Hole-in-one and other odd insurance policies

As someone who doesn't golf much and has never hit a hole-in-one, no matter how good the odds, I don't expect I'll ever need hole-in-one insurance. But some people must, because there's a market for it, among other types of odd insurance.

Golfers traditionally buy a round of drinks at the golf course bar after hitting a hole-in-one, and some bars have a hole-in-one jar for golfers to make occasional donations to and cover any future holes-in-one they might sink.

TheNew York Times reports that at the Lake Merced Golf Club outside San Francisco, every member automatically pays a small amount of dues into a fund that covers about $250 worth of celebratory drinks. At the Kitsap Golf and Country Club in Bremerton, Wash., members pay $10 annually and then get a $100 pro shop credit and $100 food and beverage credit if they hit a hole-in-one.

The Reserve Club at Woodside Plantation in Aiken, S.C., allows golf club members to pay $10 to sign up for the "Hole-in-One Insurance program," and will cover the costs of buying drinks for whoever is at the bar. When the fund drops below $200, all program members are billed $5 to replenish it.