Glossary of Terms
Welcome to Hole In One International’s Glossary!
We’ve put together this easy-to-use guide to help you better understand the terms and phrases commonly used in contest insurance, promotions, and golf-related prize coverage. Whether you’re planning your first event or you’re a seasoned pro, this glossary is here to make sure you’re fully informed. If you have suggestions for additional words and phrases that should be added to this glossary, let us know!
A
Ace
Getting an “ace” in golf refers to a hole-in-one, which is when a golfer gets the ball into the hole on their very first stroke from the tee.
Amateur Status
A golfer who participates in the event without receiving payment or compensation, preserving their amateur standing as defined by the United States Golf Association (USGA).
Aggregate Prize
The total value of all prizes awarded during a contest or promotion.
C
Contest Insurance
Coverage purchased to protect the event organizer from financial liability if a participant successfully meets the challenge (e.g., making a hole-in-one) and wins a prize.
G
Golf Fundraiser
A golf fundraiser is an event where participants play golf to raise money for a specific cause or nonprofit organization.
Golf Tournament Insurance
Golf tournament insurance encompasses a variety of insurance products designed to protect golf organizers and participants from financial and legal risks associated with golf tournaments, including liability, weather, and prize-related issues. It can also include general liability insurance, professional liability insurance for golf instructors, accident coverage for participants, weather insurance, and hole-in-one prize insurance
H
Hole In One Contest
A golf competition where participants can win a prize (e.g., a car, cash, or vacation) by successfully hitting a hole-in-one on a designated hole during a tournament.
Hole In One Insurance
A special form of prize indemnification coverage – a type of insurance- that protects event organizers from the cost of paying out a prize if a golfer achieves a hole-in-one during a tournament or event.
M
Million Dollar Hole In One Contest
A golf tournament contest where a golfer has the chance to win a $1,000,000 prize if they sink a ball into a hole in one single stroke on a designated par-3 hole.
Million Dollar Putting Contest
A golf contest where participants can win up to one million dollars, if they make a challenging putt, indoors or out.
Million Dollar Shoot-Out
A golf contet where a player or a group of players, typically finalists or winners of a tournament or qualifying golf contest, are given the chance to win a million dollars (or a large sum of money) for making a hole-in-one on a designated hole.
N
Non-Target Hole
In terms of hole in one insurance coverage, a “non-target hole” refers to a hole on the golf course that is not part of the hole-in-one contest. All of Hole In One International’s insurance packages include 3 complimentary prizes for non-target par three holes.
P
Par Three
A golf hole designed to be completed in three strokes. Par-3 holes are typically shorter than par-4 or par-5 holes, usually ranging from 50 to 200 yards .
Prize Idemnification Coverage
A form of indemnification insurance that protects businesses and promoters from the financial risk of offering large prizes in contests or promotions.
Putting Contest Insurance
A type of prize indemnification insurance that covers the cost of a prize awarded in a golf putting contest.
S
Sponsor
The individual, business, or organization that funds or hosts the promotional event or contest.
Sponsor Signs
Hole in one contest and other golf tournament sponsor signs are promotional materials displaying a sponsor’s logo, name, and/or contact information, designed to provide visibility and recognition for their investment during the golf tournament
T
Target Hole
When purchasing hole-in-one insurance, the “target hole” is the specific par-3 hole designated for the contest, where a golfer has the chance to win a prize for making a hole-in-one, aka “an ace”.
Tee Prize
Tee prizes, also known as as tee gifts, are promotional items which are given to participants at golf tournaments.
W
Witness Requirements
Rules stating that a specific number of impartial witnesses must be present to verify a successful shot or winning attempt, depending on the prize value.
