There are fewer things more memorable to a golfer than his/her first hole-in-one (other than maybe playing at August National). I am sad to say that I have yet to experience my first ace despite struggling with this great game for 33 years.

However, I did recently get lucky in acing a hole during a round of virtual screen golf. This got me thinking perhaps I should get me some insurance in case I ever do get the ball to drop for a one on a real scorecard.

Golf Insurance, You Say?

Here in Korea, we celebrate the holy grail of golf score a bit differently than most folks. It involves many steps and can get quite costly for the lucky (?) golfer. Hence, Korean insurance companies have begun offering diverse hole-in-one insurance policies to ensure that our wallets don’t take a critical hit.

Below is what I have learned over the years about the hole-in-one culture here in Korea. In many ways, I find it both fascinating and truly memorable.

Ace In The Hole

When an actual hole-in-one is confirmed, all involved parties inevitably get pumped. This is probably no different in most golfing countries, but the next steps surely are not. The accompanying caddie declares the deed to be official and lays a towel in front of the cup. The lucky golfer then kneels and bows to the ball three times to thank it for the good fortune he/she is to receive for the next three years. The accompanying members who witness the ace are also said to be lucky for one year.

The golf course is alerted of the event, and a certificate to commemorate the deed is presented to the golfer at the end of the round. The caddie is usually tipped a healthy sum, and the foursome usually ends up celebrating with a nice dinner, drinks, and general merriment. Pretty standard up to this point, but here is where it gets interesting.

To further commemorate the wondrous gift from the golf gods, the members of the foursome are expected to pitch in and gift the golfer with a trophy, often adorned with real gold worth between $1,000~$3,000. In turn, the three are treated to a round of golf accompanied by a small gift such as golf balls stamped with the event.

If the golfer happens to be a member of the particular golf club and is feeling particularly generous, they may also opt to plant a tree or a prize bush near the hole to commemorate the achievement for all to see.

Hole-In-One Golf Insurance

From the above, you can guess that the costs associated with a hole-in-one can be quite steep. I have heard numerous golfers jokingly say they are afraid of making an Ace! With such financial responsibilities looming overhead, I have also wondered if an Ace is indeed worthwhile. But luckily, there is help.

The Hole-in-One insurance is exactly as it sounds, aimed at alleviating the financial burden to the joyous golfer who hit the golf jackpot. For few dollars a month, you can be insured against the fortunate(?) event for up to $2000~5000 dollars.

Since I have yet to be so lucky, I had sought a friend who had recently made his first Ace last month. According to him, he had been paying about $20 monthly for the past three years before collecting just under $5000 last month after holing out from 151 meters (165 yards).

I have since found out there are many types of golf-related insurances. The most typical amount is $30/month for $3000 coverage or $50/month for $5000 coverage. The friend above says his car insurance had an add-on golf insurance of an additional $25/month, which he signed up for since it also insured against theft.

Over the past couple of years, various insurance vending machines have been popping up on golf courses next to par-3 tee boxes. According to the sign, golfers can insure their foursome for $12 (10,000 KRW) before tee shot. The vending machine is equipped with a video camera pointing at the hole, and the payout is between $2000~$2500 depending on the company offering the insurance. The insurance, of course, is only valid for that specific hole on the day. So if a golfer is feeling particularly lucky standing on the tee, all they need to do is drop 10,000 KRW into the machine, and voila. They’re all covered for any celebrations that may ensue.

There are more types of insurance than what I mentioned above, including apps that sell one-time insurance for aces to albatrosses. But the basic premises are the same: “Good things are expensive, so be prepared” is their motto.

Temptation

As with many insurance cases, I have heard that the golfer insurance is also fraught with fraudulent claims from golfers faking an ace. Tempted by the insurance money, there have been cases where golfers coerce the caddie to back up their claims of a hole-in-one and share in the money.

However, these cases rarely ever succeed. The caddie and golfer, along with the foursome are required to testify to the ace and can face punitive legal measures if false information. In addition, the golfer first also provide to the insurance company all they had spent towards the celebration of the event. Only when all is proven is the insurance money reimbursed to the golfer, so there is little concern of fraud nowadays.

But what about those of us with no golf insurance? Most golf clubs offer a variety of prizes to the lucky individual, ranging from golf equipment and massage chairs to local delicacies and apparel. I have heard that many companies offer their products as a prize to promote their brand. This way, both the golfer and the company benefits.

How do you celebrate a hole-in-one in your corner of the world? What special event have you done after your ace? Let me know in the comments section!