We recently came across an interesting blog from Priceonomics who wrote about how more golfers are getting hole in one insurance for financial protection after their big win. For those who are not familiar with standard hole in one insurance, it has been a common purchase for golf tournaments who want to cover their prize value if a lucky golfer manages to sink an ace. In the same way, golfers want to now cover paying for drinks and other extravagant activities that people assume they can afford after making a hole in one. 

People usually purchase hole in one for unlucky events, but in this case, golfers are seeking protection from unusual good luck. It has been a hole in one tradition for the acer to buy drinks for the entire clubhouse (for some, this isn’t a cheap buy). And it doesn’t stop at drinks, the blog also states how someone was one of 200 people invited on a dinner cruise by someone celebrating a hole in one. Think about it this way. Winning a hole in one has become similar to someone winning the lottery. After someone wins the lottery, you will get people showing up at your door from all over. Some you have never even met before. But your win for most, makes you feel obligated to give back. Golfers are waiving those costs with premiums from some firms that can cost them as little as $3. Yes, this is actually real.

Some golf clubs see this flaw in tradition and have adjusted their system in favor of the lucky winner. As stated in the New York Times, one San Francisco club include covering $250 worth of drinks to celebrate any hole in one, while a similar system at a club in Bremerton, Washington, gives pro shop and food and beverage credit to the lucky golfer. This gives the golfer the chose to share or not.

Making a hole in one should be celebrated, but do you think the traditions surrounding it have become financially impractical? And for some winners, the prize is not cash, it could be a trip, vacation or TV. If that’s the case, do you think an average person afford to cover rounds for the whole club? 

But if you are looking for standard hole in one insurance for your golf tournament you have come to the right place. Even if you can’t protect them from paying for drinks, you can at least make sure they get paid if they do make one. Check out our website for details.