A specialty insurance for individuals covering the customary celebration costs, gifts and round costs incurred on achieving a hole-in-one or albatross during a golf round.
N2N Insurance Brokerage does not represent any single insurer — it independently represents the client as an FSS-registered broker (Reg. No. 2026-012201). We compare the wordings, rates and service of AIG · Chubb · DB · Hyundai · KB · Meritz to propose the cover and price best suited to your risk. Each insurer's full wording is provided at application and binding.
A specialty insurance for individuals covering the customary celebration costs, gifts and round costs incurred on achieving a hole-in-one or albatross during a golf round.
Annual renewal at a small premium.
Designed by item — gift, round, celebration dinner.
The same cover applies on overseas rounds.
Optional cover for club breakage/loss.
Amateurs rounding at least weekly.
Executives with frequent client-entertainment rounds.
Corporate and charity golf-tournament participants.
| Policy period | 1 year (renewable) |
|---|---|
| Payment | Lump sum |
| Insurers | DB · KB · Meritz · Hyundai |
| Turnaround | 1–2 business days |
| Channel | Individual consultation with our broker (010-5755-6465) |
If the insured event has already occurred at the time the contract is made, the contract is void. However, where the contract is void due to the company's intent or negligence, or where the company knew or could have known of the nullity before acceptance yet did not refund the premium, the company refunds the premium with interest at the policy-loan rate published by the Korea Insurance Development Institute, compounded annually, for the period from the day after payment to the day of refund.
The specific losses not covered (exclusions) are set out in each insurer's policy wording and product description; on this page, see the “Cover” tab(or the “Losses not covered” section) for the main exclusions. For other cover-specific grounds on which claims are not paid, please refer to the policy wording.
The company provides cover, in accordance with the policy, from the time it accepts the application and receives the first premium. Where the company accepts the application after receiving the first premium with it, cover also begins from the time the first premium was received.
The application must be completed by the policyholder, and the policyholder and the insured must sign it by hand. Failure to sign by hand may result in disadvantages regarding the validity of the contract. On an internet cyber-mall, an electronic signature may be used instead.
The policyholder has the right to be given and have explained the information needed about the product they wish to buy.
The insurer and N2N Insurance Brokerage must explain the important matters of the product to ordinary financial consumers.
When applying, the policyholder, the insured or their agent must disclose truthfully the facts they know regarding the questions in the application (including the questionnaire). Otherwise the claim may be declined or the contract cancelled. Where insurance is taken out by telephone or other means of communication, the duty is performed by answering the seller's questions, which are recorded, without a separate written questionnaire, so answers must be given with particular care.
If, after the contract is made, any of the following arises in respect of the subject-matter insured, the policyholder or the insured must notify the company in writing without delay and obtain endorsement on the policy.
The surrender value is the amount paid if the contract is cancelled early. Unlike bank savings, insurance combines risk protection and savings: part of the premium is paid out as claims to other policyholders who suffer accidents, and part covers the insurer's operating expenses, so the surrender value on early cancellation may be less than the premiums paid, or nil.
Under Article 59-4(1) of the Income Tax Act (special tax credit), for protection-type insurance taken out by an employee only, a tax credit of 12% of the premium paid (capped at KRW 1 million per year) is available. Tax matters may change with amendment or repeal of the relevant tax law.
Except as provided by law, the insurer and N2N Insurance Brokerage do not collect, use, inspect or provide personal data related to this contract — for its conclusion, maintenance and claim payment — without the consent of the policyholder, the insured or the beneficiary. However, for those purposes the insurer may, with the consent of the policyholder and the insured and in accordance with law, provide personal data to other insurers and insurance-related bodies.
The above is a summary and excerpt of the policy wording; for grounds on which claims are not paid and other details, please refer to the policy wording and product description.
Five areas of individuals and groups
Rounding at least monthly. Efficient against the cost of a single event.
Group enrolment by a club. Integrated cover for many members' rounds.
Corporate group enrolment. Comprehensive cover for employees' golf rounds.
Golfers in tournaments and events. A single-round cover area.
Golf academies and lesson groups. A member-group cover area.
A club member achieved a hole-in-one during a regular round. Under this wording, the companions' meals, round-cost refund and gift costs were reviewed, and in the verification process (1) the golf-course round-booking record, (2) two companions' written confirmation, and (3) the caddie's/golf-course official's confirmation became essential evidence. In some clubs the companions are also members, so a combined event where two members hole-in-one in the same round can be reviewed; how each wording designs the aggregate limit and the single-event limit became the key review area for club group enrolment.
Source: (General industry example)
The wording and structure points decision-makers most often overlook
This wording covers only a formal round at a registered course under the Sports Facilities Act. Driving ranges, non-formal rounds and some overseas courses are outside cover, so confirm the course's formal registration in advance.
Hole-in-one verification has strict requirements by wording — number of companions (usually 2+), golf-course confirmation, booking record. A solo round, an informal gathering or a round with incomplete proof can be a ground for declining cover, so know the verification process in advance.
Customary hole-in-one costs vary widely with the course, number of companions and culture, so the standard limit may not cover the actual cost. Design the limit to match the typical round-cost scale.
The questions decision-makers ask most when considering hole-in-one insurance
It is a specialised wording covering the customary costs — companions' meals, round costs, gifts — that arise on a specific golf achievement such as a hole-in-one or albatross during a round. Both individual golfers and groups (companies, clubs) can take it out; it is a Korea/Japan-specific area tied to golf culture.
A hole-in-one, albatross or eagle during a formal round at a registered golf course (under the Sports Facilities Act) is the usual cover. Wordings differ — (1) hole-in-one only, (2) hole-in-one + albatross, (3) various achievements — and the premium varies greatly with the limit and scope.
Usually (1) companions' meals and drinks, (2) round-cost refund, (3) caddie gratuity, (4) gift costs, and in some wordings (5) golf-course event costs. The limit differs by wording, and for group enrolment an aggregate limit is set for multiple members' hole-in-ones.
Individual golfers (amateur, semi-pro), golf clubs and corporate groups, golf-course member cover, and corporate-employee golf benefits can all take it out. Professional golfers are a separate "professional golf tournament comprehensive insurance" area.
On a hole-in-one, you need (1) proof of a round at a registered golf course (booking record, golf-course confirmation), (2) companion verification (usually 2+), and (3) written confirmation by a golf-course official (caddie, marshal). Verification requirements differ by wording, and failing the process is a ground for declining cover.
Golf course package insurance is a comprehensive facility/user/caddie cover taken out by the golf-course operator (sports-facility business), while hole-in-one insurance is achievement-cost cover taken out by an individual golfer or group. The two wordings differ in who takes them out and in cover area.
For individual enrolment, the insurer assesses it on the golfer's handicap and annual rounds; for group enrolment, on the number of members and average round frequency, the limit, the scope (hole-in-one only vs various achievements) and the policy term. The exact premium and acceptance are confirmed after underwriting by insurers such as AIG, Chubb, DB, KB, Meritz and Hyundai.
