Hole in One Insurance

The hole in one prize, a long time staple for many tournaments, from the local charity tournaments to the PGA Tour, that shiny new car at the parked at the course entrance, on the tee or next to the green generating dreams in each arriving player.

"Well, yes, I hit a half an eight iron with a high drawer to the back pin on that small shelf. Oh, how far was it? Oh, about 185 yards." Of course, when reality sets in, the pin is dead center of the green, 155 yards over water, and he’s going to use a seven wood because "you can’t make many pars from the bottom of the pond." Words the hole in one insurance underwriter loves to hear.

His premium for the day is outrageous, but still, that new car is worth well over $30,000 and there are so many blind squirrels in these tournaments that it seems like every week somebody blades one that bends the flagstick as it drops to the bottom of the cup, setting off whoops and hollers of Hole in One Mania!

Then of course, the new reality sets in and the claims agent arrives interviewing all the witnesses including the authorized witness appointed by the tournament committee.

Did you actually see the ball go in the hole?
Had he hit a mulligan?
Was he teed up properly behind the markers?
Where were the markers?
Was the ball used USGA compliant?
How about the club, was that USGA compliant?
How well do you know the player and all others in his group?

And all of the other irritating questions the claims agent asks, then you finally hear, “OK, you can pick up your car at the Royal Auto Dealers, we’ll issue you a 1099 at the end of the year for tax purposes; oh, yes, here’s my brothers card in case you need some car insurance for that baby…”.

And this is just the part that the participants and the winner get to see. What you don’t see is what goes into hole in one insurance underwriting.

Examples of some of some of the underwriting factors for hole in one insurance

include the length of the hole
the type of green complex
does the green have contours, or does it have large flat spots with valleys and bowls?
Is the superintendent of the course willing to work with us as far as pin placements is concerned?
Tee set ups: can the tee box be set up to increase the difficulty of the hole?
What is the hole in one frequency of this particular hole? X number of hole in ones Y number of rounds. Example, one hole in one every 40,000 rounds, every 20,000 rounds?
If it is a nine hole course, will we be insuring the first nine or the second nine, or both?
What is the ability of the players? Are they high handicap, local charity players, or are they PGA pros?
What is the exact cash value of the car?
What is this tournaments history?
Have there been many previous hole in ones?
Are there any questionable hole in ones?
How about the player?
Does he or she have any hole in one history? And if so, what does it look like?
How about the particular golf club you’re playing at?
Do they have a hole in one history?
Do they have a hole in one frequency?
Are there any questionable hole in ones there?
Was all the equipment used confirming to USGA standard? For example, cup liners, flagsticks, balls, tees, clubs, tee markers, etc.
Will we receive promotional consideration for providing the insurance?
Are we insuring only the first hole in one of the day or should we be insuring any additional hole in ones?

Now all you have to do is take dead aim and smooth out that 7-iron.

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