Variables that affect the cost of the hole-in-one insurance include: the number of participants in the tournament, the skill of the participants (amateur vs. professional golfers), the length of the insured hole, and the value of the prize being offered.
For example, contest coverage can frequently be purchased for contests such as half-court shots in basketball, field-goal kicks in football, home runs in baseball, blue-line goals in hockey, and even retail and casino-based promotions as well.
For example, in the 2005 Super Bowl, prizes were set to be awarded for several events, including a return of the opening kickoff for a touchdown, a safety, and a fourth-quarter field goal of 50 yards or more.
One example came from April 2008, when such an insurance provider demanded RTL Group and CBS toughen million dollar win provisions after The Price Is Right $1,000,000 Spectacular produced three millionaires in the six episodes produced that season under the new rules imposed for the season.
The insurance company demanded that this threshold be reduced to $500, and that one of the million-dollar pricing games be removed.