What is Hole-in-One Insurance?
Hole-in-one insurance is also known as prize indemnity insurance.
Hole-in-one insurance allows event organizers to offer big ticket prizes to contestants. Would you rather win a BBQ or a brand new car? This insurance will pay for the prize in the event that someone wins it.
The likelihood of getting a hole-in-one is 1 in 12,500, or 0.008%. Why would you, as an organizer, want to buy a brand new vehicle if there was only a 0.008% of someone taking it home?
This insurance covers more than just hole-in-ones.
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