Buying concert tickets can be an exciting experience, but also a risky investment. Tickets can cost hundreds of dollars, and concerts frequently sell out months in advance. If you can’t attend the concert after buying tickets, you may be out a lot of money. This leads many people to wonder – can you buy insurance for concert tickets? There are a few options available.
Ticket refund protection
Some ticket sellers like Ticketmaster offer their own protection programs at the time of ticket purchase. This is essentially a refund guarantee if you can’t attend the concert. Ticketmaster’s program is called Ticket Refund Protection. You pay an extra percentage of the ticket price (around 10-15%) for the right to get a full refund until the day before the event. Other ticket sellers have similar offerings. This gives you peace of mind that you can get your money back if plans change. However, Ticket Refund Protection from the official source is typically only available when you first buy tickets.
Third party ticket insurance
If the ticket seller doesn’t offer ticket refund protection, or if you want coverage after you’ve already bought tickets, you can look into third party ticket insurance. Companies like Allianz Global Assistance sell ticket insurance policies that allow you to insure concert tickets you’ve already purchased. The policy will reimburse you if you can’t go to the event due to a covered reason, like illness, injury, or travel delay. Policies can cost between 5-15% of the ticket value.
Pros and cons of ticket insurance
Ticket insurance can give you confidence that you won’t lose money if plans go awry. But is it worth it? Here are some pros and cons:
Pros:
- Get a refund if you can’t attend a concert for a covered reason like illness or travel issues
- Protect an expensive ticket purchase
- Peace of mind
Cons:
- Added cost to an already expensive ticket
- Pre-existing conditions may not be covered
- Reimbursement can take time
- Doesn’t cover changing your mind or not liking a concert
What does concert ticket insurance cover?
Concert ticket insurance policies vary, but they typically cover a similar range of situations where you can’t attend an event through no fault of your own. Here are some examples of covered reasons for refunds:
Illness and injury
A sudden illness or injury that leaves you unable to go to a concert would be covered by a ticket insurance policy. This includes being diagnosed with an unexpected sickness close to the event that prevents you from attending. Note that pre-existing conditions known before buying the policy are often excluded.
Transportation issues
If your car breaks down on the way to a concert or your flight is cancelled, you can recoup the ticket cost with insurance. Severe weather events or traffic accidents that stop you from making it to the venue are also generally covered.
Family emergencies
Family emergencies like a child’s illness, death in the family, or jury duty can prevent you from using your tickets. These situations would qualify you for a refund with ticket insurance.
Event or venue issues
Sometimes the event itself causes a cancellation. If a concert is postponed, rescheduled, or cancelled altogether, ticket insurance lets you recoup the cost. If there are issues with the venue like a fire or power outage that stops the concert, that is also covered.
Job obligations
If something unexpected comes up at work that prevents you from attending – like a new assignment or required travel – you can get your money back with ticket insurance.
Other non-covered situations
On the other hand, simply changing your mind, not liking a concert, or forgetting about it would not be covered by any ticket insurance policy. Normal work or family obligations that were scheduled before buying tickets would also not be eligible reasons for a refund.
Where to buy concert ticket insurance
If you want the security of ticket insurance for an upcoming concert, here are some options:
From the ticket seller
As mentioned, some ticket sellers like Ticketmaster allow you to add on protection like Ticket Refund Protection when you purchase tickets. This is the easiest option but is not available for all concerts or after tickets have been bought. It may also cost more than third party insurance.
Third party insurers
Companies that specialize in this type of insurance like Allianz Global Assistance sell policies that work for tickets purchased anywhere. You can buy from them after getting tickets to get coverage. Travel insurance providers sometimes offer ticket insurance too. Premiums vary based on the company.
Your credit card
One other option is using the trip insurance coverage included with some credit cards. Cards like Chase Sapphire Reserve provide trip cancellation coverage that can apply to concert tickets. You would need to pay for the tickets with that card to be eligible. This avenue doesn’t cost extra but coverage may be limited.
What does concert ticket insurance cost?
The cost of concert ticket insurance can range from about 5% to 15% of the base ticket price. Factors like the company, coverage, and event can affect the rate. For example:
- Allianz Global Assistance – roughly 10-15% of ticket cost
- TicketRefundProtection.com – around 8% of ticket cost
- RoamRight – 5-10% of ticket cost
So for a $100 concert ticket, you may pay around $10 for a basic policy up to $15 for more robust coverage. The added peace of mind can be worth it for very expensive tickets.
Sample concert ticket insurance costs
Here are some examples of potential concert ticket insurance pricing:
Ticket Price | 10% Rate | 15% Rate |
---|---|---|
$50 | $5 | $7.50 |
$100 | $10 | $15 |
$200 | $20 | $30 |
$500 | $50 | $75 |
How to file a concert ticket insurance claim
If you have ticket insurance and need to file a claim for a covered reason, here is the process:
1. Notify the insurance provider
Contact your insurance company promptly, usually within 72 hours of the event. You can call or email customer service and explain why you couldn’t attend.
2. Provide documentation
The insurer will require documentation supporting your reason for the claim. This could include a doctor’s note, accident report, death certificate, or evidence from the concert venue regarding cancellations.
3. Complete claim forms
Fill out any claim forms the insurance company provides. Supply details about the tickets, purchase dates, event information, and the circumstances of your claim.
4. Submit proof of ticket purchase
Insurers will require confirmation that you did in fact purchase tickets, typically a receipt from the original ticket seller.
5. Wait for claim decision
It can take anywhere from 1-6 weeks for insurers to validate your claim and issue a refund. You may be reimbursed for the price of the tickets minus your insurance premium.
6. Accept payment
Finally, the insurance company will send your claim payout once approved. This typically comes as a check in the mail or direct deposit if you provided bank details.
Pro tips for concert ticket insurance
To make the most of insuring your concert tickets, keep these tips in mind:
- Read the fine print – Understand exactly what is and isn’t covered before paying for a policy.
- Save all documentation – Keep receipts, medical records, and anything related to your purchase and claim.
- Act quickly – File the claim as soon as you know you can’t attend the event.
- Provide details – Give comprehensive information to the insurer to expedite approval.
- Insure early – Buying insurance right after getting tickets lessens exclusions.
Following these best practices will make the claims process smoother if you do end up needing to use the ticket insurance.
Conclusion
Although buying concert tickets is always a bit of a gamble, ticket insurance can protect you from losing money if you can’t attend for covered reasons. Refund protection directly from ticket sellers or third party insurers both offer options to insure tickets. Policies reimburse you so the tickets don’t go to waste if life gets in the way of your concert plans. Consider insurance for very expensive tickets to popular shows where reselling may be difficult. While there are some limitations, ticket insurance can give you peace of mind on that coveted concert experience.