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Hole-in-One Insurance Protects Your Golf Course Salem OR

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.

Oregon State Bar Professional LiabilityFund
(503) 639-6911
5200 Southwest Meadows Road P. O. Box 1600
Lake Oswego, OR
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States/Provinces Served: Oregon

Western Long Term Care
(541) 390-4697
19935 Cliffrose Drive
Bend, OR
 
Edna Rodriguez Farmers Insurance
(541) 284-8996
1650 W 11th Ave, Suite 5
Eugene, OR
Alternate Phone Number
541-284-8996
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Auto, Home, Business and Life Insurance
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Fox Insurance Agency
(503) 277-2300
8040 SW Hall Boulevard, Suite 100
Beaverton, OR
Alternate Phone Number
(503) 277-2300

Keith Skinner Agency
(541) 776-0673
1112 Progress Dr., Ste 103
Medford, OR
 
Brian West Insurance Agency
(503) 690-4994
16157 NW Cornell Rd. Ste 109
Beaverton, OR
 
American Family Insurance
(541) 928-6857
1331 Waverly Dr SE Suite B
Albany, OR
 
TMB Financial LLC
(503) 861-9402
1087 Nautical Dr
Hammond, OR
 
Choices insurance Agency
(503) 653-1212
617 High St Suite 205
Oregon City, OR
Alternate Phone Number
503-653-1212
Services
Auto, Home and Commercial

Insurance Services of Southern Oregon, LLC
(541) 476-3527
831 NE 7th Street
Grants Pass, OR
Alternate Phone Number
541-476-3527
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AUTO * HOME * LIFE * COMMERCIAL
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http://www.insurancesso.com

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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