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Hole-In-One

Hole-In-One and Putting Contests for a Golf Event

About Hole-In-One Insurance

The Abacus Hole-In-One program allows you to insure against the chance of a golfer making a hole in one or sinking a putt. By purchasing a policy that transfers the potential payout from you to an insurance company, you can offer a large, eye-catching prize and not have to worry if a lucky golfer hits that perfect shot.

The program is comprised of:

  1. Hole-In-One Contest
  2. Putting Contest

The program is ideally suited for special events such as charity events and is a great way to round out coverages.

Minimum Distance and Maximum Prize

Prize Type Minimum Distance Maximum Prize
Hole in One 150 yards (men), 135 yards (women) 1,000,000
Putting Contest 40 feet 25,000

How Pricing Works:

  1. Hole-In-One - pricing is based on the difficulty of the course (slope), distance to the hole, number of contestants, prize value.
  2. Putting Content - pricing is based on the distance to the hole, number of attempts.

Sample Prizes and Pricing - Hole-In-One

Prize 36 Contestants 72 Contestants 144 Contestants
Hawaiian Vacation ($10,000)$150$150$187
Porsche Boxster ($75,000) $351$702$1,404
Cash ($25,000) $150$234$468

Assumptions: Amateur golfers only, average slope course, event in California, 165 yard hole.

Odds of a Hole-In-One

According to a 1999 article in Golf Digest, the chances are 1 in 3,756 for a PGA Tour pro and 1 in 12,750 for an amateur.

Requirements

The following applies to all Hole-in-One and Putting Contests.

Hole-In-One Contests

All attempts for prize amounts above $100,000 must be videotaped.

Prize Value Requirements
Up to $4,999Requires at least two (2) witnesses from the other registered participants playing in the group of the eligible recipient making the attempt.
$5,000 - $59,999Requires at least two (2) witnesses from the other registered participants playing in the group of the eligible recipient making the attempt and one official third party witness positioned at the green or tee box of the designated hole. The official third party witness viewed each eligible recipient’s initial shot as well as the full and complete path of the ball until it comes to a stop.
$60,000 - $100,000Requires at least two (2) witnesses from the other registered participants playing in the group of the eligible recipient making the attempt and two official third party witnesses, one of whom is positioned at the tee box and one of whom is positioned at the green of the designated hole. The official third party witnesses view each eligible recipient’s initial shot as well as the full and complete path of the ball until it comes to a stop.
$100,001 - $1,000,000Same as $60,000 - $100,000 requirement, but one of the two official third party witnesses is a PGA certified professional or assistant professional at the course where the covered event is taking place or one must be a law enforcement officer. Further, all attempts for prize amounts $100,001-1,000,000 must be videotaped in full with such video providing a continuous, unedited video record of each eligible recipient’s initial shot from behind the green clearly showing the eligible recipient in the distance and the ball landing on the surface and coming to rest within the hole.

Putting Contests

All putting contests must be videotaped. The videotape must be unedited and record the entire putting contest. It must include the measurement of the putt distance, ball placement and the eligible recipient striking the ball from the point of contact continuously to its resting point on the green or the bottom of the cup.

Prize Value Requirements
Up to $10,000 Requires at least one (1) official third party witness.
$10,000+ Requires at least two (2) official third party witnesses, one of which must be a PGA professional

Eligible States

The Abacus Hole-In-One program is currently available for clients located in the indicated states. Hover over each state for a list of lines of business available.

The content displayed on this website is for informational purposes only and is not an offer for insurance. To apply for insurance, contact your broker.
Coverages referenced on this website may not be available in all territories and may vary depending on the exposure. Minimum premiums may vary by state.

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