Let’s take a look at an example of such a policy from a major company MS&AD Insurance Group. In Japan, however, hole-in-one insurance is quite the opposite thing. So, instead the organizers will buy some insurance at a much lower cost to cover the price of a high performance sports car in the rare chance that it’s needed. As we already saw, with the odds of hitting such a shot, it’s a reasonable risk for a sexy promotion…but you never know. Let’s say you want to hold a golf tournament and, as a special draw for participants, you offer a Lamborghini as a bonus prize for anyone who hits a hole-in-one.
Something known as “hole-in-one insurance” exists in a lot of countries as a type of prize indemnity insurance that covers tournament organizers. Luckily, insurance companies are here to help. Depending on your financial situation, this may turn out to be a huge burden on your bank account. We’re talking food, drinks, entertainment, and even souvenirs for all the guests, commemorating this special moment in casual sports.
That’s because upon sinking one, the player is morally obligated to hold and pay for a party in their own honor comparable to a mini-wedding. And if your unlikely shot happens in Japan, you may be wishing for that pearl. They say the odds of hitting a hole-in-one in golf are around 12,000 to 1 which is somewhere around the probability of finding a pearl in an oyster. Japan may be the only country in the world that insures golfers in the event they hit a hole-in-one during a round of golf.
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