail

Hole-in-One Insurance Protects Your Golf Course Meridian 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.

Shalom Farmers Insurance Agency
(208) 602-7892
2947 E. Magic View Dr
Meridian, ID
 
Silver Key Insurance Boise
(208) 855-9099
10588 W Business Park Lane
Boise, ID
Services
Personal Insurance, Home Insurance, Auto Insurance, Small Business Insurance, Life Insurance
Prices and/or Promotions
Free Insurance Quotes

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

Angela Webb Insurance AGency
(208) 342-7728
4792 Overland Rd Suite 300
Boise, ID
 
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

Threeriversagency.net
(208) 322-2445
10159 W OVERLAND RD
BOISE, ID
Services
car insurance, auto insurance quote, vehicle insurance

Idaho Insurance Agency LLC
(208) 377-7101
1650 S Albright Lane
Boise, ID
Alternate Phone Number
(208) 377-7101
Services
Individual and Group Health Insurance

Northwestern Mutual Financial Networks
(208) 467-6508
204 10 ave s
Nampa, ID
 
Northwestern Mutual Financial Network
(208) 947-5238
1111 West Jefferson Street
Boise, ID
Services
Insurance, Investments and Retirment Services

Idaho Insurance Agency LLC
(208) 377-7101
1650 S Albright Lane
Boise, ID
Alternate Phone Number
(208) 377-7101
Services
Individual and Group Health Insurance

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