Re:Why Golfers Buy Hole In One Insurance
by notahacker on Friday July 25, 2014 @05:23PM
(#8087710)
The article gives a "typical cost" of $3-5000 for a Japanese person keen to show their generosity. It doesn't make it clear the policy will pay out anywhere near that much (the British policy we are given a direct link to covers a lot more than holes in one, but pays a maximum of £200 on alcohol only for holes-in-one, at an overall premium cost of £49.95 per annum)
Even if the $3 premium really is a one off fee which covers $3000 worth of celebratory cruises (both of which I doubt), an amateur golfer with a 1 in 12,500 chance of getting a hole in one and enough disposable income to join the sort of golf club that expects celebratory cruises probably shouldn't bother.
Re:Why Golfers Buy Hole In One Insurance
by 67726e on Monday July 28, 2014 @08:14AM
(#8096252)
My understanding of the article, in the Japanese case, is not that the club requires or expects this sort of thing. This is a cruise for the "lucky" golfers friends and family and is more a societal expectation for whatever reason.
Even if the $3 premium really is a one off fee which covers $3000 worth of celebratory cruises (both of which I doubt), an amateur golfer with a 1 in 12,500 chance of getting a hole in one and enough disposable income to join the sort of golf club that expects celebratory cruises probably shouldn't bother.